They don’t give a flying feck, all they care about is how much they will walk away with. So how much are they getting for the 69%
Club Sale | It’s done!
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Not buying this. It’s not like they have to wait to go to print the next morning any more. One click and it’s published online immediately. They then tweet about it to drive traffic to the website.
What it comes down to for me is there is such a clamour and pressure to be first to break new information and claim the story that false information is being passed around and the necessary checks of truth and accuracy aren’t thorough enough.
You can almost see the speed at which this information was pushed out by all the spelling and grammatical errors. There is no proof reading anymore, just hit send and get it online.
In this specific case it’s a business story being covered by sports journalists, so their contacts probably know nothing/very little and they are piecing stuff together as best they can.
Again, Whitwell was at pains to point out this story is outside of his comfort zone, and is a learning curve for him too. This probably goes for all the sports correspondents.
Exactly, so why do people keep making the point, as if it puts Jassim in a better position in the process? Glazers would prefer it if he retains the debt in order to pay them a dollar more.
The levels of disappointment if the Glazers decide to take a minority investment will be palpable.
Don’t know how I’ll feel if this mob stay in charge, will probably take any shine off the season so far.
Don’t know how I’ll feel if this mob stay in charge, will probably take any shine off the season so far.
Yeah I don’t get this at all. It’s like once a journo misreads the situation from a source then everything they produce now is incorrect. It’s not like they’re speaking to their sources on a regular basis either, the interaction could be intermittent.
Well the potential new owners will be saying “we’re not paying you a silly amount for your shares because we’re also taking on your debt”.
It’s like when Chelsea were sold for 50p because the new owner had to take in the millions of debt at the time also.
But from what we’ve seen, the Qataris are offering the most for their 69%
If they were so scared of the fans why were they looking to stay?
To be honest, none of these "sports journalists" who are constantly posting on twitter have any credibility if you ask me. I don't believe anything that they come out with on face value.
Delaney is the worst of the lot and he's gone noticeably quiet on the whole thing, he was blocking people who called him out on his BS. They just post whatever drivel they have to drive clicks to their employers sites.
When there's an offical club announcement about an agreement being reached. That's when I'll start reading more about it. Until then, I won't believe a word anyone else says on the matter.
Nobody said they were scared of the fans. I said you can't say for sure that fan protests wasn't a factor.
I'm not sure how this is even debatable. The fans helped block the super league which the Glazers desperately wanted.
Nobody knows the full reasons why they decided to sell. There are likely many factors. But we definitely can't be certain the fans protesting the super league and getting it emphatically rejected wasn't one of them.
What he really means is that, their usual "reliable" sources know shit all. So the chances of them actually having inside information is so low, they just put whatever shit they have out there and hope it sticks. He's covering their arses by coming out with this nonsense.
Looking down the barrel of state ownership, I feel like this season might be our last chance for ‘legitimate success’ before a takeover. There’s not much that will detract from that for me personally, especially as Erik has had such an impact so early into his project.
I’ve resolved just to enjoy it, and see what happens after the season is over!!
How many rounds are there? are they really necessary?
They'll take as many rounds as they can to squeeze as much out of rivals bids as possible, if they have competing offers of course.
It could easily be just a single if someone rocked up with £10Bn and said "take it or leave it" but unfortunately I'm a tenner short of that number.
You must be new to the world of media.
As many rounds as the various parties want to do before a deal is struck, the Glazers walk away, or the bidders walk away.
There's no firm number of rounds, no firm timeline, no firm deadlines.
Of course they are necessary. They want one side to outbid the other.
I get what you're saying, even though I had more context to that statement. Of course some reporters make shit up. But these aren't the Metro and Daily Star. It is pretty clear that they're getting their info from sources within the relevant parties. Even if those sources give them wrong info (intentionally or otherwise).
I think the Glazers know fully well that they must go, the financials wont be sustainable in the medium term and without the 'get out of jail free card' of cheap debt they could easily bankrupt the club. With a lot of sponsorship deals nearing their renewals they also face a massive revenue drop if they rein in on spending and wages - we could easily drop out of the top six for a sustained period and all our new deals will reflect that reality.
I am sure whoever is advising the Qatari and Ineos will be telling them that this 'don't want to sale' stance is just a bluff and Elliot Management are being used, maybe for a small fee, to keep the prospect of a minority investment alive as an alternative to a full sale but a minority investment doesnt justify walking away from £5b. The future is too uncertain, the league too competitive which means that nothing is guaranteed. All the bidders need to do is be patient and the Glazers will soon have a reality check as I believe, under the circumstances, this is their last chance to cash in and if the last sovereign buyer pulls the plug then Sir Jim will lowball them to hell.
Also the same of the opposite they want to takeover. I would like SJR but am not against the Qatar bid either. It’s very cult like and dividing.
Ah I see Sheikh Jassim made it to the post office. Just need to parasitic ginger goblins to accept a bid now and we’re rid of them.
If I were Sir Jim or Jassim I would stick to my guns and let them contemplate the consequences of going into bed with Elliot because if they are daft enough to do this the club will be available for a much reduced valuation in a few years time after Elliot are through with Joel and Avram.
