Who controls the money?
Club Sale | It’s done!
- Thread starter JB08
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Joel Glazer won’t be on any committee just to fill a seat. He’s going to have a serious input on any matter. There’s no way he’ll let himself be outnumbered 2 to 1 every time there’s a difference of opinion.
The Joel Glazer news is massively bleak and grim to be fair.
Jassim couldn't, but the state could. The money for the bid couldn't have been his own money, it was most likely his father's + assurances and/or further funding from the state
Obviously as a 25% shareholder, Sir Jim will have some influence but ultimately the Glazers just want his money. For a start they’ll be able to resume dividend payments
You're welcome my dude. Although, I'm not a miracle worker, I hope I've helped a bit with rescuing your brain from the swamp of despair it seems to consistently reside.
The same sources saying that Joel Glazer is on the committee is saying Ratcliffe will get footballing control.
And Ratcliffe isn't some mug. He wants the footballing control, this has been stated 1000 times, it's astounding why people bury their heads in the sand.
Your essentially saying that the state of Qatar could not afford to buy our club. I know you don’t believe this.
It can’t be both, either it’s a state backed bid or it’s not.
Brailsford will get the club relegated...possibly in a number of different ways. For legal reasons I won't outline them here....but just having a low points total is the least likely route to relegation.
If he has any say in the club, other than a fleeting visit for PR purposes we are doomed.
I suspect his first visit will happen just around the time the Glazers get a Dividend payment.
If he has any say in the club, other than a fleeting visit for PR purposes we are doomed.
I suspect his first visit will happen just around the time the Glazers get a Dividend payment.
I think what's actually happened is the glazers heavily preferred a minority investment. They may have sold the whole thing, but only for an outlandish valuation.
I think now we'll end up with INEOS as the first of a few more minority investors. No single entity is ever going to buy the whole club anymore.
It’s also astounding that people think a minority holder can dictate to majority owners what he can and will control.
He is playing his hand by overpaying for 25%. Glazers still have to agree to it. Given he is seriously overpaying it’s likely a deal can be struck. But it’s not a given.
Like I said, let’s wait and see.
Some fan you are, hoping your own team fails!
25% ownership can be enough to have sporting control if the shares are restructured accordingly. Voting rights isn't one to one, you know this, or at least you should.
As for the "Glazers still have to agree to it", you are correct. But the fact that every credible outlet has confirmed this is the direction of travel I have no idea why you are resting your rebuttal on "let's wait and see".
If that's the case just turn off and come back when you know more? Don't punt on the less likely scenarios and post like they would be the outcomes over what has actually been briefed.
What do you even mean by this?
If it gets rid of the Glazers it obviously wouldnt be failure. How is that hard to grasp?
Any fan should be willing to sacrifice a few years out of European competition if it meant we got competent and invested owners at the end of it.
The only way to peel the leeches off is if the club starts losing market value.
Credible media outlets told us we would be sold by March this year....yet here we are at the end of October "waiting to see".
He’s right though. We have to wait and see. It’s clear that nothing definitive has been agreed at this stage, hence the discussion has even been pulled from today’s board meeting. All we are hearing is INEOS PR - there is no indication, so far, that the Glazer’s are anywhere near agreeing to it.
That’s not going to happen ffs. Final decision will sit with Joel. If SJR wants final decision he will need to fully buy out the Glazers. Until that day comes (and I don’t think it will) Mr 25% is not in charge.
Exactly! It’s bonkers to think otherwise.
Jim's the latest to be played here isn't he?
Fair play to the Glazers though, they've absolutely knocked it out of the park with the way they've got the investment for a small chunk.
Fair play to the Glazers though, they've absolutely knocked it out of the park with the way they've got the investment for a small chunk.
Even if he gets outvoted every time, it's by people equally unqualified to have a say in football matters. Nobody that's earmarked for that committee should be anywhere near making decisions on the footballing side of things.
I'm inclined to agree, the only way for a full takeover will be in stages similar to how Malcom Glazer got the club. This is my only hope for Jimmy Glazer, if he buys up all the A class shares first and eventually buys out the Glazers. But given his valuation, I don't see this happening anytime soon.
Fair enough.
In the event that it is a comittee that requires unanimous agreement I think it's important to note that we don't know what they are deciding on. It doesn't seem likely that they are a transfer comittee, because they are reportedly hiring a new DOF - and he isn't on this comittee. So likely it is a strategical comittee that works on overal strategy and larger decisions than day to day operations? Ratcliffe is a minority owner, so perhaps this is a way to safeguard from a minority owner making decisions that will decrease the value of the club?
I would assume the comittee does? It has all the necessary people to make big financial decisions.
So, a Glazer goes from having very little to do with the footballing side, to being one of 3 on a committee over-seeing football affairs. Lets be honest, they may own the club but never had any interest in the football side, it is a money maker to them.
This gets worse and worse. Hopefully he gets out-voted 2-1 every time IF he can make a decision in less than 2 weeks.
I'll wait for the fine print, something terrible tells me Joel Glazer will have a veto (as majority owner) even if outvoted.
This gets worse and worse. Hopefully he gets out-voted 2-1 every time IF he can make a decision in less than 2 weeks.
I'll wait for the fine print, something terrible tells me Joel Glazer will have a veto (as majority owner) even if outvoted.
