Indicates they want to sell the entirety of their shares within 18 months , they want out and they want it soon.
Club Sale | It’s done!
- Thread starter JB08
- Start date
- Status
Everyone should read this.
I'm really looking forward to an interview and hope he can be as frank and open as possible.
Good thread that (assuming it's all correct) - makes a change from the usual Twitter chancers !
Do you have a summary? I don't have X/Twitter so can't view the thread
Well that letter he penned to MUST gives me hope there will be more open communication
I agree. However according to the muppetiers none of the Glazers class A shares can be sold to SJR unless all the goblins agree to it. Which I find it strange really. Why would the 4 siblings who wanted to sell agree to that?
I forgot where I heard it, but SJR might be doing one of Gary Neville's Overlap episodes as well.
I see Jim's wealth increased by 80% in 2023 to $19.4 billion so he can definitely afford to buy the 25% share in the club. He's still got $18 billion left over.
City fans singing the Old Trafford is falling down chant. How foolish must they feel, they clearly haven't read the disclosures.
A very good and exciting read that thread. SJR has definitely done his due diligence and got himself a good deal (and for us going forward I’d say!).
Give it a read if you have 5/10 mins.
Not something they would want to be public info. Indicates some of the Glazers are close to selling.
It'll probably remain being sung by oppos, like the "Who the feck are Man United..?" song. We'll probably start singing it ironically like that one or create new lyrics if things go well.
Each contribute an equal number of B shares meaning some are giving up more than 25% of their B shares and some less.
I think as soon as football control was given up, this was the case.
People are suggesting that a sovereign state may come in, but in 3 years time ( after the US/ Canada/ Mexico, World Cup) there may be another type or entity of buyer entering the fray and that is a company like Apple?
Once UEFA changes the rules whereby one entity can own multiple clubs and play in the same UEFA competition, you most likely will see offers coming in from state-run funds.
This will most likely happen soon.
This will most likely happen soon.
Sadly most of them can’t read. That’s why I donate at Christmas.
If Apple were going to get involved it would be in for us at this point. The club will only grow in value from here and we were very openly on the market, we could have been used in any number of ways to promote the NA world cup as well as a bunch of cross promotional stuff involving MLS. It makes no sense for them to not be involved now if they had any interest at all.
they play at a council house so..
Thanks.
Very interesting read, more in this thread need to read it, as it will likely change opinions for the better.
The theory had been that Joel/Avram wanted to stick for the long term and the others wanted out, this news suggests that's all bollocks and the Glazer siblings still operate as a block
Would be good to get an updated list of major shareholders (assuming this deal goes through) and I have a feeling you are just the bloke to deliver it !
Not enough growth prospects for Apple. Amazon, now they have lost their TV rights in the new bidding round might be a goer, but don’t see why. These companies are seeking much bigger returns than they could make on a football club.
I don't quite get why people feel the need to abbreviate Jim to SJR. That's all I want to say really.
You don’t understand why people shorten his name down to three letters?
I thought that each Glazer could sell their shares when they wanted but those shares would convert to Class A Shares. Due to this being a significant sale of large chunk of controlling shares, requiring board and outside approval, it makes sense the reduction would be split equally amongst each Glazer.
So they lose a little over 4% each which now means no individual Glazer holds more than 15% of the voting rights. This also means at least 4 of them would need to agree in order to achieve over 50% on any decision while as few as 2 could side with Ratcliffe to form a majority.
Can you remind me how many letters are in the name Jim?
Lazine... Can't be bothered to finish it.
Definitely worth a read as simplifies things (for idiots like me), pulls out the important details (that Glazers may well be selling up in next couple of years) and written by a fan…
”Within the first year, SJR will own 29% of the club. Concurrent with that, he will have 18 months to convince the Glazers not named Avram and Joel (collectively referred to from hereon out as, the "super bastards") to sell him 21% of shares, which he can easily obtain by just buying out two of the non-super bastard Glazers.”
Jim who?
Jim R
Sir Jim Ratcliffe and Glazers agree deal not to criticise each other
Condition is part of deal with Ineos billionaire taking a 25 per cent stake in Manchester United
Condition is part of deal with Ineos billionaire taking a 25 per cent stake in Manchester United
Feck, there's a fair bit of number crunching involved in that, but the rough cut would have JR with 29% ownership and 28 to 29% voting power.
Voting power is really in the B shares. He gets 1/4 of 110m B shares upfront and an additional 6m from the 300m investment giving him about 33/116 or 28% voting power. Now a more accurate calc would include A shares but it doesn't really move the dial.
He would own more of the club than any 2 Glazers combined and his voting power would just about equal that of the 2 biggest glazer holdings (and exceed that of the 2 fellas with the biblical names).
Collectively, the Glazers would have about 70% voting power after the 300m investment.
JR would need to acquire about 25m more B shares from them to get to a majority.
The only reason those Class B shares are attractive is their voting power, before this deal Joel and Avram could have maintained control of the club with only 11% ownership so now that SJR is a Class B shareholder if and when he buys out the other four the shares held by the two goblins won't be as attractive because he'd have majority Class B shares.
I think that clause was the only way J and A would have some leverage and it is the one they will use to set a price for the future sale of their shares and get to maintain some decision making power. I am guessing they will tell SJR, "we won't agree to maintain Kevin, Darcie, Edward and Brian's shares as Class B unless you agree to buy ours at $40 in five years, we also want to be consulted on major financial decisions esp dilution of our holdings from hereon in". They won't really want to be passive shareholders after their block is split up.
Once they are finally gone and people are no longer afraid of biting the hand that feeds, we're going to get some interesting stories about these touchy bastards.
- Status