United thread 2012/13 (inc merged IPO thread)

[whyalwaysLee]

Lots of stupid comments on here and ragcafe. If they generate 300 million from the IPO and 100 million from Chevrolet up front, that's 400 million. (enough to pay off the debt)

The fact that they could settle it, but won't, means that they aren't bothered about the debt, and would rather pocket the cash. They will probably invest in a few players and milk the club for a few more years yet. Then the next time the team has a wobble they will flog some more shares and pocket another 300 million. They can keep doing this over and over, until the rags debt is the Glazers themselves, not the money owed to the banks.

But this is only possible with big deals every few years, like DHL and Nike. How many more US companies are there available to negotiate with every few years?

 

[Leyther]

The daftest part is this IPO values Utd at $3 billion - that's over twice the independently estimated value.

 

[citytill1die84]

<a class="postlink" href="http://andersred.blogspot.co.uk/2012/07/the-red-issue-forum-letter-to-sir-alex.html" onclick="window.open(this.href);return false;">http://andersred.blogspot.co.uk/2012/07 ... -alex.html</a>

 

[mcfcJosh111]

What happens if no one buys them since there's gonna be a lot of bad publicity?

 

[Blue Haze]

http://andersred.blogspot.co.uk/2012/07/the-red-issue-forum-letter-to-sir-alex.html

rofl

Ironic that Glazers couldn't sink the ship without good ol Fergie at the helm.

 

[bacuzzi]

So now the Glazers are selling 50% of their own shares and keeping the money, so roughly 150 million to the Glazer clan (Effectively that part of the iPO has nothing to do with Utd and everything to do with the Glazers lining their own pockets). Of the remaining 150 million. 73 million will pay off less than a fifth of the debt, 16 million will be lining Gill, Fergie and other executives pockets.

It says 50 million is the total transfer budget for 2012, so if we take out current spend (Don't know but according to reports was 17mill Kagawa and 6 mill Powell - that possibly leaves 27 mill for Van Persie. But no money left for any other transfers for the whole season!!

It looks like the Glazers have pushed everything through to shaft the club as much as possible whilst keeping Fergie, Gill etc happy with the sweeteners and a bit of transfer money. The real losers are the fans and anyone who invests. YCNMIU.

 

[bacuzzi]

Of course the front loaded shady Chevrolet money could be paying off more off the debt. I doubt if Chevrolet will try and get out of the deal if contracts have been signed and exchanged. So the most likely scenario is that the goalposts were moved after Chevrolet were shafted.

 

[1.618034]

http://andersred.blogspot.co.uk/2012/07/the-red-issue-forum-letter-to-sir-alex.html

Dear Sir Alex,

As lifelong Manchester United fans, we are disappointed and concerned by quotes attributed to you in a recent interview. Many of us are the same fans who protested to denounce Cubic Expression back in 2005. These are the same fans who had previously offered you their unwavering support during your private dispute over Rock of Gibraltar's breeding rights, despite Cubic Expression raising some very pertinent questions. In the spirit of fairness, we would like to invite you to clarify these comments by responding to a brief summary of our concerns:

1. You suggested that ‘the majority of real fans will look at it [Glazer ownership] and see that it’s not affecting the team’. Can you clarify what constitutes a real fan?

2. With thousands of fans leaving the club in protest over the Glazer regime, do you consider these time-served reds to be less than real fans?

3. Have you personally met with any of the dissenters to determine how deep their commitment and affection for United may be?

4. What are your thoughts on an atmosphere which gets markedly worse each season as more and more local, traditional fans are marginalised and alienated from the club?

5. You are also quoted in the interview as claiming ‘I’m absolutely comfortable with the Glazers situation. They’ve been great’. You are clearly aware of the opposition from the United fan base - does that not make you uncomfortable in any way?

6. What, in your view, would constitute poor owners?

7. You have repeatedly claimed to have been backed financially whenever you have requested transfer funds. Is this your only consideration when determining what represents great ownership?

8. You continued the interview by saying that, ‘the salaries, agent fees – is just getting ridiculous now’. Whilst we agree in tone, it does represent a sea change in attitude from pre Glazer transfers. Agent fees in both the Ferdinand and Rooney transfers were criticised at the time for being excessive, so why does the club now refuse to meet market conditions for the top players?

9. Do you believe Jorge Mendes’s £2.6m cut of the Bébé transfer, a full 35% of the total fee paid, represented good value?

10. With more than £250k leaving the club each day to service the Glazer debt, totalling over £500m since the takeover, is it so reprehensible for us to question your constant references to ‘value’?

Given your personal background and previous support for fan involvement we hope you take the trouble to respond to our deep concerns about both the club’s situation and the wording of the interview quoted.

Signed
Concerned Manchester United Fans

Comments:

tl;dr

Your's faithfully, Sir Alex.

LOL

 

[Eags]

Looks to me like PB/Andersred were right...

The Glazers are sucking the dough out to pay off the PIK2 debt that they took on personally.

The market volatility excuse/delay was so that they could get the Chevvy deal done which gives them positive media.

GM sack the guy who agreed it on Sunday fearing a backlash from US citizens who had to bail them out and still own 26% of the company, the Glazers announce it today, which ironically is the day that they launch the IPO, put a value on what they think its worth and reveal their actual plans, which surprise surprise involves them keeping the money for themselves....they've got some neck them Glazers, they just don't give a F*~k, keep up the good work Uncle Malc.

Oh and they rope in Gill and Fergie on the steal, the rags wont like such blatant profiteering by Comical Alex.

Just gotta hope that there's uproar in the US of A about the Chevvy deal and it gets sensationally pulled.

 

[sniff]

Well if this works out to plan, after all the pesudo finance on here predicting doom... they may well just have pulled themselves into profit soon enough...

A new negotiation with nike should net them at least the £25m they already get..

They are in profit now and they haven't sold the shares yet.

well, no. thats not what i said, is it.

I said if it all run's to plan they will be a lot better off. Since then it seem's the GM deal has been revised down.