And here we go Understand the Glazers have put a new tranche of Manchester United shares up for sale. Filing to SEC of ‘proposed maximum aggregate offering’ of €823m. Class A shares with restricted voting rights. Share price at 2-year low following today’s financials.https://t.co/BUMVS9AlbG pic.twitter.com/jcZbTnRMSD— Duncan Castles (@DuncanCastles) September 24, 2019
That move does not show an intent to sell IMO. More like a move made to generate cash in order to pay off the debt (which apparently has gone up) or it could be a preemptive move to counter the loss of revenue that is expected in the next year, possibly even 2. I think that selling those shares would be the last thing the Glazers would want to do, if they had any intention in cashing in completely soon.
From what I have read previously, the limited number of A shares the Glazers make available (and are making provision for) are as described “restricted” in terms of voting rights - so not of use to anyone looking to buyout the club. In the past there have been accusations that large “fees” etc. have been charged to the club whenever debt or share structures have been changed (ie used as another means to siphon money from the club). As noted in the conference, outlook for shareholders (ie the Glazers) is less favourable owing to loss of income from CL football - so not really a surprise they are making provision (which is all they have done at this stage) to raise money to make up for any shortfalls. Of course they could keep money in club and use any raised money on player acquisition or debt pay-down rather than covering dividend shortfall
They are selling a large tranche. The money is not being used to repay debt. The debt is held by man u within the corporate entity The glazers own these shares separately
It's as @cr7torossi indicated At some point they will dump a large tranche But this is only a preliminary step
No CL means cut costs, ways to do this; - move expensive players on (some of whom Ole wanted to keep) - sign players up to longer contracts regardless of quality (cheaper than going in to market to replace) - only buy a few players, bare minimum (7 out only 3 in) - keep the Glazers guy as our head-of-football to keep the real focus (a DoF would undermine that) - pad the gaps in the squad with academy players (cheap and is a great excuse, spin it as looking to youth, looking to future etc.) - as long as sponsor revenue and fans buying merch continues the club remains the thing it mainly is these days - the Glazers ATM ...
Agree w/ most of that but I think it is important to note that a good DoF saves United more money than any outgoing sales or loans could. A proper DoF doesn't sign Sanchez to that deal or pay Rojo's stupid wages making it impossible to move him on. A proper DoF would have had us making more buys like AWB and Dan James and fewer like Fellaini (not a knock, but he was at the peak of his powers and not good enough) or Zlatan.
do you know which ones he wanted to keep? thinking about his past quotes again i am almost convinced he wanted to try with Sánchez one more time
The rumour (& his quotes) were that Ole was fine with keeping Sanchez - supposedly that one was mostly Woodward for financial reasons to mitigate some of his salary for a year (and to hide Eds embarrassment for 12 months). Ole said multiple times that if players left they would be replaced (which was what presumably he was told by Ed).
Local fans often highlight how poorly the stadium is maintained. Badly managed stewards, lack of accident procedures along with the leaking roof, people breaking in etc. Doesnt look like the club has responded well to a fan losing his life there. EXCLUSIVE: Manchester United told to ‘take action or risk further deaths’ after lifelong fan, 80, died following fall inside Old Trafford https://t.co/xc1VZNem4N via @MailSport— Mike Keegan (@MikeKeegan_DM) October 8, 2019
How in the hell... https://www.espn.com/soccer/manches...nited-expect-to-break-world-record-shirt-deal
Im not sure how to react to this news.. should i be pessimistic (inclined) or feel encouraged... Glazers continued commercial gains means they wont give 2 shits abt on the pitch issues..
https://www.skysports.com/football/...-not-looking-to-sell-manchester-united-shares Kevin Glazer not looking to sell his shares in Manchester United, contrary to some rumors that popped up earlier today.
A lot of our recruitment department have been there for ages, should have had some better people in long ago ... #mufc hire external “spy firms” to perform background checks on potential signings - after failing to realise Marcos Rojo was on double assault investigation by Argentine police when signing him from Sporting. Big inside #mufc read by @DTathletic https://t.co/hBHCt9l6pI— Adam Crafton (@AdamCrafton_) October 16, 2019
https://www.theguardian.com/football/2019/oct/17/glazers-legacy-manchester-united-liverpool Pretty poor indictment on the Glazers, especially when compared to how Pool and City have been run by their respective ownership groups. Speaks volume really.
The Glazers are scumbags. Ed is an increasingly incompetent scumbag. Owners are what they are in this society, however they have no ambition or emotion or responsibility for the club or its fans at all besides keeping it a going concern to leech from it. Have no choice in supporting the club. Do have a choice in where I spend my money - so haven't gone to a game in a long while, have ditched MUtv and won't be buying any shirts or merch, have unfollowed, will not be getting app etc. Is fairly meaningless but means I can live with myself. F$$k 'em
The Glazers are not ready to sell United yet, according to Woodward. https://www.manchestereveningnews.c...l-news/man-utd-news-woodward-glazers-17116049