I know but hard not to lose any hope when most British media have nothing positive to report
Club Sale | It’s done!
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I appreciate that, however they (the journalists) have created/referred to a new element, the stage of entering into exclusivity negotiations. Unless I am mistaken the lawyers were instructed at the outset.
There have been several deadlines and suggested completion timeframes. You would have assumed that those lawyers would have undertaken the negotiations on a draft or actual exclusivity agreement in tandem and merely fine tuned those elements that were/are particular to the successful party. These are highly capable firms of lawyers and you would assume that, certainly, as far as the buyer is concerned time is of the essence, there would be no need to pronounce it as another stage and therefore a continuation of the dragged out sale.
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Timescales to finalise the deal are the main concern but at least the cnuts are going for good.
Only if Jassim wins which he hasn't yet
I'm not expecting any notable news (but happy to be surprised), this news screams of them trying to get Ratcliffe to up his offer. They'll make him sweat and give him time to decide and only then will the process move on. It's the same sort of thing they did to get SJ to up his offer (twice!).
Yeah this says no news til next week then
Why won't he just walk away,he has had enough time to fecking decide. No increased offer thanks Ratcliffe just leave process so we can move on.
I think they got one thing right though, that the process will take another 12 weeks or so. I find that reasonable, unfortunately.
The UK press are fecking clueless, they're reporting on this like a fecking player transfer instead of the multi-billion dollar business deal that it is.
Reuters have impeccably sourced information based in dealing in big business every single day, they have active information from the NY stock exchange and are finance experts.
They don’t go around making up stories to help push a narrative to help someone get more money and it's absolutely laughable that that's the line being pushed.
The likes of Stone, Jacobs, Jackson all get fed information from the club directly which means they can be used to push narratives/angles the club wants out there. Reuters have actual sources within the business world and report that information without agenda
Reuters have impeccably sourced information based in dealing in big business every single day, they have active information from the NY stock exchange and are finance experts.
They don’t go around making up stories to help push a narrative to help someone get more money and it's absolutely laughable that that's the line being pushed.
The likes of Stone, Jacobs, Jackson all get fed information from the club directly which means they can be used to push narratives/angles the club wants out there. Reuters have actual sources within the business world and report that information without agenda
Let's use this as an example about why there are negotiations. If we consider that time is of the essence for the buyer then the modality and duration of the exclusivity phase will depend on when you agree on it. In the context of a timeline if the exclusivity period starts in January, July or September, each parties may have different requirements based on their own schedule or the schedule of the asset that they want to purchase and these requirement could conflict with the other party.
It's a basic example but it illustrates why you will find yourself in a negotiation phase when you reach that point nd not simply using a template that you drafted with virtually every scenario possible.
One positive of this takeover is that there's always next week.
Yeah just shut thread until Monday
Well if he doesn't want to increase his offer he probably will walk, but the Glazers/Raine are going to try their best to squeeze out anything extra they can get no matter how long it takes.
This man is a proper blagger.
Please tell me there is no truth in this
No it won't, they all chance their arm at times.
I can’t see how this puts any pressure on Jim? Remember when they reported the same angle with Qatar and it turned out Glazers were contracting PSG owners to convince SJ rather than games played through Jamie fecking Jackson?
Guess these reliable sources simply slept on that bit of information.
Im pretty sure exclusivity talk stage wouldn’t be reached without both parties telling Glazers that they’re at their limit otherwise we’d be talking about more stages.
This shows how far detached you are from the club.
Many of the staff members embodied the fabric of the club, the likes of Ronaldo, SAF, RvN, Becks etc. All had the same faces greeting them and making them feel at home.
Mitten mentioned the current staff care so much about the club, it would be atrocious if any new owner completely overhauled that.
Make the right structural and footballing changes sure, but a lot of staff members are very much what makes the players make the club feel like family.
I have finally lost it with this saga today
No chance Reuters run with something like that without having something solid behind it.
Want to believe that but it's still not moving
It doesn't show mate
Dude, calm down and stop expecting the sale to happen imminently, it won't.
There is truth, once a bidder has been preferred there is then 8 to 12 weeks of approval checks... This won't be done in 2023 in my opinion. We will know who the prospective buyer is but they won't get the keys to the castle.
It isn't a transfer saga.
