Club Sale | It’s done!

[padzilla]

Is this basically Jim buying into the club with a minority share and reinforcing the Glazers' position? isn't this a doomsday scenario?

 

[cyberman]

Seems SJ and Sir James Arthur Ratcliffe FIChemE are racing in an endless race. Yes there are times Qatar edges ahead, Ratcliffe edges ahead but who cares to be honest. There’s no finish line!

Edit: wtf is that autocorrect!

Yeah, we got this very same Glazers are leaning towards Jim and a meeting will occur in a few days time around 3/4 months ago and that was from Bloomberg as well.
It’s a never ending nightmare. If Jim bid gets accepted all that will have happened is they sold some shares. The shares Jim buy all become A shares so he literally has no say in the club anyway. Then he’s just making an investment like every other minority bid.
Could be a disaster

 

[stevoc]

I am not a cycling fan so I don't know much about the sport, but what little I have read does make one thing clear, the success his team had before ineos takeover and after are very different and not in a good way. F1 really isn't a good barometer as they are a 1/3rd owner and not in control.

Nice I don't have much to say that you didn't except you left out a major problem with nice, they aren't competing with PSG, they are competing with other teams who don't spend as much money as PSG but quite a few also spend a lot less money than Nice have and seem to be finishing in better position. My issue with Nice isn't they dont compete with for the title it is that they can't even finish in top 4 and they definitely are in the top 4 in terms of spending over the years.

Jassim could ofcourse be another Al khelaifi, an idiot with more money than sense, but he gets the benefit of the doubt right now as he is unproven unlike Ratcliffe who has proven he isn't good at it.

Funny how any argument about blood money issues start with owning football clubs, is it because middle east can only buy football clubs and not clolonize you and make you live how they want you to live? Because if you look at the history book even today much of the big territorial problems in the world can be traced back to Britain drawing arbitrary lines after looting those countries for everything had a fact that made you a lot richer and everyone else a lot poorer. Americans and their allies have the Petro dollar and basically spread their form of crony rulership any time anyone in the world has ideas that go against their interests. Blood money is blood money, it's not drastically different if it comes from a Sheikh who believes women shouldn't get basic rights in ME country or a billionaire who helps pay for politicians who will strip it from a western one.

Also I am not defending the Middle East or Israel (don't even know how their shit comes up in this conversation), they aren't good people it's just the hypocrisy of the so called sport washing shit, to me it's like being ok with a bj but drawing a line at sex when it comes to cheating. Just sounds stupid. You are in bed with the devil just accept it and move on. They own your banks, your local grocery stores, places where you live and work, owning a football club is not somehow a sacrilege when they already own your money and what you eat and where you live.

On human rights violation, western companies and workers will always be one of the many profiting from it. You want to talk about the workers who died building qatar's football pr guess who built those stadiums you will find western architects and western project consultants. The war zones and atrocities you mentioned, guess who is backing the ones committing those atrocities and making money from selling the propogators of violence with arms and ammunition. We live where we live, you are an indirect beneficiary of the evils committed by your governments who you elect, just accept it since we can't really change it.

Oh boy, here we go. Time to dust off that meme again.

 

[stevoc]

Michael Knighton has been flying below the radar of late. Preparing one last mega bid?

He and his consortium had switched their interest to buying Harchester United. Michael was really disappointed to discover they only exist in a 90's TV show.

 

[putzmcgee123]

Seems SJ and Sir James Arthur Ratcliffe FIChemE are racing in an endless race. Yes there are times Qatar edges ahead, Ratcliffe edges ahead but who cares to be honest. There’s no finish line!

Edit: wtf is that autocorrect!

Realistically, this race is not ending until the following two things both happen:

1. The leading bidder reaches a valuation and (viable) structure that appeases the Glazers.
2. The other bidder is out of moves and does not revise their bid.

If we are to believe the reports, #1 is possibly satisfied finally. #2 has been the real sticking point throughout as the media have teetered between saying INEOS and the Qataris are "in the lead." The ideal situation for me is the Qataris up their offer and INEOS have played their last hand already. The worst would be if this INEOS offer is not truly viable and would lead to lawsuits, because it either means the apparent stalemate continues or we have to watch our club get bogged down by lawsuits in addition to accepting a seemingly shitty deal (for the fans) with INEOS.

