Club Sale | It’s done!

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stevoc said:
If I had to put money on it I'd say they want £6b and the new owners to pay off the debt. The cnuts probably want to walk away without having to pay a penny of their debt off.
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I don't see Ratcliffe doing this and, unless they're stupid, the Qataris either.

If the Glazer idiots want their debt paying off by somebody else in addition to getting the club, then that asking price has to drop. Imagine going into a fecking corner shop for a pint of milk and the guy going "Yeah that's 99p please. Oh also, an extra fiver because I re-mortgaged the shop the other day".

I have no idea whether these guys are nice people behind the scenes, but every single one of their reported intentions makes me think they're lizards just milling around masquerading as humans and trying not to get caught before the uprising.
 
stevoc said:
If I had to put money on it I'd say they want £6b and the new owners to pay off the debt. The cnuts probably want to walk away without having to pay a penny of their debt off.
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I don't know if you read that Athletic article? But it's worded in a really confusing way.

They say the asking price of £6bn is the "enterprise value" which includes the net debt of £850m

Then they say Ineos' bid of £4.3bn and Sheikh Jassim's bid of £4.5bn are "nowhere near" the £6bn enterprise value

But £6bn-£850m = £5.15bn

Which would surely mean that both bids are about £650m off (which seems achievable to me)

Unless I've misunderstood something
 
Giggsyking said:


Attached to the club where the fans give them abuse every week?? They are so shameless and with zero self respect.
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:lol: Emotionally attached. feckers have run an empire into the ground group. Only attachment they have is to money
 
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LawCharltonBest said:
I don't know if you read that Athletic article? But it's worded in a really confusing way.

They say the asking price of £6bn is the "enterprise value" which includes the net debt of £850m

Then they say Ineos' bid of £4.3bn and Sheikh Jassim's bid of £4.5bn are "nowhere near" the £6bn enterprise value

But £6bn-£850m = £5.15bn

Which would surely mean that both bids are about £650m off (which seems achievable to me)

Unless I've misunderstood something
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I haven't read it but yes it does sound to me like the Glazers are trying to roll their debt into the asking price.
 
LawCharltonBest said:
I don't know if you read that Athletic article? But it's worded in a really confusing way.

They say the asking price of £6bn is the "enterprise value" which includes the net debt of £850m

Then they say Ineos' bid of £4.3bn and Sheikh Jassim's bid of £4.5bn are "nowhere near" the £6bn enterprise value

But £6bn-£850m = £5.15bn

Which would surely mean that both bids are about £650m off (which seems achievable to me)

Unless I've misunderstood something
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Haven't read the article, but it is not surprising that they talk about it on an Enterprise Value (EV) basis.

Enterprise Value is basically the value of an entire company without (most) cash and debt.

So if the Enterprise Value of MUFC is £6bn, it would entail a purchase price for 100% of the shares of app. £5.340bn after the 640m debt is removed. I don't think deferred transfer fees impact EV, but could be wrong. Since the Glazers own 69% of all shares in the club, the price offered for their shares -- at a 6bn valuation -- would be £3.69bn.

If Ineos and Q's offers of 4.3bn and 4.5bn are 'no where near' a 6bn valuation, it seems clear that they have offered say (4.5bn - 640m (debt)) * 69% = 2.9bn for Glazers shares. I.e. that their offer of 4.5bn or whatever also is on an EV basis.
 
JimmyWils said:
I don't see Ratcliffe doing this and, unless they're stupid, the Qataris either.

If the Glazer idiots want their debt paying off by somebody else in addition to getting the club, then that asking price has to drop. Imagine going into a fecking corner shop for a pint of milk and the guy going "Yeah that's 99p please. Oh also, an extra fiver because I re-mortgaged the shop the other day".

I have no idea whether these guys are nice people behind the scenes, but every single one of their reported intentions makes me think they're lizards just milling around masquerading as humans and trying not to get caught before the uprising.
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Well if the Glazers hold out for it then one or the other will have to do it if they want to buy the club.
 
The only emotional things that the have reaped from the mess that is their regime is a whiplash of pure hatred from every Man Utd fan, and the choke collar of steady disappointment following the almost-barren, humiliating, post-Fergie years. And they want more? Maybe they are masochists (not kink-shaming them if they are).
 
I want to underline that that in these type of talks, when you mention figures, you "only" talk about the EV value.

