Finally we have some semblance of confirmation on currency, if SJR has bid as the Telegraph reports of $3bn which is £2.4 billion pounds with the other two Glazers potentially holding on to their £1.2bn with an agreement that their shares could potentially in 4 years be worth up to £1.8bn after major changes Made to Man united under SJR, theand only then would that offer be valued for £6 billion as £4.2bn is 69.5% of £6 billion.
This finally makes sense and is being reported inaccurately by most Uk media, SJ bid now is almost a match with £4.8bn plus £0.8bn for club investment and £535m also available to play the debt.
Debt is not part of any bid, it’s only something that would have to deal with if the new owners take the club off the NYSE which SJ intends to do, this is something SJR does not have to do but it will assist him with Fan approval and conforming to new FFP and FSP rules.
We can now assume that SJ take it or leave it final offer of £5.6bn (£4.8bn) is his one before his actual final bid which will probably be next week as rumours start to become rife that SJR is entering into an exclusivity period then SJ will offer £5.8bn plus £0.8bn plus the debt and it will be repackaged as a £7bn world record bid.
For the record the bids right now look incredibly even matched with SJR still having his nose infront but only marginally because of his desire to get in bed with Joel and Avram. The £4.8bn for 100% is twice the £2.4bn for 51% now we’ve clarified dollars and not sterling.