Ah ah... Yeah it seemed a weird thing for him to come out with this stage. Thanks
Club Sale | It’s done!
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Ah ah... Yeah it seemed a weird thing for him to come out with this stage. Thanks
Would be gutting if they ended up sticking around, that piece is worrying. Not sure why someone selling would give a shite what he thinks about the stadium.
Fair.
Maybe trying to show he ‘cares’, whether he does or it’s just PR who knows. Maybe also a way of communicating to people that the decision is based not solely on money?
Those are just me trying to think of positives.
Maybe they're getting Fergie vibes. Genius manager who'll rake in dividends for them on the cheap for a decade.
The club is fecked if they stay.
The fact the Glazers are exploring outside investment would indicate it has become unmanageable.
Or they’re trying to use the media (remember director of football imminent appointment after every loss) to push up the price
I wouldn't worry too much at this stage. Assuming the stories are coming from the Glazers and not just made up it's most probably them trying to get Qatar/INEOS to up their bids by claiming they won't budge on price/have funding to stay.
Listened to a sport finance expert lawyer on BBC R5L tonight, and he suggested the normal process now would be a 2-month period where those who have made a bid get access to all our financial data after signing NDAs and conduct due diligence to compile a more serious offer based on the value they place on the club. He suggested this would be inline with a sale at the end of the current season.
Id say anybody claiming this is a done deal is bluffing/bullshitting.
Id say anybody claiming this is a done deal is bluffing/bullshitting.
Why didn't he say it before now then?
The fans are completely divided over the potential Qatari state ownership. The only thing that can unite the fans now, is the sale collapsing and the Glazers staying on. We all hate them, right?
Then with all due respect, you can't speak for them. People do not want to talk about the racial/ethnic abuses even if they are your friends.
Godwins law needs updating for the 2020’s.
Why is everyone reacting to every tiny piece of news? This isn't a £50m player transfer. You're going to read and hear all sorts of stuff between now and the end of the season.
The Glazers will sell because they know their time is up. Why would they turn down £5-6 billion? They'd be mad. They don't care if Utd are doing well or not. Do you honestly think that Avram and Joel have just said to each other "Hey, this Terry Hag person is pretty good, let's keep the club. We can keep taking out a few million every year, who needs FIVE BILLION QUID?"
Come on, actually think about it. They will sell - to who, is anyone's guess. But they will sell.
The Glazers will sell because they know their time is up. Why would they turn down £5-6 billion? They'd be mad. They don't care if Utd are doing well or not. Do you honestly think that Avram and Joel have just said to each other "Hey, this Terry Hag person is pretty good, let's keep the club. We can keep taking out a few million every year, who needs FIVE BILLION QUID?"
Come on, actually think about it. They will sell - to who, is anyone's guess. But they will sell.
I was thinking about this while cooking.
If Ratcliffe doesn't repay our current debt (and I'm not talking about new debt he's said he'll put on INEOS), it'll have to be refinanced at some point.
Now I am not familiar with our debt profile but suffice to say it's been financed in a period of time where we've had historically low interest rates and very cheap financing. For example, we took our latest tranche of £100m at the start of Corona which was just about the best timing. I'd assume it's in the 2% to 4%, giving us the 20m or so annual interest repayment.
Current rates in the US (which is the finance capital of the world and where we draw finance, hence why the debt has been going up in £ terms because it's denominated in USD) are just under 5% and projected to go to 6%. Now, this is the base rate and I'd assume we'd be paying close to 10% once our debt is due to be refinanced.
Of course, it won't happen all at once and we can be prepared to refinance less but if we assume 600m debt at 10%, that's a nice 60m we'd pay just in interest a year and any capital repayment on top of that. We're literally talking about debt as big as our revenue.
Our headroom is anywhere between 100 to 200m a year, so 50/60m would mean we'd be very much constrained. You might have noticed I haven't even mentioned stadium costs and transfers, so make up your mind where we'd be if we don't get the cash injection of about 2bn to clear the debt and start building the stadium.
