No!!!!!!!!!!! Major Bad News!!! (2 Viewers)

[Lampard #8]

He obviously has something up his sleeve.

I bet you it has to do with PayTV, if he can break the collective TV rights agreement that binds the EPL clubs together, and then get individual TV rights, then that is where Manchester United will make its money, but the FA will fight if tooth and nail.

Imagine an audience in Asia alone playing 5bucks to see a Manchester United game on TV? Imagine the revenue to Manchester United.

Seriously though, I love the fact you are all Manchester United fans are upset because it is funny for a rival fan after the ******** many fans have given to others, but take a look at the facts for a moment.

Glazer isn't an idiot an obviously knows what he is doing, and these kind of business acquisitions happen in big business all the time. His business plan for Manchester United obviously must be impressive because if it weren’t the banks, companies and individuals wouldn't lend the money.

I seriously doubt he is going to run Manchester United into the ground. One thing I love though is that you all keep telling us that doom and gloom is forecasted on Chelsea because Abramovich owns the club, but I bet you would all switch with us if you could.

The fact is in his best interests to keep the club from bankruptcy, however to that and keep the share price high he is going to have to pay a lot of dividends to other share holders and to that will have to borrow to inject further capital.

However the bad thing is that, Malcolm Glazer is buying United and leveraging it with debt at a time when on both sides of the Atlantic and in most of the industrialised world, consumer debt is at record levels and the housing bubble is about to be burst, or has. The worst thing however is the massive recession that many are forecasting for the industrialised world.

Best of luck, but I think you are all over reacting but It is fun to watch some of your reactions.

But that is the risk you run becoming a PLC in the nineties meant great things for your club and created a lot of cash, however this is the downside to it if you don't want someone taking over the club.

 

Buy on AliExpress.com

[madlawyer1]

Glazer would however need 2/3 of the clubs in the EPL to agree before he can break out of the collective TV rights deal. I really dont see that happening. Smaller clubs depend on the revenue they get from mixing up with the big boys, and this comes out of the collective TV money. They would never agree for one of the biggest draws to starve them out.

 

[Slagathor]

 

[peckface]

HOWARD STAYS!

 

[madlawyer1]

 

[*aca*]

Apparently, he is interested in ManU because it gives him a footing in European football. he wants to create an European Super League made of 20 teams, bypassing Uefa completly.

Something like football version of Formula 1, where he would be in charge.

That would mean death to CL and so on....and millions in TV rights, advertising, merchendising & so on....

 

[Slagathor]

Who does this yankee think he is anyway? European national culture and heritage as well as tradition should just be completely ignored for one rich man's dream?

Someone give George W Bush a call and warn him: if his fellow countrymen keep going around the world acting like this, I don't think they should rebuild the twin towers just yet...

 

[madlawyer1]

++ [ originally posted by Erik ] ++
Who does this yankee think he is anyway? European national culture and heritage as well as tradition should just be completely ignored for one rich man's dream?

Someone give George W Bush a call and warn him: if his fellow countrymen keep going around the world acting like this, I don't think they should rebuild the twin towers just yet...

 

[peckface]

++ [ originally posted by *aca* ] ++
Apparently, he is interested in ManU because it gives him a footing in European football. he wants to create an European Super League made of 20 teams, bypassing Uefa completly.

Something like football version of Formula 1, where he would be in charge.

That would mean death to CL and so on....and millions in TV rights, advertising, merchendising & so on....

Holy shit! I never thought it was something like that. What a total disregard to our culture.

 

[Zambrotta]

++ [ originally posted by Erik ] ++
Who does this yankee think he is anyway? European national culture and heritage as well as tradition should just be completely ignored for one rich man's dream?

Someone give George W Bush a call and warn him: if his fellow countrymen keep going around the world acting like this, I don't think they should rebuild the twin towers just yet...

 

[Zambrotta]

++ [ originally posted by Lampard #8 ] ++


I seriously doubt he is going to run Manchester United into the ground. One thing I love though is that you all keep telling us that doom and gloom is forecasted on Chelsea because Abramovich owns the club, but I bet you would all switch with us if you could.

There's a huge difference between them. Abramovich is not doing this to make money, it's more like he's doing it to lose money. He does also have an interest in the actual play. Glazer on the other hand is only in it for commercial reasons.

 

[Lampard #8]

I am well aware of that difference.

However if Glazers plan wasnt impressive I doubt the banks and other instutions would of gave him the money to borrow in the first place.

Now I quite Family Guy "Now we play the waiting game"

 

[Zambrotta]

++ [ originally posted by Lampard #8 ] ++
I am well aware of that difference.

However if Glazers plan wasnt impressive I doubt the banks and other instutions would of gave him the money to borrow in the first place.

Now I quite Family Guy "Now we play the waiting game"

Of course his financial plan is good. That is exactly where the problem is. He will rise the ticketprizes and try to make as much money as possible from this club. A development that in the end will destroy football.

 

[JCK]

I don't know why The Doors come to mind

 

[Chxta]

Glazer's scheisse is bad. I am so fucking unhappy about the whole thing.