 

[Brophs]

He and his consortium had switched their interest to buying Harchester United. Michael was really disappointed to discover they only exist in a 90's TV show.

In fairness, his ability to discern the lines between fiction and reality has always been sketchy, to say the least.

 

[davidmichael]

Solid post and for the Glazers to increase the value of the club from its already inflated value of £5.5 billion current bid, the following would have to happen ;

1. United become consistently successful on the pitch
2. The £1.5 billion paid to the Glazers assuming £1.1bn goes to them and £250m goes to Class A Share holders and £150m into the club for Cashflow.

Where is the money coming to pay off the £1 billion debt, £1 billion to modernise the stadium and £500m to invest in the Squad. The Glazers will have to invest £30m of that £1.1billion this year, the following year and the year after just to prevent serious FFP Fines and Sanctions.
3. At least £250m additional money needs to be invested in modernising Carrington
4. Regular CL football for each of the next three consecutive seasons.
5. Should INEOS take control and Nice finish in the top 3 of French league either United or Nice will not be allowed to play CL as a conflict of interests.
6. United would have to be given their own TV deal to screen every match on their own platform to really increase revenue to the levels that increase the value of the club to £8-10billion
7. They qualify for the club World Cup every 4 years starting in 2025.
8. Domestic and overseas TV rights go up by 30-40% when the new deal is finalised.

Awful lot of if’s and maybe’s however they will not sell to Qatar until they up their bid to £6 billion!

This is the thing as the £175 million will go straight in the parasites pocket and nothibg will be invested into the club or towards the debt, it’s just yet more free money for the parasites.

We’re light years behind City squad wise and also behind Arsenal and an argument could be made that after this season we’ll be behind Liverpool, Newcastle and Spurs thus meaning we’d be aiming for Europa but it’s believable we could finish behind Villa and Brighton then even miss out on Europa.

As far as facilities go we’re mid table and if we struggle this season and fall out of the CL in the group stages there’s zero money for the parasites to take out let alone invest in infrastructure, I just don’t get why Ratcliffe would do this just to get his foot in the door as the reality is the club he’d potentially take over eventually would be a financial mess and a club fighting for a Europa spot and as a business man surely he sees how bad a business decision it is.

Already the club is working off of a credit card facility for transfers and struggling with FFP due to the debt saddled to the club, once the whole FFP structure changes next year we’d be in an even bigger mess and further behind.

Unless Ratcliffe is coming in and also clearing the debt (which I don’t believe he will seeing as there’s certain tax breaks for debt) absolutely nothing changes as we’re still controlled by the parasites, saddled with huge debt, struggling with FFP, light years behind other clubs in infrastructure, way behind others in the squad and a clear toxic morale throughout the club from the very top to the bottom due to piss poor management.

If the parasites are banking on the Super League being resurrected or the new format of the CL or the World Club Cup or even new television deals they’ll be in for a massive shock as the Super League dead and we won’t be getting anything out of the others due to where we are and will continue to be without a complete reset and restructure which can only occur with a full takeover.

 

[Zora]

You don't know him then? He's actually a sound bloke but does it really matter? I mean, you sound like a complete prick but I wouldn't know with not actually knowing you.

Ah sorry mate, didn't know you were friend's with Howson.

(He's still a cnut)

And their channel used to be funny, I enjoyed it. But they've become shit Z-List e-celebs and it's gone to their heads. The only bloke I like on there is Andy Tate as he wears his heart on his sleeve. Jay Motty is a cnut who pretends he's a nice bloke (I caught him making a derogatory comment about autistic people once and Joe quickly changed the subject), Howson is a narcissist, McKola is an insufferable prick and Joe thinks he's Ricky Gervais. I do like other Joe though, the radio bloke. He's lovely.

Awful bunch of bellwhiffs and their clickbait, takeover "content" is the worst. They've gone from a channel which produced good quality content to a clickbait, BS channel for LIKES & SUBSCRIBES! And don't forget to sign up to Manscape whilst you're there!

United Stand is even worse, horrible platform.

United View is very good - likeable chaps.

 

[Loon]

I wonder how they judge who is in the lead? Do you think Raine have an Own-ometer they update periodically, like Peter Snow on election night?

 

[Brophs]

Ah sorry mate, didn't know you were friend's with Howson.

