34yearsandstillgoingstrong
Well-Known Member
- Joined
- 28 Aug 2014
- Messages
- 68
One thing for certain - never believe anything you read about ManU's finances.
The NY market was closed on Monday and then on Tuesday 7.5M A Shares were sold ( appx 13% of the tradeable shares ) knocking the trading price down by 20% to a low point of $18.50. When ManU announced the possible sale of the Company on 21/11/22 ( share price then $13 ) , over the next 3 days the share price soared to $21 and the entire holdings of tradeable shares were sold /traded. The holders of the A shares made a nice profit as a result of the announcement !.
The Glazers had previously converted 10M of their B shares to the tradeable A shares and sold them on the market at appx $15. If the Glazers value ManU PLC at $10 Billion , this indicates a share price pf $60 so I am surprised that they would be selling off shares at $15/20 when they anticipated the sale of the club which could double or treble the value of their shares.
Personally, I never believed the club would be sold , for the simple reason it was highly unlikely that there could be a potential buyer out there prepared to pay ( even ) $4 Billion for them. Why would a serious potential buyer ( Qatar / Ratcliffe ? ) be strung along for so long with the ridiculous deadlines and ever increasing reported valuation of the club.
I admit to being concerned to seeing the Glazers funding Ten Bob's spending spree in the transfer market ( surely there must be a genuine buyer of the club coming in ? ) Recent events suggest that there is no White Knight coming to their rescue. They seemed to be working on the prospect of offloading Maguire/Sancho/Bailly/McWhotsisname and the rest of the dead-wood to bring some cash in and reduce the wage bill.
It'll be interesting to see what the share price does over the next few days.
The NY market was closed on Monday and then on Tuesday 7.5M A Shares were sold ( appx 13% of the tradeable shares ) knocking the trading price down by 20% to a low point of $18.50. When ManU announced the possible sale of the Company on 21/11/22 ( share price then $13 ) , over the next 3 days the share price soared to $21 and the entire holdings of tradeable shares were sold /traded. The holders of the A shares made a nice profit as a result of the announcement !.
The Glazers had previously converted 10M of their B shares to the tradeable A shares and sold them on the market at appx $15. If the Glazers value ManU PLC at $10 Billion , this indicates a share price pf $60 so I am surprised that they would be selling off shares at $15/20 when they anticipated the sale of the club which could double or treble the value of their shares.
Personally, I never believed the club would be sold , for the simple reason it was highly unlikely that there could be a potential buyer out there prepared to pay ( even ) $4 Billion for them. Why would a serious potential buyer ( Qatar / Ratcliffe ? ) be strung along for so long with the ridiculous deadlines and ever increasing reported valuation of the club.
I admit to being concerned to seeing the Glazers funding Ten Bob's spending spree in the transfer market ( surely there must be a genuine buyer of the club coming in ? ) Recent events suggest that there is no White Knight coming to their rescue. They seemed to be working on the prospect of offloading Maguire/Sancho/Bailly/McWhotsisname and the rest of the dead-wood to bring some cash in and reduce the wage bill.
It'll be interesting to see what the share price does over the next few days.
