Combination of this post and the username bodes really well doesn't it...
Club Sale | It’s done!
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Combination of this post and the username bodes really well doesn't it...
Big call.
Elliot have been raided by investigators:
https://football-italia.net/police-carry-out-searches-related-to-redbirds-milan-takeover/
https://football-italia.net/police-carry-out-searches-related-to-redbirds-milan-takeover/
Glazer’s just have to sell to the best offer for an outright sale. No way can they, the club or a third party minority investor afford a 2bn plus regeneration plan.
If that's the case then why do you think these US investment firms are involved in the process and making offers for a minority stake?
I think they might know a little bit more than you about what is and isn't possible.
US investment firms are never wrong.
I look around this forum and laugh at all the idiots who think they know better than Todd Boehly. The guys a billionaire and you have people on here thinking his strategy of spending half a billion on average players locked into 8 year contracts isn't good
US investment firms are never wrong.
I look around this forum and laugh at all the idiots who think they know better than Todd Boehly. The guys a billionaire and you have people on here thinking his strategy of spending half a billion on average players locked into 8 year contracts isn't good
Boehly had the funds to buy the club and committed to x amount on a stadium redevelopment. His idiotic spending on transfers is irrelevant as to how he bought the club so I've no idea why you're trying to conflate the two.
The investment firms clearly think they can fund Utd through a stadium redevelopment and can make the figures work with the Glazers. They wouldn't be wasting their time otherwise.
They think they can purchase a minority stake in the club and make a profit or loan money to the Glazers and make a profit, neither of those are thr same things as actually making it work in any sense for the club, if they give a big loan for stadium redevelopment and the on field performances deteriorate from lack of on field investment the hedge funds will get their money back plus interest, but the value of thr Glazers shares will decline
Glazers need to sell fast. They need to make space for the incoming owners to have a good transfer window, if they have any small amount of dignity left.
They haven't had ounce of dignity in 18 years
Expecting dignity from the Glazers is like expecting the next hooker you find around the street corner to be a virgin.
You won't remember because that never happened.
Infact I think you're referencing when he called out Charlie Savage midgame and people mistook it for DDG.
HarryP in tears right now
What the feck is going on with this? It's already the end of April and we can't get started on any summer business until this issue of sale is resolved. Hope these feckers sell already and just bugger off.
The longer this drags on the bigger its impact will be on the summer transfer window. We have so many huge decisions to make and I wouldn't want us to be over paying like last summer because we approached players after the season has already started.
The longer this drags on the bigger its impact will be on the summer transfer window. We have so many huge decisions to make and I wouldn't want us to be over paying like last summer because we approached players after the season has already started.
The Glazers are simply trying to feck us over one last time for laugh.
Do you think Arnold manages in series circuit/decision sequence?
They would have done planning half a year ago. The only issue I can imagine is size of the budget and that upper limit will have been determined by FFP regardless.
The only thing that would have varied would the outgoings, after months of ETH's evaluation
Why should he have to pay them thief's an extra 500m. He should be on the phone to Jim saying shall we both reduce are bids by 500 million as we are not going to be able to spend in the summer.
Who is going to finance are summer spend if we do not complete before end of May. Also who will get the money from the transfers, hope its not the leeches. Leaving with another load of money rinsed out of Manchester united.
And you don't think this would impact our summer transfer window? And the outgoings won't impact who we will try to bring in?
As much as they're wankers they're really not trying to feck the club over, there would be zero benefit in doing so.
They are just ensuring they get the maximum they can.
If you're hoping for a smooth transfer window this Summer, then your best bet is the Glazers staying because they will of course just execute their pre planned transfer strategy.
A new owner at this point would lead to a chaotic transfer window because there would be so much uncertainty surrounding the decision making structures.
Yeah it did,have put it in another related thread
I'm not sure we're guaranteed that at this stage - it depends on how the structure will be altered by the arrival of the venture capitalists, it might not be as easy as Arnold picking-up the phone to Avram or Joel to OK a signing - you'd think Elliot/Carlyle/Sixth Street/Nosferatu will want a say on the limited money available within their investment.
At this stage then I can't see how the transfer window can be smooth given how things are.
This has gone very quiet.
The deadline for final round bids is next Friday. Does anybody seriously expect an announcement that a preferred bidder has been chosen to buy the club outright after that stage, ie. within the next week or so?
Not a hope in hell imo. I'd be shocked.
What will happen is that 3rd round bids will be submitted. We will hear nothing back about them for a while apart from a few leaked briefings which suggest that the bids didn't go far enough and the Glazers will likely accept minority investment. And then it will be confirmed at the end of the season so fans can't immediately protest at games and most will be bought off with a few shiny signings during the window.
The deadline for final round bids is next Friday. Does anybody seriously expect an announcement that a preferred bidder has been chosen to buy the club outright after that stage, ie. within the next week or so?
Not a hope in hell imo. I'd be shocked.
What will happen is that 3rd round bids will be submitted. We will hear nothing back about them for a while apart from a few leaked briefings which suggest that the bids didn't go far enough and the Glazers will likely accept minority investment. And then it will be confirmed at the end of the season so fans can't immediately protest at games and most will be bought off with a few shiny signings during the window.
The Athletic did a piece recently explaining how most of the club's credit card debt will be paid off before the end of the season and they will be able to buy players using that mechanism again (max £300m)
The biggest constraint to spending under the Glazers this Summer will be complying with FFP rules and that would be the same for whoever owns us.
