Club Sale | It’s done!

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I said earlier a month ago or so that time is often a buyers best friend.

As long as there’s a bid on the table you can be sure that the seller (handled by the Raine Group) will come back before any deal is done and ask all buyers if they’re still interested and if they’re willing to upper their bid.

Both SJR and SJ are still very much in the front row of this auction until any of the them pull out. In this special case no news (from SJR and SJ) is probably good news.(for us supporters)

I assume that the Raine Group has to inform all bidders if they going to enter a third round who’s the highest bidder (or preferred bidder) and why they want to continue. No serious buyer will just upper their bid without knowing why they have to do it. Maybe they have been told that if they don’t meet the asking price their will be no deal, that’s a possibility, but at the same time if both bidders just stand still without entering the third round then the seller has lost their advantage of steering the bidding process to their advantage.

Both SJR and SJ has already mention this and that they will not bid against themselves without further information.

Ineos for all their wealth has a limited budget if they’re cooperating with Goldman Sachs and JP Morgan. Higher interest rates will affect their possibility to raise their initial bid. I assume that his partners has demanded a few clauses and specific targets that has to met before the they can upper their bid above a certain level. That’s a limitation.

That’s why I think SJ and his NTF has the best chance to win this. He’s not restricted the same way and has more financial flexibility if they has to significantly upper their bid. This is off course a qualified guess from my part but with all the information available it’s difficult to see any other scenario.
 
Woziak said:
The reality is that Man united was only that shiny new red Ferrari two decades ago, now however after the complete derelict of management by the most parasitic of owners, that Ferrari has been left to rust, never serviced and more importantly was highly financed and then refinanced again so now you have a rapidly deprecating asset that you still haven’t paid for in its full entirety and it keeps loosing money.

Why because 10 years ago when it was still at relative optimum power and performance, you could put it on the race track and it would always be in a finish for first or second, always at the top of the grid, never in the second or third starting grid positions.

The owners employed a few poor mechanics who bought the wrong parts for the car and basically left it to deteriorate why the owners kept milking funds from fading sponsors until finally the money ran out and they were left with a Ferrari which was only in name that top brand, rusting, spluttering to drive at top speed it became a vintage museum piece. The owners now desperate to sell and recoup the investment their daddy and banks had paid, thought they would give it a new lick of paint, four new tyres and new horn, to convince the buying world it’s as good as new.

Guess what only a few buyers through nostalgia showed any interest and only offered 75/80% of what the greedy owners wanted, so dissatisfied with this they threatened to stop the sale and vow to come back again when they rebuilt the chassis , suspension and buy a brand new shiny garage to store it. Four of the Six Owners could see this was madness so they jumped at the first minority buyer to offer them money and left the other two to continue the project, for the other 2 only to realise In 12 months they had no money, we’re going to get no money from new stake holders and the car was repossessed , where a very wealthy Sheikh who had offered 80% previously now bought the car for 25% and he vowed to rebuild it from scratch to its original splendour.


My point is the world right now is not somewhere where you go throwing around £6-7bn even if your a Shekh, due diligence is done for a reason and with the huge debt around the club, £5-5.5bn is an incredible offer for the club right now, I see SJ pulling early out next, SJR trying to maybe do a deal with a Hedge fund and offering £5.5bn take it or leave it ?
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They can't though. The haircut down the road on the minority equity The Glazers would need to give away to make it work for them to keep control would be worth almost as MOST of the profit they make on 80% of their asking price sale. They need a full sale. Any investment fund would jump at the chance to get cheap equity to take out the debt here if they had the cash. the Glazers are going to go full sale...
 
I'm at the point with this where as long as the cede control of any decision making, they can stay as minority shareholders, keep taking a dividend (for 2 people, not 6) and just let whoever comes in run things for the next 5 to 10 years until they finally feck off for good.

As long as they're calling the shots we're doomed to be shite.
 
crossy1686 said:
I'm at the point with this where as long as the cede control of any decision making, they can stay as minority shareholders, keep taking a dividend (for 2 people, not 6) and just let whoever comes in run things for the next 5 to 10 years until they finally feck off for good.

