I think there are clauses in the United company rules that allow you to force a buy-out if you own a certain percentage. Just like the Dad rat did originally.
Club Sale | It’s done!
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A tweet earlier said he plans to invest in the infrastructure and community but hasn't disclosed as it is not relevant to the sale.
Talksport news bulletin again saying that this new bid still doesn't reach £5bn and below what Ratcliffe is offering. This makes me think why bid less than your rival if you want it to be accepted.
And this may be where’s there is some genuine confusion with sterling and dollars currency, if he’s bid $3 billion for 51% then I move the pendulum more to 55/45 towards SJ and Qatar, the whole issue it’s all guess work as they’ve all signed NDA’s and we don’t know the actual numbers. If Qatar have bid as rumoured £5.2bn ($6.5bn) without the additional £800m for club investment which in all honesty has no interest to the Goblin Glazers.
The Glazer siblings would therefore get 69% which would be $4.49 billion, Avram has about 19.87%($892m) and Joel 14.43%($648m) and Darcy 18.96% would get ($851m)
There has been a huge misconception that they were all getting £1bn or $1bn this is not the case they own 69% of the club not 100%, the initial bids are to simple wrestle control away from the parasites and SJR did a deal with the devils had he not done that deal I think the deal with Qatar would have been done.
He helped Brexit to happen if that means anything…?
I wanna buy your house and I will give you 100% of the funds now.
Geezer competing with me will only give you part now and rest in 4 years though it works out more.
Could you make more yourself with that money in the meantime?
Haven't heard anything about this?
Sounds like he won't be doing much then!
Company shares would be restructured incredibly messy and could be held up by the 31% other shareholders, only works if SJR buys the 4 sibling 45% out of voting shares and then 6% of the 24% that Joel and Avram leaving them with 18% not 20%.
Agree. It’s an absolute circus!
They are. No one really seems to know what the figures really are as we are literally hearing a new figure all the time. Now the latest one by Jassim seems to be £5.6bn. Tomorrow no doubt we will see another figure brandished as being this latest offer
Yes of course there is a chance
The naive ones are those who aren't asking these questions
everything is just reports ...
Totally agree and I do not believe SJR has bid £6bn for the club which would value 69% at £4.14bn or 51% at £3.06bn, I think the quote is in Dollars and deliberately leaked to cause Qatar to raise the bid to £6 billion, If Qatar lose they will buy another PL club but I think they will make one final desperate bid next week.
He pledged to build the INEOS Grenadiers in Wales, citing pretty much the same rhetoric he did with his Chelsea and then United bids. The things ended up getting built in France. He left 1000s disappointed with his false promise.
This whole process just fully sums up the Glazers - greed to the last.
They are just playing each other off against each other to squeeze as much milk from the cow as they can……
This process has become a circus….
They are just playing each other off against each other to squeeze as much milk from the cow as they can……
This process has become a circus….
Wow, the more I hear about him...
I personally think it’s not state backed in the way PSG is. But has state approval and out of national pride they won’t let tell Jassim to do one if say for example OT redevelopment comes more then he expects.
It’s likely any involvement the state might have if any, will be in the local development side. I won’t be surprised to find any new restaurants / hotels/ apartment complexes etc end up as part of the Qatar investment fund.
The difference is you buying a house is not known to millions of people and you don't need their support. When the Qatari says they will put 1 billion for the community, they are looking for good PR. You can't do wrong with good PR.
Is it time to reopen pledge for ronaldo's paypal account and rename the entire thing to pledge for United?
If each of us put £10 * 1.1billion fans, we can buy the club. £7b for the club (including £1b for the community, canteen ladies and receptionists). £4b to sign players, all of them. Nobody can stop us then.
If each of us put £10 * 1.1billion fans, we can buy the club. £7b for the club (including £1b for the community, canteen ladies and receptionists). £4b to sign players, all of them. Nobody can stop us then.
It’s genuinely scary when you think forgetting Liverpool and Spurs. They could get so many clubs for way below £1b. Depending on which sooner or later that club will be up there with City.
West Ham, Fulham, Brentford, Crystal Palace and QPR from London.
Bournemouth not a London club but in a part of the U.K. that would appeal to young players and those with families.
Mr Zilliacus, we've been expecting you.
Brilliant
There are quite a few things here you are assuming. One major assumption being made is that class B and class A shares will have the same value. Could well be that there's a break up of that valuation into class B and class A shares and we don't know those details.