Why? Because you never know what the exact purchase price will be. The final purchase price is most of the time impacted by for example someone buying one ticket 11.59:59 pm one day. I.e. after the transaction is done, you create accounts per a specific time, and adjust the final purchase price by looking at the exact amount of cash that existed in the company per that date and the exact amount of debt. All other figures than EV are just 'guestimates' of what the purchase price might be, and its the seller that controls how much cash and debt the company will hold per the closing date.

I have all along interpreted talks about "Glazer wants 6bn" as the Glazers' requesting (6bn-640m)*69%=app. 3.7bn paid for their shares -- just because it would be odd to talk about anything else. It is like 'the' tell sign that someone doesn't know what they are doing... ;)
 
Bosws87 said:
Lets be realistic here, if PSG were based in the premier league they would be a different monster.
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And that is the main reason our rivals and those clueless press are busily against the Qataris takeover of Man Utd.

Man Utd with much money and no debt and competent leadership will likely crash other teams like cockroaches.
 
Sly1 said:
PSG have been better ran and more successful that Man Utd over the same period.

PSG would still win the EPL if they were here as Man Utd fights for Europa slot.

Man City is the equivalent of PSG in the EPL.
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Yeah probably though thats a low bar, but what's that got to do with my post?

Are PSG the most formidable team on the planet?

Because thats the claim I was replying to.
 
Sly1 said:
PSG have been better ran and more successful that Man Utd over the same period.

PSG would still win the EPL if they were here as Man Utd fights for Europa slot.

Man City is the equivalent of PSG in the EPL.
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PSG are terribly run, being better than us isn't hard.
 
Just hoping all this gets done before the summer. God forbid we go into the window like we did the January one.. gotta try and keep the momentum going.
 
Strootman's Finger said:
Every time the news seems to be moving in a positive direction some no name journalist shows up to piss in everyone's cornflakes. feck off nobody, you're not making a name for yourself here.
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It’s the Athletic. They haven’t broken a single story during this entire process - they have no solid sources on this and all their articles consist of them asking “football experts” what their opinion is.
 
I suspect the informed journalists are those most prepared to write positively spun articles in favour of those feeding them the inside scoop.

Athletic journalists are supposed to avoid that kind of journalism.
 
GaryLifo said:
I suspect the informed journalists are those most prepared to write positively spun articles in favour of those feeding them the inside scoop.

Athletic journalists are supposed to avoid that kind of journalism.
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I suspect that the most informed journalists are keeping their informations to themselves and will be fed news by the new owners after the sale.
 
Mickeza said:
It’s the Athletic. They haven’t broken a single story during this entire process - they have no solid sources on this and all their articles consist of them asking “football experts” what their opinion is.
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TBF, Lord Jim O'Niell told Andy Mitten that most of the sports journalists reporting on this are likely being given wrong figures. So I'm skeptical of what any sports journos say. They're getting PR bits.
 
Strootman's Finger said:
Every time the news seems to be moving in a positive direction some no name journalist shows up to piss in everyone's cornflakes. feck off nobody, you're not making a name for yourself here.
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That Pinto guy is the football business expert interviewed for the Athletic article posted on the previous page.
 
It seems like a lot of posters here would rather just have a circle jerk where only pro-Qatar updates/comments/thoughts are deemed credible, even when it's from people that don't even know what Enterprise Value means.
 
This £6b (or (6$b, on its face slightly more plausible) 'floor' is absolutely nonsense. Raine is 'strongly advising' the Glaziers to sell at whatever maximum-value Raine can extract once it comes to the 'preferred bidder' stage of proceedings, and everyone in this process, as well as any half-serious journalist, understands that to be the case..
 
MTF said:
It seems like a lot of posters here would rather just have a circle jerk where only pro-Qatar updates/comments/thoughts are deemed credible, even when it's from people that don't even know what Enterprise Value means.
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Or we’d like to discuss stories with substance?
 
Rumour going round that the Glazers are set to make a statement shortly.
 
MTF said:
It seems like a lot of posters here would rather just have a circle jerk where only pro-Qatar updates/comments/thoughts are deemed credible, even when it's from people that don't even know what Enterprise Value means.
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Oooh you’re hard
 
cyberman said:
Or we’d like to discuss stories with substance?
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If you read the piece from The Athletic (I understand that it does have a paywall so many can't) it is a good explainer of what's to come in the process. There's no scoop but there is analysis from a couple of experts. The experts aren't making a determination of what will happen, but they are providing insight. Which is more than can be said for a lot of the other stories in the past week, which has been notably light on actual news.
 
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