I imagine that letter will end up in the circular file
The letter will do nothing on its own, but there are no silver bullets in situations like this. If there is a combination of sustained pressure from supporters and increased risk of shifts in regulation that kerb the freedoms of owners to extract wealth from clubs, then this kind of message from the financial community might just be heard in a different context. I'm not massively optimistic but every little push in the right direction is welcome.
The Glazer family want £4bn to sell #mufc. The Glazers believe the price tag is justified because of United's unique heritage and commercial pulling power that allows them to continually secure big money sponsorship deals #mulive [mirror]
comment by The Post Nearly Man. Fckthglzrs. (U1270)
posted 9 minutes ago
I imagine that letter will end up in the circular file
----------------------------------------------------------------------
yep was thinking similar.
If people remember their history, the Glazers looked to float the club in Hong Kong, and then Singapore, but had to backtrack on those plans because as in the UK (and most of the rest of the world), those countries would not allow a dual class share structure, requiring that equal voting rights are afforded to shareholders.
United's share structure will continue to allow the Glazers to dispose of their Class A shares how and when they see fit, transferring them on sale to Class B status, meaning that the voting rights previously held by each share disappears into thin air.
This will allow the Glazers to continue to raise funds for themselves without giving up any control whatsoever of Manchester United plc.
Interestingly enough, Tory peer Lord Hill has recently published a report commissioned by Rishi Sunak which recommends allowing the creation of dual-class share structures in the premium listing segment of the London Stock Exchange so that billionaire entrepreneurs wanting to float on the LSE can pull off the same kind of scam in the UK.
£4bn's not going to get many takers outside the gulf states. Like RR says, the best we can hope for is that regulation/legislation makes the the environment uncomfortable for them to the point that we don't fit their business model any more.
comment by _Viva_Vida (U6044)
posted 2 minutes ago
The Glazer family want £4bn to sell #mufc. The Glazers believe the price tag is justified because of United's unique heritage and commercial pulling power that allows them to continually secure big money sponsorship deals #mulive [mirror]
----------------------------------------------------------------------
That's why I like going after the sponsors - and telling the club we're going after the sponsors - in the form of a public boycott as a tactic to try to force them out.
Would love Sir Jim Ratcliffe to throw his hat into this ring as he has thought about this previously.
He's English so knows about the history and heritage of English football and has a similar net worth to Roman Abramovich.
The Spotify bloke is teaming up with Henry, Bergkamp and Vieira to launch a takeover bid for Arsenal.
That will be music to the ears of Arsenal fans.
Also LOL at the Glazers citing the club's heritage as a USP when they've spent their entire tenure doing their very best to dismantle that heritage in various ways.
The cuuuuuuunts.
comment by Red Russian (U4715)
posted 18 minutes ago
The letter will do nothing on its own, but there are no silver bullets in situations like this. If there is a combination of sustained pressure from supporters and increased risk of shifts in regulation that kerb the freedoms of owners to extract wealth from clubs, then this kind of message from the financial community might just be heard in a different context. I'm not massively optimistic but every little push in the right direction is welcome.
----------------------------------------------------------------------
Exactly. It's about riding the wave now and hopefully doing what we can to keep the momentum up.
Pressure, pressure, pressure from all corners.
comment by rosso - time to #takefootballback #GlazersOut (U17054)
posted 2 minutes ago
Also LOL at the Glazers citing the club's heritage as a USP when they've spent their entire tenure doing their very best to dismantle that heritage in various ways.
The cuuuuuuunts.
----------------------------------------------------------------------
That bit made me grimace
Jim O'Neill was on the United We Stand podcast yesterday. Listening now.
Their ESL plans would have probably doubled the value of United up to around £4B which I suspect has always been the Glazers Exit strategy. They would have then realised United at their asking price soon afterwards. But now the ESL is dead (for now) the Glazers will have to be content with continuing on as parasite owners of their United cash cow, as before.
This is why I am convinced that the ESL project isn't actually dead, but just on hold, whilst these tw@ts concoct a revised proposal to chuck in our faces in the not too distant future.
We are the knights who say O'Neil O'Neill O'Neil
comment by RB&W - Always a Legacy (U21434)
posted 2 hours, 33 minutes ago
Their ESL plans would have probably doubled the value of United up to around £4B which I suspect has always been the Glazers Exit strategy. They would have then realised United at their asking price soon afterwards. But now the ESL is dead (for now) the Glazers will have to be content with continuing on as parasite owners of their United cash cow, as before.
This is why I am convinced that the ESL project isn't actually dead, but just on hold, whilst these tw@ts concoct a revised proposal to chuck in our faces in the not too distant future.
----------------------------------------------------------------------
They'll keep periodically shedding Class A shares (in the process converting them to Class B) whilst continuing to milk the club for dividends.
I don't think they're very interested in finding a buyer. Avram Glazer put about £70m of his shares up for public sale last month, representing about a 3% share in the club. By doing so, he relinquishes absolutely none of the family's control of the club, as the shares the new shareholders inherit will have next to no voting rights.
They can keep doing that - a few million shares here and there raking in tens of millions at a time.
Theoretically, the ownership model would allow them to move to a minority stakeholding position whilst still retaining control of the club.
Interesting to see that the Italian Football Federation have, just this afternoon, added a new rule that forbids any breakaway club from playing in Serie A.
So, certainly no Italian clubs involved in any future ESL proposal.
It's a start.
These clowns are at it again. Last time they significantly undervalued the club.
Not sure why anyone takes them seriously.
