So some Arfur Daley type says he is going to buy Man Utd and a price agreed. Arfur Daley (Glazer) then goes to a bank and borrows 100% of the asking price and gets the loan if the cash and then gives it to Man Utd. He now owns the club and hasn’t paid one Penny of his own cash. The club thrive and makes lots and lots of money and the Glazers take the money and some of that money (profit) pays the bank the anual interest on the loan. So 100% of the debt is still there. Every year for years this carries on with the Glazers taking out the huge profits and giving some of it back to the bank in interest but 100% of the original debt is still there. The club now owe just over £1bn but the Glazers are still raking in huge profits and still own the club. the greedy yanks see how much Chelsea was sold for so decide to chance their arm and put the club up for sale. The process goes on for a year and a wealthy Qatari Sheik offers twice the value of the club plus says he would pay off the £1bn debt and still the greedy yanks won’t sell. Along comes Britons wealthiest businessman who offers to buy 25% of the club for £1.3bn (£1,300,000,000). The shareholders at the club which is the Glazer family are entitled to £430m of this money and they still haven’t paid a Penny in buying the club but make huge personal wealth for investing nothing…. Laughable
Apparently Sir Jim has told the Glazers he will buy 25% of the club but he must be in control of all football and sporting activity. That would mean Sir Dave Brailsford getting a grip of them. Sir Jim already owns Nice in the French league and under the Ineos umbrella they already have world class athletes, a world tour cycling team Ineos Grenadiers (Team Sky) and run a lot of UK cycling, Formula 1 with Mercedes and loads of other sports teams
Had a little bet on Fiji. I don't like the fact that Farrell and Co have sneaked back in to the starting line up despite us looking stronger without them. Strange decision by Borthwick and if England lose then he should be sacked.
Every team is made up from Pacific islanders,in Irelands game yesterday,every try was by a NZ born player . can't blame him,everyone wants to be English,including OLOF apparently
What a terrific weekend of rugby and as my fancies of Wales, Ireland, Fiji & France were all knocked out it shows what a great World Cup it's been. Every game was too close to call and probably the best was saved until last with South Africa showing amazing skill and character to overcome the hosts.