What Elliot will demand, in this climate, will be impossible for the club to service on top of the other debt being serviced already and that's without keeping the team competitive. If the team loses competitiveness then revenues will also fall drastically and maybe permanently - its not an easy road back from the darkness.
If the Glazers desire minority investment then let them have it and what it comes with. It doesn't solve the fundamental issues that the club is facing because it will simply be used to pay off the want away siblings. They are the ones in a hole but they have managed to turn around the narrative to look like they need to be convinced to sell, that's BS.
Choose your clique man, you’re either with us or against us!
Haha the main aim is to win on the field not in the boardroom.If the Qatar bid wins, does that mean fans will show up at Old Trafford dressed as Sheihks?
Newcastle United are "open to all:" Sheikh costumes are allowed again
The management of the traditional English club Newcastle United has withdrawn the request to its fans to refrain from wearing Arab clothing. “The new owners are overwhelmed by the reception,” announced the Magpies on Saturday.
“Those who wish to support the association by wearing appropriate, culturally inspired clothing should feel free to do so as they see fit. We are open to all.”
Newcastle United are "open to all:" Sheikh costumes are allowed again
The management of the traditional English club Newcastle United has withdrawn the request to its fans to refrain from wearing Arab clothing. “The new owners are overwhelmed by the reception,” announced the Magpies on Saturday.
“Those who wish to support the association by wearing appropriate, culturally inspired clothing should feel free to do so as they see fit. We are open to all.”
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Here's what I don't get about a potential Elliot bid.
Joel and Avram combined own about 33% of the voting rights (of the 69%). If they value that 69% at 6 billion, then to buy out the rest of the family, they need to borrow 4 billion. Why would that benefit them? Even a 0% interest deal from Elliot would still require massive investment in infrastructure and elsewhere to get out of the financial mess the club is in and even THINK about increasing the value of the club.
It just makes no sense.
Joel and Avram combined own about 33% of the voting rights (of the 69%). If they value that 69% at 6 billion, then to buy out the rest of the family, they need to borrow 4 billion. Why would that benefit them? Even a 0% interest deal from Elliot would still require massive investment in infrastructure and elsewhere to get out of the financial mess the club is in and even THINK about increasing the value of the club.
It just makes no sense.
Ironic how they phrased that with those two words next to each other, considering it is also cultural appropriation.
I think the jist of this question has been asked to death already (by myself included), and as yet I've never seen a viable answer.
yeah the numbers don't work for a partial sale
I doubt Qatar or SJR are buying that story either, its clearly nonsense
I believe the 69% is dispersed among all 6 Glazer kids.
Have you ever saw one of those movies were the protagonist sells his soul to the devil? It usually ends up spending most of the film trying to find a way out as its evident that the deal is not worth the sacrifice at all. That's what Elliott are. Their investment will be tied up to the Glazers relinquishing ownership over the club if things go wrong and believe me things will go wrong
Funny thing I see with stuff like this is the only people ever offended is people on behalf of say the Sheikh's in this case..
Saw a video of a guy dressed in mexican garb and the only ones offended were your typical crowd, the mexican people he asked loved it.
Saudis are not even bidding for our club.If the Saudi bid wins, does that mean fans will show up at Old Trafford dressed as Sheihks?
Newcastle United are "open to all:" Sheikh costumes are allowed again
The management of the traditional English club Newcastle United has withdrawn the request to its fans to refrain from wearing Arab clothing. “The new owners are overwhelmed by the reception,” announced the Magpies on Saturday.
“Those who wish to support the association by wearing appropriate, culturally inspired clothing should feel free to do so as they see fit. We are open to all.”
Yeah, it’s South Africa - duh!
So, the rumours were true? Elon Musk too is in the running?Yeah, it’s South Africa - duh!
Yeah 69% is what all the Glazers own, which makes it rather apparent that them pushing for a valuation of £6b is sort of shooting themselves (Joel and Avram) in the foot because that's the valuation that will be used to determine what is due to the other 4 who want out now.
With banks on the rope in the States a lender like Elliot will be demanding something like 10-15% in interests of the circa £2.5b that will be needed to buyout the rest. In addition to the existing debt and first team needs this will be unsustainable and will lead to forced sales of players on big contracts which will kill off the club as a competitive force and affect its ability to generate high revenues needed to service both debts.
Pretty soon, if this happens, we will be in 'the sale and lease' of Old Trafford territory and you wonder how the fans will react to that. In a few years there will be a football regulator and this will drastically reduce the type of owners allowed in the game and possibly affect the shareholding structures of clubs to allow fan involvement in key decisions. All of this will drive valuations down.
If they are in it for the money, this is their last chance of a big pay off imo.
Right, and Joel and Avram have about 1/3 of that combined. Since an article here mentioned that the Elliot financing would be to buy out that other 2/3, that's 4 billion (based on the Glazer's valuation of 6 billion for the 69%). If they actually believe that valuation, of course.
Actually Joel and Darci own the majority. Avi owns less, the remaining 3 much less. Elliot would indeed need to buy at a minimum 50 + percent I would imagine. That's assuming enough Glazers want to sell their shares to meet that thresh hold.
Very debateable.
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