What a weird rant from the "source", is it just spin to save face or literally a moron? "The market dictates what United are worth, not the Glazers or Raine". Market price is a function of buyers and sellers, and in this deal that looks to be Ineos and the Glazers. Whatever deal they end up agreeing on, if they do, is what the market decided. What the source is referring to is the stock price, but that is just what the marginal seller/buyer think the listed stocks are worth.
Club Sale | It’s done!
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What a weird rant from the "source", is it just spin to save face or literally a moron? "The market dictates what United are worth, not the Glazers or Raine". Market price is a function of buyers and sellers, and in this deal that looks to be Ineos and the Glazers. Whatever deal they end up agreeing on, if they do, is what the market decided. What the source is referring to is the stock price, but that is just what the marginal seller/buyer think the listed stocks are worth.
feck me. Talk about client journalism
Yeah, that is pretty poor.
I think we have to wait and see how the deal is structured. Is the 1.3B going straight to the Glazers with the club seeing none of it? Will Ineos be allowed (and will they even want) to spend more money out of their pocket on United with the other shareholders not putting anything in without further dilution? Will they be allowed to take complete ownership of the footballing side and allowed to spend United's money without Glazers' approval who are still the owners of the club?
sigh.
Brilliant post by nev
Thanks for this. I have avoided reading any stuff like this until things are moving ahead. Now I am all ears. Appreciate the info.
Spare a thought for Rio and Beckham as their big pay day goes riding off into the sunset.
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And new facilities. In all honesty they’re my 2 main requirements.
If Jim comes out and says he’s clearing all the debt and investing in Old Trafford I’d happily put aside his atrocious ownership in France and Switzerland and give him the benefit of the doubt.
It's not optimal, but the main story is that we eventually will get rid of the Glazers further down the road. Ratcliffe/INEOS is a much better option than being owned by a petroleum based country, which is basically what the Sheik Jassim package is.
I don't want Manchester United to be associated by a cruel, human rights abusive, gay hating country. Not to mention that if an unmarried girl gets raped in said country, SHE will end up in jail. The country and it's officials (whom would've ended up running OUR club) reeks of extremism and corruption and it's absolutely ridiculous watching the lot of you whom seem to totally ignore those fundamentally insane issues just to "catch up with Manchester city" aka 115 Charges FC. Shame.
Go support Manchester city, Newcastle or PSG if the Sheikh Jassim heartbreak is too much for you lot. We don't need you in our fanbase. I don't want to be assoiated with people who accept shit like what the Qatar regime does just to experience some success in any given sport. Feck off!
Upward and onwards, thank you Sir Jim and INEOS! Let's get this club back where it belongs.
I don't want Manchester United to be associated by a cruel, human rights abusive, gay hating country. Not to mention that if an unmarried girl gets raped in said country, SHE will end up in jail. The country and it's officials (whom would've ended up running OUR club) reeks of extremism and corruption and it's absolutely ridiculous watching the lot of you whom seem to totally ignore those fundamentally insane issues just to "catch up with Manchester city" aka 115 Charges FC. Shame.
Go support Manchester city, Newcastle or PSG if the Sheikh Jassim heartbreak is too much for you lot. We don't need you in our fanbase. I don't want to be assoiated with people who accept shit like what the Qatar regime does just to experience some success in any given sport. Feck off!
Upward and onwards, thank you Sir Jim and INEOS! Let's get this club back where it belongs.
Not all United fans need to be reminded of who Qatar are thankfully.
Good.
excellent post by neville. The ratcliffe money will go straight into the glazers dividends no doubt.
They aren’t going anywhere. I honestly don’t think Jim will increase above 25%. He’s paid a premium to get sporting control. That’s as far as he will go in my opinion.
He’s been there for 4 years now in that time has he not progressed the club? I don’t expect them to pay 200m a season and go toe to toe with PSG but feck me he should be challenging for a European spot if he was at least a smidge competitive. Look at the clubs in that league spending even less than Nice by the way and getting European football there’s really no excuse
The Ratcliffe money isn't going to the club at all. The owners sold their shares. It goes to them
I agree with all he says, but I'm sorry Gary, you don't get to have "non negotiables" when you're not the seller.
I’m not sure , it was 25% for a reason and the Glazers also own 6.9 million class A shares, this was a carefully negotiated deal to possibly stop the top 5 shareholders like Lindsell track, Etc and others from taking the Glazers and INEOS through the courts!
I’m not sure 100% on this but this is how it reads initially, however if you have 25% of class A shares, the INEOS offer should mean that every shareholder must be offered the opportunity, you might find that if you have say 1000 shares you may be offered a formal letter to sell 250 of those shares at the enterprise value of $46 but you would have to agree in a set time period.
That’s my take on it hope this helps.
I'm sure there pockets will be hurting
Easily the best post I’ve read in this thread for a long while. Thanks for this.
There is a difference between not being able to afford and not willing to be totally ripped off.
Gary should stick to commenting football matches and crack jokes with Carragher.
Its clearly been a non-starter for the last year. They Glazers wanted to stay, they waited until Ratcliffe made them the offer they always wanted. They were never going to sell it.
If you paid 25% of your mortgage off would The bank spend that money renovating your house?
The money is going straight into the Glazers pockets. It’s ludicrous to suggest otherwise.
I don't think there's anything wrong in suggesting the areas around OT are developed to enhance the fan experience
Sometimes it's difficult to hear what we don't want to hear.
What does “sporting control” mean exactly? United is still a sports club so how does the minority shareholder get to drive the core business? Sounds like PR to me to persuade fans that the Glazers are no longer in charge of the footballing side.
Love to see the stroppy, spoiled reaction of someone/something that's used to getting exactly what they want, not getting what they want. Great stuff.
Huh? He's made great points in that post.
All subject to confirmation but this does seem to be the value could be $38 for SJ last bid and $44-45 for SJimmy, so many outlets quoting different numbers for both SJ and INEOS but I think they are the ball park figures, with a difference per share of between $6 and $7 between SJ and INEOS.
$1.75 billion from INEOS is the rumoured 25% buyout with a $7.5billion 100% share valuation.
Everything he has said is spot on though.
They got European football in 2 out of 4 seasons and were competitively challenging for the higher competitions too. 1 of those 4 was COVID, which had a massive impact on any owner trying to implement a sustainable improvement strategy. That takes time to implement successfully anyway, and that was a big set back for all.
As the article says - they were on a good path for the first few years, then PSG poached their manager and they got the next appointment wrong. It happens. The path forward isn't endless right decisions. It's important to correct them and they seemingly corrected that and are back on the right path. It's been a very short term for him there so far, and generally it's too early to draw real conclusions. You look at things like changes above the manager, what structures they are trying to put in place and what transfer strategies they are aiming for. That stuff takes a while to pay off, unless you are a sugar daddy owner. Which I never wanted.
Some points were valid, but using the market cap of the listed Class A shares to project the value of the entire entity is rather daft. The "true" value or the entire thing would never be reflected in the market price of those shares alone.
I am quite curious to learn how they've structured this deal. Presumably they either have to scrap the dual class share structure altogether or come up with some other convoluted way that a) gives all of Ratcliffe's shares meaningful voting power, b) sets the precedent for the Glazers to gradually sell their shares to INEOS, and c) does not utterly feck over Class A shareholders. Knowing the parties involved, it will probably be the latter (convoluted) option. Just praying it's nothing that results in lawsuits...last thing we need.
Think someone needs a time out tbh. Visions of a toddler in Asda having a tantrum.
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