Club Sale | It’s done!

[Acquire Me]

If this deal get approved, this is a deal that gives Sir Jim and Ineos majority in the long term. That much I think most will agree on.

That said, I would not be amazed if the deal had a structure that allowed Sir Jim and Ineos to take over the business in the short term.

The agreement for the remaining shares are not easy for me to say anything about obviously. My bet would be that the Glazers are confident of an upside coming and that the possible upside are part of the deal on the remaining shares.

Will be interesting if we get some more information on this if/when the board approves.

 

[JPB]

Will there be a protest against the Glazers next week? Seems like Glazers are using the international break to force this move through.

Protest should be aimed at zero transparency in bidding process and the type of bids received. Plus demand for full sale as partial sale will mean they will stay for foreseeable future.
Think the agenda should be

a) Ratcliffe deal should be discussed with fan forums and the overall plan should be presented.
b) Competitive bids should also be disclosed and reason for rejection.
c) Ratcliffe plans for stadium development and debt management should be disclosed as these are important parameters that new financing was supposed to target.

Is MUST organised enough to carry out the protest and direct important questions towards the Glazers? We may still not get any answer from Glazers but massive protest might force their hand

"Must" this "Must" that. Just because Qatar didn't win. what if they were buying us? Then feck it right? no musts and protests and disclosure then because feck it we have Qarta riches now £££$$$€€ right?

Is this the only reply you can come with. Seriously all your replies to everyone who disagrees with you is same.

Go and support City.

 

[Foolsgold21]

Hope the death of the club brigade have taken a deep breath, and calmed down now with the reports of immediate sporting responsibility and eventual majority.

 

[AFC NimbleThumb]

Qatar never offered what the seller wanted. People can cry for them all they want, but they’ve flopped. So much noise, so much shite, and for nothing.

I know it’s great, we get what we all wanted nearly a year ago. Glazers staying with some guy buying 25% of their shares.

Qatar we’re the only offer of a complete change of ownership, turning on fellow fans & claiming ‘people are crying’ because this Ratcliffe deal is shite does what exactly?

Ratcliffe has offered the Glazers what they want & that benefit the club how exactly? Your first sentence sums it up perfectly, if what the Glazers want is money in their pocket & to hang around I’m not sure why you’d be lauding the fact that a prospective buyer wasn’t willing to do this.

 

[Smithy89]

Hope the death of the club brigade have taken a deep breath, and calmed down now with the reports of immediate sporting responsibility and eventual majority.

Don't want Ratcliffe and his wall street buddies either, Glazer lite.

 

[Castia]

Hope the death of the club brigade have taken a deep breath, and calmed down now with the reports of immediate sporting responsibility and eventual majority.

He’s done a worse job with his other clubs than the Glazers have with United. One club was relegated and the other is a mid table team in France, a 1 club league.

 

[JPRouve]

Until I see Jean Claude Blanc in Manchester, I will keep my enthusiasm under control.

 

[Lemoor]

He’s done a worse job with his other clubs than the Glazers have with United.

That's just an insane take.

 

[Foolsgold21]

He’s done a worse job with his other clubs than the Glazers have with United.

Nobody knows how good he will be, but the fact we won’t have absent owners who don’t care is an immediate improvement.

 

[Licha-Vidic]

• Sir Jim Ratcliffe will take control of footballing operations in an attempt to remove the Glazers from the firing line in his proposed 25 per cent Manchester United co-ownership deal, Telegraph Sport understands.
• Under terms close to being agreed by key parties, the controversial American owners would remain at the club but take back seats amid efforts to calm the mood among fans.
• A clause handing Ratcliffe control of sporting matters also goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.
• One interested party claims an agreement with Ratcliffe could now be voted by key club figures this week although other insiders said a deal could yet be delayed.
• Sources on both sides of the deal played down suggestions that a deal had already been done with Ratcliffe. One added that final negotiations could yet “change the dynamic”.
• However, Ratcliffe has sought assurances that his proposals include “operational control of footballing matters”, a key figure with knowledge of the situation explained.
• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

 

[york_cole_99]

I might deluded but I think this all a smoke screen for Qatar to increase their bid.

