The only thing that should give united fans some sort of solice right now is the way we are operating in the transfer window, something is very different.
1. We obviously briefed a fake budget to the media so we don’t get ripped off, something we did last year too.
2. The bidding process and the relevant speed compared to the way united operate normally in getting a deal done.
3. The willingness and desire to sell young players to develop their career for relatively small transfer fees, huge 25-40% sell on fees or buy back clauses.
4. The ruthlessness we dealt with Ronaldo, De Gea and others to simply rip up or change our mind about a contract.
5. The relative drama free way of renewing Contracts for integral players like Rashford, Shaw, Garnaucho and Dalot.
6. The leaking of a FFP narrative which could not be known until the final quarter which was June 30th.
7. The news about to be reported of a record revenue of £630/640m in a season where we did not even play CL Football.
8. The willingness to sell the deadwood or remove them from the payroll at least. Expect Teles, Bailey, Williams, D Henderson, Fred, DVB and Either Mctominay or Maguire to go for a combined total of £80m
Conclusion or call it a hunch, The Glazers are clearing the decks, trying to make the club more valuable to sell and actually letting JM and ETH do their job with the excellent Matt Hargreaves being key in contract negotiations. If the club was bought in October/November would the value increase ?
Only in the unlikely event that we were leading the league and had a start like Arsenal did last season.
The obvious answer here is that Qatar went back to the Glazers and said we can not offer any more because ;
1. We have to pay the debt of £535m which has to be paid by 2025, since it was a 20 year loan and Bank of America will call it in or want to refinance which will cripple the club.
2. The Club has huge amortised debts to other football clubs because recently United have agreed most of their transfers on yearly terms, this figure of £308m effects the upcoming FSP rules drastically as it is included in the net transfer line and if your starting at -£100m for players who you still owe money every season, the club will find it difficult to spend money as the FSP rules slides down from 90% to 70%.
SJ/92 Foundation will have to pay this off in its entirety to be able to actually flex their financial muscle going forward. Selling young players under 21 for £1-3m now but potentially give you 25 to 40% of £30m transfer fees when these players develop fully is a smart move to combat future FSP rules but only if the current debt is cleared.
3. The cash position of the club rumoured to be just over £73m at the last quarter AGM will not finance £250m summer spending, however it was also stated they would use sone of the £260m, if required from the credit card facility.
So assuming the club has a budget of £170m plus £80m from sales and they back the manager to be competitive in order to raise the asking price of the club, and they actually buy ; A Onana, D Alaba, S Amrabat, M Mount, R Hojlund and O Gift, these players are all potentially upgrades but unless they make united top of the league, can not and will not increase the value of the club because the credit card used to buy them will now be maxed out at £200m again meaning the true debt of the club is £1 billion and this is why I believe Qatar will not increase their bid because they are already paying in excess of £6bn to buy 100% of the club.
Islamic businesses especially SJ will not want any debt, they pride themselves in never owning any other party money, their wish is a complete debt free United.
Jimmy Boy is the ultimate chancer, he’s just looking at any way possible to take control for vanity reasons, including partnering with two Goblins, but when he looks at the additional debt, he will have huge knock backs from INEOS who will see no potential benefits in supplying United a further minimum of £2bn required, one for debt and one for stadium and training ground redevelopment. If you forget to consider a large minority of 31% in your original bid why would you be so concerned with stadium and debt refinancing?
I actually think the sale will go through but not until early September, it may possibly announced in early August completely out of the blue and the figure may be squeezed or was originally £5.4/5.5bn and then 4/6 weeks later it will be finalised after relative checks. Why do I think this?
The Glazers are playing Russian roulette and there really is only one bidder in town, that fulfils all of the shareholders wishes, they’ve tried every trick and cheat in the book to get them to go to a completely unreasonable valuation so now, they will have to fold or go bust!