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posted on 26/4/21
I imagine that letter will end up in the circular file
posted on 26/4/21
The letter will do nothing on its own, but there are no silver bullets in situations like this. If there is a combination of sustained pressure from supporters and increased risk of shifts in regulation that kerb the freedoms of owners to extract wealth from clubs, then this kind of message from the financial community might just be heard in a different context. I'm not massively optimistic but every little push in the right direction is welcome.
posted on 26/4/21
The Glazer family want £4bn to sell #mufc. The Glazers believe the price tag is justified because of United's unique heritage and commercial pulling power that allows them to continually secure big money sponsorship deals #mulive [mirror]
posted on 26/4/21
comment by The Post Nearly Man. Fckthglzrs. (U1270)
posted 9 minutes ago
I imagine that letter will end up in the circular file
----------------------------------------------------------------------
yep was thinking similar.
posted on 26/4/21
If people remember their history, the Glazers looked to float the club in Hong Kong, and then Singapore, but had to backtrack on those plans because as in the UK (and most of the rest of the world), those countries would not allow a dual class share structure, requiring that equal voting rights are afforded to shareholders.
United's share structure will continue to allow the Glazers to dispose of their Class A shares how and when they see fit, transferring them on sale to Class B status, meaning that the voting rights previously held by each share disappears into thin air.
This will allow the Glazers to continue to raise funds for themselves without giving up any control whatsoever of Manchester United plc.
Interestingly enough, Tory peer Lord Hill has recently published a report commissioned by Rishi Sunak which recommends allowing the creation of dual-class share structures in the premium listing segment of the London Stock Exchange so that billionaire entrepreneurs wanting to float on the LSE can pull off the same kind of scam in the UK.
posted on 26/4/21
£4bn's not going to get many takers outside the gulf states. Like RR says, the best we can hope for is that regulation/legislation makes the the environment uncomfortable for them to the point that we don't fit their business model any more.
posted on 26/4/21
comment by _Viva_Vida (U6044)
posted 2 minutes ago
The Glazer family want £4bn to sell #mufc. The Glazers believe the price tag is justified because of United's unique heritage and commercial pulling power that allows them to continually secure big money sponsorship deals #mulive [mirror]
----------------------------------------------------------------------
That's why I like going after the sponsors - and telling the club we're going after the sponsors - in the form of a public boycott as a tactic to try to force them out.
posted on 26/4/21
Would love Sir Jim Ratcliffe to throw his hat into this ring as he has thought about this previously.
He's English so knows about the history and heritage of English football and has a similar net worth to Roman Abramovich.
posted on 26/4/21
The Spotify bloke is teaming up with Henry, Bergkamp and Vieira to launch a takeover bid for Arsenal.
That will be music to the ears of Arsenal fans.
posted on 26/4/21
Also LOL at the Glazers citing the club's heritage as a USP when they've spent their entire tenure doing their very best to dismantle that heritage in various ways.
The cuuuuuuunts.
posted on 26/4/21
comment by Red Russian (U4715)
posted 18 minutes ago
The letter will do nothing on its own, but there are no silver bullets in situations like this. If there is a combination of sustained pressure from supporters and increased risk of shifts in regulation that kerb the freedoms of owners to extract wealth from clubs, then this kind of message from the financial community might just be heard in a different context. I'm not massively optimistic but every little push in the right direction is welcome.
----------------------------------------------------------------------
Exactly. It's about riding the wave now and hopefully doing what we can to keep the momentum up.
Pressure, pressure, pressure from all corners.
posted on 26/4/21
comment by rosso - time to #takefootballback #GlazersOut (U17054)
posted 2 minutes ago
Also LOL at the Glazers citing the club's heritage as a USP when they've spent their entire tenure doing their very best to dismantle that heritage in various ways.
The cuuuuuuunts.
----------------------------------------------------------------------
That bit made me grimace
posted on 26/4/21
Jim O'Neill was on the United We Stand podcast yesterday. Listening now.
posted on 26/4/21
Their ESL plans would have probably doubled the value of United up to around £4B which I suspect has always been the Glazers Exit strategy. They would have then realised United at their asking price soon afterwards. But now the ESL is dead (for now) the Glazers will have to be content with continuing on as parasite owners of their United cash cow, as before.
This is why I am convinced that the ESL project isn't actually dead, but just on hold, whilst these tw@ts concoct a revised proposal to chuck in our faces in the not too distant future.
posted on 26/4/21
We are the knights who say O'Neil O'Neill O'Neil
posted on 26/4/21
comment by RB&W - Always a Legacy (U21434)
posted 2 hours, 33 minutes ago
Their ESL plans would have probably doubled the value of United up to around £4B which I suspect has always been the Glazers Exit strategy. They would have then realised United at their asking price soon afterwards. But now the ESL is dead (for now) the Glazers will have to be content with continuing on as parasite owners of their United cash cow, as before.
This is why I am convinced that the ESL project isn't actually dead, but just on hold, whilst these tw@ts concoct a revised proposal to chuck in our faces in the not too distant future.
----------------------------------------------------------------------
They'll keep periodically shedding Class A shares (in the process converting them to Class B) whilst continuing to milk the club for dividends.
I don't think they're very interested in finding a buyer. Avram Glazer put about £70m of his shares up for public sale last month, representing about a 3% share in the club. By doing so, he relinquishes absolutely none of the family's control of the club, as the shares the new shareholders inherit will have next to no voting rights.
They can keep doing that - a few million shares here and there raking in tens of millions at a time.
Theoretically, the ownership model would allow them to move to a minority stakeholding position whilst still retaining control of the club.
posted on 26/4/21
Interesting to see that the Italian Football Federation have, just this afternoon, added a new rule that forbids any breakaway club from playing in Serie A.
So, certainly no Italian clubs involved in any future ESL proposal.
It's a start.
posted on 27/4/21
These clowns are at it again. Last time they significantly undervalued the club.
Not sure why anyone takes them seriously.
Page 1 of 1