Club Sale | It’s done!

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pocco said:
The longer this goes on, the more I lean towards them taking some form of financial backing from a hedge fund. Obviously not happy with the offers, doesn't look like there'll be any movement on the offers, so I'm starting to think there could be no sale.
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No way do I contemplate something that bad
 
The Ferociousness said:
Ben Jacobs is one of the worst wafflers I've ever had the misfortune to listen to. He understands the takeover process from his covering of the chelsea takeover which he uses to explain the outline of this process, but beyond that he has no exclusives intel on the intention of either bidders. He's been on the united stand and people'stv repeating what's already been reported online, but he will happily talk for over 30 millions to get simple basic points across using word salad's to make it seem he's more intelligible on what's going on when he's probably one the last one to be drip fed info. He's an absolute attention seeker
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Calling it from now...when the next credible news ends up being the sale announcement, he will say something like, "as we previously reported, there was no preferred bidder named before a sale," ignoring that exclusive negotiations may have been taking place with one of the bidders and he just didn't know about it. :lol:

I had never even heard of the guy before this saga, but I knew he was full of it when I heard him perpetuating the idea that only the Glazer shares can possibly be sold here.
 
greenoffpearson said:
Why SJ looks like winning.

Caveat, I would prefer SJ, he will remove the Glazers and I appreciate that SJR will be similarly looking to do so but his strategy, in my opinion, leaves then lurking and not certain.

1. SJ has and retains the financial capacity to bid the most.
2 why has he not ended the process, because he knows, within a margin of error, that his bid is the most attractive, financially and practically.

We have been frustrated by his bids which appear, on face value, as being lower that SJR's, however he may have factored in the following:

The Glazer family need and want to sell. They have on average removed about £50 million a year for the last 12 years via share sales and dividends. They have one year left of doing the same but after one more year of share sales that is it.They can't go below 2/3 ownership.

Some of the siblings have already sold their, sellable allowance of shares, assuming those siblings have sold about 3.5%ish each of the 20% that the Glazers had available to sell on the NYSE (20% ÷ 6 siblings). Originally sold 10% and then over the last 10 years 20%.

The club needs a financial injection, Old Trafford/facilities. The Glazers do not intend to enter into any meaningful upgrade.

They have never looked to put their own money in and would not do so now. Each pound put in, as direct investment, would, theoretically amount to giving the Class A shareholders 30p for their holding. They are not going to do that, unless a new stadium allowed them to recoup a massive return on their outlay, but that would have to be almost doubling their investment when taking into account the 30p they are immediately benefitting the class A shareholders with and then added to the costs of obtaining that investment money.

Take a loan out against United - not an option because of the lack of lenders willing to provide finance at a reasonable rate, only option appears to be Investment Funds who are the lenders of last resort due to their aggressive nature to see a good return.

The portrayed option of only selling off only the Glazer share to the disadvantage of Class A shareholders. A poor option because the Class A shareholders will take them to court if they are sold out and investors must be correspondence reminding the board of their duty.

AV and Joel to stay on? A leveraging ruse to create the fiction of options. AV is one of the biggest sibling stake sellers, he has no interest in the club beyond taking out as much as possible. There may be upside in the future but it is not obviously foreseeable and involves more risk than other alternatives.

SJR's creative option has been overplayed for leverage. For the reasons above, they cannot ignore the Class A shareholders and they know/realised this. Some of the institutional investors increased their stakes, during the process, and will only have done so after fully considering their positions and options. They have the Glazers in their sights and the Glazers track record as poor custodians and their self serving governance are no doubt backed up with the investors lawyers assurances of a sound legal case, if necessary.

Based on the above there is only one option available to the Glazers, full sale to SJ.

Knowing this, the Glazers have manipulated the process to be as obscure as possible, hoping that SJ will be fooled into bidding more.

However the reality is SJ's team will know this and have been patiently tagging along, although now are increasingly frustrated by the Glazer's sham tactic of creating a bidding war.

The Glazers have used everything possible to muddy the process:
minority stake
may not sell
silent treatment

however SJ's team have not just conceded and paid the OTT sum the Glazer's want, even if they are still paying more than the club is technically worth.

The question remains, will SJR be able to improve his bid and appease the Class A shareholders. This will be extremely difficult given the highly leveraged nature of his bid. SJR is not stupid but perhaps pride has fogged his judgement on this occasion.

I can't believe that SJR is participating in a scam with the Glazers to get SJ to just pay more, SJR is much wealthier than the Glazers combined, why sully your reputation for the Glazer family, INEOS make billions per month. He is definitely not a patsy, he wants the club but hopefully that won't involve the Glazers or funding from the investment fund sharks.

