The NFL has always been their primary focus. We are just their cash cow. Pretty much why I cannot stand the fact that they might still have some control of the club after all this is done if Ratcliffe wins.
Club Sale | It’s done!
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The NFL has always been their primary focus. We are just their cash cow. Pretty much why I cannot stand the fact that they might still have some control of the club after all this is done if Ratcliffe wins.
What they do need in money to invest into the club though, they simply cannot continue business as usual.
Is SJR going to pile more dept on the club to renovate Carrington and OT? Sounds like it if he’s willing to go a little higher than Jassim for the initial purchase, not to mention he’s also open to the Glazer’s remaining with a portion of the ownership. I’d say he is the bad option. You can‘t blame Jassim if the Glazer’s don’t sell to him outright. He wants 100% and nothing to do with them which is the best option. He knows how much money has to be invested to pay off the dept plus the upgrades to everything else including the surrounding communities. Maybe something has to be compromised in his plan if he has to increase the initial bid to buyout the Glazers completely. Renovate OT instead of rebuild? Lower investment into Carrington or the surrounding communities? Not spend as much in the transfer market or pay of the debt?
Change of control clause
Great post!
Sir Jim isn't giving them over 5bn quid to not have full control is he?
I mean come on.....this is getting ridiculous now. He's the richest man in Britain for a reason. Clearly he knows a thing or two about business. Sir Jim will have full control if he does win this auction I have absolutely no doubt.
The Glazers might well still be minority shareholders but they won't get a say on anything anymore.
It's his way of beating Qatar. However, I don't think this is all said and done. I wouldn't be surprised it the Glazers were willing to give up class B shares in some way.
I'm not sure how easy that is to change though.
I blame Mitrovic. Clearly if he had kept his emotions in check and not pushed the ref, this guy wouldn’t have posted that evil nonsense. The games gone!Yeah, let’s wish death on someone because “emotions are running high”
Nobody is stupid enough to give them several billion quid and allow them to remain in control. Absolutely no chance.
Either way the Glazers won't have a say on anything anymore.
Definitely that lino's fault who elbowed Robertson
This is exactly right. I second this motion.
Roughly 4bn.
They don't if they are minority owners, INEOS are the ones that would be the decision makers and leading any investment.
You have no clue what you’re talking about do you?
So when is the 4th round of bidding?
If the Ineos bid is for 50%, doesn’t that mean the glazers 20% would only be worth what the club is valued for on the stock market.
Before the selling process began, I believe the club was valued at $1.8B so it could dip that low again after the club is sold. If they have their shares transferred to class A shares, they aren’t any more valuable then the rest of the 31% currently on the NYSE. Ineos would have to increase the value of the club threefold for the glazers to make more money than their siblings.
I believe whoever is prepared to buy the glazers out 100% with the highest offer wins.
Before the selling process began, I believe the club was valued at $1.8B so it could dip that low again after the club is sold. If they have their shares transferred to class A shares, they aren’t any more valuable then the rest of the 31% currently on the NYSE. Ineos would have to increase the value of the club threefold for the glazers to make more money than their siblings.
I believe whoever is prepared to buy the glazers out 100% with the highest offer wins.
The way you see it is entirely fictional and only exists in your head. It’s been explained ad nauseum about the debt, the CoC clause and JPM/GS putting up loans and bonds to cover refinancing it. It’s also been explained that the debt can actually be a benefit to INEOS who are a big company and united comparatively are a small company so why would they take money out of the club to pay a debt in INEOS name? You need to take a step back from the emotions and think logically.
My point was they need money to continue running the club
He’s going to own around 60% of the club but freely pay off hundreds of millions worth of debt? I very much doubt it.
But sure I have no clue.
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Sir Jim Ratcliffe and Ineos may have moved ahead in the battle to buy Manchester United after valuing the club higher than their main Qatari rivals.
