Who is cersei?
Sun: Kevin Glazer set to sell his stake in Man Utd
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Can the other Glazers load more debt onto the club by borrowing the funds to buy his shares?
If they can, they will.
If they can, they will.
Hope this is the start of others following him.
yea won't the other Glazers just buy his stake?
if they're willing to dilute their family stake by bringing in new investment that would probably be ideal.
if they're willing to dilute their family stake by bringing in new investment that would probably be ideal.
This is speculation, but I have a big problem believing that he was not obliged to offer his Class Bs to the other Glazers before being able to convert them to Class As and maybe eventually sell them. If he does. It should be noted that this is still a big if.
They probably declined and this was the result. And as some other posters on here has already stated: this solidifies the rest of the Glazers hold over United; not the other way around. Even if the equity will be more diluted.
By allowing him to convert his Class Bs the other Glazers actually retain a bigger voting share of United than before and each hold a bigger say over the club; not less.
The real question is, why have they used the Nutty Professor snapchat filter as the photo?
that would make sense, sadly.
Nah, not really. Kevin has converted his B class shares into A class shares so he can sell them off without diminishing the Glazer influence on the club.
Seems so.
Still the less Glazers involved the better.
Easier for a takeover when your dealing with fewer stakeholders?
Easier for a takeover when your dealing with fewer stakeholders?
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Shortly after the old man's death it was rumoured that half the Glazer family wanted out from United, but they would do it slowly. First Michael went, now Kevin, its only really Avram and Joel who have any real interest in United as a Football Club, to the rest its just a 'cash cow'.
Who bought Michael s shares?
You have 347 million USD laying around? Because that's what his 13% is worth as A shares as of 5 days ago.
Even if the stake was bought as B shares, it wouldn't be worth anything in the boardroom as anything than a potential tipping vote, which would never come into play anyway.
The valuation of MUFC is roughly 2.65 Billion USD for 100% control of the club. And that is at a low valuation. In January the club was worth an astronomical 4.2 Billion. The valuation of the club is now at its lowest point since.... February 2017.
That might seem like a huge drop, but the current valuation is not far away from the median since 2012. it's also worth mentioning that the peak valuation lasted around 3 months when share prices went from 26~ USD down to 17~ USD, and it started a steady climb again following the appointment of OGS. Now that results are fickle, valuation drops slightly, but also recovers slightly periodically.
For public shares, valuation is closely linked to: Press (Good/Bad?) and results. Results give good press, good valuation. Bad results the opposite. The A shareholders have a vested interest in short term profits and trade shares by the mood of the day. A lot of noise around a club, good or bad will see a lot of trade activity going on. When stocks are traded a lot, valuation go down due to large movement and a lot of sellers that push the price down. So if enough people want to cash in on their investment, if there aren't enough buyers, prices will continue to drop. Its a bit of a self-devaluation. For example if all the glazers were to sell their shares, it would cause an instant devaluation of the club because of the enormous amount of shares available. Of course this is not a realistic scenario.
The Glazers are pretty bad news for Manchester United since they dont bring new capital into the company, but rather divest existing resources to pay off the debt, resulting in them paying nothing of their own money, but could buy the club by the nature of their enormous creditline, and MUFCs strong market position which made it realistic that the club could carry its financial burden and still comply with FFP. The Glazer family collect share dividends annually, so they are always collecting personally on their investment in the club. All the while MUFC pays off their debt.
Currently MUFCs enormous worldwide brand reach is whats keeping everyone happy. We just posted record financial numbers, even if the pitch results are struggling. The difference between us and Manchester City right now is that whereas we are owned by investment bankers, City are owned by oil billionaires that can afford to play football monopoly. I mean, none of the directors in MCFC collect salaries.
The Glazers collect dividends like all other shareholders. Its not just them and its not much money annually compared to profit and turnover.
The second sentence is not correct. At least not anymore. Our debt has been pretty much fixed since the refinancing and the IPO and is not going to be paid off anytime soon by any owner. Not even the Saudis. There is no reason financially to do so for any owner, not even a unicorn billionaire.
EDIT
I would add that United flagged in one of the earlier quarterly reports that they were opening up for trading the Class As without dividends on the NYSE. The club then wrote in a latter report (think it was Q3) that they were keeping the equal dividends between Class As and Bs for the foreseeable future. With the equity being diluted so much and when you control 95 percent of the voting rights and the control its understandable why the idea of non-dividend Class As was raised. But it would diminish the value of the Class As even more, so I think the Glazers backed off that plan. Instead we have been seeing them selling off their holdings to cash in.
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One Glazer out isn´t really the slogan for any Utd fan..
Is that the same Kevin from Home Alone. Must be true!
If he gets 347M for his 13% then surely that proves Ed Woodward is doing a cracking job , nice bit of profit there .
Home Alone: Lost in Europa
Selling before the massive loss in stockvaluation. Hopefully the rest of the Glazers follows suit.
From the Glazers' perspective, Woodward has of course done a very good job - they will be delighted with him.
From the perspective of fans of the club, Woodward has been a total disaster. The goals of the owners (money) and the fans (entertainment, success) have never really been aligned.
Well what part of 'Glazer family' is hard to understand?
Or is he trying to draw attention to their common ethnic heritage without getting an instant ban? I mean I can't stand the bastards, but let's keep it clean here. We're not Chelsea.
Really hope the others follow suit soon and feck off.
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He works for the Glazers and they own the club so why should he care what the fans think ?
I am absolutely sure that he doesn't care at all.
Capitalism and holism are not compatible unless short term $$$ can be made.
The sister darcie
Two of them have an interest in United as a football club? Doubt it. They don't act like it surely? It's a cash cow for the lot of them - take massive dividends as long as it's viable and then dump it.
Avram and Joel are definitely those that are hands on out of the siblings, but don’t kid yourselves, they are definitely in it for the profit. The only difference is that, as I see it, they are willing to hold it out for potentially even more $.
I think he means that two of them (Avram and Joel) take an active interest in the running of the club. The others (Kevin, Bryan, Darcie, Edward) couldn't care less.
They're not the Lannisters. The Lannisters always repays their debt - the fecking Glazers had us do it for them
Also: #TeamDaenerys4Life.
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Yeah and that's fine. It just annoys me to see what they're doing and how they're allowed get away with it.
Don't know for sure, he was it seems desperate to get out, so the assumption was the remaining Glazer family members bought him out, most probably Avram and Joel, they are the only two that seem interested in the Club as a football club. I believe they are the only two Glazers who understand British 'Soccer'.
Has his shares actually been sold or put a filing for changing them from class B to class A?
That's the irony, if it was only Avram and Joel who held the ownership between them, and not the rest of the family, then I suspect we might see it run more like a football club. The other two remaining Glazers, one brother and the sister, are reportedly more into the American Football with the Buccaneers (Florida I think!)
He has already changed them from B to A shares, looks like he just going for the money, but protecting the Glazer holdings by watering down the voting rights.
Sorry, what I meant is, I don't think he has actually sold them, has he? If he has sold them, would this information be available to the public?
I feel more like Ramsey Bolton's family!They're not the Lannisters. The Lannisters always repays their debt - the fecking Glazers had us do it for them
Also: #TeamDaenerys4Life.
Why are people calling Glazers the Glaziers?
They started out as window fitters, that's how they made their fortune.