Sounds to me like the Glazers can't stoke a bidding war because the Qataris already outbid INEOS at 5 billion. So to get 6 they have to pretend they won't sell for less.
But they will. Overpriced by 1 billion insted of 2 is still a good deal even for greedy fekkers like them. They'll never get this chance again if they embarrass the Qataris publicly. And i don't doubt they are leveraged up to their eyeballs and need to sell.
Unless Saudi.
But they will. Overpriced by 1 billion insted of 2 is still a good deal even for greedy fekkers like them. They'll never get this chance again if they embarrass the Qataris publicly. And i don't doubt they are leveraged up to their eyeballs and need to sell.
Unless Saudi.
Hiring “Contract Dave” from Everton, increasing season ticket prices, and now this story about Glazers opinion on new Stadium making headlines again, I’m beginning to worry that the Glazers have secured more loans and are looking to stay on. If they even attempt it, the protests have to go nuclear (not literally, although……)
And? Are you going to drive them out? Because none could do it for 17 years.
It is what it is. Maybe once the club is completely done they will finally leave.
The irony
Yeah. I’m still here. Just wanted a quick overview rather than trawling through twitter or 60 odd pages
Apologies, could have worded my post better, that's my point too. He's hardly going to be oblivious to fan sentiment on their reign, so I don't see why now suddenly he thinks fans will give a shite about his opinions on the reconstruction of the stadium when they are supposedly selling.
It's worrying, I don't think we'll get a better chance to get rid of them.
are you suggesting that there is a problem with racial abuse among our fanbase?
at least he was respectfulThe irony
No worries, and too right it's worrying, I thought I'd enjoy this process, but they're spoiling it and messing with our minds now.
Logic all points to a full sale still though.
So Simon is suggesting Glazers will refuse 4-5bn because their ego got hurt and have sudden appreciation for United?
With the dippers not selling but open to investment, could this be something the Glazers will be looking at.
I would add that according to the WSJ there are a number of other private bids, some for outright purchase, as well as the two public ones. This is going to take some time to analyse by the bank, before access to the financials. Sale by the end of the season seems very optimistic to me.
I think its unlikely that no financing of some kind will not be involved for the eventual purchaser, People should not too hung up about that, even City's owners have raised a substantial loan.
United's issue is not its overall financial state, its how it appears within the UEFA strictures. Too many years of dickheads overspending on dickheads
need to be unwound. Whoever the new ( or existing) owner there is no dodging that. Clever selling and clever purchasing is the requirement. Its been shown this season that good management plus moderate tweaking can make a huge difference; good loan deals can form part of that for 12 months. By 2024/5 season United's UEFA finances could look very different. And OT is not going to fall down despite media hype.
That's concerning. Why would he care what we do with the stadium if he's planning on selling?
Absolutely not, I am not suggesting that. But you can not be serious by saying there is no racial abuses within our fanbase base on your personal experience as a non muslim.
I think it was always on the cards if there wasn't enough interest. There are two solid initial offers on the table that I think the sale will happen. There's surely enough appetite on both sides of the table that this should be sorted....I think and hope.
What is ironic about it?The irony
They would have burned some serious bridges with the most likely buyers of the club in the future if they don't go ahead with it. They'll sell.
what is wrong with you.Why would they pay a firm hundreds of thousands of pounds to setup a sale, to then say actually no thanks we're keeping it?
this is the Glazers, they won't spend a penny without getting something back.
I think in normal circumstances that would be the case but when you have a player like the Qataris with silly money, anything is possible, they could say here’s £5.5-6B, we don’t want a drawn out process with multiple rounds of bids, sign it over.
If they want it bad enough and are worried a disclosed bid could be another state backed bid or a Apple/Amazon etc then they want this closed asap.
The kind of investment needed to buy out his brothers and sister, plus the infrastructure upgrades, would need a couple of billion finance.
The club simply cannot support that kind of borrowing.
It is all nonsense.
As if they will let the opportunity of making 4-5 billion slip away.
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