 

[Chxta]

Tampa Bay Buccaneers owner Malcolm Glazer is fractions of a percentage point short of taking complete control of Manchester United.

Glazer's company, Red Football, said its stake in the world's richest soccer team increased to 74.81 percent by the close of trading Friday in London. Glazer needs 75 percent for complete control.

The company also told the London Stock Exchange it would borrow $490 million to fund the $1.47 billion takeover. Remaining shareholders were expected to receive Glazer's formal buyout offer by mail next week. Glazer is offering $5.55 a share.

Glazer's son, Joel, said in a statement the family was "delighted to make this offer to acquire one of the pre-eminent football clubs in the world."

"We are long-term sports investors and avid Manchester United fans," said Joel Glazer, who is expected to run the team with his brothers Edward and Bryan. "Our intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success."

The Glazer family said it would provide $503 million of its own money for the takeover. Another $509 million will be generated by issuing preferred securities to large investors and friends of Glazer.

The rest is debt, secured by the club's assets.

Glazer's ownership reached 56.9 percent on Thursday after he bought out joint majority shareholders J.P. McManus and John Magnier, Irish racehorse owners. He previously owned 28.1 percent of the club.

The Manchester United board, which two weeks ago said it wouldn't recommend Glazer's "aggressive" takeover to investors, said Friday it would study the latest bid before taking any position.

"During the recent discussions with Red, the board sought a range of protections for the football club, its fans and any minority shareholders who wish to remain invested in Manchester United," the board said in a statement.

"The board will review Red's position in respect of these issues when the full facts are available and will advise shareholders accordingly."

The takeover brings another foreigner into English soccer.

Russian billionaire Roman Abramovich owns league champion Chelsea, England's national team is coached by Swede Sven-Goran Eriksson, and league runner-up Arsenal is run by Frenchman Arsene Wenger.

On Thursday, thousands of Manchester United fans protested outside Old Trafford. On Friday, few seemed convinced that the Glazers are fans of the team.

"That statement is an insult to human intelligence," said Mark Longden, spokesman for the Independent Manchester United Supporters' Association. "Does this guy really think anyone will actually believe him?"

Some fan groups also have suggested the possibility of forming a breakaway club.

"Glazer is viewed as a parasite by fans, and you have to get rid of parasites," said Sean Bones, vice chairman of Shareholders United, which represents small investors.

"What we have to do is affect revenue streams. We need to stop people buying merchandise or anything related to the sponsorship of the club."

Manchester United has won eight of 13 Premier League titles since the league began in 1992, but only once in the last four seasons.

With a game left, United is in third place -- 20 points behind Chelsea and nine Arsenal. The club's only chance for a trophy is the May 21 FA Cup final, where Arsenal is the favorite.

 

[madlawyer1]

"Fergie's possible departure is not all United fans have to worry about. With egg-headed bean-counters shouting: "Massive Manchester United debts ahoy!", it has emerged that Glazer's takeover could affect the club's future participation in Big Cup and Euro Vase - United may not get a licence to play on the continent if it owes the moneylenders big vig. "If one club was permanently in debt and the debt showed no sign of clearing, then the licence of that club would have to be reviewed," confirmed a Uefa suit in Zurich."

culled from The Guardian Unlimited.

 

[madlawyer1]

Glazer's takeover is expected to saddle Man Utd with debts of over 300 million pounds, as opposed to their rather healthy financial situation not so long ago.

 

[madlawyer1]

Glazer's debt to be secured against stadium

Nils Pratley
Saturday May 14, 2005
The Guardian

Malcolm Glazer yesterday reached 74.8% ownership of Manchester United as he launched his formal bid with a pledge to support the manager Sir Alex Ferguson and chief executive David Gill.

The American's statement also revealed that the direct debt in his bidding vehicle, called Red Football, will be £265m. That sum will be secured against the club's assets, notably the Old Trafford stadium.

Joel Glazer, the son who will be closely involved at United, also made an attempt to pacify angry fans. He said in the statement: "We are delighted to make this offer to acquire one of the pre-eminent football clubs in the world. We are long-term sports investors and avid Manchester United fans.

Article continues
"Our intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success." Advisers made clear the phrase "current management" referred to both Ferguson and Gill.

However, a full campaign by Joel Glazer to woo fans has been deferred until after next weekend's FA Cup final clash with Arsenal. He judged there was a risk of antagonising supporters ahead of the game.

The Glazers' funding for the £790m takeover is entirely as expected - a roughly even split between three sources. The family will provide £272m in cash and United shares they already own; £275m will be raised by issuing preference shares to City funds; and £265m will be borrowed by Red Football, mostly from the US investment bank JP Morgan.

Further share purchases yesterday took the Glazers' ownership of United to within touching distance of the 75% needed to take the club private. Dermot Desmond, the chairman of Celtic, is believed to have sold his 1.5% stake, worth just under £12m.

The 75% ownership mark will - barring a miracle - be reached early on Monday morning. A mere 527,000 shares, or £1.6m worth, is required to pass the mark. At that point, United's board is expected to concede defeat and advise shareholders there is little point in trying to resist Glazer any longer.