 

[Solius]

Ain't nobody who wants RATcliffe as owner.

Good input thanks bud.

 

[NWRed]

I’ve said this before on this thread do you understand the religious beliefs of a large proportion of the spurs fan base a buyout by an Arab businessman would not go down very well in the current crisis

I've no idea why you quoted me, I didn't mention Spurs.

 

[Smithy89]

• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

Nah feck this.

 

[sugar_kane]

He’s done a worse job with his other clubs than the Glazers have with United.

For the amount of money pumped into PSG, Qatar have done a dreadful job.

They’re currently 3rd in the league (behind Nice) and have had a horrible, Woodward esque approach to buying superstars, who in turn end up running the dressing room and burning through managers.

In that time, they’ve got to one CL final in a behind closed doors season.

Their ownership is no guarantee of success, and the hard evidence suggests they will spend money but do so badly (sound familiar?)

 

[Foolsgold21]

He’s done a worse job with his other clubs than the Glazers have with United. One club was relegated and the other is a mid table team in France, a 1 club league.

So you would prefer the Glazers to continue the rot?

 

[redNATION]

• Sir Jim Ratcliffe will take control of footballing operations in an attempt to remove the Glazers from the firing line in his proposed 25 per cent Manchester United co-ownership deal, Telegraph Sport understands.
• Under terms close to being agreed by key parties, the controversial American owners would remain at the club but take back seats amid efforts to calm the mood among fans.
• A clause handing Ratcliffe control of sporting matters also goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.
• One interested party claims an agreement with Ratcliffe could now be voted by key club figures this week although other insiders said a deal could yet be delayed.
• Sources on both sides of the deal played down suggestions that a deal had already been done with Ratcliffe. One added that final negotiations could yet “change the dynamic”.
• However, Ratcliffe has sought assurances that his proposals include “operational control of footballing matters”, a key figure with knowledge of the situation explained.
• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

I wonder if this is in fact being structured as a capital injection, ie the funds go straight into the club with shares issued in exchange. Not great but still better than the Glazers being paid for their shares

 

[Castia]

That's just an insane take.

Is it? he got one club relegated. The other is finishing on average between 8th-10th in a 1 club league.

Hes appointed non football personnel at Nice, their summer window last year consisted of Ramsay, Schmeichael and Ross Barkley, their fans want him out

 

[VP89]

He’s done a worse job with his other clubs than the Glazers have with United. One club was relegated and the other is a mid table team in France, a 1 club league.

This is so ignorant. Do you even know what you are saying by claiming hes done worse than the Glazers? Compare the outlay and the time horizon.

 

[NWRed]

• Sir Jim Ratcliffe will take control of footballing operations in an attempt to remove the Glazers from the firing line in his proposed 25 per cent Manchester United co-ownership deal, Telegraph Sport understands.
• Under terms close to being agreed by key parties, the controversial American owners would remain at the club but take back seats amid efforts to calm the mood among fans.
• A clause handing Ratcliffe control of sporting matters also goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.
• One interested party claims an agreement with Ratcliffe could now be voted by key club figures this week although other insiders said a deal could yet be delayed.
• Sources on both sides of the deal played down suggestions that a deal had already been done with Ratcliffe. One added that final negotiations could yet “change the dynamic”.
• However, Ratcliffe has sought assurances that his proposals include “operational control of footballing matters”, a key figure with knowledge of the situation explained.
• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

"Control of footballing operations" is meaningless without control of the purse strings, which will remain mainly in the hands of the Glazers.

The Glazers have notionally already given up control of the sporting operations to Murtough and Arnold, but we're still screwed because the Glazers still have control of the purse strings and so have final say on everything.

