http://www.espn.co.uk/football/sport/story/164997.html You could end up much worse off than you are now.I wonder if fergie hadn't publically backed the Glazers whether it would've all come to a head by now as I suspect many would never go against his judgement?
You do understand they have already made the money dont you? And you are aware that if they wanted they could buy them back at bthe lower price and retain full ownership. A practice used all over the world?
nope say they drop to $5 and the glazers buy them up and then own the club 100% again. They set the value and sell at £2billion. All thats changed is they have made 75million and spent only a part of it to buy the shares back.
Not at all. tHe value of these shares doesn't represent the actual value of the club. These shares come with no real voting rights and no rights to dividends - both of which are rights the future potential buyer will have. When they come to sell the club whether I like it or not the Glazers will make a massive profit.
This. The actual sale of Utd, with control rights, will be worth way more than 10% of the club with no control rights will be. In general, Utd is a bad investment, as is any club, as you could never expect to get your money back from dividends from a football club. Most of the people buying it now will be anticipating making a profit in the future when the whole club is sold. Which implies the market expects the whole club to be sold for more than it currently trades. Also, anyone wanting to invest in a club would look at the £700-800 million Roman and Mansour have spent getting Chelsea and City up close to the same level as Utd, and the extra few hundred million that will also be needed whilst they try to make the clubs self sustainable. That fact alone would pretty much guarantee that a buyer looking to own the club as a trophy / publicity vehicle would pay a minimum of £1 billion for a ready made article which can fund its own investments.
P.S. Also worth noting that the company making these claims is the one who claimed Facebook was a great investment and there was 'nothing dodgy in its financials'. Whoops. Covering their ass maybe by hoping another high profile company will go the same way?
Lot of people got ripped off and lost millions on FB shares. Wasnt there also an evaluation of united at 3.something billion, my jaesus, you just cant trust that crap
Nah, that wouldn't have flown. Back then the PIKs were still in place and the club had bank debt secured on all the assets. The market wouldn't have touched us in that state. Having a bond issue in place is much better for the club, as we control the bonds not the banks, and can pay the bonds off using the IPO proceeds whenever we want.
"New York outfit PrivCo says the stock is worth no more than $5 a share. That compares with a float price of $14 that only stayed at that level on the first day of trading thanks to emergency support from the brokers behind the deal." Independent today. You were saying, UIR, ?
Yes football clubs in general need massive investments and any one (i.e billionaires like RA and the City Sheik) buying a top club wanting reflected glory should expect to lose money. However, United was at the top of the tree and was making money when the Glazers took it over. It was bought on borrowed money. I remember the price offered by the Glazers was well over the prevailing market price and the big shareholders (some were companies and pension funds as well as private investors) at the time could simply not turn down the offer. For the glazers it was a no brainer as they were buying with a loan which was to be repaid by the club itself. This should never have been allowed. The club is being bled dry by these ******* yanks. 100% United 100% Glazer Out
Edwards knew when your club was floated (and he made £60m-odd on it) this could be the eventual outcome, just as Moores sold out to H&G at the last moment just to make an extra £5m on what DIC were offering. The only long-term answer is fan buyouts on the Barcelona model. Wait and see.
PrivCo are the blokes who valued Facebook at $40 per share right before it floated and dropped like a stone to around $20. Says it all about their predictive powers and ability to value stuff....
I take it you do value United at $2.8bn then? This is the same logic that had that pr!ck Hicks valuing Liverpool at $1bn dollars.
United could get that figure though, Liverpool couldnt. Theres already been rumours in the past ( I say rumours as the glazers give nothing away ) that they have turned down £1.5billion and an early £1billion offer.
Almost a week after floatation and the shares are trading at $14.20 a pop, so the market values the club at $2.3 billion. Ultimately that's what matters more than any of the BS the 'analysts' talk, mostly when trying to popularise themselves or distract attention from their previous mistakes...
