That pretty much sums up my reaction too.
ALL issues relating to the bond issue and club finances
- Thread starter sammsky1
- Start date
- Status
That pretty much sums up my reaction too.
that bit made me LOL
What do you think happens when you do your shopping? Shock horror, people take the money that YOU spend
So although the Glazers haven't kept to there word we are not in any worse of a situation but infact a better one?
Every cloud has a silver lining and all that.
Every cloud has a silver lining and all that.
Can someone explain what is going on in a few sentences? I'm out of the loop. Thanks!
askabob
askabob
Surely they're going to realise that it would be better to feck off sooner or later.
How's what you quoted different to what I said? I don't suggest they've been good so I'm not real fan?
you're missing the word majority, it implies most but not all. you can still be a real fan if you like.
I love when the political correct brigade comes riding and tells whats right or wrong. I'm have no idea what's you are on but I comment on if I think our manager will benefit personally from this IPO, and according the the prospect it looks like that.
I welcome you now back to reality and please jump of your little pony and join the earth.
ha ok. I'll stick to not being a real fan just to prevent future disappointment.
You said that he said something very different. At no point did he ever say you're not a real fan if you don't back them. Which is what most people seem to have read.
Standards of English are declining to abysmal levels.
Better for who? Eventually they'll own an extraordinarily valuable asset which has been paid for by the supporters, among others. I'd say they're like pigs in shit right now.
Uniteds debt stands at 423 million.
Glazers were planning to list an IPO selling useless shares of the club to pay down debts. People thought it had been cancelled.
Today they announce they're selling 10% of the club for around 200-300 million dollars. Of this they plan to keep half and reduce debt by 75.
We are in a better position now then yesterday. We're just nowhere near in as good as a position as we were told we would be.
why not be a real fan who is in the minority?
Glazers originally said the IPO would raise funds to pay down the debt. They made an amendment to the filings with the SEC that changed the plan to pay £75million off the debt (of £425million) and that proceeds of the IPO would not stay within Manchester United.. so they are pocketing everything raised above £75 million and giving shares worth millions to Gill and Fergie as well as other senior staff..
LondonRed's summary of this.
Nobody knows if Gill and SAF are beneficiaries of the float, if they are it would be fecking disgraceful.
Trading under 'Man Utd' .....The majority word will eventually get dropped by him, so the minority won't be real fans anyway. Saves the hassle of having to change at a later date.
Yes, but whether he actually profits from it remains to be seen.
Gill will, certainly. Hopefully Phelan too..maybe he'll buy himself a decent suit.
Literally the smallest and most inconsequential bit of news from all this.
Of course they will. If its an incentive scheme it makes perfect sense to use it to 'incentivise' 2 of the most important men at the club.
So out of the whole IPO, you found this to be the thing to get outraged over?
From what I understand, thats what it is.
I'm struggling to get fake mad.
The debt will be down to 350m. The club announced a crazy shirt sponsorship deal earlier.
But the owners who are running the club for profit and taking some money out. shocking.
Of course they are, do you really think Fergie especially would really stand for millions of shares being given out around to various employees and not himself?
Same goes will Gill.
Why?
It's the Glazers selling part of their ownership. Would you prefer they keep 100% ownership? Because unless you do then what will be materially worse about Uniteds situation compared to before this IPO?
A decent suit? Let's just start with a pair of shorts that fit.
Ramshock's a charmer, isn't he?
Two posters raising perfectly legitimate points and he rolls in calling people cnuts and demanding bans.
Two posters raising perfectly legitimate points and he rolls in calling people cnuts and demanding bans.
That part of whether Fergie will profit from this flotation is also covered by LondonRed
Excellent summary. Its not all bad news. Its just not as good news as we hoped.
People complaining about the likes of Fergie and Gill getting shares is silly.
Yeah. Didnt the guy who painted the facebook offices get % of their shares instead of money. He's a multi millionaire now.
Has LondonRed been demoted to the newbs? Why isn't he posting here? He seems to confirm that the Glazers are selling their own shares.
because it could be perceived as a way of ensuring their support for the Glazer ownership, whether thats the best thing for the club or not.
All it really is is incentive for the management team to do well.
http://www.thedailybeast.com/articl...e-facebook-s-millionaire-graffiti-artist.htmlIs that true? Lucky sod.
I'm still struggling to see how this is bad news..
Isnt all the money from the non voting shares going to repay the debt?
Glazers are getting some money by selling their bit too. So?
Please correct me if I'm missing something.
Because we were lied to?
Because the money we thought was being raised to pay down the debts is actually going to a couple of rich fecks who couldn't give a shit?
Because the club is still in over 300 million pounds worth of debt?
You're not missing anything.
Well its a disappointment. The original prospectus said only 10% of the offering would be existing shares and the rest would be fresh shares which means that the club would get 90%. Now its down to 50% minus the fees and commissions.
The valuation is interesting. Its much higher than I expected but there's some big names associated with the offering so I assume they've done their homework and there's some serious demand.
- Status