Club Sale | It’s done!

[Rojofiam]

You do know what an NDA is right ?

Originally people perceived SJR bid to be up to £6bn it wasn’t and he had made a £3bn bid for 51% that was later proven to be $3bn not £3bn, I think SJR was in the lead but right now things are much more closer probably at 50/50 based on other factors which you not I are privy to, this isn’t about who wins its just about removing the Glazers and asap without fans getting on their high horse to support either SJ or SJR for the last time I don’t care who wins just as long as The Glazers leave preferably all of them right now at once but if we have to keep 2 to start the process, I’ll take that too!

First of all, there have been leaks even though NDAs are in place.

Secondly, I wouldn't be willing to taint this football club forever just to get the Glazers out, and that's where we are not the same. You're okay with Qatar, I will never be okay with them. I'd take relegation over state-ownership.

 

[Adnan]

The article is somewhat interesting in the way it is structured, it tells more about the dynamic between each parties than anything else. From what I understand:

- Sheikh Jassim isn't directly involved in the talks with the Glazers or Raine, he lets his negotiation team handle these.
- Sheikh Jassim asked Al Khelaifi's opinion on the Glazer's evaluation of the club which is 8b$.(We don't know what Al Khelaifi opinion was)
- Al Khelaifi was then contacted by the Glazers in an attempt to convince him to talk to Sheikh Jassim.
- Al Khelaifi met the Glazers in Florida this week.

Who is Al Khelaifi working for, the Glazers or Sheikh Jassim? If we believe Ornstein, the Glazer learned that Al Khelaifi had Sheikh Jassim ears and they are trying to use it to get more money, seemingly without success.

Thanks for the summary.

It's interesting that Ornstein is reporting about Khelaifi meeting the Glazers in Florida this week.

 

[Nou_Camp99]

Yeah they want us staying where we are

Why would they want the biggest club in the land with by far the most fans having what they perceive as bottomless pockets and endless wealth?

Of course they should all be against it. They'd be daft not to be surely?

I'm against it despite what advantages it may give us purely because I don't agree morally and ethically with any of these oil clubs.

 

[dpansheth]

This was retweeted by James Ducker. It seems the class A shareholders want to cash in as well and take advantage of the reported premium being offered on each share.

who doesnt want 30-50% premium in a matter of months.

 

[UnitedSofa]

the article was posted but ignored. This could be a problem for Jim.

Probably ignored because of the source

Wasn’t ignored, just discussed hours ago and it’s got lost in a sea of meat

 

[mu4c_20le]

I agree, and I also think there is zero chance Glazers are waiting three years for an additional 3/4 of a billion. What’s the point?

To make an additional 3/4 of a billion?

 

[DOTA]

One hedge fund looking in to whether they can do anything doesn't strike me as a terribly real concern.

 

[RedDevilUnited369]

To make an additional 3/4 of a billion?

Why though? they could make more than that on new investments.

Might even make more than that on interest with money in the bank today.

 

[Adnan]

James Ducker: "With Sir Jim Ratcliffe’s rival majority offer being seriously considered, there are also said to be some rumblings of discontent among other United current shareholders. The Ineos approach effectively only includes a deal with the family and not the minority investors. As a result, one hedge fund with a large stake in the club is making legal preparations in case Ratcliffe launches an offer that involves only buying the Glazers’ super-voting Class B shares, the Reuters news agency reports."

"Hedge funds were said to be studying past precedents under Cayman Islands law, where Manchester United is incorporated, to figure out how they might build a case against any manoeuvres by the Glazers or Ratcliffe"

 

[Woziak]

First of all, there have been leaks even though NDAs are in place.

Secondly, I wouldn't be willing to taint this football club forever just to get the Glazers out, and that's where we are not the same. You're okay with Qatar, I will never be okay with them. I'd take relegation over state-ownership.

Assuming it’s true that Sheikh Jassim will stop negotiating tonight and will then leave the offer on the table as “take it or leave it”…

How are the Glazers and Raine going to drag it out? They can’t continue an auction then

As I said I would prefer a compete SJR buy out not one that keeps the two stooges on our board still making shite decisions that have practically run the club into the ground, give me a full SJR bid and we all celebrate but he’s far too in bed with two of the Glazers and this for me and most united fans is simply not tolerable!

 

[Spoony]

If it's going to be an issue then surely Ratcliffe could change his bid?

 

[JPRouve]

Thanks for the summary.

It's interesting that Ornstein is reporting about Khelaifi meeting the Glazers in Florida this week.

I misread that part, he doesn't mention when the meeting occured but he says that Al Khelaifi is(not was) acting as an advisory. This week was referring to the last bid from Sheikh Jassim.

