Club Sale | It’s done!

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Cassidy said:
https://www.standard.co.uk/sport/fo...d-bidders-cost-deadline-tonight-b1060705.html

The initial deadline set by the Glazers for the first round of bids was on Friday, February 17. There was then a second round after the major consortiums met with United staff members, including chief executive Richard Arnold. Finally, Friday’s deadline signalled the end of the bidding process.

The second round is where those who got through the first round were vetted and then got to look at Uniteds books
Friday's deadline was before Easter. The preferred bidder was supposed to be chosen at that point.
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This is from BBC about the deadline in question:

At 10pm tonight, the soft deadline will pass for potential bidders to register their interest in investing in United. By the deadline this evening, they must provide a formal declaration of interest as well as proof of funds.
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Any interest which evolves into concrete bids on Friday will be subject to scrutiny from investment banking firm, the Raine Group,
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As I said maybe I'm missing something but your interpretation of the process confuses me.
 
Cassidy said:
You think Stoney is a better source than Reuters head of M&A? In anycase Reuters didn't say exclusivity had been granted, they said the negotiations to sign the exclusivity agreement were underway
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Nah I think they are basically saying the same thing. Stoney just comes off as a bit negative but probably in response to people jumping the gun and thinking its done, or exclusivity already started. Even in this thread he is getting discredited for no reason.
 
Cassidy said:
Exactly and its what United legally would be allowed to say anyway
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The second sentence of his tweet is very carefully worded too.

"Told talks continue with multiple parties."

Sounds like it's meant to make the reader think they're still in talks with INEOS, when in reality it's more likely those "multiple parties" are Raine, the various legal teams, consultants, etc. representing the club and the Qataris.
 
Chief123 said:
The reports saying the company registration was done months ago are true but that was for the Nine Two Holdings entity based in Qatar. That was set up in April.

https://eservices.qfc.qa/qfcpublicregister/PublicRegisterDetails.aspx?firmid=107363

The U.K. entity being registered today on companies house is a significant move for me. Especially when you can be set up with companies house normally on the same day.
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It feels like there's too much smoke just now all from what you'd expect to be reputable places. Reuters, Rio and the companies House stuff
 
Okay so I’m an accountant. Creating a company takes 10 minutes, with no ID, docs needed as evidence. So a sham company can be created in ease. How do we know it’s a legit company?
 
Mockney said:
Oil money IS cheating. It isn’t vague at all.

Having unlimited funds is not a thing a club involved in competitive sport should have, and a genuine massive club validating the ownership models of the likes of City & Newcastle leads us down a one way path to oblivion where the ONLY way to compete at the highest level is for everyone who can to align themselves with a different feudal oil state, or die… it will taint our success too. Maybe not as much, but to some degree certainly, and absolutely makes the sport less interesting.

But you tell yourself what you have to.
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Can only speak for myself but my disillusion with football was topped off by them cnuts winning the treble. And you know what, I hope this takeover happens and I hope we cheat like fecking hell and I hope we get found out to be cheating. I hope we cheat and get found cheating by UEFA and the Premier League and then absolutely fecking nothing comes of it.
I hope all pundits and every major sports broadcaster going ignores all of this cheating and salivates us as “greatness”. Talks about how well we’ve been “building” and how we regenerated an area of Manchester . I then hope our manager goes around pretending he is oblivious to our cheating and then attacks every other club for being jealous.
I hope we win every league and cup competition going and then a load of pundits including one from our rival club talks about how “competitive”the game has become with our takeover, subsequent cheating and then winning :rolleyes: I want to hear how our cheating has made the PL a better league.
 
i’ve heard from a friend close to the process that there’s barely anything between both offers. it’s come down to a pissing contest, with avram chosen as the judge.

edit: *kissing
 
JPRouve said:
This is from BBC about the deadline in question:





As I said maybe I'm missing something but your interpretation of the process confuses me.
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Its pretty much the same as what Evening Stanard are saying just worded differently.

In any case, a concrete bid doesn't happen until books are opened, but you have an initial bid which was the first round bid deadline (as Raine group called it) its a first-round bid because it includes a bid (its an indicative bid, until books are opened) which is why you have to provide proof of funds.

Raine group would have been working with the bidders prior to that first deadline because a lot of documentation has to be submitted at that point. We heard the value of the potential bids before this deadline too by the way.

