Yeah the article comes off as a Qatari sponsored puff piece intended to humanize the guy while not attempting to be too blatant about it.
Club Sale | It’s done!
- Thread starter JB08
- Start date
-
In the latest episode of the United Hour Podcast, Nik (@Rood) is joined by CEO Duncan Drasdo and Financial Director Andy Green from the Manchester United Supporters Trust for a special episode on all things behind the scenes at Old Trafford including a brief history of MUST and their aims today, views on INEOS and Sir Jim Ratcliffe so far, and the Old Trafford regeneration.
- Status
Yeah the article comes off as a Qatari sponsored puff piece intended to humanize the guy while not attempting to be too blatant about it.
Seems like it's only Jim and Jassim at this stage.
Could be wrong, but I can't see how the Glazers will stay on.
Not sure. I don’t think Elliot would be looking to invest in the club to buy out the other siblings (I mean what would they benefit? United isn’t likely to gain the kind of returns that would make it worth while).
They are more likely to offer to restructure the existing debt and hope the Glazers end up defaulting on the repayments to assume control of the asset. The Glazers are greedy but are they also stupid? To let these groups in to “help” will be the end of their time in some form… and at the loss of their stake for nothing
Not really. Remember, Raine was hired to evaluate all options, not just for a sale. Joel and Avram are looking for ways to finance the buyout, while trying to convince whoever they can to stay. Elliot, Oaktree, and Ares all offer them this possibility. They can also sell assets belonging to the club for further cash. They've got plenty of options, I'm sure some we are not even aware of. Full sale is just the last resort, and also the least likely to happen.
As for any "fan shitstorm" - nothing of the sort is going to happen, let's be honest here. At least nothing tangible. I'm sure social media will explode, though. But this fanbase isn't exactly known for it's resolute protests. The Glazers know this, that's why they've never cared about fan opinion. It's irrelevant to them, because it has no actual consequences. The same will be true now. If you think fans will suddenly be convinced to cancel games while the team is going strong as it is now, then you've got another thing coming.
two thirds of the forum want Qatar so clearly a lot of mancs are on board
Impossible, since the Qataris are obviously United fans and have their own Nine Two Foundation to prove it.
Being successful this year could certainly encourage them that they can make the club even more valuable in future.
As much as I'm enjoying winning games, a league cup and europa Cup would be poor consolation for another decade of Glazer ownership. Before they dragged us down we didn't give a shit about either competition, now they might convince them their masterplan is working
As much as I'm enjoying winning games, a league cup and europa Cup would be poor consolation for another decade of Glazer ownership. Before they dragged us down we didn't give a shit about either competition, now they might convince them their masterplan is working
Yeah but the Glazers have tried all of this hence the sale in the first place? It’s not that they couldn’t get financing, it’s that they couldn’t get the correct financing .
Remember the story is that these investment groups have put themselves forward, not that the Glazers have approached them.
I’d strongly argue against your last point. The fans have already cost them a major sponsor and had a game postponed, the entire reason why the rest of the Glazers want out is because they don’t think it’s worth the hassle anymore.
You’re already seeing the consequence of the protests and why they couldn’t be talked around. Hence the sale in the first place
They could easily stay on given that the club is on the cusp of another period of protracted success, which will only increase its value in the coming years.
Or this is the peak as it is.
The Glazers would have spoken to a bunch of guys similar to Raine.
Each one would present their credentials, action plans and what price they think they can realise. Then the Glazers would sign off with the one that offers the most realistic minimum/best achievable price. Everyone knows the actual price based on the NYSE shares is at approx £3.4billion (?).
Raine would have done all their research incl bouncing off their network of high-net-worth individuals --- and getting a feel of the level of interest and the price they would pay. And the potential of them bidding off each other. Maybe in hindsight, they overestimated the level of willingness to part with the amount that they had estimated and promised the Glazers?
Or maybe the Glazers think they are on the cusps of a golden era with ETH and are not going back on their word to Raine and now want something much bigger? Or they get financing and hangon a little longer.
It is barely reaching their current evaluation. I can’t see it jumping to what they want if they continue not investing. And they can’t upgrade infrastructure as they can’t load anymore debt onto the club. It’s just not sustainable, even at the current levels.
FT does puff pieces?
everyone does for a price yeah
Right. And how exactly do you imagine this going down? Let's say the sale is called off and by some miracle protests actually happen (they won't).
The Glazers pull the plug and drive away the buyers. Protests happen. The Glazers get uncharacteristically scared and call back all the buyers whose time they just wasted and beg them to come back, which instantly puts them in a disadvantageous position. They finally sell the club and it's happily ever after.
Do people really believe this?If they decide they are not selling, that's it. They will probably soften the blow by lying again, like they did after the Super League fiasco, and buying <insert marquee signing name>. Fans will move on and it's business as usual.
