United thread 2012/13 (inc merged IPO thread)

[waspish]

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.

Better off as in paying 75m of the loan back saving 4.2m a year on interest payments! It cost em over 12m to set this all up....

A drop in the ocean if you ask me..

 

[sniff]

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.

Better off as in paying 75m of the loan back saving 4.2m a year on interest payments! It cost em over 12m to set this all up....

A drop in the ocean if you ask me..

Yeah, but like i said the goal posts have moved since then. When i made that post the original GM deal was being touted and the IPO had not released the revised details.

As it stood this morning, they had a £150m ipo clearing the debt, a reported £50 million shirt deal, plus the new kit deal negotiation to come. Those where great numbers...

 

[1.618034]

Press release from MUST...


They're not happy!

http://action.joinmust.org/index.php/blog/entry/glazers-massive-u-turn-on-mufc-ipo-as-they-claw-off-more-than-half-of-proce/



Glazers’ massive u-turn on MUFC IPO as they claw off more than half of proceeds for themselves
The Glazers have tonight revealed a massive u-turn in their IPO proposals. In the original filing it was made absolutely clear that ALL of the proceeds of the IPO would go to paying down debt the Glazers have loaded onto Manchester United.

A revised filing tonight http://1.usa.gov/NExsII reveals they now plan to take HALF OF THE IPO PROCEEDS FOR THEMSELVES.

Furthermore the amount raised to pay down debt will be relatively insignificant (£75m) leaving £350m of their debt still on our club.

A spokesman for the Manchester United Supporters Trust said "Supporters are going to be very angry about this. The Glazers have already cost United more than £550m in debt related fees and now another slap in the face as they help themselves to half of the proposed IPO proceeds. Each of the 6 lineal descendants of Malcolm Glazer will claw out $25 million for themselves."

"Clearly this has nothing to do with benefits for Manchester United and is all about giving the Glazers quick access to desperately needed cash at the expense of our football club. What is the sudden reason for this desperation for cash now?"

"There is now no doubt that this IPO is bad for Manchester United supporters, Manchester United Football Club and any investors gullible enough to pay the inflated price they've attached to inferior shares which have just 1/10 of the voting rights of the Glazers shares and no dividends. Their bare faced cheek is almost unbelievable."

"We call on all the real fans of Manchester United around the world to join MUST in opposition to this IPO and we're asking supporters to register through our website here  http://bit.ly/NEyAMw  if they wish to take action."


We will follow up with further comments and analysis tomorrow.

-)

 

[JM Mcr]

I know what you mean - it's clear that plenty of United fans do know their own history and it's annoying to see blues tar every red with the same brush and vice versa of course. I'll be the first to admit that I do go off on one when I see idiotic comments from reds but I've no problem with those that know their stuff and as such I find it pretty much impossible to disagree with anything you say on here lol.

Just to clarify my earlier point - while I did say that United have had huge swathes of their history that were average, below average, or piss poor, I do recognise that your trophy haul as a whole pre-Ferguson was way above average when compared to most other English clubs of course. Having said that, and I'm being a little pedantic myself as well here, weren't you 3rd in the all-time list behind Villa before you won the PL in 1993? I think Villa had 19 trophies at that point to your 17 although on the flip side many of Villa's trophies were won at the back end of the 19th century and the early part of the 20th century and effectively had a 9-0 head start on you before you won your first trophy.

Oops, I hold my hands up - totally overlooked Villa's trophy haul when writing my earlier comment. In the battle of the pendants tho I make it Villa had 18 major honours to Utd and Arsebal's 17 prior to the 92/93 premier league season - I'm not including the English baseball championship they won lol

 

[1.618034]

Meanwhile a bit more on the GM deal and the guy who's been sacked...

<a class="postlink" href="http://www.firstpost.com/business/gm-sacks-global-marketing-chief-over-man-united-deal-396474.html" onclick="window.open(this.href);return false;">http://www.firstpost.com/business/gm-sa ... 96474.html</a>

GM sacks global marketing chief over Man United deal
Jul 30, 2012



General Motors ousted its global marketing chief Joel Ewanick a little more than two years after he joined the company to lead an overhaul of its marketing strategy.

