Seems like only yesterday we were hearing how Big Jim had outfoxed the Qataris by formulating a structure that allowed the Glazers to stay. Life moves fast.
Club Sale | It’s done!
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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.
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Seems like only yesterday we were hearing how Big Jim had outfoxed the Qataris by formulating a structure that allowed the Glazers to stay. Life moves fast.
Thread title update : both bids are dead or maybe not
They've commented on financial stuff that didn't materialise.
It doesn’t make it more likely? Even the report yesterday said they could make a last minute decision to go for minority which means that isn’t what’s on course to happen now
This guy seems to have the latest update, Authentic as ****
Now haters will say he knows nothing but i disagree. He got emails ...
Is the play on uniTED Bundy intentional??
If their offer is dead in the water and they understand that to be the case, then I think the first we hear of anything will be INEOS confirming they've withdrawn from discussions.
So what happens if they don't sell ?
But..but..but Ratcliffe wants to buy all the Glazers shares…
Guys a fraud
Guys a fraud
They will.So what happens if they don't sell ?
It's Thursday in the UK pal.
The way this saga has gone, the INEOS bid is dead in the water but the twist is the said body of water is the fountain of life.
As an aside, we need a ‘dead in the water’ mention count like we have with ‘walk away’
As an aside, we need a ‘dead in the water’ mention count like we have with ‘walk away’
They can’t afford not to sell in some way
He’s not. He might exist but he ain’t a real person.
There’s literally zero chance they will accept minority investment. How does that even work, they sell their shares, own less of the business and the club is still in the same financial shit we are currently in? Or is it suggested that they will use that as capital to invest back into the club to speculate / accumulate. When have they ever put their own money into the club? How would they expect to turn a profit on that?
Would they expect minority investors to put capital in on top of purchasing shares (and get no additional shares in return?) nobody is signing up to that.
Think there could be a legal threat from minority shareholders in event of a non-sale too - they would drop below $15 a share so could allege stock manipulation on behalf of the Glazers. I'm far from an expert though.
if INEOS are actually out, then Qatar are probably getting to the point where they could give the Glazers more of an ultimatum. either accept our bid by x or we're officially withdrawing. scare the Glazers into a decision by being left with no sale at all.
Outsmarted himself by proposing an impossible deal
I thought Jassim was being superfluous when he banged on about the whole debt-free and especially the 100% buy-out spiel. I guess he did his due diligence.
The more you look at it the better the Qatari strategy looks.
The idea the Qataris have had anything other than the best M&A talent money can buy from the very start was laughable
Someone burns OT down and they sell before they have to finance a rebuild?So what happens if they don't sell ?
Absolutely
Outsmarted himself by proposing an impossible deal
Most likely didn't have access to enough liquidity so tried every other possibility...
Agreed. Matter of time now, Qatar and Double Glazing just need to agree on the fee.
Not to tempt fate or anything, but imagine the backlash if the Glazers just straight up rejected all bids took the club off the market.
He’s not a fraud - he’s just not wealthy enough.
Money talks. The Glazers always wanted to twerk for Qatar and they used SJR to get the price up.
It was always the plan and the Glazers have exceeded their own expectations.
Matter of time until we hear more on the actual bid amount and not rumoured one. Bloomberg guy has one from a very good source but is waiting on a second source as it’s their policy.
Still reports that the Glazers want more money and no sale is still an option.
They have put £0 in the club and will not even feck off, seriously.
They have put £0 in the club and will not even feck off, seriously.
Feck me so this would have been done months ago if anybody realised Jim’s bid was a fraud
It's just Joel and Avram delaying the inevitable, they will go.
None of the media know anything apart from Bloomberg. We need to stop getting angry and negative about everything as for all we know, everything is being put in place right now.
Also, the fact that the people close to the deal have signed NDA’s tells you everything. It’s why the likes of Ben Jacobs have to Tweet out their daily nonsense. Their sources won’t know anything or, can’t say anything.
It's obvious what is going to happen
Ask yourself if you really believe that Ineos dropping out (which is hypothetical because we don't know that for sure yet) means they'll just make it an easy transaction with Qatar
It's clear how they operate, they need to pit bidders against each other. If it won't be INEOS, it'll just be somebody else and the next available thing will be the likes of Carlyle. And IMO it is naive to think we don't have weeks ahead of this, if not months, due to the Glazer's greed.
Guarantee you that over the next days and weeks, we will hear much more about the minority investment
I'm not an expert either but it seems weird that they have to sell to the buyer who is offering to buy 100% including minority shares, than for example someone who is offering money more for Glazer shares alone (assuming that Inesos have actually done this). Surely they should be able to take the biggest offer for their own shares if they want as they never said they were selling the whole club, just looking for "strategic alternatives".
Agree doesn't seem to make any sense and having read some of the more knowledgeable poster comments.
They appear to need to finance only to buy out the 4 siblings. They could then mortgage/charge their shares.
That I can see.
However what would the investment funds want in return?
Sky high interest rates - how would Jole and Av pay those, they have limited cash returns (asset rich /cash poor).
A long term sale where the investment funds are rewarded on exit? but again they will be seeking a king's ransom. Why would Joel and Av agree to that.
Also who is going to invest (Old Trafford/facilities) into the club during the interim, not the Glazers and the funds would have already paid out to buy off the outbound Glazers, they could lend more but only at extortionate rates.
Does not make sense for the grasping Glazers then to pay so much of their 'profit' to investment funds on projected income when the competition from other teams is getting stronger.
One of the first things parties would consider in a genuinely-contested M&A when assessing a suite of potential options is the effect on shareholders. The idea this has suddenly sprung up is daft.
I actually said from very early on among the mates, that Ratcliffe was a pawn in all of this. He was a facilitator in helping the glazers squeeze as much out of SJ as they could. His initial proposal / presentation lacked any kind of effort at all. Was never really interested imo.
Rarely though and they are a far more reliable source on business and finance then random football journalists anyway.
How can you assume things are being put in place?
I am negative because we are due for pre season in 2 weeks and EtH is going to go into a pre season with a much much weaker squad without a keeper, ST and limited CM choices. Other clubs have all strengthened.
Not only that, we will be chasing players that are 2nd 3rd choice.
The fact that he wasn’t aware of these complications with his experience in M&A certainly doesn’t reflect well on him or his people. To come this far into the process and realise their bid isn’t viable.
I though it was clear that Qatar are now the front runners and that INEOS are about to withdraw. Unless the opposite is true. And there is at least a 0.5 chance of that. Probably.
I will advocate violence if Glazers stay.
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