As long as they're calling the shots we're doomed to be shite.
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Nah mate, they’ve had their time and they need to go. Any dividends paid out will continue to be a millstone around the clubs neck. We shouldn’t be tempering our expectations now, it’s the right time with big cash on the table to push them out the door. We may never have a better chance.
 
Plant0x84 said:
Nah mate, they’ve had their time and they need to go. Any dividends paid out will continue to be a millstone around the clubs neck. We shouldn’t be tempering our expectations now, it’s the right time with big cash on the table to push them out the door. We may never have a better chance.
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I want them gone 100% but if they are dead set on staying then I hope they stay on someone else's terms and not their's otherwise Ten Hag is fecked and so are our chances of anything. The dividend payout would be less than £9m a season also, which isn't great but it would be better than what's happening now.

I hope they're banished ASAP though.
 
crossy1686 said:
I want them gone 100% but if they are dead set on staying then I hope they stay on someone else's terms and not their's otherwise Ten Hag is fecked and so are our chances of anything. The dividend payout would be less than £9m a season also, which isn't great but it would be better than what's happening now.

I hope they're banished ASAP though.
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I can’t see why they would stay on somebody else’s terms tbh. I think they are looking for investment that sees them remain in charge and I’m not sure they will find it.
I’m hoping they listen to the markets fluctuating when news of them staying comes out and sell while their stock is high. Fingers crossed.
 
Pogue Mahone said:
Just to clear this up. The Glazers made Magnier/McManus an offer for their shares that they accepted. Which is how takeovers like this happen. Shareholders always have their price. Yes, there was a falling out with Fergie over a horse but it’s very naive to think that they would have turned down the opportunity to make a shit load of money on their investment if they were still pals with Fergie. Their main priority in everything they did was always feathering their own pockets. Even at the time it seemed implausible to claim that the Glazer takeover wouldn’t have happened without “horsegate” but over the decades since it’s been completely twisted.
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If anything it's got watered down with the passage of time, much as this was settled with Magnier and McManus before the takeover, I think it's clear this would have had a a fairly big impact of these guys thinking leading up to the Glazers coming sniffing around, they would have been very bitter about having to pay out Fergie the money they did, and to be fair it was a very good way at hitting back at him, if that was indeed the intention.

Rock Of Gibralter was a monster of a racehorse and Fergie must have seen the pound signs, he could have earned a fortune from the breeding fee, so I can't say I blame him, the issue I think was that they didn't think the horse would be that good, and so it wasn't cleared up properly from the start.
 
Ogden is always the doom merchant. Obviously different sources to Jackson and Keegan.
 
C'est Moi Cantona said:
If anything it's got watered down with the passage of time, much as this was settled with Magnier and McManus before the takeover, I think it's clear this would have had a a fairly big impact of these guys thinking leading up to the Glazers coming sniffing around, they would have been very bitter about having to pay out Fergie the money they did.

Rock Of Gibralter was a monster of a racehorse and Fergie must have seen the pound signs, he could have earned a fortune from the breeding fee, so I can't say I blame him, the issue I think was that they didn't think the horse would be that good, and so it wasn't cleared up properly from the start.
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Not sure about the provenance (where it was reported and what it was based on) but weren't there stories soon after that Magnier specifically wanted to ensure Glazers got the club because he foresaw what the outcome was likely to be, especially given the model they were proposing for placing the club in debt and their lack of plan for doing anything progressive with it except milking it, and saw it as a way to spite SAF (whilst making money). Not sure about the exact quote, but something along the lines of 'wanting to find the worst people to sell United to, and by good fortune they were already there'...
 
BluesJr said:
Ogden is always the doom merchant. Obviously different sources to Jackson and Keegan.
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You can tell a lot about a journalist by the media company they keep. Ogden is always lounging around with those ABUs on ESPN. I think we can assume Keegan and Jackson are on the pulse more than Ogden.
 
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