(He's still a cnut)

And their channel used to be funny, I enjoyed it. But they've become shit Z-List e-celebs and it's gone to their heads. The only bloke I like on there is Andy Tate as he wears his heart on his sleeve. Jay Motty is a cnut who pretends he's a nice bloke (I caught him making a derogatory comment about autistic people once and Joe quickly changed the subject), Howson is a narcissist, McKola is an insufferable prick and Joe thinks he's Ricky Gervais.

Awful bunch of bellwhiffs and their clickbait, takeover "content" is the worst.

Good apology. 10/10.

 

[VP89]

I wonder how they judge who is in the lead? Do you think Raine have an Own-ometer they update periodically, like Peter Snow on election night?

They would have sources close to the decision makers to see who is edging it +

 

[Woziak]

This is the thing as the £175 million will go straight in the parasites pocket and nothibg will be invested into the club or towards the debt, it’s just yet more free money for the parasites.

We’re light years behind City squad wise and also behind Arsenal and an argument could be made that after this season we’ll be behind Liverpool, Newcastle and Spurs thus meaning we’d be aiming for Europa but it’s believable we could finish behind Villa and Brighton then even miss out on Europa.

As far as facilities go we’re mid table and if we struggle this season and fall out of the CL in the group stages there’s zero money for the parasites to take out let alone invest in infrastructure, I just don’t get why Ratcliffe would do this just to get his foot in the door as the reality is the club he’d potentially take over eventually would be a financial mess and a club fighting for a Europa spot and as a business man surely he sees how bad a business decision it is.

Already the club is working off of a credit card facility for transfers and struggling with FFP due to the debt saddled to the club, once the whole FFP structure changes next year we’d be in an even bigger mess and further behind.

Unless Ratcliffe is coming in and also clearing the debt (which I don’t believe he will seeing as there’s certain tax breaks for debt) absolutely nothing changes as we’re still controlled by the parasites, saddled with huge debt, struggling with FFP, light years behind other clubs in infrastructure, way behind others in the squad and a clear toxic morale throughout the club from the very top to the bottom due to piss poor management.

If the parasites are banking on the Super League being resurrected or the new format of the CL or the World Club Cup or even new television deals they’ll be in for a massive shock as the Super League dead and we won’t be getting anything out of the others due to where we are and will continue to be without a complete reset and restructure which can only occur with a full takeover.

There was some information from Ratcliffe camp about the debt that their plan was to immediately pay off £200m of the debt but then use the clubs profits to pay off the rest over a 4-5 year period.

However this was if he took control of the club not as a minority owner with a 25% stake so you would assume he would activate this financial level like Barcelona as he increased his controlling share of the club, it would be an absolute Frankenstein deal with all the Goblin’s plus the Rat in charge.

If he’s prepared to sell out the fans and keep the Glazers what else is he prepared too do further down the line!

 

[gregwar]

Ah sorry mate, didn't know you were friend's with Howson.

(He's still a cnut)

And their channel used to be funny, I enjoyed it. But they've become shit Z-List e-celebs and it's gone to their heads. The only bloke I like on there is Andy Tate as he wears his heart on his sleeve. Jay Motty is a cnut who pretends he's a nice bloke (I caught him making a derogatory comment about autistic people once and Joe quickly changed the subject), Howson is a narcissist, McKola is an insufferable prick and Joe thinks he's Ricky Gervais. I do like other Joe though, the radio bloke. He's lovely.

Awful bunch of bellwhiffs and their clickbait, takeover "content" is the worst. They've gone from a channel which produced good quality content to a clickbait, BS channel for LIKES & SUBSCRIBES! And don't forget to sign up to Manscape whilst you're there!

United Stand is even worse, horrible platform.

United View is very good - likeable chaps.

Sloppy Joes podcast is brilliant, mind. Ethan's a comic genius.

Oh, the takeover - all shite isn't it? Like choosing between a broken arm or a broken leg.

 

[arthurka]

What is giving you that belief,personally feel if Jassim was willing to outbid Ratcliffe he would have done that already

Why would he? Why pay 6 when you can get it for 5?

 

[Adebisi's Hat]

To be frank i just wish Sir Jim would bugger off at this stage. I get the impression he is just been used by the Glazers to mug off Jassim for more cash and the longer he hangs about it just allows the Glazers to drag out the process. This talk about Sir Jim taking a minority stake with the parasites still in control is a recipe for even more poor oversight. Imagine getting the Glazers and Sir Jim to make a decision together on any matter, that process would make the current lot look speedy.

