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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 |
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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. |
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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? |
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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. |
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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. |
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