So who are the Red Knights?

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Inigo Montoya

Leave Wayne Rooney alone!!
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Apparently a deal being brokered by Keith Harris.....
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(No not that Keith Harris)

To broker a deal with a group of Utd supporting businessmen to buy out the Glazers.

Speculation mounts. Who could they be?
 
Renowned football finance expert Keith Harris is working with disgruntled Manchester United fans to try and broker a takeover of the club that would end the mounting debt problems imposed by the Glazer family.

Harris, a United fan who has been involved in several takeovers involving Premier League clubs, claims to have spoken to several interested parties as he attempts to put together a takeover proposal to put to the Glazers.

The executive chairman of investment bank Seymour Pierce began working on the project after being contacted by members of the Manchester United Supporters Trust.

"Yes, we have been approached," Harris told the BBC's Football Focus. "We can lend our weight to doing something for the good of United and for the good of football - none of the takeovers that I have been involved in have involved any debt.

"They've been takeovers by people who've wanted to be involved for reasons other than money."

Harris declined to name any of the people who have approached him, identifying them only as "The Red Knights".

"A number of people have been to see me and I've had long chats with them," he said.

"I know there are one or two people in senior positions in the financial services that have access to capital.

"We don't know if the Glazers can be made to listen, but there is serious intent on the part of people who have support in their hearts. The time feels right."

United hold debts of more than £700million - debts which are growing - as a result of the Glazers highly-leveraged takeover of the club in 2005.

While nothing new, the debts have recently re-emerged as a hot-button topic among supporters after the full extent of the growing problems were revealed when the club issued £500million worth of bonds in a re-financing effort.

Harris shares the anger of his fellow United supporters.

"(The Glazers) are playing with an icon of football, one of the most respected brands in the world, and it is in danger," he said.

"Seventy-five pence of every pound (fans) are spending is now going to the Glazers either for themselves or to pay debts."

"If these rumblings become a revolution and (fans) stop going - as difficult as it is for them not to go - and the pounds stop coming in, there is real peril."

When asked for comment by Football Focus, United issued a statement denying there are problems, stating that the club is "most profitable football club in the world".

A spokesman for the Glazer family told the programme they have no interest in selling.

But Harris believes they could be persuaded if the price was right.

"It depends on the Glazers' attitude but we've got to think that their businesses in America haven't done well - nobody's businesses in America have done well - and they're probably highly geared to those businesses.

"If this is an opportunity for them to take money and go then you have to think they would listen to that."
 
Gunnar said:
"Seventy-five pence of every pound (fans) are spending is now going to the Glazers either for themselves or to pay debts."

"If these rumblings become a revolution and (fans) stop going - as difficult as it is for them not to go - and the pounds stop coming in, there is real peril."
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This is what needs to happen for any (potential) takeover to be successful.
 
I hate to be all negative, but there is no way the Glazers will sell the club unless there is a massive profit in it for them.

For this reason, this consortium is likely to fail as to be a non-debt takeoverthey will only be able to pay a sensible price.
 
GaryLifo said:
I hate to be all negative, but there is no way the Glazers will sell the club unless there is a massive profit in it for them.

For this reason, this consortium is likely to fail as to be a non-debt takeoverthey will only be able to pay a sensible price.
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I think it's fair to say the Global Financial Crisis is something the Glazer's never anticipated and is something that has cost them tens, if not hundreds, of millions of pounds. If they can get out with a small profit then they should, and probably will, accept.

As Harris said, their business in the US aren't doing too well at the moment. The money they'd get from the sale of United could help them with their businesses in the US.
 
Clique said:
a 450 million profit for them? considering the situation isn't that a bit much? most businessmen prefer to be quiet for it gets a lot more troubled if the finance is out.

i'm a optimistic fecker and i'm hoping 900 million does it.
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I think it'd take a bit more than that for them to sling their hook. They would want a significant profit in on their investment(I use that term loosely with them) and enough to cover their debts with a fair slice left for them to play with.
 
GaryLifo said:
I hate to be all negative, but there is no way the Glazers will sell the club unless there is a massive profit in it for them.

For this reason, this consortium is likely to fail as to be a non-debt takeoverthey will only be able to pay a sensible price.
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Thats were the fans come in. A disgruntled business consumer is a consumer not worth having. Surely the green and gold is the start of something bigger.
 
Pogue Mahone said:
Aye, that's the harsh truth.
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Probably

Especially if the Glazer stance persists that they aren't willing to sell.

And if it can be shown that the potential investors that MUST are bringing to the table are a clear improvement and the club will be in a significantly stronger financial position, then it will be the only real way the fans can show the Glazers that they want them to sell.

I guess the sooner an offer could materialise the better, as I'm sure some fans wouldn't go to the games, and ok, they've paid their money, so it doesn't really affect the Glazers right away, just shows that there would be a willingness to not renew season tickets...and that wouldn't be good for them
 
Keith Harris's interview was obviously the opening shots to a take over bid. He knows however that getting the yanks to move may be the problem but he obviously has his finger on the pulse of the mood of the fans and he is prepared to use it
 
WireRed said:
I think it'd take a bit more than that for them to sling their hook. They would want a significant profit in on their investment(I use that term loosely with them) and enough to cover their debts with a fair slice left for them to play with.
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I know little about English company law but if the Glazers could take control the club with a leveraged takeover, why can't a similar action be taken against them? Can somebody please give me an answer in layman's terms? Thanks.
 
