This won't go over well on here. But is 100% true of course.
Club Sale | It’s done!
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This won't go over well on here. But is 100% true of course.
To be fair how else do you move 6b around? Would you not need big players to move that much cash?
Yeah. The guys they've assembled seem appropriate. Good luck to them, I hope nothing goes wrong.
Why is Bank of America part of the Qatari bid team???
They are advising Sheikh Jassim. (Presumably because he need banking advice even though he is a banker and chairman of a bank)
I'm amazed they'd want anything to do with United, Jim will have a tough job selling the dream to the pair of them.
What are they advising on? Value for money I guess. Sending the message they won't overpay.
Not really, a wire is a wire. Of course you need a bank, but that's not what BofA is here for on this deal. They're Qatar's chosen financial adviser on this. INEOS likely will have one too, but bigger deals have been done without a buyside adviser.
As Jassim's advisors on the deal, it could be about anything to do with value for money, tax implications, discussions with Raine etc on how they'd expect financing to be provided etc.
What if I told you they play 5-a-side on the weekend wearing full United kits?
I guess we read bankers and think in simple terms but I thought the club has debts of various sources so any sensible party will have people with the best knowledge of what type these debts are and their obligations / pay off rates etc.
i thought today meant the bidders had a bit more info into the clubs finances too, hence the above
They probably have a prior relationship with the Glazer's people
touché.From what I read the Glazers had implemented 'a need to know' policy with new financial data being revealed at each stage. That makes sense as revealing too much to a potential buyer can damage a business especially if things don't work out. For example in 1989 United showed their financial books to Knighton who was supposed to buy us out. The guy failed to buy Manchester United and despite Knighton ending up becoming a meme among United fans he was able to land a director's job, a role he covered till 1992.
Under such circumstances it makes sense to involve all stakeholders at every step of the way. That's because they might gain access to sensitive data at step 2 that they weren't given at step 1. Having all INEOS owners involved including Blanc (whose a football man) makes good PR as well as opposed to Jassim who couldn't be bothered to turn out. I think even the staunchest SJR fans concede that he is losing the PR battle
The downside to that is that its now evident that SJR can't do whatever he wants at INEOS. If he's using company money then the other shareholders will need to be involved into the decision making. TBF that didn't surprise me at all as that's how companies are run. However there were people in here who thought that SJR was INEOS equivalent of Putin with other minor shareholders acting like posters boys whose job is to nod and clap. Its not the case at all. So unless the others are in board then this will be run mostly as a business venture.
Des Lynam not looking happy
That's rich coming from you
I'm looking forward to the investment into the stadium. Having seen what other teams have across the globe, this is the thing that excites me. Alongside the fact that winning on the pitch will be a priority and then the the business.
I can't wait.
SJR is still the major shareholder so his word carry a huge weight around INEOS. However he's not the INEOS equivalent of Putin. The other shareholders aren't there to simply nod and clap at everything he does. They have huge money invested into the company are there to make money.
Thus I can see a relationship similar to what Moratti had at Inter. They'll probably allow him to buy United and let him play football manager with it as long as things don't go overboard. If things spiral out of control though then he'll have problems.
Yet you could be spending more on official merch than the regular match goer.
ive never liked these arguments, looking down nose at others
No wonder you like Jimbo and his "put Manchester back in Manchester United" spiel. You both come across as xenophobic.
Supporters from another country aren't real supporters, really?
Do doctors carry out their own diagnosis and perform medical procedures (in their field) on themselves?
Do lawyer defend themselves in court?
Just a foolish point fit for the kindergarten.
That's rich coming from you
It's not, though because he's trolling not arguing
I’d be worried by any doctor who carries out medical procedures in a field to be honest, whether it’s theirs or not.
Is this your way of admitting you've been found out to be chatting shit?
Yeh I know, typical. But hey, I'm not surprised, some posters are let away with anything on here and the mods do nothing, but when I call one of them out for what they are, I get the warning
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Nope, it’s my way of saying not everything has to be taken so seriously. Lighten up!
There's always a fecking bank involved in everything, earning a cut no doubt. They'll have probably outlined their clients accounts, how much is available in free cash, available to transfer, dates etc.
It's more credible than the Qataris turning up and saying "trust me bro, we got the money, have a look at my bank app", and who would the Glazers trust the most? A big American bank of course!
You can do a deal without financial advisors, plenty of companies do. The doctor analogy is just
You don't need the Global Head of their IB TMT practice for that.
They've got some nerve really.
"Alright lads, make a bid for the club. Yeah we know you did that 2 weeks ago but do it again anyway for a laugh, but make it more this time, the first one was just to make sure you're serious."
Did you guys think the Qataris were going to pay with suitcases of cash
?You can do a deal without financial advisors, plenty of companies do. The doctor analogy is just
Erm this is not just any deal its a £5bn deal. Due diligence needs to be done.
Its like when you buy a house, you get a banks valuation.
All a formality I guess.
The people who representing Jassim are deal makers. For a takeover, all the main necessary people were today for Jassim.
I just can’t see how Qatar doesn’t buy us now. They’re incredibly efficient at getting what they want. Seeing actual reps of theirs at Old Trafford today confirms to me that this will go ahead after the red tape is resolved.
If you're about to spend billions, you want top brass there, not some intern with no experience of this kind of deal.
Is it just me or does anyone else think Sheikh Jassim look likes someone just typed "Qatari billionaire" into one of those AI image generators.
If I was a corporate banker doing this kind of deal I’d want to be there in person to trust my expertise and experience.
Maybe if you're buying a shed, yes. But this is some bonkers 'expertise' on display here.You can do a deal without financial advisors, plenty of companies do. The doctor analogy is just
Even investment banks hire other investment bankers for these things ffs
.Also, you want your face involved in this deal so everyone knows you brokered it. Great for business.
You get the bank valuation when you're buying a house because the bank is going to be the one lending you the money, so they do want to appraise the value or they won't underwrite the loan.
An accounting firm and/or a law firm can do the due diligence, in fact it's mainly a law firm job
Those are the only 2 options? BofA IB must be more thinly staffed than I realized.
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