Club Sale | It’s done!

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Woziak

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greenoffpearson said:
If somehow they look to change the memo/articles of the company, to allow Class B shares to remain Class B even on sale to a non Glazer, that process would require a board meeting. Those independent board members, who were previously spooked by the Class A shareholders threatening litigation will, no doubt, be clearly reminded of their duty protect all the shareholders.
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Call me crazy but I genuinely think something final was agreed last week and payments are currently be transferred and checked for final ownership to SJ, the issues are the clubs debt, we don’t even know if it exists from just one lender or if it’s multiple lenders, and if so payments need to be made into multiple accounts, their are 6 Glazers plus Woodward for a start after you’ve paid the creditors. Reuters and Bloomberg are not like the media, they report only on facts not fiction.
 

Woziak

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greenoffpearson said:
If somehow they look to change the memo/articles of the company, to allow Class B shares to remain Class B even on sale to a non Glazer, that process would require a board meeting. Those independent board members, who were previously spooked by the Class A shareholders threatening litigation will, no doubt, be clearly reminded of their duty protect all the shareholders.
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There was a board meeting at the AGM last week with no cameras or recording equipment allowed in the meeting
 

Chief123

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Woziak said:
Call me crazy but I genuinely think something final was agreed last week and payments are currently be transferred and checked for final ownership to SJ, the issues are the clubs debt, we don’t even know if it exists from just one lender or if it’s multiple lenders, and if so payments need to be made into multiple accounts, their are 6 Glazers plus Woodward for a start after you’ve paid the creditors. Reuters and Bloomberg are not like the media, they report only on facts not fiction.
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You’re crazy but I believe you.
 

dacore

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12 more pages and we have the year when Titanic sank. Hopefully the history doesn´t repeat itself so this ship will sink as well..
 

RopersReturn

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Once the sale goes through, I think there should be a massive image of Joel & Avram projected onto all the major landmarks throughout the World.
 

greenoffpearson

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Woziak said:
Call me crazy but I genuinely think something final was agreed last week and payments are currently be transferred and checked for final ownership to SJ, the issues are the clubs debt, we don’t even know if it exists from just one lender or if it’s multiple lenders, and if so payments need to be made into multiple accounts, their are 6 Glazers plus Woodward for a start after you’ve paid the creditors. Reuters and Bloomberg are not like the media, they report only on facts not fiction.
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Who knows?

But I think if you change the memo/articles you have to publish the changes, just in case some creditor wanted to lend etc, they need to have access to the upto date public register.

Also if they changed something like that the A class investors, the big boys, would have got wind of changes and would have made a lot of noise.

It will be interesting when it, hopefully, gets sorted and details come out on what the actual mechanics were.
 

Rauður Djöfull

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There better be some good news soon
This is an absolute disaster
I'm gonna celebrate like crazy whoever buys once the glazers are gone
 

Cloud7

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RopersReturn said:
Once the sale goes through, I think there should be a massive image of Joel & Avram projected onto all the major landmarks throughout the World.
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Avram looks like something that would be dumped from one of Jim's factories. Projecting an image of him would traumatize people.
 

Rhyme Animal

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Nonchalantly scoring the winner...

glazed

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AneRu said:
And the other siblings will just fold their hands and rue their misfortune, why? Remember the only reason J and A are in power at United is the cooperation of the other four siblings, what if they decide to vote out J and A from the board? Would they still enjoy owning United without the power and prestige it brings?

If push comes to shove the other four along with the minority shareholders have enough power to run the club without J and A or to even sue for variation which could break the Class A and B distinction of the holdings which would instantly smoothen the process. I read on here that all it takes is for a shareholder to own 15% and they could sue for variation, if there is a complete break within the family then the other four would have a stronger case to sue for variation especially if they can prove that Joel and Avram are actively trying to screw them over.
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All true but if the Qataris walk away there is nobody left to sell to except SJR. Remember they probably have to sell to somebody. And the Qataris say they only want 100% ownership so J&A can prevent that even with such a variation. On the other hand Qatar could buy all the shares except theirs and then end the dividends so the J&A shares are worthless. Consequences? I don't know. There's a few moves to go in this hypothetical chess game until the inevitable checkmate and failure of SJR's bid.

RopersReturn said:
Excellent post, really acknowledges the current situation and clearly summarises the potential outcome if the Glazers continue to stall.
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Thank you
 
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ifightdragons

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glazed said:
There's a few moves to go in this hypothetical chess game until the inevitable checkmate of SJR's bid.
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Great analysis in your posts. But I didn't understand this sentence.

What do you mean by "the inevitable checkmate of SJR's bid"?

It sounds like you're saying that SJR will "inevitably" win no matter what, as that is what "checkmate" implies. But I'm not sure if that's what you really meant?
 

Tarrou

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ifightdragons said:
Great analysis in your posts. But I didn't understand this sentence.

What do you mean by "the inevitable checkmate of SJR's bid"?

It sounds like you're saying that SJR will "inevitably" win no matter what, as that is what "checkmate" implies. But I'm not sure if that's what you really meant?
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it was

edit: nm read it as Jassim for some reason
 
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dacore

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ifightdragons said:
Great analysis in your posts. But I didn't understand this sentence.

What do you mean by "the inevitable checkmate of SJR's bid"?

It sounds like you're saying that SJR will "inevitably" win no matter what, as that is what "checkmate" implies. But I'm not sure if that's what you really meant?
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I understood it the other way around. That it is SJR who's getting checkmated. Tapped out. Drowned in INEOS own toxic waste.
 

glazed

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ifightdragons said:
Great analysis in your posts. But I didn't understand this sentence.

What do you mean by "the inevitable checkmate of SJR's bid"?

It sounds like you're saying that SJR will "inevitably" win no matter what, as that is what "checkmate" implies. But I'm not sure if that's what you really meant?
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The opposite. He will inevitably lose. Sorry. Have edited for clarity.
 

glazed

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Woziak said:
Call me crazy but I genuinely think something final was agreed last week and payments are currently be transferred and checked for final ownership to SJ, the issues are the clubs debt, we don’t even know if it exists from just one lender or if it’s multiple lenders, and if so payments need to be made into multiple accounts, their are 6 Glazers plus Woodward for a start after you’ve paid the creditors. Reuters and Bloomberg are not like the media, they report only on facts not fiction.
Click to expand...
I had a good chat about all this with one of the best plugged in finance journalists in the country last week who is following this closely. Their private view (based entirely on rumour and second and third hand gossip) was that Joel and Avram were blocking but there was no real route forward for them. I think that's most likely the case and they will fold at some point if the Qataris hold their nerve. Given that the Qataris must know that too they have no reason to fold first.
 

clarkydaz

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glazed said:
I had a good chat about all this with one of the best plugged in finance journalists in the country last week who is following this closely. Their private view (based entirely on rumour and second and third hand gossip) was that Joel and Avram were blocking but there was no real route forward for them. I think that's most likely the case and they will fold at some point if the Qataris hold their nerve. Given that the Qataris must know that too they have no reason to fold first.
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With there being no news anymore it feels like that, they have nothing to hide behind anymore. Especially if the Ratcliffe dead bid is true
 
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