A source with knowledge of the matter said Ewanick failed to properly report financial details about a recent sponsorship deal between GM’s mass-market Chevrolet brand and the world’s most popular soccer club, Manchester United.

When asked about the source’s observations on the sponsorship deal, Ewanick, 52, said in an email that he could not comment. GM signed on as the soccer club’s automotive sponsor in a five-year deal announced in May.

Reuters
The largest US automaker said on Sunday that Ewanick’s departure was effective immediately. He will be replaced on an interim basis by Alan Batey, the head of US sales and service.

“He failed to meet the expectations that the company has for its employees,” GM spokesman Greg Martin said. He declined to elaborate....

Also check out google images for Joel Ewanick...

Is it just me or does he bear a striking resemblance to a certain American family...? Coincidence?

 

[ChicagoBlue]

CNBC in the USA is reporting the Man United - Chevy deal to be worth $600M, which is £381.7M at today's exchange rate.

 

[1.618034]

And just a bit more before I turn in...

THE JOEL EWANICK DISASTER TIMELINE: How GM's Top Marketer Was Ousted

Read more: <a class="postlink" href="http://www.businessinsider.com/the-joel-ewanick-disaster-timeline-2012-7?op=1#ixzz229xdpevO" onclick="window.open(this.href);return false;">http://www.businessinsider.com/the-joel ... z229xdpevO</a>


He then decided a sponsorship with Man U was a good idea.


A day after Ewanick was ousted, his successor announced a new shirtfront sponsorship deal with Manchester United. Such deals are among the most expensive in all of sports; Man U's shirt last went for £20 million a year.
The Wall Street Journal reported a soccer deal was the trigger for Ewanick's exit:
GM told Mr. Ewanick that he was being removed for failing to properly vet the financial details of a European soccer-sponsorship deal that he struck recently, according to people familiar with the matter.

Oh dear.

 

[JM Mcr]

Strange then that the stats they submitted to Sky Sports 2011-12 Yearbook state that their club record attendance is 76,098 v Blackburn in 2007. As for getting bigger crowds than City at Maine Road perhaps that was something to do with City fans going to watch United games at 'their' ground at a time when attendances boomed after the war. My dad and many of his contemporaries used to go to watch United at Maine Road most games at a time when away travel was much more difficultthan nowadays. Shame United don't hold the attendance record at their own ground. That honour goes to Grimsby (and Wolves) ;)

Ive never read the Skysports yearbook so didn't know that Utd had omitted that information - sorry - though, to be fair, in my comment I referred to Utd fans acknowledging the fact.

As for your point about Utd's Maine Road gates being boosted by City fans attending their games at Maine Road, it's a valid one but cuts both ways. My mates Dad, and his cronies, used to watch City home games, as well as Utd's, in the post war years. Not sure how much each clubs crowds were boosted by this phenomenon but it is a fact that Utd continued to enjoy higher attendances than City upon their return to Old Trafford.

And yeah, the record attendance at Old Trafford wasn't for a Utd game, it was an FA cup semi final. I haven't really given it much thought tbh but guess it's only as much of a shame as the highest league attendance at City's ground not featuring City. It may even be cancelled out somewhat by the fact that the highest league gates at both United's and City's grounds were for Utd home games ;-)

 

[JM Mcr]

And just a bit more before I turn in...

THE JOEL EWANICK DISASTER TIMELINE: How GM's Top Marketer Was Ousted
Read more: <a class="postlink" href="http://www.businessinsider.com/the-joel-ewanick-disaster-timeline-2012-7?op=1#ixzz229xdpevO" onclick="window.open(this.href);return false;">http://www.businessinsider.com/the-joel ... z229xdpevO</a>

He then decided a sponsorship with Man U was a good idea.

A day after Ewanick was ousted, his successor announced a new shirtfront sponsorship deal with Manchester United. Such deals are among the most expensive in all of sports; Man U's shirt last went for £20 million a year.

The Wall Street Journal reported a soccer deal was the trigger for Ewanick's exit:
GM told Mr. Ewanick that he was being removed for failing to properly vet the financial details of a European soccer-sponsorship deal that he struck recently, according to people familiar with the matter.

Oh dear.

To be fair, it doesn't necessarily mean it's the Utd shirt sponsorship. Remember they also recently signed an agreement with Liverpool.

 

[Blootoof]

Have united dieded yet?