SuperiorXI
Full Member
Have you seen what he's doing to Twitter?Why exactly?
No chance that Musk will buy United btw
Have you seen what he's doing to Twitter?Why exactly?
No chance that Musk will buy United btw
Yes, and?Have you seen what he's doing to Twitter?
Good points but we did contend for titles under the Glazers. Won multiple of them plus a CL.I work with public M&A and have a few thoughts on what is going on here, that I think are indisputable:
*”As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
What does this means?
(a) Look, the board has a fiduciary duty to act in the way that is best for all shareholders. If there is a sale of the club, there will be litigation in the US. If they sold the shares of the club — and someone sues them saying ‘you lost us money by not selling off the assets instead’, the board will be deemed negligible if it can’t show that they acted “with the care that an ordinarily prudent person in a like position would exercise under similar circumstances”. That includes not just ruling out options without looking into them.
I.e. it is perfectly possible that they are looking to sell 100% of close to 100% of the shares.
This is what the entire first half of the PR is about:
“We will evaluate all options … Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
(b) We are dealing with the Glazers here, they won’t waste money if they don’t have to.
If the Glazers want to explore selling their shares and hence wants to sign top financial and legal advisors — who pays the retainer? The Glazsers can’t ask the financial advisor to send the bill to the Club.
With this mission for the financial advisor, they are acting on behalf of the club and Glazers won’t be picking up the bill.
*Could the new buyer be worse than the Glazers?
I don’t know the answer to that, of course. But it’s not 2005 anymore, where football clubs weren’t seen as investments and the sale of our club to the Glazers was perhaps not handled properly.
What I do know is this — the offers to buy the club will 100% be established against the background of what a buyer think can be justified against economical data or other concerns. Since there of course will be plenty of interested buyers, as a result, the highest bid will come from the buyer who sees the brightest future for Manchester United financially, which in its turn can motivate the highest price tag. At worst. There could of course always come in a buyer looking for an alibi, expensive toy or whatever.
The Glazers brought a club that — from a financial POV — was ‘decline proof’ for what a decade and a half. We are United, one of the the biggest club in the world. But this will not continue if the club remains outside all real competitions for titles for another 17 years or whatever. Slowly but surely our position in the football world is eroding. And it can get a lot worse fast. Under the Glazers, we haven’t contended for the title really, but we been in and out of the Champions league, been the runner up for the title and so forth. There is no guarantee that we will become a CL team over the coming 10 years.
Hence, our club — for a new buyer — is anything but decline proof. This buyer could 100% buy one of the biggest clubs in the world and in 15 years time he looking to sell a mediocre PL team with a great history.
As a consequence, I personally think it’s very very likely that a new buyer will be looking to invest in the club. I just cannot imagine a scenario where a buyer — who will be the one entity that sees the brightest future for the team — will be someone who won’t look to invest in the club.
*What is the time frame?
The market is very very sour right now. There are no guarantees for any deal to get made fast.
For the Glazers to sell of their holdings of shares in United — it could be done fast. Could take a month. But that does not include a proper vendor auction process. It’s someone calling them up asking for a number, being given one, and then acting on it instantly.
A more likely scenario is Q1 2023. I think that is what they are aiming for. Q2 2023 could also be an option.
I want him nowhere near the club, he’s bonkersMy god, people are STILL promoting this Elon Musk fantasy? After he's shown the world his whole backside over this Twitter fiasco?
This is a 51 year old man-child with the mentality of a 15 year old boy, who's fickle and changeable in the worst way for a boss to be, and whose "wealth" is entirely tied up in the stock prices of companies he's actively tanking.
Good points but we did contend for titles under the Glazers. Won multiple of them plus a CL.
Mbappe
I repeat, he's a lunatic.Yes, and?
I think I'm right in saying that there's a clause against this now. I think it might actually be called the anti-Glazer clause which is funny and cruel at the same time.And knowing the F.A. they'll breaking with their new found policy of "fit & proper" where Chelsea were concerned, and accept a U.S. backed, leveraged, offer.
You are right, they are selling up and I'd assume they are fairly advanced in the process and most likely doing this now to kickstart a bidding warEach of the Glazers have amended their ownership forms with the SEC to include this:
Strategic Process
"On November 22, 2022, the Issuer announced that the Issuer’s board of directors (the “Board”) was commencing a process to explore strategic alternatives, including, new investments into the Issuer, or a sale, merger, or other transaction involving the Issuer (the “Strategic Process”).
As part of the Strategic Process, the Reporting Persons intend to engage in discussions with third-parties, management, the Board, other representatives of the Issuer, and/or with other holders of securities of the Issuer. In connection with these discussions, the Reporting Persons, including Mr. Glazer in his position as a member of the Board, may suggest, take a position regarding, or participate in, a variety of matters relating to the Strategic Process, which may include, among other things, suggesting changes to the Issuer’s operations, management, corporate governance, capital structure, and control, as well as other alternatives that relate to or would result in: an extraordinary corporate transactions, such as a merger, tender-offer, take-private, or other transaction that could result in the delisting or deregistration of the Class A ordinary shares; changes to the capitalization or dividend policy of the Issuer; or other material changes to the Issuer’s business or corporate structure, including changes to the Issuer’s charter or bylaws or changes in management or the composition of the Board.
To facilitate their consideration of such matters, the Reporting Persons, in their individual capacity, intend to retain consultants and advisors and may enter into discussions with potential sources of capital and other third parties. The Reporting Persons may exchange information with any such persons pursuant to appropriate confidentiality or similar agreements. The Reporting Persons will likely take some or all of the foregoing steps at preliminary stages in their consideration of various possible courses of action before forming any intention to pursue any particular plan or direction.