The danger for small investors is that they would be left as minority share holders in a Glazer company. Virtually their only legal rights would be to receive the audited accounts and attend an annual meeting.

Glazer's statement made clear dividend payments would almost certainly be scrapped - in other words, minority shareholders would be tying up capital on which they would receive no income.

Despite that threat, Shareholders United, the fans' group that led the anti-Glazer campaign, urged its 28,000 members not to sell their shares. It claimed "the fight is not yet over" and that a collective stake held by fans could still be useful.

Shares held by SU members are estimated to amount to 2%, which may be enough to prevent Glazer purchasing those shares compulsorily.

Takeover rules dictate that a bidder can only compulsorily purchase shares once he has acquired 90% of the shares he did not own on the day the offer was launched. The launch date is taken as the day on which the formal offer document is posed to shareholders - in Glazer's case, that will be early next week. If he had 75% ownership then, he would have to reach 90% of the outstanding 25% to make compulsory purchases - implying he would need 97.5% of the entire company.

With the addition of a few more shares, the SU group could resist compulsory purchase and register their anti-Glazer feelings annually at the shareholders' meeting.

Another avenue of resistance for fans is an application to the courts to stop Glazer taking the club private. Only 50 shareholders, regardless of the size of their holdings, are needed to make such an application.

There are few legal precedents for such a move and, even were a fan-led application to succeed, it would not alter Glazer's control of the club, though he might have to refinance some of his borrowings.

SU said it is considering such a legal challenge with its lawyers. "Glazer will soon realise, if he doesn't already know, that we will not be going away quietly," said the chairman Nick Towle.

 

[madlawyer1]

"Glazer's debt to be secured against stadium"


Malcolm Glazer yesterday reached 74.8% ownership of Manchester United as he launched his formal bid with a pledge to support the manager Sir Alex Ferguson and chief executive David Gill.

The American's statement also revealed that the direct debt in his bidding vehicle, called Red Football, will be £265m. That sum will be secured against the club's assets, notably the Old Trafford stadium.

Joel Glazer, the son who will be closely involved at United, also made an attempt to pacify angry fans. He said in the statement: "We are delighted to make this offer to acquire one of the pre-eminent football clubs in the world. We are long-term sports investors and avid Manchester United fans.

Article continues
"Our intention is to work with the current management, players and fans to ensure Manchester United continues to develop and achieve even greater success." Advisers made clear the phrase "current management" referred to both Ferguson and Gill.

However, a full campaign by Joel Glazer to woo fans has been deferred until after next weekend's FA Cup final clash with Arsenal. He judged there was a risk of antagonising supporters ahead of the game.

The Glazers' funding for the £790m takeover is entirely as expected - a roughly even split between three sources. The family will provide £272m in cash and United shares they already own; £275m will be raised by issuing preference shares to City funds; and £265m will be borrowed by Red Football, mostly from the US investment bank JP Morgan.

Further share purchases yesterday took the Glazers' ownership of United to within touching distance of the 75% needed to take the club private. Dermot Desmond, the chairman of Celtic, is believed to have sold his 1.5% stake, worth just under £12m.

The 75% ownership mark will - barring a miracle - be reached early on Monday morning. A mere 527,000 shares, or £1.6m worth, is required to pass the mark. At that point, United's board is expected to concede defeat and advise shareholders there is little point in trying to resist Glazer any longer.

The danger for small investors is that they would be left as minority share holders in a Glazer company. Virtually their only legal rights would be to receive the audited accounts and attend an annual meeting.

Glazer's statement made clear dividend payments would almost certainly be scrapped - in other words, minority shareholders would be tying up capital on which they would receive no income.

Despite that threat, Shareholders United, the fans' group that led the anti-Glazer campaign, urged its 28,000 members not to sell their shares. It claimed "the fight is not yet over" and that a collective stake held by fans could still be useful.

Shares held by SU members are estimated to amount to 2%, which may be enough to prevent Glazer purchasing those shares compulsorily.

Takeover rules dictate that a bidder can only compulsorily purchase shares once he has acquired 90% of the shares he did not own on the day the offer was launched. The launch date is taken as the day on which the formal offer document is posed to shareholders - in Glazer's case, that will be early next week. If he had 75% ownership then, he would have to reach 90% of the outstanding 25% to make compulsory purchases - implying he would need 97.5% of the entire company.

With the addition of a few more shares, the SU group could resist compulsory purchase and register their anti-Glazer feelings annually at the shareholders' meeting.

Another avenue of resistance for fans is an application to the courts to stop Glazer taking the club private. Only 50 shareholders, regardless of the size of their holdings, are needed to make such an application.

There are few legal precedents for such a move and, even were a fan-led application to succeed, it would not alter Glazer's control of the club, though he might have to refinance some of his borrowings.

SU said it is considering such a legal challenge with its lawyers. "Glazer will soon realise, if he doesn't already know, that we will not be going away quietly," said the chairman Nick Towle.

http://football.guardian.co.uk/News_Story/0,1563,1483759,00.html