Yep. The fact people think a committee could overrule the biggest (?) shareholder at the club is insane. The man is obviously there to ok everything
You think that the Glazer's will leave because United have a bad season or two, how quaint, in case you haven't noticed the team has been having bad seasons most of the last decade.
They don't give a crap about the football, they just want the income it brings and that's not going to drop, indeed the upcoming PL rights deal will likely earn them even more
A very valid point. Neither of these prospective owners has a scintilla of shred of accomplishment in the sporting realm.
Hope is our crutch, and what choice do we have but to cling to hope, but United are truly and thoroughly fukked as an organization that purports to put a competitive squad on the pitch and there’s nothing about the Sir Jim gambit that will change that. But we can hope that luck will be on our side in the future that we can at least compete for a top four spot on an annual basis.
There are solid sources for Joel's involvement - from articles in The Athletic to mentions from the likes of Evra and Ole at various points in recent years. Plus he did speak on behalf of the Glazers after the ESL fiasco so he's clearly the one at the forefront with Avram popping up now and again too.
Obviously we will never know exactly how much influence he currently has on decisions at the club but it is clear that it's a lot more than the days when Fergie/Gill more or less ran the entire operation.
I think the whole idea that the Glazers are going to give up control of the footballing side for just 25% are fanciful at best. Yes Jim will surely get a seat on the board but I do not believe he will be given full control, this idea comes only from media rumours.
It's pretty clear by now that any agreement between Jim & Joel is far from done and probably the negotiation is only just starting on the fine details of how exactly this minority investment deal will work.
You won't find many owners who have
So who will then? Nobody else can afford us now or want to pay way over the odds for the mess unless the cnuts stay and end up selling us for £50 when we're relegated.
Yeah we dont know for sure my my gut reaction thinks this whole deal stinks. Lets wait and see but I just feel everyone is happy. Glazers get to stay, Jim gets a slice and sporting control for peanuts ( in relation to the 6B it would cost to buy 100%)
They'll have clauses to appease the incoming backlash but they wont be triggered you can see the plan from a mile away, it's just a load of scumbags running the club for personal profit. The Glazers were on their knees and they've been given a lifeline to stay.
I mean even the 'leaks' dont get me excited. Brailsford in a top position who's known for cycling and a rumoured Paul Mitchell DoF role, the club is about 5 years behind the curve as usual he's done a crap job at Monaco but here we are.
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Yes and all those bad seasons coupled with covid pushed the Glazers to the point of this strategic review in the first place. And if it weren't for Rat offering to prop them up they'd be forced to lower their deranged valuation.
Being consistently out of Europe would make their financial position even more untenable.
Waving.gif
I mean my posts in here this week could easily be their source.
No, they said Raine were TARGETTING March this year, and then they said it was pushed back.
You are basically saying that against every reliable journalist out there and Ratcliffe's own business acumen, that he'd spunk a minority investment from which he has nothing to gain from a footballing perspective.
I get you want to wait and see, but don't assume the most far fetched scenarios in the meantime.
I think the fact that Ratcliffe's proposal is heading toward a board vote means they have an agreement on the direction. Just because the board vote hasn't yet taken place, doesn't mean we can't insinuate the very evident direction of travel.
What do you mean it's not going to happen? Every credible journalist has said it, and the Glazers are in it more for commercials than to play fantasy football. You can't just bury your head in the sand, the Mr 25% isn't getting you anywhere. That's a huge amount if the 25% consists of the high power voting rights.
Yeah Joel may be on the board, yeah hel have a say, but his influence is severely lowered if the other 2 are INEOS.
Why do they do the things that they do? Can't they just take their billions and feck off?
Every single transfer saga we had had leaks around the Glazers being a bottle neck for decision making. You could see their decision making ability plain and clear during the club sale process. It took flipping one whole year for them to make up their mind.
They're just spoilt rich brats who never had to make a hard decision in their life. Seriously look at the Wikipedia page for what Joel achieved after existing for 50 odd years on this planet.
Every single transfer saga we had had leaks around the Glazers being a bottle neck for decision making. You could see their decision making ability plain and clear during the club sale process. It took flipping one whole year for them to make up their mind.
They're just spoilt rich brats who never had to make a hard decision in their life. Seriously look at the Wikipedia page for what Joel achieved after existing for 50 odd years on this planet.
None of all this crap about minority ownership and who does what, answers the basic strategic review question - where does the new investment for Man Utd come from? I’ve seen comments that even if INEOS are successful in their 25% bid we will still be seeking external investment to fund the club. What in the hell have they been doing this past year!
He wants it doesn’t mean he will get. It also seems that the most important thing for Jim is getting his foot in the door.
Always the fecking way. Glazers didn’t get the PR memo from Jim and here we are.
Jim is a minority shareholder, not even investor. All of this was to deepen Glazers pockets, well done everyone.
Still waiting in this agreed pathway to full ownership details that will drop anytime soon…anytime at all
That's going straight in to the Glazers pocket, they've never put anything into the club it wont start now when they need to pay of their Hills have Eyes looking siblings
So when this deal goes through the club will have the current debt (700m?) and probably a billion of Jims debt which is apparently going to be serviced by Ineos but one way or another United will pay for that even if it doesn't directly come from our accounts in terms of less funding towards the club
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