Although Ratcliffe is seeking to buy only the 69 per cent stake that belongs to the Glazers — and in one proposal is open to Joel and Avram Glazer retaining a stake if he still has full control of the club — it is understood that the offer he submitted before Friday’s 10pm deadline for the third and final bids equates to more than that tabled by the group led by Sheikh Jassim bin Hamad al-Thani, and that Ineos is the only bidder to have valued the club higher than £5 billion.
On Friday evening, sources close to the Qataris said that Sheikh Jassim’s offer was marginally in excess of £5 billion, with a pledge to provide additional investment in the club’s infrastructure as well as playing staff. However, insiders with knowledge of the process have queried that value and suggested that the Qataris have not submitted an offer of additional funds on top of their bid.
This is not the first time the process has been clouded in confusion. After the second round deadline last month, both of the main bidding groups claimed to have submitted their offers only for it to emerge that they had requested an extension.
On this occasion, both offers were tabled within the timeframe set by the Raine Group, the New York bank appointed by the Glazers to sell the club. It is now clear that Ineos is closer to the £6 billion valuation of the owners. It is understood that Ineos’s offer was also higher than the Qataris in the previous round of bids.
This week Raine has asked all the bidders to detail the source of their funds and declare who will ultimately be the owner of United should they prove successful.
Sheikh Jassim, who has formed the Nine Two Foundation to front the Qatari group, is a prominent figure in the banking world with considerable personal wealth but it his father, the former Qatar prime minister Sheikh Hamad bin Jassim bin Jaber Al Thani, who is regarded as the member of his family who could actually write a cheque for the club. He is one of the richest individuals in the Middle East state.
The news that Ratcliffe had presented an option that would enable two of the six Glazer siblings to retain a stake in the club was also potentially significant. United’s complex share structure would make the 100 per cent buyout being offered by Sheikh Jassim more straightforward but the proposal put forward by Ratcliffe and his petrochemicals firm, while unpopular with fans, could yet prove a game-changer in the contest to acquire one of the world’s biggest sports franchises.
It is anticipated that a preferred bidder will be granted a period of exclusivity in the next ten days.
At this stage three American investment firms — namely Elliott Management, The Carlyle Group and Ares Management — should not be discounted even if they are only offering to buy a minority stake that would enable the Glazers to refurbish Old Trafford and the club’s training ground.
But the two bidders looking to complete a takeover have always been considered the frontrunners and right now Ratcliffe, the 70-year-old billionaire who was born in Greater Manchester, looks like he might just have the edge.
Although Ratcliffe is seeking to buy only the 69 per cent stake that belongs to the Glazers — and in one proposal is open to Joel and Avram Glazer retaining a stake if he still has full control of the club — it is understood that the offer he submitted before Friday’s 10pm deadline for the third and final bids equates to more than that tabled by the group led by Sheikh Jassim bin Hamad al-Thani, and that Ineos is the only bidder to have valued the club higher than £5 billion.
On Friday evening, sources close to the Qataris said that Sheikh Jassim’s offer was marginally in excess of £5 billion, with a pledge to provide additional investment in the club’s infrastructure as well as playing staff. However, insiders with knowledge of the process have queried that value and suggested that the Qataris have not submitted an offer of additional funds on top of their bid.
This is not the first time the process has been clouded in confusion. After the second round deadline last month, both of the main bidding groups claimed to have submitted their offers only for it to emerge that they had requested an extension.
On this occasion, both offers were tabled within the timeframe set by the Raine Group, the New York bank appointed by the Glazers to sell the club. It is now clear that Ineos is closer to the £6 billion valuation of the owners. It is understood that Ineos’s offer was also higher than the Qataris in the previous round of bids.
This week Raine has asked all the bidders to detail the source of their funds and declare who will ultimately be the owner of United should they prove successful.
