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Unread 26-03-2023, 12:42 PM
windy waffles
 
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Originally Posted by dunk View Post
Imagine you and your siblings were offered the thick end of a billion each to walk away from something and one of them was like ‘nah’
Its like a real life epsiode of Succession.
 
Unread 26-03-2023, 12:44 PM
Chris Quayd
 
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Whatever 'fishing expedition' he was on it's now too late to row back as the bidders he would have messed about have seen the books. They would be leaking anything and everything to drive down share price.
 
Unread 26-03-2023, 12:54 PM
Neo
 
Lightbulb

Explains why Avi was the only one of the family at Wembley for the League Cup final.

Top away day Red. He gets us, loves the club, can't let go.

Joel still hurting from The King's exit, NQAT.
 
Unread 26-03-2023, 01:06 PM
ZiggyStardust
 
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Quote:
Originally Posted by Ethers View Post
Why are you saying they?

The report is just Avram is thinking that way. It doesn’t mean they all went into the process with the same intentions. In fact, it means precisely the opposite.
They the Glazer family agreed to go through with this process with Raine and they as a family will decide who to sell the club to

I don’t buy for one minute that Avram and Joel will buy out the rest of the family and carry on owning Utd on their own
The terms someone like Elliot would give to fund that would be astronomical and they’d have a condition like with Milan that they would take over the club if Avram and Joel defaulted on their payments

The only thing that makes financial sense to all the Glazer family is to sell to the bidder with the best financial offer
 
Unread 26-03-2023, 04:16 PM
92ToBury
 
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Quote:
Originally Posted by dinger View Post
He’ll just start taking his Divi’s again, he’s losing £#%&! all
That's the one thing they cannot do if United is losing money. Dividends are earnings per share paid from profits (although they've probably moved the business entity that can declare dividends to a jurisdiction where you can in exceptional circumstances).

They can keep paying director fees, etc. because they happen as part of the standard expenses. However, the business is going to start losing value.

Revenues are roughly what they were five years ago but instead of operating expenses being c.£30m less than revenues, they're now over £80m more than operating expenses, mostly from staff expenses.

2019 was the only year in the last five where they've turned a profit for the year.


The balance sheet is just as gloomy. Total liabilities are fairly stable (albeit higher), but total assets are steadily dropping, from £1.545bn in 2018 to £1.29bn in 2022. If you put a straight line through that, the club is clean out of assets in 30 years. Obviously that's not the case because of bricks and mortar assets but that's a pretty significant sign of the mismanagement of the club assets that has been happening.
 
Unread 26-03-2023, 04:32 PM
dinger
 
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Quote:
Originally Posted by 92ToBury View Post
That's the one thing they cannot do if United is losing money. Dividends are earnings per share paid from profits (although they've probably moved the business entity that can declare dividends to a jurisdiction where you can in exceptional circumstances).

They can keep paying director fees, etc. because they happen as part of the standard expenses. However, the business is going to start losing value.

Revenues are roughly what they were five years ago but instead of operating expenses being c.£30m less than revenues, they're now over £80m more than operating expenses, mostly from staff expenses.

2019 was the only year in the last five where they've turned a profit for the year.


The balance sheet is just as gloomy. Total liabilities are fairly stable (albeit higher), but total assets are steadily dropping, from £1.545bn in 2018 to £1.29bn in 2022. If you put a straight line through that, the club is clean out of assets in 30 years. Obviously that's not the case because of bricks and mortar assets but that's a pretty significant sign of the mismanagement of the club assets that has been happening.

Excuse my ignorance but have they not been taking millions out every year regardless of turning a profit or not? I thought the only reason the past quarters divs were not taken was to fluff up the wealth, no?
 
Unread 26-03-2023, 08:49 PM
92ToBury
 
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Quote:
Originally Posted by dinger View Post
Excuse my ignorance but have they not been taking millions out every year regardless of turning a profit or not? I thought the only reason the past quarters divs were not taken was to fluff up the wealth, no?
They've been doing both for years. I think the accumulation of Woodward's squad dross (asset protection of Jones, etc), failure to be regular Champions League contenders and the pandemic have been a perfect storm for them that have prevented them doing both. They're really having to work hard on fluffing up the wealth given the balance sheet issues stated above. If it wasn't for Ten Hag, they'd be fecked.
 