But the spending would have to be signed-off like has been the case under the Glazers ownership previously - will they have the same freehand once they've bought-out the siblings? That depends on how the VC investor fits into the structure, which we don't know yet.
Unlikely it'll be the same as before I'd think.
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They're not intentionally trying to feck us over, but that's only because they don't see United as anything other than a resource. I wouldn't have a problem with that if they didn't try to play the "we love United, we do" card during their PR exercises.
Agreed, sadly.
Avram and Joel simply seem hellbent on staying - for all the bad business sense this may appear to make, there are still very many routes they can go down in order to retain their control whilst gaining the financing they want.
I would suspect they will end up going for some kind of complex deal whereby an American fund directly purchases some minority shares from the Glazers who want out, whilst financing Avram and Joel to purchase the remainder. The fund will then also contribute/lend additional capital towards the infrastructure redevelopment. This will of course stack a huge amount of additional debt onto the already eye-watering amount that exists, but so long as the debt servicing figures for this new funding remain below the increased revenues generated from it (e.g. through increased matchday revenue), then the Glazers will see this as a viable option.
In a way, it will be further proof - if we needed it - of the absolute contempt in which the Glazers hold Manchester United fans.
Pretending to dangle a light at the end of the tunnel only to cynically snatch it away again, all for the sole purpose of gaining more favourable rates with which to stack more debt onto our club.
Good god man, don’t encourage him!
They would have planned the summer window under different scenarios a few months back.
Then, I am sure Arnold/murtough would have asked the respective bidders during their presentations about what sort of budget constraints will they have to work under.
They would have planned under various scenarios following that. You don't have a huge transfer team involving a bunch of people (from scouts to data analysts to management staff) in the club sitting around twiddling their thumbs waiting around for one unpredictable decision.
I think it being so quiet is expected, they’ve basically had another round of bidding when one wasn’t really warranted. It’s quiet because not a lot is going to happen or change between now and deadline at the end of the month. All the groundwork has been none, it’s same bidders who will probably only tweak bids if amend them at all.
Process will have to make some form of significant progress after this or bidders will lose interest. But will probably be well into May before start hearing what’s going to happen next.
This is exactly what will happen.
Nobody, and certainly not this goon, has made an argument for Joel and Avram coming out of this with control that doesn't rely upon financiers being uncharacteristically generous or trusting (and/or having done absolutely no assessment) or the Glazers taking a level of deeply uncharacteristic personal risk (in terms of spending their own money or losing control 12/18 months down the line).
As opposed to convoluted hypotheticals, there are people who actually know stuff about finance, both on here and in the media, who've laid out exactly what any of these scenarios are highly improbable. They can't stay on the same terms, they can't borrow significantly on the club, they don't want to spend any (or at least any substantial amount) of their own money (which in any case, wouldn't be enough between the two of them), they don't want to give up control where value is on the line (despite the fact that they're awful, widely discredited 'managers', at least when it comes to the club, who've lucked out with inheritance and PL sponsorship/rights bubbles, even as they've tarnished the brand), and any due diligence has any serious investor demanding control or setting up a glaringly obvious trap to buy out the Glazers at under the value they've currently been offered.
They might be deeply unsuited to owning the club and myopic and overestimating their own smarts, but they're not unhinged. Plus they have far more 'serious' people conducing the process of selling, in whose 'interest' it is to have a sale go through and ideally a full-sale. And all of that doesn't even take into account other inducements (e.g Qatari 'new market' opps, which have been speculated about in various stories, conditional upon them selling whole or controlling stake)
It might not go through (i.e. either full sale, or the remaining Glazers remaining in some form but without any control beyond that of any other normal shareholder), but then again Man City might lose all their remaining games. Neither of those are probable. It's fine to run through the different scenarios but people trying to pointblank justify why they won't 'go' - for all intents and purposes - are either trolling or masochistic.
Best post in here for a while. @HarryP is on a windup but it got boring ages ago.
Actually, what Avram and Joel are hellbent on doing is extracting as much money as possible from Jim Radcliffe or Sheikh Jassim.
The viability of third party investment rests solely on the intentions of the other 4 Glazer siblings.
If they are willing to stay then investment in the club is a possibility. It would require giving up about 33% of the club for the £2bn that would be needed to redevelop Old Trafford and Carrington. To make it worthwhile to the Glazers it would have to result in a 50% increase in the value of the club otherwise they lose out. That is a long term bet that is by no means guaranteed to pay off and even if it does the additional returns probably aren't worth the wait.
As appears more likely, if the other 4 Glazer siblings insist on selling up there is no realistic way the other 2 can remain in charge. Darcie, Bryan, Kevin and Edward collectively own about 43% of United. At the Glazers £6bn valuation it would take approx £2.5bn to buy them out, plus the £2bn needed for Old Trafford and Carrington that's £4.5 bn, more than the current market cap. No one is going to provide that and leave the Glazers with enough stock to remain in charge. Nor is it realistic for Avram and Joel to borrow the £2.5bn needed to buy out the other 4 siblings. Even at low rates of interest, including the debt already on the club, they'd need to find over £100m a year in interest payments alone, and then find £2bn for infrastructure, plus keep on investing in the team they've spent 18 years fecking up. It just isn't happening.
The only realistic scenario here is a full sale, the only question is to who and for how much.
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