Given up on Ratcliffe dropping out and just hope that Jassim still ends up being successful bid
Club Sale | It’s done!
- Thread starter JB08
- Start date
-
In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
- Status
It seems to me that the lack of further press leaks strongly suggests the auction phase has finished. The straws in the wind point to Qatar having won and I would be surprised if that were not the outcome. I imagine the delays are due to some bickering and wrangling of the kind you'd expect with two such unsavoury parties.
I saw some of this interview on the Stretford paddock and then just switched because he was going round in circles. He said "all parties still involved, there a chance for Sir Jim to raise his offer, it could take weeks or months to complete," but he somehow thinks we are in the "end game."
Absolute garbage!
As some are on here are now saying lock this thread for a period of time and give everyone a break. Even Nic on the United Hour podcast said he has spent too much time arguing with someone on this discussion recently.
Absolute garbage!
As some are on here are now saying lock this thread for a period of time and give everyone a break. Even Nic on the United Hour podcast said he has spent too much time arguing with someone on this discussion recently.
Yeah think the time has finally come now
Oh yeah there is clearly bickering between members of Glazer family and wrangling in order to get as much as possible
Was hoping for some good news today.. Nah, who am I kidding? 
Time to get some sleep and dream about the sale instead. At least then I get some action.
Time to get some sleep and dream about the sale instead. At least then I get some action.It only takes one matchstick to start a forest fire.
It's also interesting to observe what trees gets noticed in a forest. It would be the woke SJW virtue signalling trees, in your case. To your credit I can't remember you going '****' yet, so at least that's something.
Sir Jim Watcliffe.
You really like playing the victim, don't you. Give it a rest.
I'm fascinated by how your mind works.
They poisoned our water supply, burned our crops and delivered a plague unto our houses.
Not for the lack of trying... The missus just ain't into it. Unless we are talking about something else?
Nope, I'm happy with this.
She’ll come around.Not for the lack of trying... The missus just ain't into it. Unless we are talking about something else?
So, Nice, eh?
Will be nice of her
Sir Jim is not proposing a leveraged buyout so the recent Premier League its will have no impact on his bid. All debt he uses to buy the club, if successful, will be on INEOS.
I dont want to assume but I think its pretty safe to assume were not signing anybody until we have new owners. The Mount stroy was yet again embarissing
Why is it embarrassing?
Safe to assume this is bollocks, unless you think we're just pretend bidding for players? Weird take on the situation.
i think its safe to assume the opposite
Glazers putting a block on transfers now only hinders them.. as the buyers won't want to go into next season short on key positions the manager needs
Because for a club of our status 55 mil or 62 mil should not make much of a difference
Or they just decide to milk the club yet another season with no intention of investing?
They’re an extremely hard family, who’ll never give in to any level of pressure so it seems. Interestingly though the only time I remember the Glazers ever showing any sign of contrition was after the SuperLeague debacle, when Joel sent out a statement of apology to the fans.
Last edited:
that would be even more idiotic
Probably because that’s the only time United fans actually got violent, stormed Old Trafford and got a game cancelled. Let’s just hope it happens again if they keep stalling the sale. It’s gone on long enough now.
A bit of repetition but not much is going on.
Runners and riders, the final furlong, hopefully.
SJR
Willingness to buy
100 %, fan, localish, personal legacy - something to be known/remembered for - Jack Walker style
Ability to buy
Relying on an assortment of finance, bonds loans - leveraged against his existing company INEOS. Attempting financial acrobatics with ownership structure
Current position
Appears behind, needs to up/improve bid, but complicated
Issues - may need time but he can deal with complicated.
Issues
Ownership model with Glazers remaining
Will upset class A shareholders
Media
The Times
Little to nothing new reported in the last week.
Indicates that matters are delicate.
SJ
Willingness to buy
100%
Stated as a fan.
If true then, like many of us, would 'dream' of owning the club in some way.
Ability to buy
Has financial muscle, it is known that persons from those regions have significantly underestimated wealth.
But, questions over state assistance (Emir also being a United fan).
Current position
Leading and will be pushing hard in tying up the exclusivity agreement.
Media
Mike Keegan - The Mail
Quiet last week suggesting everything is sensitive, at this stage.
Issues
Not a great deal is known about him.
State funding and all that brings.
