It was 2.5, with 1.75 in investments into the club over an unspecified period of time. Their debt was different than ours. I think they'll have to let go at a reasonable valuation. Somewhere between 3.5 and 4.
Sir Jim Ratcliffe: I want to buy Manchester United | Will make a bid for the club [Telegraph]
- Thread starter altodevil
- 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.
It was 2.5, with 1.75 in investments into the club over an unspecified period of time. Their debt was different than ours. I think they'll have to let go at a reasonable valuation. Somewhere between 3.5 and 4.
Part of that valuation has to go towards servicing the debt surely, they can't make a buyer pay them the market rate AND service the debt? As the debt lowers the net value of the asset doesn't it?
I know people are giddy over the Casemiero signing and there will be many more to come int he next 10 days. But hopefully the protest and the general mood against the Glazers continues as strong as ever. Little false dawns aside, they will never stop making a mockery of running this football club and need to go.
Yes I believe that is the case. My rudimentary understanding of the LBO is that the Glazers were supposed to increase the value and proportion of their equity while paying off the debt - in reality, they’ve mainly just rolled the debt making very little progress towards reducing the principal and made around 700 mil Pounds in interest payments. The club’s value went up during that period and boosted the value of their equity stake.
The price the buyer pays should include the debt:
Enterprise Value = Market Cap + Debt - Cash
But then again, I’m not Corporate Finance and my understanding could be wrong.
Fingers crossed our supporters can keep their heads and know what needs to be done - ie push out the vermin. I hope all these supporter groups and MUST can unite for the sake of United and make a concerted effort. There’s money that can be raised from International fans that can then be used towards organized protests and campaigns. All that money that many of us have not been spending on Man United merchandise, I’m sure we will happily donate towards funding “boots on the ground”.
Last edited:
Nope.
2018 they just didn’t meet the asking price, 2020 they did but after a complaint from I think BeIN about the Saudis funding piracy of the Premier League tv rights it went to court, then when the court case was dropped the deal went through. It never went away, it just went quieter while the dull stuff was going on.
Greatest scam in history
Most frustrating part about that for me is the legality of it. It really feels like dodgy business or immoral practices, but the way they made 5bn out of nothing was completely legal and not unheard of in the business world
Honestly can't begin to tell you what I thinking of the parasites!
This is precisely why I don’t believe a word of the take over. No one is going to invest billions buying shares without control. The Glazers need to sell in their entirety otherwise the deal doesn’t make sense. Said before this type of story always comes out when we are on the slide. Whether it’s to give fans hope of change or to quash protests before they happen. The Glazers play United fans through the media. Even our latest transfer stories have upped in quality compared to two weeks ago because of the fan reaction.
Gary is team Ratcliffe.
Morally too. A handful of people have made that off the back of a national cultural icon, and the goodwill of millions of fans. The Uk government and FA need to take this into account. There was a poster a few days ago who posted an extremely eloquent letter he/she has sent to decision makers. This weekend, when I’m not working and have enough time I am going to use his/her letter as a basis to write my own and send to local/national decision makers (it is important it is not copy and paste). I urge everyone to do the same until the issue can’t go unnoticed
You’re not wrong and this was probably there intention again this time around but i feel and hope that this time the tide has turned and starting with the protest tomorrow and all the social and online stuff we can throw at them and this Apollo lot they get the message and do one.Wedon’t ease up until Sir Jim is at the wheel.
Happy with him, he's got a big platform to shout from - keep it up Gary.
Actually makes sound sense to me to inject money in now short term, help boast stock value, and help boast the team on the pitch.
As reality is they going to have to start investing off the pitch long term soon and we know that's even more money, something which they aren't going to do as it involve their own pockets
I hope you realise I wasn't being serious...
Well I wasn't either.
He should try to get more ex-players and current players onboard and call for unification of fanbase under the GlazersOut campaign. Launch a multi pronged attack on Glazer ownership.
Only one problem with your theory, any of the shares Apollo buy from the Glazers, they get diluted. They get converted to A class shares. So they don't hold the same voting rights of the B class shares.
When Malcolm was buying the shares back in 2003, they were all the same. So when they were scooping up the shares, none was different to the others. Not the case now.
He should persuade his former boss to join. After all his greed placed us in this mess
Not without selling his stake in Salford City.
It actually is a fecking disgrace. And even if they got it for free basically, they took so much more out than in. They must be the worst owner in the history. They all may rot in hell
Neville might not be dead to me after all.
Not sure. He wants to be mayor.
I'm pretty sure he would.
Watching him on the Diary of a CEO podcast yesterday, he was saying he doesn't want to go into politics.
And one thing that also sticks out is, his business acumen. He is knee deep in property etc. He will be part of the club, I'm pretty certain.
If all this goes accordingly, I’ll be up at OT along with a red carpet for Sir Jim’s arrival.
Absolutely. But yet to be seen whether Apollo (or others) would only be looking to buy B class shares. As it is widely rumoured that the other glazer siblings want out, hence their shareholdings are B class shares (presumably).
If they wanted A shares, they could have just gone on the open market to snap them up.
Heres hoping its the start of the glazers exiting our club.
He's not giving up the Sky gig, so wouldn't be involved.
I wonder whether this Apollo interest is real or not, and whether it’s actually a negotiating tactic from the Glazers. One of their key people already has a stake in Palace and another had very close ties to Epstein, and that name is something everyone wants to stay away from at all costs.
Good on him. Definitely need the likes of him to publicly slate those leeches a few more times.
That’s interesting. It’s possible he’s involved in another another non-Ratcliffe bid. There’s going to be lots of buyers if this club is for sale.
He has said previously that he's not too sure how long he'd do punditry. If a gig like United comes along, I'm pretty sure he'd give it up.
I believe it is the Ratcliffe consortium. There's already been talk of how someone from class of 92 are involved.
Radlcliffe is the real deal. A lifelong Utd fan, would be buying the club to get us back to the top. We need to do all we can to get the Glazers out. its not an easy transaction, Glazer siblings have different goals right now.
If a member of the class of 92 is involved, it will be one that isn't shouting from the rooftops for the Glazers to go imo. Beckham fits the bill perfectly.
Why would that matter?
Beckham is maxed out with his own project at FC Miami anyway. Gary Neville is the absolute front runner for all intents and purposes.
He gave it up to take the Valencia job didn't he? Can't imagine he would turn down an opportunity to be involved with United in a more strategic role whatever the obstacles are.
how is this a problem for my theory? I have said all the money paid by Apollo will go direct to the 4 Glazers who want out, the two remaining Glazers will now have majority control of the club, Apollo will own a huge chunk of the club but one that gives them a minority of voting rights. No money is invested into Manchester United.
in a few years, once Joel and Avram have realised that a super league as they want it will be unlikely to happen, they will have already squeezed every last penny they can from the club, and only then will they look to sell for what they will hope is still a huge price where Apollo double their investment.
I may well be wrong, I even hope I am wrong, but nothing I have expressed here is outside the realms of possibility and especially not when you look at the track record of the utter cnuts who currently own the club.
Maybe. Sky would try to pull out all of the stops to prevent him from leaving though. He's a huge asset for them.
Zooming north