Originally Posted by Denis Irwell
Decent perspective in the latest Athletic.
Accumulative value of shares and value of the debt is normally taken into account to formulate value of the club. Apparently, Glazers getting excited every time share prices go up and citing that value when it is at the crest of the wave. Bidders, rightly pointing out that it is only because of any rumoured progress with their take over that share values actually rise. As soon as there’s any murmurs of the leeches staying, values plummet but these £#%&!ers, typically, seek to benefit from the value of bidders interest when shares peak and that’s where the difference in the club’s value lies. Hence current impasse. In the bidders eyes, club is valued at what it is under current ownership, not their prospective ownership.
Also suggests nothing will be done until May, when it is known whether we have qualified for CL, new season ticket income is incoming and a clearer view of prospective transfer plans can be made.
Not really accurate though. Share price of a fully listed company clearly impacts on what a bidder has to pay, as you wouldn’t expect shareholders to sell at less than current trading price. But United is not fully listed. Only the A Shares are listed and the Glazers own (I think) only around 10% of them. They do, however, control around 60% (again I think, as things things can be opaque) of the unlisted B Shares, which is where they will extract their value.