As a result of these considerations or as a result of the Strategic Process, the Reporting Persons may, from time to time and at any time, (a) acquire additional securities of the Issuer in open market transactions, privately negotiated transactions, through a tender offer or otherwise, or (b) dispose of any or all of their securities of the Issuer in open market transactions, privately negotiated transactions, in connection with an extraordinary corporate transaction, or otherwise."
This has a lot more flesh on the bones than earlier releases, basically ruling nothing in or out.
Some insider trading going on apparently? Could be indicative of an actual intent to sell? I won't believe it until I see it.
Our saving grace could be the errors the PL has learned from the Glazers' own tenure and the recent sale of Chelsea indicates as much.The main problem United have here, is that Glazers won’t care who they sell to as long as they get top dollar.
I couldn’t support an oil team so I hope it’s someone like Ratcliffe
Oil bidders will bid top dollar though and the most too. So it will probably happen.The main problem United have here, is that Glazers won’t care who they sell to as long as they get top dollar.
I couldn’t support an oil team so I hope it’s someone like Ratcliffe
It would not be surprising at all if Musk bought United. And, for me at least, he'd be quite the upgrade. He's not my preference, obviously.
The Qataris are looking to buy a PL club. Question will be, will it be Utd or Liverpool ?Fantastic news but probably like other`s apprehensive as the grass is not always greener.
We don`t necessarily need owners who have experience running a club, we just need owners who can get the right people in to do the job (it`s worked at City & Liverpool)
I`d be very surprised if it`s not a buyer from the middle east though.
they've literally made a statement of their intent to sell
Sorry, I don't make a habit of believing anything they say. Even now I don't believe they will sell the club. Probably a minority share or some other scheme outlined in that press release. I just can't imagine them selling the club entirely.
Elon Musk needs to be a banned term in this thread. Discuss him in current events forum, he obviously isn't a potential buyer.
He's way too erratic to dismiss...He isn't buying it.
He joked in the summer because obviously the Glazers were trying to sell to rich circles
Is that even possible. Can Qatar or someone own 2 football clubs. PSG and Manchester United will both play in the champions league potentially.The Qataris are looking to buy a PL club. Question will be, will it be Utd or Liverpool ?
Is that even possible. Can Qatar or someone own 2 football clubs. PSG and Manchester United will both play in the champions league potentially.
Is it just a coincidence that this announcement has come so recently after Ratcliffe said he wants to buy United?
Red Bull Leipzig and Red Bull SalzburgIs that even possible. Can Qatar or someone own 2 football clubs. PSG and Manchester United will both play in the champions league potentially.
I work with public M&A and have a few thoughts on what is going on here, that I think are indisputable:
*”As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company.”
What does this means?
(a) Look, the board has a fiduciary duty to act in the way that is best for all shareholders. If there is a sale of the club, there will be litigation in the US. If they sold the shares of the club — and someone sues them saying ‘you lost us money by not selling off the assets instead’, the board will be deemed negligible if it can’t show that they acted “with the care that an ordinarily prudent person in a like position would exercise under similar circumstances”. That includes not just ruling out options without looking into them.
I.e. it is perfectly possible that they are looking to sell 100% of close to 100% of the shares.
This is what the entire first half of the PR is about:
“We will evaluate all options … Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.”
(b) We are dealing with the Glazers here, they won’t waste money if they don’t have to.
If the Glazers want to explore selling their shares and hence wants to sign top financial and legal advisors — who pays the retainer? The Glazsers can’t ask the financial advisor to send the bill to the Club.
With this mission for the financial advisor, they are acting on behalf of the club and Glazers won’t be picking up the bill.
*Could the new buyer be worse than the Glazers?
I don’t know the answer to that, of course. But it’s not 2005 anymore, where football clubs weren’t seen as investments and the sale of our club to the Glazers was perhaps not handled properly.
What I do know is this — the offers to buy the club will 100% be established against the background of what a buyer think can be justified against economical data or other concerns. Since there of course will be plenty of interested buyers, as a result, the highest bid will come from the buyer who sees the brightest future for Manchester United financially, which in its turn can motivate the highest price tag. At worst. There could of course always come in a buyer looking for an alibi, expensive toy or whatever.
The Glazers brought a club that — from a financial POV — was ‘decline proof’ for what a decade and a half. We are United, one of the the biggest club in the world. But this will not continue if the club remains outside all real competitions for titles for another 17 years or whatever. Slowly but surely our position in the football world is eroding. And it can get a lot worse fast. Under the Glazers, we haven’t contended for the title [since SAF left] really, but we been in and out of the Champions league, been the runner up for the title and so forth. There is no guarantee that we will become a CL team over the coming 10 years.
Hence, our club — for a new buyer — is anything but decline proof. This buyer could 100% buy one of the biggest clubs in the world and in 15 years time he looking to sell a mediocre PL team with a great history.
As a consequence, I personally think it’s very very likely that a new buyer will be looking to invest in the club. I just cannot imagine a scenario where a buyer — who will be the one entity that sees the brightest future for the team — will be someone who won’t look to invest in the club.
*What is the time frame?
The market is very very sour right now. There are no guarantees for any deal to get made fast.
For the Glazers to sell of their holdings of shares in United — it could be done fast. Could take a month. But that does not include a proper vendor auction process. It’s someone calling them up asking for a number, being given one, and then acting on it instantly.
A more likely scenario is Q1 2023. I think that is what they are aiming for. Q2 2023 could also be an option.
I know absolutely nothing about U.A.E and particularly Dubai.
Are they just as bad as the rest of them?
Dubai for me just seemed like a random place that shot to fame about 15 years ago and seemed like a new business hub of the world
Rather them than the Qatar sovereign fund.Looks like we’ll basically get Chelsea’s sloppy seconds