 

[Rojofiam]

As I said I would prefer a compete SJR buy out not one that keeps the two stooges on our board still making shite decisions that have practically run the club into the ground, give me a full SJR bid and we all celebrate but he’s far too in bed with two of the Glazers and this for me and most united fans is simply not tolerable!

You have zero idea whether the Glazers will be allowed to have a say in anything. Zero. Yet you're telling us like it's a foregone conclusion.

In all likelihood they won't have decision-making power.

 

[mu4c_20le]

Why though? they could make more than that on new investments.

Might even make more than that on interest with money in the bank today.

What is this secret money making trick!

 

[Adnan]

I don't believe Avram and Joel want to stay. I think they want a full sale and it's being made to look like they want to stick around.

 

[united_99]

Mr PSG if he is/was indeed acting as an advisor to invisible Jassim may have also told him to just buy another PL club instead for much less money and leave United alone

 

[RedDevilUnited369]

What is this secret money making trick!

Oh I don’t know, if I had £1b sitting in the bank, I might buy some real estate, build amenities and entertainment venues. I may even invest in Qatar tourist areas which they’re promoting right now…I’m sure I’d see a return within three years.

Hell, I might invest in Ineos…they just announced future tech to lower CO2 levels today.

 

[red thru&thru]

I'm fairly neutral and just want the Glazers gone (and a few other things that I'd get banned if I said)

Yeah I see the point that a full transaction is simpler, but wouldn't the aftermath of an agreement with Sheikh Jassim be much more complicated? The approvals they'd need etc could take some time and he'd have a much higher chance of being denied, by which point Ineos may have either walked away or be in an excellent negotiating position to get the price lowered.

Ineos already own football clubs and other sports club, with Sir Jim having attended United games in his younger days he probably won't have much to prove in his reasons for buying the club. All in all, I'd imagine the approval side of it would be quite straightforward once the negotiations are done

In what way Sheikh Jassim be denied?

 

[red thru&thru]

The only thing the Glazers care about is who is offering more money for each of their shares. Jassim's bid doesn't do that.

Why does it not?

 

[Nou_Camp99]

Why does it not?

In the same way 80p isn't as much as 90p. It's less.

What's to be determined is whether the Glazers want to accept slightly less but cash upfront from Qatar or sell it off slower and try and squeeze out more money in longer term.

 

[Amsterdam Devil]

There's zero chance either Ratcliffe or Qatar would be daft enough to buy a majority of the club and not secure a controlling majority of the voting rights. That's the whole point of either of them buying the club.

And it isn’t true, has been proven wrong since:

 

[Mercurial]

You have zero idea whether the Glazers will be allowed to have a say in anything. Zero. Yet you're telling us like it's a foregone conclusion.

In all likelihood they won't have decision-making power.

At 50.1% you won't have a super majority. 2/3 needed, they will have a say on quite many issues unless contractually waved.

 

[Zed is not dead]

I don't believe Avram and Joel want to stay. I think they want a full sale and it's being made to look like they want to stick around.

Funny that NAK is Qatar’s go-to guy for sports and football related topics, when you know how he actually runs PSG.
His involvement actually frightens me…

 

[Spoony]

And it isn’t true, has been proven wrong since:

Surely they must've known this. Then why pursue it? The whole affair has been bizarre.

 

[red thru&thru]

In the same way 80p isn't as much as 90p. It's less.

What's to be determined is whether the Glazers want to accept slightly less but cash upfront from Qatar or sell it off slower and try and squeeze out more money in longer term.

But what is the percentage of the shares do they hold? How much is SJR buying and how many is Sheikh Jassim buying?

 

[LordSpud]

Tweet got deleted yo

 

[Rightnr]

The possible legal case of the Class A share owners somewhat puts a spanner in the theory that you can just ignore the class A shares and massively overpay on the B shares.

If the legal case is halfway feasible, it massively complicates the Ratcliffe transaction, so I can see why Qatar are preferred.

 

[Sviken]

I don't believe Avram and Joel want to stay. I think they want a full sale and it's being made to look like they want to stick around.

This whole thing seems like a fish and bait for the Qataris to bid more money. These reports about Sir Jim acquiring the club at any moment at ever increasing prices doesn't seem realistic.

 

[Nou_Camp99]

But what is the percentage of the shares do they hold? How much is SJR buying and how many is Sheikh Jassim buying?

Glazers own 69%.

Jim is believed to have two offers on the table. One where he buys their 69% and one where he buys 51% and leaves them with a small percentage for the next 2-3 years before buying them out fully. The latter rumoured to be their preferred bid of the two.

Qatar's only offer we know of is for the full club. So that's 69% the Glazers own and the other 30% on the NYSE.