After that there was the second and third rounds, which concluded before Easter.
 
rimaldo said:
i’ve heard from a friend close to the process that there’s barely anything between both offers. it’s come down to a pissing contest, with avram chosen as the judge.

edit: *kissing
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Avram always struck me as the kind of guy who's into water sports.
 
Chief123 said:
There’s no way Darren Fletcher is completely in the dark about what stage the takeover is at. Ten Hag and senior staff are probably aware of what the next step is. I wouldn’t be surprised if Fletcher is his source. Ex-players talk to each other all the time. If I’m Rio, I’d be on Fletchers case every day.
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The staff including Arnold have been told to carry on as usual and they'll be advised. If Fletcher knows then a journalist would also know at roughly the same time.
 
Cassidy said:
Its pretty much the same as what Evening Stanard are saying just worded differently.

In any case, a concrete bid doesn't happen until books are opened, but you have an initial bid which was the first round bid deadline (as Raine group called it) its a first-round bid because it includes a bid (its an indicative bid, until books are opened) which is why you have to provide proof of funds.

Raine group would have been working with the bidders prior to that first deadline because a lot of documentation has to be submitted at that point. We heard the value of the potential bids before this deadline too by the way.

After that there was the second and third rounds, which concluded before Easter.
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Anyway, the key part for me is that I don't have any reference of deals that were that fast without exterior pressure, which leads me assume that most if not all sport franchise sales take easily 6 months to a year.
 
KiD MoYeS said:
To be fair to Rio he did call the Ronaldo deal.

Jesus, that day Ronaldo was said to be going to City only to join United could probably be the best day we have had as United fans in the last decade. How sad is that?
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The Ronaldo deal is much different. He literally knows Ronaldo FFS.
 
SouthMancRed said:
I thought we were having more thunderstorms just now but turns out it was the noise of you stamping your feet while putting your tantrum down in writing.
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I thought it was the massive wankfest simultaneously coming to a natural conclusion
 
Chief123 said:
The reports saying the company registration was done months ago are true but that was for the Nine Two Holdings entity based in Qatar. That was set up in April.

https://eservices.qfc.qa/qfcpublicregister/PublicRegisterDetails.aspx?firmid=107363

The U.K. entity being registered today on companies house is a significant move for me. Especially when you can be set up with companies house normally on the same day.
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Can take a bit longer for a Limited Liabilities Company in fairness Chief.
 
JPRouve said:
Anyway, the key part for me is that I don't have any reference of deals that were that fast without exterior pressure, which leads me to believe that unless we assume that most if not all sport franchise sales take easily 6 months to a year.
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November -> April is 6 months it was a reasonable time frame put together by Raine group (considering the full sale was targetted to conclude before the season end due to the transfer window)

Where Raine group messed up is that they did not anticipate Glazers were not 100% committed to full sale and before season end.

Bear in mind also that Raine were advising for fullsale, Glazers at some point may have preferred minority (which they were attempting before anyway without success)

EDIT: In any case though, its good that we are finally hopefully heading towards a conclusion
 
jm99 said:
This isn't like transfers though, a lot of journalists usual sources won't be able to help here, it's not as if they get their information by magic, they get them from sources, and it's not impossible that rio knows someone high up in the club that doesn't talk to other journos
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And that person would allow Rio to leak the news?
 
roseguy64 said:
And that person would allow Rio to leak the news?
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I guess, I mean leaks do happen. Maybe it's the case that if Qatar have essentially won the person doesn't mind Rio saying, maybe the person will get into trouble, who knows
 
Cassidy said:
November -> April is 6 months it's not it was a reasonable time frame put together by Raine group (considering the full sale was targetted to conclude before the season end due to the transfer window)

Where Raine group messed up is that they did not anticipate Glazers were not 100% committed to full sale and before season end.

Bear in mind also that Raine were advising for fullsale, Glazers at some point may have preferred minority (which they were attempting before anyway without success)
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Which makes the timeline even less reasonable. The way I see things the minimum timeline is never reasonable not when the range is up to more than a year. If you think differently fair enough.
 
Mate of mine works at the club and has been told takeover is being completed by Qatar and will be leaked tonight, announced tomorrow.
 
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