Unread 27-03-2023, 04:20 AM
believe
 
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Quote:
Originally Posted by 92ToBury View Post
They've been doing both for years. I think the accumulation of Woodward's squad dross (asset protection of Jones, etc), failure to be regular Champions League contenders and the pandemic have been a perfect storm for them that have prevented them doing both. They're really having to work hard on fluffing up the wealth given the balance sheet issues stated above. If it wasn't for Ten Hag, they'd be fecked.
How?
 
Unread 27-03-2023, 11:09 AM
Sparky***
 
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The more this shit drags on, the more I’m convinced they’re going nowhere. All this talk of Avi and Joel just seeking minority investment makes me want to vomit.
 
Unread 27-03-2023, 11:16 AM
Dr Stranger
 
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Originally Posted by Sparky*** View Post
The more this shit drags on, the more I’m convinced they’re going nowhere. All this talk of Avi and Joel just seeking minority investment makes me want to vomit.
It only seems like it’s dragging on because every arsehead journalist posts something new each day and then we all read it on here.

I don’t expect a £5-6bn purchase to happen overnight. Timeline seems about right.

I can’t see how they’ve got Raine involved, had Qataris and Ratcliffe visit with no intention of selling. They’re milking it and I’d fully expect them to in their position.
 
Unread 27-03-2023, 11:28 AM
Bunker Buster
 
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Originally Posted by Sparky*** View Post
The more this shit drags on, the more I’m convinced they’re going nowhere. All this talk of Avi and Joel just seeking minority investment makes me want to vomit.
That's unlike you.....
 
Unread 27-03-2023, 11:33 AM
Sparky***
 
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Quote:
Originally Posted by Bunker Buster View Post
That's unlike you.....
Shouldn’t you be over on ‘red pill.org’ shouting about chemtrails and 5G masts
 
Unread 27-03-2023, 11:39 AM
Ethers
 
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Jesus, something in the water today?

Absolutely brutal on here for a Monday morning
 
Unread 27-03-2023, 11:44 AM
Dr Stranger
 
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Originally Posted by Ethers View Post
Jesus, something in the water today?

Absolutely brutal on here for a Monday morning
International break innit. Tempers fray.
 
Unread 27-03-2023, 01:55 PM
tatty
 
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Originally Posted by Ethers View Post
Jesus, something in the water today?

Absolutely brutal on here for a Monday morning

Wow, Chief Shit Flinger in ‘lets all calm down’ plea.
 
Unread 27-03-2023, 03:37 PM
Ethers
 
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Originally Posted by tatty View Post
Wow, Chief Shit Flinger in ‘lets all calm down’ plea.
Who said anything about calming it down baldy?

I love the beef.
 
Unread 27-03-2023, 05:29 PM
BigJim
 
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Let's hope Darcy has the casting vote.

Sale, not BB vs Sparky.
 
Unread 27-03-2023, 06:08 PM
92ToBury
 
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Originally Posted by believe View Post
How?
Say we had another failed manager. No hope of Champions League (where revenues from UEFA alone are up to 85m compared to 25m in the Europa), the baggage, the lower levels of confidence from the crowd, etc. The Qataris would actually be in a much stronger position because the club's value would be lower.
 
Unread 28-03-2023, 05:26 PM
Motown Manc
 
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There's very little chance they'll stay imo. If they go via the partial sale route, surely the money they receive isn't going to the club, but in their pockets meaning we're still in the same position we were in before the partial sale, haemorrhaging £££millions a month. It's unsustainable.

The only way they'll manage to stay beyond the situation we currently find ourselves in is to receive investment minus the partial sale (selling Old Trafford's naming rights), that's the only way I can see them staying in any capacity.
 
Unread 28-03-2023, 06:30 PM
windy waffles
 
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Quote:
Originally Posted by Motown Manc View Post
There's very little chance they'll stay imo. If they go via the partial sale route, surely the money they receive isn't going to the club, but in their pockets meaning we're still in the same position we were in before the partial sale, haemorrhaging £££millions a month. It's unsustainable.

The only way they'll manage to stay beyond the situation we currently find ourselves in is to receive investment minus the partial sale (selling Old Trafford's naming rights), that's the only way I can see them staying in any capacity.
Thanks for the update, Kaveh.
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