The final question is how long will the Glazers give SJR?
SJ will wait but he must be disturbed with all the delays and hopefully has given the Glazer's an incentivised time driven option.

The media blackout suggests that things are coming to a conclusion otherwise the SJ team, in particular, would have vocalised their frustration, as they have done during the silent treatment/SJR is winning phase.
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I don't agree that Sir Jim is winning. 92F seem to be in the lead at the moment.
 
I think the sale of the club will be announced in the next fortnight and there will be an influx of Qatari cash. It would actually be stupid to over pay for a bunch of mid players in that situation. If that's wrong and it goes on into late July then yes there is a huge problem. But presumably if Rice wants to come to Qatar United he has enough sense to wait two weeks. And if he doesn't then it's no loss anyway.

Devil You Know said:
I don't agree that Sir Jim is winning. 92F seem to be in the lead at the moment.
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OP seemed to thing using SJ and SJR as shorthand for the bidders was a good idea. Suggest the edit button...?
 
glazed said:
I think the sale of the club will be announced in the next fortnight and there will be an influx of Qatari cash. It would actually be stupid to over pay for a bunch of mid players in that situation. If that's wrong and it goes on into late July then yes there is a huge problem. But presumably if Rice wants to come to Qatar United he has enough sense to wait two weeks. And if he doesn't then it's no loss anyway.
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From what has been said in the media, the sale wouldn't get competed until into next season, even if they accepted an offer now.
 
What about the completely unthinkable ?

It’s quiet because the deal actually been done subject to monetary transfer and fine detail, I don’t think the Directors test has been done as something would have leaked but maybe a preliminary check has been done on both SJ and SJR.

Possible all NDA’s mean that no party is allowed to talk until Reuters or Bloomberg announce the deal on the NYSE. Maybe that the announcement is this week then the process unfolds with a careful concession from SJR and congratulations to SJ. Then again Maybe I’m as crazy as most of the partisan united fans desperately clinging on to hope that finally the Goblins are about to leave for good!


Shares start to rocket and the much rumoured $38 deal is confirmed. If this is the case then 163 million shares at this price is $6.19 bn just to buy the shares, there would be additional payments to control the company, the obvious being the debt being paid so that’s another $700m and then there’s compensation to the greedy Glazers to relinquish control of probably another $1bn as legacy enterprise premium, this is paid against future broadcasting and merchandising deals. That’s $7.8bn for full buyout or nearly £6.2bn(£5.6bn after debt has been paid)
This is the rumour going around and the Glazers are still trying to get SJR to go higher to match the new Qatar bid.

This is the best bid for them because ;

1. It’s an easy transaction
2. No risk of future lawsuits from minority investment hedge funds with remaining shares
3. The money can be paid immediately into Cayman Islands bank accounts for all 6 Glazers meaning no capital gains tax .
4. They the Glazers would set to receive approximately $5.5bn of the $7.8/8bn
5. The club would be debt Free
 
Judas said:
The (rushed) Chelsea takeover has warped peoples perception of how long a deal of this magnitude takes to be completed.
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Newcastle's took a while, but they knew who they were selling to. It was other issues that held it up. Ours it just seems neverending because the Glazers are perpetually adding another round of bids to squeeze out as much money as they can, as if they haven't fleeced us enough already.
 
FujiVice said:
Imagine if she's right? Our first TikToker who is RedCafe Tier 1! That'll bring about more change than the takeover itself.
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If she’s right then we enter into a brave new phase of UK footy journalism where the dowdy, dullard, shameless bullshitters like Ben Jacobs and that guy on Sky who speaks like a muppet robot are replaced by glamorous Insta / TikTok girls who give us actual correct info while doing make up tutorial vids.
 
Beats some random person Tweeting 'Good luck in your new venture, our kid' in Arabic and everyone using that a proof the takeover must be on
 
Melville Red said:
I wonder how many supporters have died since the announcement the club was going on the market?

I‘m just trying to think of something cheerful.
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I wonder will any of us be alive when the club is finally taken over?

I doubt it chances are someone who hasn't posted or found this place or maybe not even been born will be the mod on here and putting this thread in the forgotten posters section
 
Scraping the bottom of the barrel now, come on. I know its been a slow week.
 
[QUOTE="glazed, post: 30724869, member:]
OP seemed to thing using SJ and SJR as shorthand for the bidders was a good idea. Suggest the edit button...?
[/QUOTE]

It should be Jassy and Jimbo. Then there'll be no confusion.
 
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