 

[horsechoker]

• Sir Jim Ratcliffe will take control of footballing operations in an attempt to remove the Glazers from the firing line in his proposed 25 per cent Manchester United co-ownership deal, Telegraph Sport understands.
• Under terms close to being agreed by key parties, the controversial American owners would remain at the club but take back seats amid efforts to calm the mood among fans.
• A clause handing Ratcliffe control of sporting matters also goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.
• One interested party claims an agreement with Ratcliffe could now be voted by key club figures this week although other insiders said a deal could yet be delayed.
• Sources on both sides of the deal played down suggestions that a deal had already been done with Ratcliffe. One added that final negotiations could yet “change the dynamic”.
• However, Ratcliffe has sought assurances that his proposals include “operational control of footballing matters”, a key figure with knowledge of the situation explained.
• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

It reads like he's agreed to be their fall guy

 

[Wednesday at Stoke]

It reads like he's agreed to be their fall guy

If he can keep buying out the other minority parties and mopping up the public shares, he’ll gradually become majority owner.

 

[macheda14]

I wonder if this is in fact being structured as a capital injection, ie the funds go straight into the club with shares issued in exchange. Not great but still better than the Glazers being paid for their shares

The thing is waaaaay back when this process started it was then looking for a full sale or minority investment to bankroll infrastructure improvements. I think their greed means it isn’t likely, but we shall see.

Also where do we stand on the whole owner being allowed to invest a certain amount of money a year now that INEOS own 25%. Could they feasibly invest yearly? (Not that I think they would)

 

[Castia]

For the amount of money pumped into PSG, Qatar have done a dreadful job.

They’re currently 3rd in the league (behind Nice) and have had a horrible, Woodward esque approach to buying superstars, who in turn end up running the dressing room and burning through managers.

In that time, they’ve got to one CL final in a behind closed doors season.

Their ownership is no guarantee of success, and the hard evidence suggests they will spend money but do so badly (sound familiar?)

I completely disagree with this take about PSG

They had won 1 league title in their entire history before Qatar. Ronaldinho playing for them was their claim to fame for the previous 20 years before the takeover.

They haven’t won a CL that’s fair but it’s tough to win, City are arguably one of the best sides ever and have 1 trophy to show for it.

 

[11101]

"Control of footballing operations" is meaningless without control of the purse strings, which will remain mainly in the hands of the Glazers.

The Glazers have notionally already given up control of the sporting operations to Murtough and Arnold, but we're still screwed because the Glazers still have control of the purse strings and so have final say on everything.

The Glazers have not been shy of spending money but they've been happy to let incompetent people control it, which includes Murtough and Arnold. Both yes men to the old regime. If somebody who knows what they're doing gets control of that money it might not be the worst thing.

I'm just glad Qatar are out of the running especially after the last week's events.

 

[Rhyme Animal]

Just to point out any Ratcliffe purchase of Glazer shares would go to the Glazers

Shhh, they’re not ready to admit that to themselves yet.

• Sir Jim Ratcliffe will take control of footballing operations in an attempt to remove the Glazers from the firing line in his proposed 25 per cent Manchester United co-ownership deal, Telegraph Sport understands.
• Under terms close to being agreed by key parties, the controversial American owners would remain at the club but take back seats amid efforts to calm the mood among fans.
• A clause handing Ratcliffe control of sporting matters also goes some way to explaining why the Ineos owner is willing to pay an estimated £1.35 billion, a significant premium on market valuations, for just a quarter stake.
• One interested party claims an agreement with Ratcliffe could now be voted by key club figures this week although other insiders said a deal could yet be delayed.
• Sources on both sides of the deal played down suggestions that a deal had already been done with Ratcliffe. One added that final negotiations could yet “change the dynamic”.
• However, Ratcliffe has sought assurances that his proposals include “operational control of footballing matters”, a key figure with knowledge of the situation explained.
• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

Like literally everything the Glazers are involved in, it ends up being the most pathetic, laughable, weak version of what it could be.

 

[NicolaSacco]

"Control of footballing operations" is meaningless without control of the purse strings, which will remain mainly in the hands of the Glazers.