Under Qatar's offer the price per share works out slightly less which is why INEOS are still in this. Qatar would be handing more money over in total but they'd be valuing the club at a lesser price.

 

[Water Melon]

If Jassim wins, I hope each and every poster, who in this case promised to be done with the Club and football altogether, fecks off. Same applies to each and every poster who promised to stop supporting the Club in case Ratcliffe gets us. The caf will be a much better place in either case.

 

[red thru&thru]

Glazers own 60%.

Jim is believed to have two offers on the table. One where he buys their 60% and one where he buys 51% and leaves them with a small percentage for the next 2-3 years before buying them out fully. The latter rumoured to be their preferred bid of the two.

Qatar's only offer we know of is for the full club. So that's 69% the Glazers own and the other 30% on the NYSE.

Under Qatar's offer the price per share works out slightly less which is why INEOS are still in this. Qatar would be handing more money over in total but they'd be valuing the club at a lesser price.

What percentage of the A Class shares do the Glazers own?

 

[Rhyme Animal]

If Jassim wins, I hope each and every poster, who in this case promised to be done with the Club and football altogether, fecks off. Same applies to each and every poster who promised to stop supporting the Club in case Ratcliffe gets us. This place will flourish.

Likewise - though I didn’t hear anyone saying they’d stop supporting if Rat won.

But there were plenty saying if Jassim buys the club they’re done.

 

[ForeverRed1]

I don't think united need state money to compete. A good structure with no debt would be enough. Will INEOS do that?

Doesn't look likely but if they were to clear the debt I think it would ease a lot of fears and animosity towards Jim/INEOS. I get that some people want Qatar involved as it looks like they may invest heavily. I want to see united at the very top but as long as we get rid of the Glazers now or in three years I'll be reasonably happy.

the thing is in three years city will probably have a couple more premier leagues, champions leagues and every other cup aswell under their belt. We need top investment this summer and again in January as we can’t just let them run away with everything. They will catch us up before you know it at the rate they are going. I don’t know how much more we can keep coasting as we are hoping for a turn in fortune, it will take something special to even get near them. I don’t SJR is that guy going by his track record and what he has offered. His track record is crap thus far and he is keeping the leeches in the club to boot.

 

[UnitedSofa]

If Jassim wins, I hope each and every poster, who in this case promised to be done with the Club and football altogether, fecks off. Same applies to each and every poster who promised to stop supporting the Club in case Ratcliffe gets us. The caf will be a much better place in either case.

What about if they team up to make one super bid? SJ + SJR at the helm together

 

[RedDevilRoshi]

Likewise - though I didn’t hear anyone saying they’d stop supporting if Rat won.

But there were plenty saying if Jassim buys the club they’re done.

Fair play to them if they actually do keep their word if SJ was to win the bidding.

 

[DOTA]

If Jassim wins, I hope each and every poster, who in this case promised to be done with the Club and football altogether, fecks off. Same applies to each and every poster who promised to stop supporting the Club in case Ratcliffe gets us. The caf will be a much better place in either case.

I might stick around as an oppo. Not sure yet.

 

[Nou_Camp99]

What percentage of the A Class shares do the Glazers own?

All of them as I believe they had it written into an agreement that any shares sold to non Glazers would immediately become class B shares.

If you are going where you think you are with this then there's no way any bidder for the club is handing over several billion without full voting power. You'd have to be a raving lunatic to do that so most likely a new agreement would be drawn up if the Glazers stayed in some capacity as minority shareholders.

So they would definitely lose voting power under Sir Jim. He hasn't become Britain's richest man by handing over his money for no say.

 

[OmarUnited4ever]

And it isn’t true, has been proven wrong since:

INEOS is an affiliate to who exactly?

 

[711]

If Jassim wins, I hope each and every poster, who in this case promised to be done with the Club and football altogether, fecks off. Same applies to each and every poster who promised to stop supporting the Club in case Ratcliffe gets us. The caf will be a much better place in either case.

Nah, that's what football is all about, getting over-excited about things. Not sure if anyone said they'd leave if Ratcliffe won though, I think most of those who don't want him would hope he succeeds hugely and proves them wrong.

 

[Pexbo]

All of them as I believe they had it written into an agreement that any shares sold to non Glazers would immediately become class B shares.

If you are going where you think you are with this then there's no way any bidder for the club is handing over several billion without full voting power. You'd have to be a raving lunatic to do that so most likely a new agreement would be drawn up if the Glazers stayed in some capacity as minority shareholders.

So they would definitely lose voting power under Sir Jim. He hasn't become Britain's richest man by handing over his money for no say.

Wrong way round. Class A are the NYSE shares. Class B are the 10x voting rights Glaser shares.