Glazer OUT......

bump

Originally Posted by The taste of...

£#%&!ing hell

last five pages - will I ever get that time back

PM it fellers eh?

Got home and saw there was loads of pages added to this, so I thought there'd been some news on the 'take-over'.

Great.

Originally Posted by jem

gosh. just as well no one asked about the lack of investment by the glazers, selling ronaldo and not spending the money to replace him (or hargreaves) and the fact that whilst the club benefits in no way from the massive debt burden it is a continuing drain on resources and negatively affects on-field matters (not to mention representing an overhanging risk).

although we'd just have to read about scholes and giggs not retiring, the fact we haven't sold rooney (yet / apparently / big spending coming) and how sky is evil but giving your money directly to the glazers is tickety boo.

everything's going to be ok, so you should never have worried. no need even for a phew. we are all qataris now.

Great post Jem.

Of course...we have always done it this way, just look at our transfer record.

The simple question is;

Have the Glazers affected United/our transfer activity etc?

The answer is fairly obvious but will be denied by 1-2 on here.

Hm. Interesting.

David Gill believes Manchester United are worth £1.25billion - and will only get bigger and bigger.

The United chief executive was talking after reports emerged of a bid by the Qatari royal family to buy the club, reports that were quickly denied by United.

Gill is quoted by Arabian Business.com as saying: "Well Forbes reckon we are the most valuable sporting franchise in the world...and they compare that with other football clubs, but also with the likes of the Dallas Cowboys and so on.

"It [the valuation] is nearly $2 billion."

Gill, who was speaking at the launch of a United football school in Abu Dhabi last week, went on to say: "Football is only going to get bigger. The World Cup gets bigger, the Euros get bigger, the Champions League gets bigger, the Premier League gets bigger.

"And so to be one of the leading clubs within that, we are going to benefit and make sure we continue to push forward."

http://www.football365.com/story/0,1...699898,00.html

Originally Posted by redloner

Hm. Interesting.

http://www.football365.com/story/0,1...699898,00.html

Could it be the Glazers are holding out for $2 billion, not pounds, as was reported at the weekend?

Originally Posted by The Watcher

Could it be the Glazers are holding out for $2 billion, not pounds, as was reported at the weekend?

$ makes it a slightly more palatable and realistic figure, having said that, after seeing reports that £2bn might be possible, they will probably hold out for that now

assuming they haven't already agreed a price.

throb probably thinks they're just dotting the "i"s and crossing the "t"s on a resolution to the arab-israeli conflict before announcing it.

Based on a Forbes valuation? Might as well ask Iggle Piggle.

Originally Posted by dunk

$ makes it a slightly more palatable and realistic figure, having said that, after seeing reports that £2bn might be possible, they will probably hold out for that now

Qatar look like the only game in town. I expect a deal will be agreed by the summer.

Originally Posted by The Watcher

Qatar look like the only game in town. I expect a deal will be agreed by the summer.

Unless they really aren't interested, in which case we are dead in the water...

Originally Posted by dunk

Unless they really aren't interested, in which case we are dead in the water...

That’s always a possibility, but from what anecdotal evidence there is I think the interest is genuine. Time will tell

Nobody in their right mind will buy the club at that price with the amount of debt we have.

If there is any push to raise the profile of Quatar from a football sense it's now been done

Move along, nothing to see here

Originally Posted by Harri Jaffa

Nobody in their right mind will buy the club at that price with the amount of debt....

at that price, they would insist the club were debt free. which wouldn't worry the glazers. they would still be laughing.

the world cup is just for christmas; united is for life. even the qataris know international football is shite.

Originally Posted by jem

at that price, they would insist the club were debt free. which wouldn't worry the glazers. they would still be laughing.

the world cup is just for christmas; united is for life. even the qataris know international football is shite.

If i'm honest I think the second I said is the most important - They have raised the profile now, nothing further needed on their part

Originally Posted by Harri Jaffa

They have raised the profile now, nothing further needed on their part

Yes, that's exactly how these people think.

Originally Posted by jem

assuming they haven't already agreed a price.

throb probably thinks they're just dotting the "i"s and crossing the "t"s on a resolution to the arab-israeli conflict before announcing it.

throb this throb that

you sad little man :shakehead:

Originally Posted by Tumescent Throb

throb this throb that

you sad little man :shakehead:

throb responded to my post.

I think he loves me. I just threw up in my mouth.

The Bond issue doesn't affect the valuation of the club. If the club is valued at £1.5 billion then the Qataris will either give the Glazers £1 billion and the Bond will continue, or the Glazers will redeem the Bond from the £1.5 billion payment from Qatar.

Originally Posted by hellvellen

The Bond issue doesn't affect the valuation of the club. If the club is valued at £1.5 billion then the Qataris will either give the Glazers £1 billion and the Bond will continue, or the Glazers will redeem the Bond from the £1.5 billion payment from Qatar.

effectively yes, if technically no. :0)

More from Andersred

Followers of the United finance story will know that unexpectedly on 22nd November last year, the Glazers found the £249.1m required to pay off the infamous PIKs.

In December, filings at Companies House showed that this money had been raised by issuing two new shares in United's UK parent company Red Football Shareholder Limited (2 new shares being 0.0002% of the issued share capital). RFS then bought two shares in its subsidiary Red Football Joint Venture (which owed the PIKs) for the same sum and RFJV used the money to repay the debt.

Today, with the filing at Companies House of Red Football Shareholders' "Annual Return", we learned a little bit more about that strange share issue. The Annual Return shows that 100% of RFS' shares (including the two new and very expensive ones) are now owned by a new company called Red Football LLC. Previously, all the shares had been owned by Red Football Limited Partnership, a Nevada company.

A quick search in the usual places shows that Red Football LLC is a new company in Delaware, the most secretive of all US states when it comes to corporations. The company, which through a string of four UK subsidiaries now owns 100% of Manchester United was formed on 4th November 2010, just under three weeks before the PIKs were repaid.

A 2009 report by the Tax Justice Network named Delaware, home to half of all US corporations, as the most secretive financial location in the world (beating strong competition from the Cayman Islands, British Virgin Islands etc). It is virtually impossible to get information on Delaware companies and it is almost as if the Glazers are trying to keep information about the PIK repayment secret. We don't know who the directors of Red Football LLC are, who its shareholders are or how it obtained the £249.1m.

This matters because there are really only two explanations for the repayment of the PIKs; either the Glazers have found some sort of equity to repay them (even though nobody can identify where that could have come from) or Red Football LLC has borrowed the money to repay the debt and the threat of the club's cash being used to service this new debt is still there. If it's the former then United are in a strong financial position despite the wasted £45m spent annually on bond interest. If it's the latter then the there is a high chance of the Glazers taking the £100m+ (and rising) of dividends to which they are "entitled" at some point in the future.

Naturally, we can't ask the Glazers anything about this as they won't talk to the fans and their employees in M16 don't appear to know. In my view that is not how the biggest football club in the world should be managed.