Glazers
Willingness to sell
100% (will need to sell now or very soon)
Since placing club on NYSE, selling 10% of the business, they have taken out hundreds of millions via regular share sales, 20% subsequently.
Now their holding is down to the majority owner threshold of 2/3s, and they can't sell much more, mere 3 percent left (still vast sums but some siblings have sold and may have nothing to little else to sell - assumption being that they all have to agree to the sales to preserve the family majority ownership of the business).
They have, so far, sold off 30.29% of the club (all the figures are a bit rough)
They need to hold onto 66.66% (2/3).
Therefore 3.05% left is left before the magic 2/3 ownership is reached (to retain the quorum) – value of each share being $14 (normalish value range) meaning they could raise $45 million and then that is it, no more dilution ($45 million divided by 6 siblings being £7.5 million each or whatever they agree or are due according to their internal agreements).
Dividends have dried up and can barely be justified, financially.
Current position
Have a bid that meets most of the requirements, SJ’s bid.
However willing to give SJR an opportunity to improve his bid but he will have been told that the incentives are time driven by SJ.
Issues
Universally unpopular
Have run the club into the ground – no intention to invest in Old Trafford or facilities – there is no short-term return for the vast capital injection required. That injection, via an investor, can only be dumped on the club as a loan, no intention of simply investing in the club because that benefits the other 30% shareholders (theoretically).
Their finances (have used the club as a cash cow). Generally little immediate return in the club
Can take equity share sale, via Investment Funds, but the costs are high and long term not worthwhile, unless the club’s value is guaranteed to go through the roof – otherwise the investment funds are not really a true option.
Class A shareholders, who appear to have been poorly served may take legal action if the Glazers fail to compensate them. Those institutional shareholders are hardnosed business entities. They can afford the costs of litigation. This will concern the Glazers - it would be battle against equals and played out publicly. Their period of ownership, being the focus, and their failings forensically debated – they will look very bad.
Possible action against the Glazers- misrepresentation
When the shares, Class A, were originally sold, they were touted, according to the original sales prospectus, as having equal value with Class B shares. Despite that premise it is obvious that Class B shares command greater worth than Class A shares.
Breach of fiduciary duty
Glazer’s have governance of the company, but they appear to be running it only for the Glazer family benefit and not in the interest of all the shareholders, therefore breach of their fiduciary duties.
Side point, even the transfer window, appears to an apparent sham, they have to look active (serving the needs of the company) but will do the minimum.
Media
Raine released a story, via Reuters, only reason for this is to send a loud message to SJR, last chance saloon.
Prediction
Based on hope, sale statement next week, unless SJR comes up with something that needs consideration. Media silence has to break.
Runners and riders, the final furlong, hopefully.
SJR
Willingness to buy
100 %, fan, localish, personal legacy - something to be known/remembered for - Jack Walker style
Ability to buy
Relying on an assortment of finance, bonds loans - leveraged against his existing company INEOS. Attempting financial acrobatics with ownership structure
Current position
Appears behind, needs to up/improve bid, but complicated
Issues - may need time but he can deal with complicated.
Issues
Ownership model with Glazers remaining
Will upset class A shareholders
Media
The Times
Little to nothing new reported in the last week.
Indicates that matters are delicate.
SJ
Willingness to buy
100%
Stated as a fan.
If true then, like many of us, would 'dream' of owning the club in some way.
Ability to buy
Has financial muscle, it is known that persons from those regions have significantly underestimated wealth.
But, questions over state assistance (Emir also being a United fan).
Current position
Leading and will be pushing hard in tying up the exclusivity agreement.
Media
Mike Keegan - The Mail
Quiet last week suggesting everything is sensitive, at this stage.
Issues
Not a great deal is known about him.
State funding and all that brings.
Glazers
Willingness to sell
100% (will need to sell now or very soon)
Since placing club on NYSE, selling 10% of the business, they have taken out hundreds of millions via regular share sales, 20% subsequently.
Now their holding is down to the majority owner threshold of 2/3s, and they can't sell much more, mere 3 percent left (still vast sums but some siblings have sold and may have nothing to little else to sell - assumption being that they all have to agree to the sales to preserve the family majority ownership of the business).
They have, so far, sold off 30.29% of the club (all the figures are a bit rough)
They need to hold onto 66.66% (2/3).