 

[AltiUn]

Ah sorry mate, didn't know you were friend's with Howson.

(He's still a cnut)

And their channel used to be funny, I enjoyed it. But they've become shit Z-List e-celebs and it's gone to their heads. The only bloke I like on there is Andy Tate as he wears his heart on his sleeve. Jay Motty is a cnut who pretends he's a nice bloke (I caught him making a derogatory comment about autistic people once and Joe quickly changed the subject), Howson is a narcissist, McKola is an insufferable prick and Joe thinks he's Ricky Gervais. I do like other Joe though, the radio bloke. He's lovely.

Awful bunch of bellwhiffs and their clickbait, takeover "content" is the worst. They've gone from a channel which produced good quality content to a clickbait, BS channel for LIKES & SUBSCRIBES! And don't forget to sign up to Manscape whilst you're there!

United Stand is even worse, horrible platform.

United View is very good - likeable chaps.

I love how many times you came back to add stuff to this post

 

[Heinzesight]

Perhaps the three of them…Jazzy, The Jimster and The Florida Goblins (not an NFL franchise btw) can all get together to become one big Super Owner:

Sheikh, Ratcliffe and Trolls

 

[philippexyz]

It is likely that the Bloomberg story is correct. Ineos have been reworking their bid as previously reported and have now landed on something that is palatable to the Class A shareholders and the Glazers, which will pass without legal challenge. Absent their asking price being met, it most likely is true that this offer from Ineos is, as Bloomberg report, the Glazers preferred offer of those currently on the table. Bloomberg are happy to publish, because the story is true.

That covers the substance of what has been published, but not the question of why it was published. The fact that Ratcliffe is now proceedable allows the Glazers/Raine to have another nibble at the Qataris to see if they can make a big full sale offer that meets (or gets a lot closer) to their asking price. That's why this (nevertheless accurate) piece has been published. If the Qataris don't significantly increase their offer, I assume we'll end up with Ineos' 25% deal, but the Glazers are clearly still open to a full sale at the right price.

I agree with everything you said. I believe that Qataris won't up their offer. They don't want to be made a fool of by a grotesque, foul, pathologically greedy American family and drastically overpay. Glazers have overplayed their hand there, I think, if they truly wanted to draw out a "feck off" offer.

Sir Jim Ratcliffe is buying the club just to fulfil some kind of a childhood fantasy(because he supported Man United as a child). Become an owner of Manchester United(at the very least partial) before death(he's 70 already, who knows how much he has left). It's a vanity purchase, out of pride. I don't think Manchester United will be significantly improved with him as the owner. It will be battle for top 4-5, Europa League mostly, while the rest of the "big boys" led by City, Newcastle etc. fight for the titles. We'll truly become the new Spurs, like Roy Keane said.

Not to mention, Qataris are going to buy another PL club, we were just the first choice as the most prestigious, historically biggest one. They'll buy one of Tottenham, Liverpool, West Ham etc., invest billions and create another monster with unlimited resources, like City and Newcastle(could mention Chelsea there as well, given their spending and ambition).

And then good luck to Manchester United and it's fans. They won't see a PL or UCL trophy(not even sniff) for the rest of their lives, probably. We'll always have something to remember at least, our former glory. "We've seen it all, we've won the lot, we're Man United and we are going to stop." Unfortunately...

 

[jderbyshire]

Can I just ask - why has discussion of the takeover ramped up on here this week?

Has there been any credible new information? Because if there is, I haven't seen it.

 

[davidmichael]

There was some information from Ratcliffe camp about the debt that their plan was to immediately pay off £200m of the debt but then use the clubs profits to pay off the rest over a 4-5 year period.

However this was if he took control of the club not as a minority owner with a 25% stake so you would assume he would activate this financial level like Barcelona as he increased his controlling share of the club, it would be an absolute Frankenstein deal with all the Goblin’s plus the Rat in charge.

If he’s prepared to sell out the fans and keep the Glazers what else is he prepared too do further down the line!

Yeah I don’t see him paying off any of the debt unless he has a guaranteed fixed date and price to buy the club over a certain amount of years in place so he knows him getting rid of the debt is a sound business move but as you said it’s such a slow and lumbering move that it means nothing changes for the club for years by which time we could realistically become a mid table club.