The Glazers have notionally already given up control of the sporting operations to Murtough and Arnold, but we're still screwed because the Glazers still have control of the purse strings and so have final say on everything.

Does that not lead you to believe that your understanding is wrong? Ratcliffe must be doing this for a reason; it seems very unlikely to me that hes spending billions to be in a position of no real power, and he simply hasn't realised that this is what's happening.

 

[Eplel]

• Ratcliffe, whose Ineos firm generates $61 billion (£52 million) in revenue, has lined up financing from banks including Goldman Sachs Group Inc, while JPMorgan Chase & Co., Rothschild & Co. and Bank of America Corp. are among other banks advising or offering capital on a deal.

Wow, the dollar must be doing terribly.

 

[Castia]

So you would prefer the Glazers to continue the rot?

No I think this deal enables exactly that to happen. They’ll still be here in 10 years.

 

[Frank Grimes]

This has the potential to get very messy. Reports that Ratcliffe wants control of the footballing side. How can a minority shareholder have the main say in football matters? What happens when it conflicts with the Glazer's plans. It can't work.

It would also be an admittance from the Glazers (not that it's needed) that they couldn't care less about the football side of the club. Will Ratcliffe have the power to get rid of Arnold and Murtough and all the other incompetent clowns? I very much doubt it. Nothing about this makes sense. Nightmare scenario really. Ratcliffe is essentially our version of Usmanov, we've completely transitioned into late 00's - 2010's Arsenal.

 

[Pexbo]

I wonder if this is in fact being structured as a capital injection, ie the funds go straight into the club with shares issued in exchange. Not great but still better than the Glazers being paid for their shares

That would still water down both their own shareholdings and that of the Class A shareholders.

 

[Nogbadthebad]

If he can keep buying out the other minority parties and mopping up the public shares, he’ll gradually become majority owner.

No he won't.

Class B shares are the only ones that matter. He can own every publicly traded class A share in existance, and the glazers will still have complete control of the club.

 

[Scottynaldinho]

I am happy with this for the following reasons:
1) We didn't become a sports washing project which would've meant that I stopped supporting the club
2) Puts pressure on Glazers to match the ambitions of the new partner who is an outsider
3) Puts pressure on the club to perform to keep the new stakeholder happy
4) Puts Glazers' dividends under the microscope not only by the fans but also by an actual future majority stakeholder
5) We can keep the continuity with Erik in charge without the uncertainty of the club sale on the horizon and now can focus on the footballing side.

 

[El-Manos]

Christ, every day there is more bad news surrounding the club. If he manages us like Nice, we’ll be relegated within 2 years

 

[48 hours]

Wow, the dollar must be doing terribly.

 

[black country red]

Can you elaborate on this?

spurs have a large Jewish fan base Israel has been attacked by hamas terrorists the leader of hamas is allegedly in exile in Qatar go figure

 

[AshRK]

If he really has sporting control with his 25% then prove it. Sack the board and get a new structure, and new board members eho can actually run the club. Not yes men like Murtough,if not just shut up.

 

[RedSky]

Christ, every day there is more bad news surrounding the club. If he manages us like Nice, we’ll be relegated within 2 years

They're 2nd right now in Ligue 1 having beaten Monaco (1st) and PSG (3rd) away. Granted it's only 8 games, but clearly Nice was always a stepping stone club for them. Not a legacy project. What makes you think we'd be relegated in 2 years?

 

[Nogbadthebad]

Wow, the dollar must be doing terribly.

The turnover is impressive.

In the last decade, that has translated to a gross profit of around 2 billion euros a year.

Ineos doesn;t have the income to make cash purchases of the size required to buy us. Nor to finance a new stadium either. At least, not as a non-profit generating business, which we are right now.

 

[Foolsgold21]

No I think this deal enables exactly that to happen. They’ll still be here in 10 years.

I highly doubt 70 year old Ratcliffe, who is doing this as a vanity project, would pay over £1B for that to happen.