You’ve still not clarified what your agenda against match going fans/glazer protests is?
Weird.
Jassim overestimated the readership level of the typical United supporter then. Should have saved a few bucks and stuck to the Daily Star. -- present company included.
would be a bit strange if they didn't care about fan opinion when the fan backlash was largely responsible for scuppering the super league
if you said don't care about fans, I'd agree
It’s not exactly hard hitting journalism asking the tough questions, is it. One of the guys interviewed was a professor in Doha whose quote appeared tactically interested to create separation between the bidder and the Qatari government. Another seemed to suggest his Dad has more money than his estimated net worth suggests - which is alone dodgy, but in this case it seeks to assuage the question that the bidder is himself not that wealthy because he couldn’t have accrued that much wealth in his job.
They might stay on but I very much doubt the success will last long without significant investment.
"Sources involved in..."
Didnt it come out that Joel and Avram and settling it themselves and that no-one else even at board member level is being privy to the discussions about the sale of the club?
So unless Joel or Avram are personally talking to the Athletic which is unlikely at best, I think this is still just speculation.
would be a massive risk with regulation coming though Raoul
Yay. Morality high ground will be secured
I'm sure dozens of people are working on this though
Yeah that's likely the purpose of the article.
This reads as if you don’t like what it says so are trying to disregard it to be honest.
There’s no law saying you have to declare your net worth unless I’ve missed something?
These fecking cnuts.
With Liverpool owners announcing they're staying and now murmurs of the Glazers staying, something isn't adding up. I hope it's a negotiation tactic but I can see these parasites staying now ten Hag has us winning.
They will sell, I am convinced. The club is already heavily leveraged. The Glazers have no other assets of note to collaterize some kind debt. Revenues have plateaued and there is need for massive capex.
They will sell.
Another thing is the cost of debt is going in one direction. Even a private placement will cost a lot.
They will sell.
Another thing is the cost of debt is going in one direction. Even a private placement will cost a lot.
Not at all. I just expect journos to ask tougher questions instead of writing feckless articles one might find in Qatar Airways inflight magazines.
100% -- considering that this would be the most expensive sporting franchise to be sold.
They could just as easily get into a partnership with a hedge fund and stay on. If Joel, and to a lesser extent Avi, don’t want to sell - but the other four siblings do, then they could simply restructure with outside investment.
Yeah it just doesn't make sense.
The Glazers aren't borrowing 3/4 billion to pay off their siblings, and they certainly won't be putting that onto the club.
It's just not a feasible option, and I very much doubt the UK government would even allow it.
The Super League fiasco included the biggest clubs across Europe that even drew the attention of governing bodies, even those beyond football. Let's not pretend it's anywhere near on the same level as leaving bad reviews on Google, setting some flares, waving some scarfs, and singing bad chants outside Old Trafford.
What tough questions can you ask if he is an independent bidder?
It’s just a broad profile of a potential bidder, that’s all. The same way Jim is being treated.
Do you think they are handling the entire process on their own?
It is certain that there are many people involved in the entire process, from handling the company package that is offered to interested parties, handling the relationships with interested buyers, the due-diligence teams reviewing submitted bids, the analysts who are bringing the summaries to Joel and Avram.
It is the final decision-making that is confined with Joel and Avram only. The rest of the process involved many other people.
It doesn't make sense for them to stay from a financial point of view. They have only ever seen United as a cash cow and that cow is running dry. More and more sugar daddy owners are coming into the league, they need to invest well over a billion into the club to modernise it and thats ignoring the massive millstone of the debt servicing and their dividends hanging over the club.
If they don't sell they will run the club into the ground to the point where its value will absolutely tank. They have leeched from the club for so long that they don't really have a good choice. The only saving grace is that we currently have a good manager and squad and seem to be building on the pitch. If that wasn't the case there would be blood on the streets if the Glazers didn't sell after all this.
If they don't sell they will run the club into the ground to the point where its value will absolutely tank. They have leeched from the club for so long that they don't really have a good choice. The only saving grace is that we currently have a good manager and squad and seem to be building on the pitch. If that wasn't the case there would be blood on the streets if the Glazers didn't sell after all this.
but fans helped bring it down did they not?
the Glazers did a lot of PR too right? they even hired a football journalist for it. They wouldn't do that if they didn't care about fan opinion.
If Barca can asset strip and create countless levers, I am sure the glazers got a few ideas from laporta
Let’s say a hedge fund/ PE buy out the siblings, they will look to exit in max 7-10 years, there’s still the need for an extra £1.5-2bn in investment.
The other thing are the fans. I know people always say these feckers don’t care but these guys also consider these things.
- Status