Off hand do you have any idea on if he’s potentially buying 25% of the Class B shares from the parasites or if it would be 12.5% of the Class B shares and also 12.5% of the Class A shares to keep the Class A shareholders happy ? If it’s 25% of the Class B shares would that not make him the majority single shareholder ? As none of the parasites own more than 20% themselves personally do they ?

You’d like to think that being a businessman he wouldn’t risk the clubs future on future income by levers like Barcelona did as they’re still in a shocking state financially from what I last read, I am just hoping that this is the final Hail Mary from the parasites to get Qatar to pay the £6 billion as like I said the Ratcliffe deal benefits no one at all short term or long term.

 

[Licha-Vidic]

Tweet

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[Widow]

Ah sorry mate, didn't know you were friend's with Howson.

(He's still a cnut)

And their channel used to be funny, I enjoyed it. But they've become shit Z-List e-celebs and it's gone to their heads. The only bloke I like on there is Andy Tate as he wears his heart on his sleeve. Jay Motty is a cnut who pretends he's a nice bloke (I caught him making a derogatory comment about autistic people once and Joe quickly changed the subject), Howson is a narcissist, McKola is an insufferable prick and Joe thinks he's Ricky Gervais. I do like other Joe though, the radio bloke. He's lovely.

Awful bunch of bellwhiffs and their clickbait, takeover "content" is the worst. They've gone from a channel which produced good quality content to a clickbait, BS channel for LIKES & SUBSCRIBES! And don't forget to sign up to Manscape whilst you're there!

United Stand is even worse, horrible platform.

United View is very good - likeable chaps.

Each to their own, mate, I respect your choice. Personally, I'm not a fan of the United view and the United Stand is just horrible

 

[George The Best]

It is likely that the Bloomberg story is correct. Ineos have been reworking their bid as previously reported and have now landed on something that is palatable to the Class A shareholders and the Glazers, which will pass without legal challenge. Absent their asking price being met, it most likely is true that this offer from Ineos is, as Bloomberg report, the Glazers preferred offer of those currently on the table. Bloomberg are happy to publish, because the story is true.

That covers the substance of what has been published, but not the question of why it was published. The fact that Ratcliffe is now proceedable allows the Glazers/Raine to have another nibble at the Qataris to see if they can make a big full sale offer that meets (or gets a lot closer) to their asking price. That's why this (nevertheless accurate) piece has been published. If the Qataris don't significantly increase their offer, I assume we'll end up with Ineos' 25% deal, but the Glazers are clearly still open to a full sale at the right price.

I don’t get the boldened bit. If INEOS are only buying a minority of the A class shares, how do they decide which shareholders benefit from the windfall - and the remaining 75% of them will still feel shafted. Personally I can’t see how any deal can be done without buying 100% of the A class shares.

 

[Brownie85]

I don’t get the boldened bit. If INEOS are only buying a minority of the A class shares, how do they decide which shareholders benefit from the windfall - and the remaining 75% of them will still feel shafted. Personally I can’t see how any deal can be done without buying 100% of the A class shares.

Plus couldn't they just buy the Glazers Class A shares too meaning even less for other shareholders? Just seems that its the Glazers profiting from the Class A share side as well as their Class B shares.

 

[Berbaclass]

Tweet

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Sheikh Hamad, the father of Sheikh Jassim Al Thani, posted on his Instagram account that he received David Solomon, CEO of the American Goldman Sachs Group, at his home.
For your information, Sir Ratcliffe has taken Goldman Sachs as one of the groups advising him on his attempt to buy Manchester United.

 

[Moiraine]

Tweet

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What does that mean then?

 

[Andy_Cole]

What does that mean then?

Here we go in Arabic

 

[buchansleftleg]

What does that mean then?

The gentle art of Persuasion? Find out from his banker how well "financed" this new revised offer from Sir Jim is before deciding if it is a paper tiger or a real competitive option.

 

[Berbaclass]

What does that mean then?

Who knows but it’s interesting.

 

[VP89]

The gentle art of Persuasion? Find out from his banker how well "financed" this new revised offer from Sir Jim is before deciding if it is a paper tiger or a real competitive option.

Top marks for imagination

 

[seegoblu]

I don’t get the boldened bit. If INEOS are only buying a minority of the A class shares, how do they decide which shareholders benefit from the windfall - and the remaining 75% of them will still feel shafted. Personally I can’t see how any deal can be done without buying 100% of the A class shares.