Moriarty said:
I know little about English company law but if the Glazers could take control the club with a leveraged takeover, why can't a similar action be taken against them? Can somebody please give me an answer in layman's terms? Thanks.
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When the Glazers took us over we were a PLC, the Glazers made us a privately owned company which is harder to buy out if the owners dont want that to happen. The only people that could force their hand would be the banks if they were worried
 
Moriarty said:
I know little about English company law but if the Glazers could take control the club with a leveraged takeover, why can't a similar action be taken against them? Can somebody please give me an answer in layman's terms? Thanks.
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The leveraged bit is just about raising funds through borrowing.

The big difference between buying the club now and the Glazer takeover is that they could buy it out, but by bit, from lots of different shareholders at a number of different share prices. There was no one person, or group of people, with an ultimate decision on the value of the club.

Any takeover now would need to raise a lump sum which the Glazers would be willing to accept. Chances are it will need to be fecking huge, for them to make any profit.
 
Ok this might sound a bit idiotic. But a question never the less.

Suppose the team which wants to takes over pays off the glazers profit whatever it may be. 300 million perhaps and then tackle the loans themselves at a later date.

It would if i'm correct need the loans to be transfered to the club.

Is that possible?
 
Clique said:
Ok this might sound a bit idiotic. But a question never the less.

Suppose the team which wants to takes over pays off the glazers profit whatever it may be. 300 million perhaps and then tackle the loans themselves at a later date.

It would if i'm correct need the loans to be transfered to the club.

Is that possible?
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The club already has the loans in it's name. It's more a case of just repaying the debt to relieve the pressure. As who's to say this new consortium could handle the loans in a more efficient way than the Glazers.
 
It'll be so cool if the Red Knights actually ride into United wearing red armour on horses bellowing "We are the Red Knights, bring forth thy perilous owner for salvation has arrived to bring justice to this land "

Basically this guy.

RedKnight.jpg


and this is their slogan...

red_knight.jpg
 
Right now, anything than the Glazers sounds better. And since the investors are supposed to be United fans, I hope they will also act only in the best way for the club

I hope the Glazers sell. They wanna make a profit out of that? Get the feck outta here!!! For what? Making 700M debt? Taking millions out of the club?
 
Potential 'Red Knights':

1. Jim O'Neill
"Goldman Sachs' chief economist Jim O'Neill, a fan and former director of Manchester United, today said the £500 million of bonds the club issued last week were an unattractive investment."
Goldman Sachs' Jim O'Neill slams Glazer family's Manchester United bonds | Business

2. Paul Marshall
"Paul Marshall, co-founder of hedge fund Marshall Wace and a Manchester United fan, says its time for supporters to combine forces to return the club to the community - debt free."
Manchester United fans should buy the club, says hedge fund star Paul Marshall - Telegraph

3. Fred Done
"Fred Done, one of Manchester United's biggest fans in the business community, says he believes the club is too deep in debt and has declared that he will not be investing in the £500m bond issue launched by owners the Glazer family.
Done the 4th richest man in the North West along with brother Peter made his £510m fortune through the Betfred franchise, which is Manchester United's former official betting partner."
Fred Done: I wouldn't touch Manchester United bond issue with a barge pole - Crain's Manchester Business


To be honest, the fans can protest as much as they want but the Glazers probably dont give a shit. The only way to get them to go is for someone to come up with an offer that they can't refuse (probably £1bn+) so it is very encouraging to hear that some serious businessmen who are also fans might be looking to get involved.
 
I'm probably being my usual pessimist self, but if something like this has not happened for Liverpool, who would be half the price of United, why would it happen for United? Between paying off the Glazers, and taking on the debt, it'll cost more than one and half billion to take over the club. And no fan-based consortium will get that together I'm afraid.

The Glazers are here until their hand is forced by the banks, and the bond issue probably gives them breathing space for another couple of years.

It's going to take the club going into administration, and being available at a knockdown price, to get rid of them IMO.
 
charleysurf said:
I'm probably being my usual pessimist self, but if something like this has not happened for Liverpool, who would be half the price of United, why would it happen for United? Between paying off the Glazers, and taking on the debt, it'll cost more than one and half billion to take over the club. And no fan-based consortium will get that together I'm afraid.

The Glazers are here until their hand is forced by the banks, and the bond issue probably gives them breathing space for another couple of years.

It's going to take the club going into administration, and being available at a knockdown price, to get rid of them IMO.
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Agreed, the club is hampered by it's own value. It will take more motivation than money for a group of investors to put up the kind of money required to buy the club, and they will have to accept low returns on their investment, otherwise the club will be back where they started.
 
If a bid was made, a good one, it would take a fans boycott and maybe the support of Fergie could help.


Also, I doubt the banks are that happy with the finances of the club. They could force the Glazers hand.

A 200 million profit for the Glazers and they would be insane not to take it.
 
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