Therefore 3.05% left is left before the magic 2/3 ownership is reached (to retain the quorum) – value of each share being $14 (normalish value range) meaning they could raise $45 million and then that is it, no more dilution ($45 million divided by 6 siblings being £7.5 million each or whatever they agree or are due according to their internal agreements).
Dividends have dried up and can barely be justified, financially.
Current position
Have a bid that meets most of the requirements, SJ’s bid.
However willing to give SJR an opportunity to improve his bid but he will have been told that the incentives are time driven by SJ.
Issues
Universally unpopular
Have run the club into the ground – no intention to invest in Old Trafford or facilities – there is no short-term return for the vast capital injection required. That injection, via an investor, can only be dumped on the club as a loan, no intention of simply investing in the club because that benefits the other 30% shareholders (theoretically).
Their finances (have used the club as a cash cow). Generally little immediate return in the club
Can take equity share sale, via Investment Funds, but the costs are high and long term not worthwhile, unless the club’s value is guaranteed to go through the roof – otherwise the investment funds are not really a true option.
Class A shareholders, who appear to have been poorly served may take legal action if the Glazers fail to compensate them. Those institutional shareholders are hardnosed business entities. They can afford the costs of litigation. This will concern the Glazers - it would be battle against equals and played out publicly. Their period of ownership, being the focus, and their failings forensically debated – they will look very bad.
Possible action against the Glazers- misrepresentation
When the shares, Class A, were originally sold, they were touted, according to the original sales prospectus, as having equal value with Class B shares. Despite that premise it is obvious that Class B shares command greater worth than Class A shares.
Breach of fiduciary duty
Glazer’s have governance of the company, but they appear to be running it only for the Glazer family benefit and not in the interest of all the shareholders, therefore breach of their fiduciary duties.
Side point, even the transfer window, appears to an apparent sham, they have to look active (serving the needs of the company) but will do the minimum.
Media
Raine released a story, via Reuters, only reason for this is to send a loud message to SJR, last chance saloon.
Prediction
Based on hope, sale statement next week, unless SJR comes up with something that needs consideration. Media silence has to break.
No matter how pissed off every one is regarding this saga imagine if you were one of the bidders, how annoyed must they be?
It’s got far beyond a joke now with the transfer window open and nothing doing, not so much on players in but players out, we all know for instance how much the Glazers love Martial, for the life of me I just don’t understand why the cnuts are been so obtuse in this, it’s as if they are enjoying seeing the frustration from us fans, in fact that is the only reason I can see, the Glazers truly are the blood sucking leaches from hell.
It’s got far beyond a joke now with the transfer window open and nothing doing, not so much on players in but players out, we all know for instance how much the Glazers love Martial, for the life of me I just don’t understand why the cnuts are been so obtuse in this, it’s as if they are enjoying seeing the frustration from us fans, in fact that is the only reason I can see, the Glazers truly are the blood sucking leaches from hell.
That's only this thread - there are several others with the same repetitive broken record postings from Chief WUM
I think that's probably true of us all.
Exactly, even digital clocks once they get past 24 go right back to zero.
It seems that time and the Universe like this thread is stuck in an infinite loop.
We 100% start next season with the Glazers still in charge.
Indeed, the media know United fans fall for any negative transfer news hook, line and sinker every time.
My opinion has changed a bit. I still fully expect Qatar to win, but I've got fears they'll be a bit of a mess once they're here, whereas before I thought it would be a lot more regimented. It's not exactly been a tidy operation. Hopefully that's more to do with the Glazers though.
Absolutely, they’re the owners and have more front than Selfridges.
Ye there isn't much else to say at the moment that hasn't been said already - we have had no meaningful updates for 2 weeks since the apparent 5th bid and even that was just GroundHog Day
I also switched off the Reuters bloke's interview who covered every base like many others before him
But no point in locking the thread as there isn't much else to chat about, apart from equally worthless transfer rumours, at this time of year!
I expect Qatar to win as well but I'm the same I think it could turn into a shit show quickly. In my opinion they haven't ran PSG well at all and of course in the unlikely event this is a private endeavour then Jassim has zero experience running any football clubs at any level let alone one of the world's biggest.
They turned psg into a club that never wins anything into serial winners that have got way closer to winning the champions league than we have.
Far from perfect but people should look where PSG were before they got took over there seems to be a belief they were one of the the top teams in France prior.
Clown show over neymar and messi not great but they were as much to generate interest and eyes on the club, then the players themselves.
- Status