Second and more importantly, even if Ratcliffe is offering the 50.1% option, it doesn't mean that he is offering to pay the whole 50.1% value right now. It could well be a staggered payout over multiple years and that is why the 4 Glazers siblings wanting to cash out now are not sure of it.
There is no other reason for the Glazers to want to see if Qatar will up their bid if it was a billion short of JR's offer with all the above parameters being the same. They may not be most savvy, but surely they aren't being led by stupid fecks at Raine. Surely the net value they gain out of both the bids was very close after the third round and that's why the fourth bid by Qatar was even made.
When a late final bid is made outside of deadlines, it's not because of what they read on Twitter or see in sports websites. It is because a negotiation channel has been open between the two parties and there has been extensive negotiations which have gone on. I seriously doubt the Qataris will put in another offer only for them to look like fools if they didn't think it would meet what the Glazers want.
Most people don't understand this, but the Glazers are doing exactly this.
Even if they can get an extra £1M out of the buyer, they'll do it.
In the same way that Joe Public shops around for the highest interest rate in a savings account, to save their money, they are looking for the highest amount possible, from the buyer.
If the figures keep rising, this process will continue for many months.
...and yes, they are incredibly greedy.
so much conflicting information from all these journalists
so obvious a lot are just guessing
so obvious a lot are just guessing
Yeah such complex concepts as sellers looking to start a bidding war are beyond the comprehension of most of us.
Exactly. It's the same as every transfer thread except the journalists have even less of an idea of what's going on. Fans who follow every report on the takeover will be driven mad because a lot of it is guesswork and more is probably one side bluffing.
I think there must be something behind the Qatar bid as well. However, what's stopping the Glazers going back to Ineos to ask whether they'll better it?
The real issue is that there are at least two extremely motivated buyers. It's a good problem to have, especially in this market.
I still think that there is no way a Qatar state-sponsored bid loses out to anyone else.
I still think that there is no way a Qatar state-sponsored bid loses out to anyone else.
I am pretty certain share class has no relation to value, only voting rights.
There are few other things to clear though.
First of all the current market value of Manchester united is $3bn on the stock exchange.
For Qatar bid, 5.5bn (pounds) includes clearing the debt. First question is what is classified as debt. Long term debt or short term debt as well which includes transfer fees outstanding. I assume its only long term debt so in this case each SH will get approx. 5b pounds divided by number of shares (irrespective of class) and all of them get money now now.
In Ratcliff bid, I am a bit confused. So lets say he buys the 51% ownership at a specific purchase price that values the company at 6bn pounds (more than double current market value). The 4 siblings walk away with 3 billion and their shares are now owned by SJR company or himself.
But if the market doesn't agree with the valuation SJR had paid, remaining SH including glazers have a risk of seeing their shares worth less than what the 4 siblings got for. So in case the two glazers wants an exit, they have a risk of exiting at the market determined price, correct?
From a risk reward scenario (unless 2 glazers really feel that in few years we will be valued at 10bn), it makes no sense to accept SJR bid?
Yeah that's the part I don't get about his bid
does anyone really believe Qatar have taken two weeks to bid less than SJR?
Yep.
I have no doubt in my mind that it is a competitive bid, in terms of offering a better price, better deal terms, or both.
Yeah there has to be some incentive to accept
Sounds like a standard Brexiteer then.
why would they do that?
We'll know if Ratcliffe comes in with another offer now. Another increased offer would mean more money as debt on Ineos (based on the initial reports that new debt is there for JR's bid).
I do think we are in the very final stages know either way and when negotiation channels are opened between one specific party it is not to piss them off by doing that with another party immediately afterwards. These are serious businessmen with serious money involved with them having much more clout than the Glazers.
Would the Glazers want to feck with Qatar this way when they know there are other opportunities to be extracted from them than from Ratcliffe. Guess we will soon find out.
I am pretty certain that there will be put and call options set at a minimum and maximum price in offer from JR. No one is foolish enough to leave billions on the table with the potential of that falling drastically without a safe net built-in.
Irrespective of what we are hearing, most of it was just PR, I think the two bids are incredibly close and feels like the Glazers want the money now (not in part payments in the future) unless the difference is drastic. That's why this fourth bid even went in on the basis of negotiations and not on a whim.
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