It will be a tender offer, meaning the offer will be made to all Class A shareholders, and if more than 25% of the shares are “tendered” to the buyer, those Class A shareholders who tendered their shares would receive a pro rata portion of the cash….If 100% of the Class A shareholders want to sell, each would end up selling 25% of their shares for cash and keep the 75% of their shares that were not purchased

 

[Cantonagotmehere]

For the 1st time since the initial announcement, I feel like something is about to happen. Not sure why I'm allowing myself to get my hopes up, but I am. I think any action besides, Elliott, Red Fin etc...will lead to our Club being better run. Again, I know I am probably deluded. It's the hope that kills....

 

[Nero]

Jimmy Rat needs to read the room.

 

[DevilsOwn]

Jimmy Rat needs to read the room.

He has read the Glazer's room.

He is giving the cash they want today and hedging for a bigger pie for himself tomorrow, either more share in United or good return if United is sold to someone else

 

[mu4c_20le]

Jimmy's about to win, while Jassim and his daddy can stay in the room and read it all they want.

 

[Woziak]

Yeah I don’t see him paying off any of the debt unless he has a guaranteed fixed date and price to buy the club over a certain amount of years in place so he knows him getting rid of the debt is a sound business move but as you said it’s such a slow and lumbering move that it means nothing changes for the club for years by which time we could realistically become a mid table club.

Off hand do you have any idea on if he’s potentially buying 25% of the Class B shares from the parasites or if it would be 12.5% of the Class B shares and also 12.5% of the Class A shares to keep the Class A shareholders happy ? If it’s 25% of the Class B shares would that not make him the majority single shareholder ? As none of the parasites own more than 20% themselves personally do they ?

You’d like to think that being a businessman he wouldn’t risk the clubs future on future income by levers like Barcelona did as they’re still in a shocking state financially from what I last read, I am just hoping that this is the final Hail Mary from the parasites to get Qatar to pay the £6 billion as like I said the Ratcliffe deal benefits no one at all short term or long term.

Again huge misreporting original media brief was Ratcliffe buying 25% of the club with a minority investment for £1.5 billion there they were all valuing the club at £6 billion, not strictly true then yesterday he was reported as valuing the club at £5.1 billion.

The only way this could potentially work is if he buys 25% of Class B shares and then 25% of class A shares.

Buying 12.5% of class B and 12.5% of class A shares equals 12.5%.


My understanding is that INEOS would be looking to purchase 25% of 113m class B shares which is 28,250,000 shares at enterprise of $36-40 which is twice the current price.

Then to try and appease the Major Class A minority shareholders like Lindsell Train (11m), Ariel investment (6.5m), Eminence capital (3.96m), Pentwater Captal (2.1m) and Senvest Management (0.86m).

You have to remember that the Glazers still hold (6.9m) class A shares which is why I’m not buying this I’ll explain.

Ratcliffe buys 25% of the 50m class A shares means that they are offering let’s say $38 per share and someone like Lindsell Train sells 2.77m shares at $105m rather than sell all 100% for $420m, they take a small injection now for the promise of getting the same in 3-4 years when they have already giving the Glazers a vote of no confidence, they may accept the deal if INEOS were in charge of all major decisions but this is a huge risk for them especially as none of this investment fixes the true financial problems of the club.

No or very little money is initially available to solve Cashflow and buy new players. No Investment to prevent potential FFP issues and no real plan to pay off club debt of £1bn and then start to think about investing into a new stadium and infrastructure.

The Glazers would sell 28.25m class B shares(25%) at say $40 equalling $1.13 billion and then sell 25% of their 6.9m class A share which is 1,725,000 at $38 which equals $65m. They would get less than $1.18 billion which isn’t even £1 billion between 6 of them it’s about £160m each and none of that money is getting reinvested into the club not one pound or cent!

I can see why they would like it, regain control as they would still have 51.75% of class B shares and eleven percent (11%) of class A shares. So if the club was sold for £7billion in 3 years to INEOS then they would have to still pay the Glazers a huge premium to buy the remaining 51.75% of controlling shares as they only way you could get control is buy enough shares to give you 51%.