Sheikh Jassim, who has formed the Nine Two Foundation to front the Qatari group, is a prominent figure in the banking world with considerable personal wealth but it his father, the former Qatar prime minister Sheikh Hamad bin Jassim bin Jaber Al Thani, who is regarded as the member of his family who could actually write a cheque for the club. He is one of the richest individuals in the Middle East state.
The news that Ratcliffe had presented an option that would enable two of the six Glazer siblings to retain a stake in the club was also potentially significant. United’s complex share structure would make the 100 per cent buyout being offered by Sheikh Jassim more straightforward but the proposal put forward by Ratcliffe and his petrochemicals firm, while unpopular with fans, could yet prove a game-changer in the contest to acquire one of the world’s biggest sports franchises.
It is anticipated that a preferred bidder will be granted a period of exclusivity in the next ten days.
At this stage three American investment firms — namely Elliott Management, The Carlyle Group and Ares Management — should not be discounted even if they are only offering to buy a minority stake that would enable the Glazers to refurbish Old Trafford and the club’s training ground.
But the two bidders looking to complete a takeover have always been considered the frontrunners and right now Ratcliffe, the 70-year-old billionaire who was born in Greater Manchester, looks like he might just have the edge.
I mean, the glazers not selling at all would be far worse but sure - whatever works for you.
Liverpool are not for sale.
The have to in some capacity
They’re not that bad. Had a couple of quite catchy tunes actually.
Id happily believe it when I see it. If he owned 100% of the club then sure I could see the reasoning but why would he do that when he’s owning anywhere between 51%-69% of the club?
You honestly believe he’s coming in at that percentage and paying off those debts? When he mentioned those debts being paid weeks ago it was long before we knew his plan for the Glazers staying and when we thought his bid was for 100%
Didn’t he just match Boehlys bid?
If Qatar hadn't entered this at all and SJR was the only bidder, I wonder how we would feel about this potential news.
I think Jassim himself is just PR
Made this point several times. People have been well and truly sportswashed by that oil cash. It's so hard to witness tbh.
Sir Jim was the knight in shining armour to most on here before Qatar entered the fold.
I'd imagine the debt payments that United normally make would instead become a transfer payment to INEOS. So yes, indirectly the club would still be responsible for paying the debt, which would be in INEOS's name at a lower interest rate.
There is a lot of speculation Ineos will be bought out before much longer, if that happens then he will be exceptionally cash rich.
I fear you may be disappointed
Thanks for your concern but I'm sure I will manage
After his spokesperson released a statement back in September saying he wanted to work towards eventually purchasing a controlling stake in the club his face was put on the protest banners. Now he’s about to go and do it the same 1958 group are calling him a rat. Tough crowd.
Because he's compromising to keep two Glazers at the club
Whole situation stinks to high heaven.
Jim came out calling them wonderful owners or good people, some shite at the beginning of the year then suddenly he outbids the bottomless pit that is Qatar.
Absolutely shocking that people, in particular certain United podcasts, are trying to pedal him moving the debt instead of clearing it as positive. Also, when the feck was the Glazers staying on in any capacity acceptable!? Shambolic.
Everyone needs to calm down……everything everyone is saying is just speculation.
All bidding and discussions are under a strict NDA (non disclosure agreement) - that means it’s all secret squirrel.
Both SJR and the Qatari’s were told to keep their mouths shut after the first round when they both publicly blabbed about their intentions - that’s why there has been no public announcements from either since. There could well be unknown parties outbidding both?
The bottom line is nobody knows wtf is going on and won’t until Raine Group who are controlling/managing this say something.
All bidding and discussions are under a strict NDA (non disclosure agreement) - that means it’s all secret squirrel.
Both SJR and the Qatari’s were told to keep their mouths shut after the first round when they both publicly blabbed about their intentions - that’s why there has been no public announcements from either since. There could well be unknown parties outbidding both?
The bottom line is nobody knows wtf is going on and won’t until Raine Group who are controlling/managing this say something.
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