It'll help for me. What you do is your prerogative brother
I hope you're not one of them people that needs "in my opinion", "for me" type disclaimers in every post, to understand them
Appropriate timing because this whole thing feels like pulling teeth.
There will be teams of 100's working on this day in and day out - progress behind the scenes will be moving, slowly but surely we will get there.
It's only frustrating for fans because right now the majority are living/breathing this shit.
This will be no closer to being done even by June 30th in my opinion.
The whole thing has been a clusterfeck of dogshit sandwiches
The whole thing has been a clusterfeck of dogshit sandwiches
Staff concerns are extremely valid. A change in leadership means uncertainty for almost everyone inside the club. I believe outside ETH nobody really knows if they're keeping their jobs or not. We're in a situation where people like Murtough are working on our summer plans with one foot outside the club already.
Here’s a pragmatic view on the whole affair, outlets are now quoting 8-12 weeks for the deal to be complete once a buyer has been accepted.
SJR is by far the most complicated in multiple ways,
1. He still needs to release bonds subject to 28 days notice !
2. Pacify the 31% minority A Shares, probably look to move the club from New York to London stock exchange (most owned by Qatar BTW)
3. Get all 6 glazers to agree the put and call offer, good luck with that
4. Get through Uefa with multi clubs and how you own Nice and United
5. Get the Glazers to believe that should they keep 20% of their shares, how with his current track record of running Nice would SJR get the club share value to increase and win on the pitch again.
6. Explain and prove to the PL that the money is coming from your own accounts or your own business as inter company loan so you will not be buying united with another leveraged buy out, of course he can but this will take time.
Yep that would take at least 12 weeks more like 16 so SJR deal is incredibly messy and he would have no effect, no investment on this summer transfer window where the club would simply slip into more mediocrity!
SJ bid
1. All 6 Glazers get more than they deserve
2. Minority share holders happy with the deal
3. The debt is paid on completion and therefore united accounts are instantly improved and receive a £50m transfer boost thus summer
4. The EPL test will find it hard to turn this deal down where no proof to a state bid can be found and City and Newcastle already exist.
5. Uefa have confirmed through Naseer Al Khalifi he’s nothing to do with United
6. This deal for 69% control of the club and payment of the debt can be done in 6 weeks where SJ would be able to start making sweeping changes and still have the month of August to influence some transfers.
It’s clear The Greedy goblins want more than the $6bn they would get this year through selling all A and B shares, they’ve been given their legacy premium and the more they stall, the more likely the Qatari bid is likely to walk away and call their bluff because its clear that SJR bid is struggling to even raise the necessary cash and at what rate would he borrow against INEOS to facilitate a United purchase.
My point for this to be worthwhile for SJ the deal has to be signed in the next 2 weeks or they might as well walk away through the frustration of dealing with the Glazers to the Qatari bid just isn’t worth it anymore!
I see what you did there.
If any party enter exclusivity talks then the Glazers agreed on a fee. Exclusivity is generally about how ownership is transfered legally and how each party want to pay or receive the payments. And yes, it can last a while.
Agree. Perhaps the senior management will be gone, too.
Not feeling optimistic about this take-over since Qatar said in the past they would hire United legends. Fingers crossed they hire competent people and not ex-players just to generate more buzz.
Of course it is but he really can’t as he’s not liquid enough to go that !
shoehorning in a couple of legends for PR isn't gonna make any difference to how the club performs
Yes, but why promote the obvious work to a 'stage'?
No doubt they may have started with a template but that would have been months ago. The lawyers would have negotiated the details of the draft and crafted the outline, their instructions would have been to prepare the papers ready to lodge, time being of the essence.
As stated in the more recent tweets, today, the 'stage' seems to have been cultivated to encourage the unsuccessful party to improve their bid.
If this is the rate of progress then we have no hope. Of course things are complicated however the whole purpose of the exclusivity agreement is that they can then deal with the substantial issues at hand.
Sorry I have no more posts left today to discuss this interesting point.
Exclusivity is usually when the DD starts. Not sure in this case because the information has made it sound like DDs have already been done by both parties. But generally investors do not want to pay millions to legal and financial advisors for the DD without exclusivity.
As long as they keep kath, Tony Sinclair and his team, the Kitman, Fred the Red and ETH and his coaches I’m good.
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