GDeep™
League is very weak
I don’t ever remember having any serious football related dialogue with you.
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Let's all laugh at Man Utd: Istanbald
- Thread starter Hunta
- Start date
- Replies 27,224
- Views 2,428,642
Country: England
Coward.
Riou
In The Winchester, Waiting For This To Blow Over
Country: Northern Ireland
Player:Gabriel
Imagine 'Arry thinking he has been good enough for United to request what his own partner is like, he's been just as bad for them as any of their other defenders 
Country: England
What a f*cking bellend (if this is true).
Country: England
Avram Glazer cashing in shares exposes truth: It's personal profit before titles
The caricature image of Manchester United as the world’s biggest cash machine is tough to shake after Avram Glazer's latest share sale
theathletic.co.uk
Avram Glazer cashing in shares exposes truth: It’s personal profit before titles
By Laurie Whitwell
Whenever scrutiny is applied to the Glazer family’s motivations for owning Manchester United, the response from within the club centres on their ambition to win trophies; to bask in the reflected glory of a team lifting silverware.
Avram Glazer’s decision to cash in on $100 million worth of shares rather exposes the naked truth. Personal profit underpins the entire strategy. Can we stop pretending otherwise?
None of the proceeds from Avram’s proposition to the stock market will be reinvested back into United. He is offering five million shares, which at today’s price of $20.13 per share would translate to £72.5 million.
The money is earmarked for “estate planning”, which rather gives the impression a certain Palm Beach mansion is set for a particularly glossy lick of paint.
It is standard practice in the business world for shareholders to boost private bank balances by selling stock. But when the company involved is a football club in need of regeneration it is all too easy to conceive how those many zeros could be alternatively funnelled.
United are making consistent noises that tight accounts caused by COVID-19 will mean one marquee signing this summer, with further incomings dependent on transfers out.
But supporters do not need the most creative imaginations to envision what £72.5 million would do for that equation. Wired to Borussia Dortmund, it may secure Erling Haaland, albeit not quite Jadon Sancho.
Success does not come cheap if the objective really is to catch and overtake Manchester City.
Last summer’s business looks underwhelming on reflection, the £40 million paid for Donny van de Beek standing as the only significant outlay despite qualification for the Champions League meaning massively increased broadcast revenues. Another window of similar recruitment, as is being predicted, would do little to support claims from club executives that the Glazers’ primary impulse is a pursuit of titles.
For instance, how could it be possible to square the prospect of United refusing to meet a player’s asking price by £10 million — as has happened in the past — with the sight of Avram Glazer welcoming seven times that amount into his wallet?
United’s recent quarterly results revealed the club drew down £60 million in credit from Bank of America, so diminished had cash reserves become. Football club owners have many times stepped in to provide the same kind of impetus. The Glazers, however, do not think that way.
Some observers have argued that stakeholders in Disney would not be expected to reinvest cash from share sales into the company. Setting aside the fact football is inherently different, if Disney’s programming was failing to win awards you can be sure pressure to raise the quality of shows through finance would follow.
The crucial point here is that by the time Avram’s shares are sold — the deadline is March 16 — the personal deposits from United by the family will be close to £300 million, for the first time putting them into profit on the £270 million they themselves paid to buy the club in 2005. The rest of the £790 million takeover was provided by banks, with the debt then loaded onto United.
The Glazer investment, forced home with such a fight 16 years ago, would be collectively in the black and from there the line on their spreadsheet could plot steadily upwards.
Dividends to the tune of £23 million annually will keep being paid. Even the effects of the pandemic did not halt that conveyor belt. The latest tranche went out in January.
Cumulatively, United have paid £112 million in dividends across the last five years, according to calculations by Swiss Ramble. The only other Premier League club to have awarded any at all was Norwich City, with a grand total of £300,000.
Though the family’s percentage ownership will drop from 78 per cent to 74.9 per cent, this still translates as £8.25 million to the Glazers every six months. It leaves them with an asset worth £2.36 billion on paper by today’s share price, let alone what anybody might be willing to actually pay for the club.
Advocates argue the Glazers have increased commercial revenue by 500 per cent, enabling £1 billion of squad replenishment since 2013. Other industry experts counter that United, already established as a media behemoth, would have grown sponsorship value to a similar degree without the intervention of the family from Florida.
The Glazers also gave United the gift of massive financial burden. At the latest count, net debt stands at £455.5 million, an increase of £64.2 million from the same period last year, and such obligation with lenders is cited as a reason for caution in the transfer market.
Yet at the same time Avram Glazer, who has not stepped foot inside Old Trafford for years, is making £72.5 million? The caricature image of United as the world’s biggest ATM is tough to shake.
Avram is not greatly divesting his control, either. He is selling all 707,613 of Class A shares and 4,292,387 Class B shares. The Class As have one-tenth of the voting rights of the Class Bs. But, importantly, he has put a mechanism in place so that the Class B shares will be “converted” into Class A shares once sold. Even when selling stock, the Glazers do not want to cede power. Personally, he will still retain 16,606,979 Class B shares and 13.39 per cent overall voting rights at United.
The five other Glazer siblings have similar power, so there is little sign that this latest development begins a significant shift in the boardroom. Indeed, sources say the family remain committed, long-term, engaged owners.
For many fans, that is not quite the positive note intended.
Riou
In The Winchester, Waiting For This To Blow Over
Country: Northern Ireland
Player:Gabriel
Imagine Rio going to Fergie in 2006, asking him to sign Anton over Vidic as he "knows the league" ffs
GDeep™
League is very weak
Country: England
I'm going to throw up.
Country: England
At least now we know Maguire voted for Brexit.
Country: England
@Beksl Any news about United signing a Greek CB?
GDeep™
League is very weak
9M a year they are speculating for Ole.
Wenger was abused and humiliated by his own fans base for earning less than that after 20 years at his club.
Wenger was abused and humiliated by his own fans base for earning less than that after 20 years at his club.
<<reed>>
Lidl Tir Na Nog
Oleh done, Haaland next.
Blimey.
Blimey.
Country: England
It's pronounced 'aaland, actually.
- Thread starter
- #13,137
Country: England
Ole will keep the job as long as he gets top four. Whatever people say about him and I agree he’ll never win a title there, he’s good at getting CL football whilst turning over the squad.
Greenwood/James
Martial
Rashford/Diallo
Add a 30 goal a season striker to that and it’s brilliant.
Greenwood/James
Martial
Rashford/Diallo
Add a 30 goal a season striker to that and it’s brilliant.
Non-Arsenal Transfers Thread: Summer 2019
Seriously don't understand why Zidane don't like Bale he was very important when Zidane was Real Madrid manager. Zidane hates Brits. Jealous of the fame Beckham got despite being a lesser player.
arsenal-mania.com
Non-Arsenal Transfers Thread: Summer 2019
Seriously don't understand why Zidane don't like Bale he was very important when Zidane was Real Madrid manager. Zidane hates Brits. Jealous of the fame Beckham got despite being a lesser player.
arsenal-mania.com
Premier League 19/20: Matchday 23
Yeah you could be right, but then she could also be into that nasty sh*t. Wish I could ask her.
arsenal-mania.com
Look at who you were arguing with in the first two
Country: Norway
Surely they should sign a Greek central defender?
GDeep™
League is very weak
Just want to add, from here on I will not be accepting any “receipts” from @American_Gooner as he is bum squad affiliated and has a clear agenda, always seems to find posts to make me look questionable, some posts that I would never even dream of posting.
