carlos92 said:This is probably pure guess work but I am keeping an eye on Fletcher making a dramatic come back at the rags. He is currently training with the Scotland national side. Sorry if this has been covered.
jrb said:In a nutshell.
Manchester United have told potential investors they believe new financial fair play rules will play into their hands.
In a 36-minute video aimed at attracting new shareholders, club bosses also revealed they were expecting to spend £40m on players this summer.
The Reds’ owners are looking to raising £190m by selling off around 10 per cent of United.
Fans – who believed the cash would go to wiping out some of the club’s £423m debt – reacted furiously when it emerged the Glazer family themselves would pocket around half.
The share flotation, on the New York Stock Exchange, is expected this week. The video has been put together to attract investors.
The club’s executive vice chairman, Edward Woodward, kicks off the film by saying the Reds ‘create compelling content’. He claims one in 10 of the world’s population are fans.
Michael Bolingbroke, United’s chief operating officer, then takes over and states that Uefa’s Financial Fair Play rules, which are aimed at ensuring football clubs break even by 2017, ‘will very effectively play to our strengths’.
Rivals Manchester City, who were propelled to Premier League glory with huge investment from their billionaire Arab owners, are not mentioned.
But Mr Bolingbroke says the regulations ‘will act as a deterrent to new wealthy owners acquiring clubs’. Potential investors are also told to expect annual net spends on the transfer market of £20m-£25m.
However, Mr Bolingbroke says spending this summer could be £40m.
Mr Bollingbroke confirms that about £78m of funds raised will go towards the debt. He adds that the club has every indication it will be able to meet its interest payments without dipping into a £75m credit facility.
Duncan Drasdo, chief executive of anti-Glazer fans group the Manchester United Supporters Trust, has organised a campaign aimed at convincing the banks underwriting the proposal to withdraw their support. He described some of the claims in the video as ‘fantasy’.
Mr Drasdo said: “They are claiming that an independent survey found they had 659 million followers across the world. It wasn’t independent, they paid for it. The figures need challenging – they are fantasy.”
Mr Drasdo has called on fans to boycott products made by United sponsors. He said more than 460,000 emails have been sent to the banks involved asking them to pull out.
Last week, in a strongly-worded statement that first appeared on the M.E.N. website, Sir Alex Ferguson denied he stood to profit from the proposed flotation.
Mr Drasdo said: “They are claiming that an independent survey found they had 659 million followers across the world. It wasn’t independent, they paid for it. The figures need challenging – they are fantasy.”
laserblue said:Mr Drasdo said: “They are claiming that an independent survey found they had 659 million followers across the world. It wasn’t independent, they paid for it. The figures need challenging – they are fantasy.”
It seems even the rags themselves aren't stupid enough to swallow this shit.
Manchester United Ltd., the English soccer team with a record 19 national championships, received enough orders for all shares being sold in its U.S. initial public offering, said two people with knowledge of the matter.
The company and its owner, the Glazer family, are seeking to raise as much as $333 million by selling 16.7 million shares at $16 to $20 each, according to a regulatory filing last month. Banks managing the IPO are scheduled to stop taking orders for the shares at noon in New York on Aug. 9, according to one of the people, who declined to be identified because the talks are private.
United, whose players include England’s striker Wayne Rooney and Welshman Ryan Giggs, picked the U.S. as its listing venue after ditching plans for a share sale of as much as $1 billion in Singapore. The Glazer family acquired United for 790 million pounds ($980 million) in 2005, and also own the National Football League’s Tampa Bay Buccaneers.
Manchester United spokesman Philip Townsend declined to comment.
Prestwich_Blue said:From Bloomberg in the last hour:
Manchester United Ltd., the English soccer team with a record 19 national championships, received enough orders for all shares being sold in its U.S. initial public offering, said two people with knowledge of the matter.
The company and its owner, the Glazer family, are seeking to raise as much as $333 million by selling 16.7 million shares at $16 to $20 each, according to a regulatory filing last month. Banks managing the IPO are scheduled to stop taking orders for the shares at noon in New York on Aug. 9, according to one of the people, who declined to be identified because the talks are private.
United, whose players include England’s striker Wayne Rooney and Welshman Ryan Giggs, picked the U.S. as its listing venue after ditching plans for a share sale of as much as $1 billion in Singapore. The Glazer family acquired United for 790 million pounds ($980 million) in 2005, and also own the National Football League’s Tampa Bay Buccaneers.
Manchester United spokesman Philip Townsend declined to comment.
Amazing if true.
Looks like there are a lot of stupid, rich Yanks.waspish said:Prestwich_Blue said:From Bloomberg in the last hour:
Manchester United Ltd., the English soccer team with a record 19 national championships, received enough orders for all shares being sold in its U.S. initial public offering, said two people with knowledge of the matter.
The company and its owner, the Glazer family, are seeking to raise as much as $333 million by selling 16.7 million shares at $16 to $20 each, according to a regulatory filing last month. Banks managing the IPO are scheduled to stop taking orders for the shares at noon in New York on Aug. 9, according to one of the people, who declined to be identified because the talks are private.
United, whose players include England’s striker Wayne Rooney and Welshman Ryan Giggs, picked the U.S. as its listing venue after ditching plans for a share sale of as much as $1 billion in Singapore. The Glazer family acquired United for 790 million pounds ($980 million) in 2005, and also own the National Football League’s Tampa Bay Buccaneers.
Manchester United spokesman Philip Townsend declined to comment.
Amazing if true.
Looks like the road show worked
Prestwich_Blue said:Looks like there are a lot of stupid, rich Yanks.waspish said:Prestwich_Blue said:From Bloomberg in the last hour:
Amazing if true.
Looks like the road show worked
Prestwich_Blue said:Looks like there are a lot of stupid, rich Yanks.waspish said:Prestwich_Blue said:From Bloomberg in the last hour:
Amazing if true.
Looks like the road show worked