August the 2nd is jumping out at me.
Just can’t see anything happening during the US tour.
Just can’t see anything happening during the US tour.
Club Sale | It’s done!
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Now there's a thought. They have been playing a shell game since their arrival. Debt upon debt upon debt. They have only taken, never given. They turned United into a soulless corporation run from afar, and as far removed from a community based football club as the east is from the west. They can go no further without someone else's money coming in or they can sell outright. They are vampires.
As for minority shareholder protection in the event of change in control of the company, this might be more effective in most civilized countries, but I don't believe this is as stringent in the US.
The fiduciary duties of majority shareholders and Directors towards the minority is to ensure that if they sell the control to someone else they need to do their due diligence that the new owners won't strip/loot the company of its assets, or otherwise cause detriment to the company.
There's nobody that believes either Jassim or Ineos plans to loot the company (more than the Glazers already have).
There is such a thing as Good Faith which opens up the opportunity for litigation from the minority shareholders if they feel they have been screwed over, however I believe this would be difficult for them to argue, especially under US laws.
I think the final sentence there is what would protect the Glazers if they choose to go with the Ineos bid over Jassim. Since the Class B shares are privately held and they have more voting power then the class A shares are already proportionally disadvantaged in my opinion, and not further disadvantaged by the Glazers choice to transfer class B to whomever they wish.
Buuut.. I'd say there's a more than good chance there will be some form of litigation no matter what the outcome of this whole sale process will be.
The fiduciary duties of majority shareholders and Directors towards the minority is to ensure that if they sell the control to someone else they need to do their due diligence that the new owners won't strip/loot the company of its assets, or otherwise cause detriment to the company.
There's nobody that believes either Jassim or Ineos plans to loot the company (more than the Glazers already have).
There is such a thing as Good Faith which opens up the opportunity for litigation from the minority shareholders if they feel they have been screwed over, however I believe this would be difficult for them to argue, especially under US laws.
I think the final sentence there is what would protect the Glazers if they choose to go with the Ineos bid over Jassim. Since the Class B shares are privately held and they have more voting power then the class A shares are already proportionally disadvantaged in my opinion, and not further disadvantaged by the Glazers choice to transfer class B to whomever they wish.
Buuut.. I'd say there's a more than good chance there will be some form of litigation no matter what the outcome of this whole sale process will be.
Surprised you didn’t know the composition of the Board tbh.
Never looked tbh. Just knew there were 12 and half were the Glazers. Thanks for the link. Manutd.com still tragic.
This process looks dead. Even journalists hungry for clicks have given up on inventing any stories about the takeover. Either the Glazers are playing a very long game, or there won't be any sale. Not sure what to think. Assuming no sale, i guess...
One thing that’s doing my head in is that I can’t see the point in not selling for the Glazers. Even from the most stingy, money grabbing, point if view, there is simply no merit in not taking the money that is on the table now. They have received an offer from the 92 foundation that practically tenfolds their investment, which wasn’t even their money. So essentially they would come out good for about 5,5b on top of what they already took out, lets say 7b total with dividends etc, which was financed through a loan which was hung on our backs like an anchor for the past 18 years. Cost us in the process a sum that would build a brand new stadium and cutting edge training facilities. What’s even funnier is that this debt would in this scenario be paid out through the sales process by the 92 foundation.
If they, by any chance, observe this as time equals stock price goes up, well yes and no, and even if yes, it would probably be countered by inflation. And most certainly requires massive short term investment for long term returns, which I would bet my left nut that they are not fond of.
The sales process itself has reached the end phase and the consequences of pulling out at this point would be staggering for future sales. I would like to point out that this for us would mean hell on earth, as I don’t see them investing their own money to renovate the stadium, but what I do see is them selling naming rights and pulling all kinds of “levers” with our brand value. But as stated, this doesn’t make sense for someone in the investment business. When in the next 10 years would they get such a clean return, probably never as shite could very well hit the fan on our club.
If they, by any chance, observe this as time equals stock price goes up, well yes and no, and even if yes, it would probably be countered by inflation. And most certainly requires massive short term investment for long term returns, which I would bet my left nut that they are not fond of.
The sales process itself has reached the end phase and the consequences of pulling out at this point would be staggering for future sales. I would like to point out that this for us would mean hell on earth, as I don’t see them investing their own money to renovate the stadium, but what I do see is them selling naming rights and pulling all kinds of “levers” with our brand value. But as stated, this doesn’t make sense for someone in the investment business. When in the next 10 years would they get such a clean return, probably never as shite could very well hit the fan on our club.
Wondering what the Raine Group are thinking. We knew the Glazers were slow feckers but this pulls the Raine Group into the dirt as well. In the beginning there were some "news" that the Glazers were unhappy with the Raine Group and the slow progress. But today I can´t see any indication that there´s no one except the Glazers that are stalling the process. Guess Raine are pretty fed up too by now.
Pretty sure they are. They are redundant now, must have given their recommendation to the Board ages ago. Can’t see what more they can add until they get their payday.