Pros for them would be they could get £150m now and maybe if everything went perfect another £850m in 3-4 years, however If Ratcliffe keeps Class B voting shares which I’m sure his lawyers will insist on and things don’t go well on and off the pitch, all he has to do is probably turn half the Glazer family against the other half and then buy out Darcy, Kevin and Bryan giving him another 26% of class b voting shares to invoke a hostile takeover.

Huge risk on their part, they will look at this deal and so will the minority share holders, whilst praying for SJ to up his bid by even 300 or 400 million more so they can’t say no.

 

[Woziak]

It will be a tender offer, meaning the offer will be made to all Class A shareholders, and if more than 25% of the shares are “tendered” to the buyer, those Class A shareholders who tendered their shares would receive a pro rata portion of the cash….If 100% of the Class A shareholders want to sell, each would end up selling 25% of their shares for cash and keep the 75% of their shares that were not purchased

Spot on that’s how it would work but like I said would leave the Glazers open to a potential hostile takeover further down the line, especially if the contract is not airtight and this will be a very different contract from a normal M&A deal,

 

[gaffs]

Exactly Swedish rumble posts is worth a read on this he basically says the same,

Ratcliffe is investing £1.5 bn for 25% of the club, that means he buys 25% of the 69% 113m class B shares at say $40 that’s $1.13 billion then he agrees to buy some of the Glazers A Shares they own 6.9m from 54m I believe that’s about 12.77% then he agrees to buy 12.23% of the other class A shares providing they will sell having lost a potential windfall from SJ but let’s run through it hypothetically, that 6.6m which will not make the A class shareholders happy at all. This is a total of 13.5m class a shares again at $40 = $540m that’s a total of $1.653 billion which is £1.350 billion plus he then gives them a £150 million pre payment on an airtight contract that guarantees he takes over the club providing he meets their valuation, basically giving them everything they’ve always wanted.

Here’s the problem, currently Man United can not even do a loan deal in January and INEOS will be making that £150m only available to pay off the credit card facility set up for the summers transfers, this is a terrible scenario for the club and I believe SJRatcliffe would be hated befire he started just for keeping them on and giving in to their every wish.

What id like to see happen is SJ/92 Foundation go in with a ridiculous £6.5-7bn bid but only give them 1 hour to accept this bid having received an offer by telegram then ask them to return within the hour by using the old Trafford Fax for the incoming answer of yes to say it arrived to late and now they are completely pulling out of the bidding process for the club, that my fellow united fans is what the Glazer Vermin deserve !!

So a couple of weeks back, you were insistent The Glazers wanted "£6 billion to sell their 69% controlling stake and relinquish complete control", meaning "The cost to buy 100% of United is £7.3 to 7.4 billion pounds."....

https://www.redcafe.net/threads/club-sale-no-significant-recent-updates.474085/post-31177531

Yet, you are saying now...

"that means he buys 25% of the 69% 113m class B shares at say $40 that’s $1.13 billion"

$1.13 billion is £1.06 for 25% of class b, as you say. That makes their class B shares worth a total of £4.24 billion.

Why the massive discount?

 

[Woziak]

Jimmy's about to win, while Jassim and his daddy can stay in the room and read it all they want.

We’ve been down this road before and he’s not wining because all of the fans lose since the Glazers will stay and Jimmy the man, can’t even decide what toilet paper united can buy next month but Joel and Avram can keep buying the F..K Y.U toilet paper that we all keep wiping our ass with
Rinse Repeat Rinse ……?

 

[Woziak]

So a couple of weeks back, you were insistent The Glazers wanted "£6 billion to sell their 69% controlling stake and relinquish complete control", meaning "The cost to buy 100% of United is £7.3 to 7.4 billion pounds."....

https://www.redcafe.net/threads/club-sale-no-significant-recent-updates.474085/post-31177531

Yet, you are saying now...

"that means he buys 25% of the 69% 113m class B shares at say $40 that’s $1.13 billion"

$1.13 billion is £1.06 for 25% of class b, as you say. That makes their class B shares worth a total of £4.24 billion.

Why the massive discount?

Ok very simply this is no longer a M&A deal so there is no premium payment required needed to take control or pay the Glazers to F…Off as they are now staying, this is purely a minority investment, the worst kind that means that the Glazers stay in charge, it’s no different to what they did previously when they sold shares to raise cash!

The Glazers continue to run the club exactly how they see fit without any involvement from Ratcliffe or INEOS