As someone who used to work in the industry, I promise you Raine Group has nothing to do with the slow sale process. They have one job, to match a buyer with their client, The Glazers, and execute a sale as soon as an agreement is made. They have zero motivation to drag out the process, as they make all their money on taking a piece of the sale. Most likely scenario is that this radio silence means lawyers and tax accountants are working overtime to get the contracts finalized and we’ll get an announcement in the next couple of weeks.
How many times do you need to be told the reason?
If you mean in protection of the minority shareholders then I don't believe that is applicable, at least under US laws. See my post higher up on the page, quoted below for convenience.
The board has a fiduciary duty towards all the shareholders, and thus would recommend a sale to Jassim. But the board isn't the entity selling the shares, and cannot force the majority shareholders to sell to one party over the other as long as it doesn't change the existing value of the minority shares.
Honestly a lot of the "progress" seems to be amatuer detectives online posting about things they think are happening.
Matriac.
But the board isn't the entity selling the shares, and cannot force the majority shareholders to sell to one party over the other as long as it doesn't change the existing value of the minority shares.
But surely if only the Glazers shares are sold it will seriously affect the minority share value?
But the board isn't the entity selling the shares, and cannot force the majority shareholders to sell to one party over the other as long as it doesn't change the existing value of the minority shares.
But surely if only the Glazers shares are sold it will seriously affect the minority share value?
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Yeah already accepted a while ago that due to the slow process there wasn't going to be any affect on this window. We just need some confirmation of a successful bidder (Jassim please) but still feels miles away so hard to relax
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I keep telling myself that but then a lack of any news in last couple of weeks gives me concerns
Thank goodness. I actually didn't think about this once all weekend til now. Back to watching the stock ticker now
Reckon I'll be announced after transfers are done or just before season starts at this point.
Excellent. Are you Jassim or Jim, by the way?
So much sale fatigue already.No silly. Hal's a very intelligent computer. He knows stuff.
The Glazers are deeply untrustworthy owners and it would not actually surprise me one bit if all of this was a ruse to ride out the Ronaldo public criticism, also buy a few new players early to keep up the deflection of what such a global icon has said about them, Ronaldo has done more damage to their credibility in 18 minutes than the Utd fan base has done in 18 years, are they legitimately selling the club? time will tell.
Well this thread's just ran out of steam hasn't it. Might take weeks to get to 2000 pages now.
A lack of any news at all will do that
Today is the day, surely?
The Glazers deliberately created this power control & obstructions (Class A/B shares, finances done in the Cayman Islands), it was never going to be easy to rid ourselves of this despicable family.
IMO us fans have an obligation to act, if the Glazers still remain in some sort of capacity, once this 'process' is complete. The position we are in currently, where people are willing to buy the club and reverse a lot of the damage they've done over the last 18 years. I still fully believe we will have new owners soon, but I also believe we need a way an effective way to challenge the Glazers if they somehow are still around (in any capacity) once this is complete.
IMO us fans have an obligation to act, if the Glazers still remain in some sort of capacity, once this 'process' is complete. The position we are in currently, where people are willing to buy the club and reverse a lot of the damage they've done over the last 18 years. I still fully believe we will have new owners soon, but I also believe we need a way an effective way to challenge the Glazers if they somehow are still around (in any capacity) once this is complete.
The longer this goes on the less I think they want a full sale. As they might be trying to navigate the legal issues with the Jim shares bid
What position do you play?
Bored of this now.
I agree mate, it is difficult to not be anxious about this, I am as well. We’ve all been scarred by decades of Glazer ownership. It’s a disgrace that they were allowed to acquire the club in the first place.
I’m pretty sure that the sale will go through. When? In a week, in a month, Christmas? Who knows. But I feel that the Glazers know that cashing in now makes sense. It’s simply not worth it for them staying on, from a financial and ethical standpoint. The protests will get bigger and louder, everyone has had enough.
They know that the fans and the stock exchange are excited by the potential of a takeover. They know that they can’t take dividends out of the club anymore. So what’s in it for them? Why keep the club? So they can maybe sell in two years time for a few million quid more? I can’t see it.
They’re going. But again, we’re in for an anxious wait.
What do you suggest? Escalation?
I think even the twitter insiders and ITK nonsense have had enough and are bored of making things up.
Thank feck the transfer windows here to keep me distracted from this utter shambles. Now I’m not checking this thread 100 times a day looking for updates that never come.
From memory one of them (Joel I think) was supposedly always a fan, and was actually the one who encouraged his old man to buy us. No idea how true that is, but it was always the rumour back in the day.
Of course you'd think a fan would try to do the right thing by the club, but obviously he's a fan of money or power more.
1955: Anthony Eden succeeds Winston Churchill as PM, before winning a comfortable majority in a snap general election (Clem Attlee's last as Labour leader). Ruth Ellis is the last woman to be executed in the UK. The Dam Busters is released in cinemas.
I guess this is one way to get to 2000 pages
How fitting it will be if we get to pg 2023 and you can simply end with 'Manchester United sold'
Going to be a lot of birth years coming up I imagine, then this thread is going to really start picking up.
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