Glazier launches take-over bid for Man Utd

[OwlsFan]

Malcolm Glazer has launched a formal takeover bid for Manchester United
after buying the 28.7% stake of Irish racing tycoons JP McManus and John
Magnier (wonder how much did they make out of that - hope that have to pay capital gains).

Glazer has now launched an offer for the rest of the shares, valuing the club at £760million.

The purchase of the major shareholders' stake was Glazer's biggest obstacle
and with that out of the way, he is closer than ever to gaining control of
Old Trafford.

[tiktok]

I'm not giving him mine :mad:

[noby]

Roll on the cheerleaders and half-time shows. Monster trucks anyone?

[Macy]

So the tax dodging b*stards sell up. No surprise for the money grabbing tw*ts....

btw Bring on FC United in the Northern Counties....

[drinkfeckarse]

So the tax dodging b*stards sell up. No surprise for the money grabbing tw*ts....


He's obviously made them a very good offer, they're businessmen at the end of the day not loyal supporters so what did ye expect. Bad news for ye I think :p

[aberharp]

sh1t thats terrible news

[noby]

FC United


Has that club actually been formed?
Or is it a case of only if/when Glazer takes over?

[colster]

This is terrible news.

[Hibs4Ever]

Has that club actually been formed?
Or is it a case of only if/when Glazer takes over?


FC United???


I'll believe it when I see it.


Too many glory hunter supporters for that to happen

[Danny]

:) Great day for football in Manchester....
Good man Malcy...

Psycho's Blue & White Army

[holidaysong]

Has that club actually been formed?
Or is it a case of only if/when Glazer takes over?

It is for an if/when Glazer takes over worst case scenario..
He still only has 58% or something, needs 75% plus one share to take control.

[Bald Student]

FC United???


I'll believe it when I see it.


Too many glory hunter supporters for that to happen

My thoughts exactly. I'd look forward to scoffing about the standard of football the barstoolers would have to watch under that scenario. I'll ask them why they don't come down to Belfield to watch some 'real' football.

[holidaysong]

I heard Cantona and Solsjkaer would play for them for a season.

[Macy]

He's obviously made them a very good offer, they're businessmen at the end of the day not loyal supporters so what did ye expect. Bad news for ye I think :p
They might be business men, they're also tax dodgers....

[pete]

They might be business men, they're also tax dodgers....

Yup the irish state won't see a cent of their share profits & we already don't see a cent out of their stuf business profits. If that wasn't bad enough the irish state subsidises the horse racing prizes we in the irish state is probably a net contributer to theoir fortunes.

:(

[Junior]

My thoughts exactly. I'd look forward to scoffing about the standard of football the barstoolers would have to watch under that scenario. I'll ask them why they don't come down to Belfield to watch some 'real' football.

The barstoolers couldn't win then hey?

scoffed at if they stopped watching utd. scoffed at if they continued watching the poor standard stuff.

ye should just let it go lads................ :rolleyes:

[Macy]

:) Great day for football in Manchester....
Good man Malcy...

Psycho's Blue & White Army
FC United will still win a major trophy before you liars - FACT.

[REVIP]

This is depressing:

http://news.bbc.co.uk/1/hi/business/4540939.stm

Didn't realize that at 90% he can just take the shares off you for the takeover price.

[Éanna]

you live by the sword, you die by the sword. It was only a matter of time before something like this happened. I feel sorry for the true MUFC fans, but with the greedy money-grabbing nature of the premiershi*, someone was bound to look for a share of the profits.

[Macy]

You're right to a certain extent - can all be traced back to that cúnt Martin Edwards, and the timing and price of the original sale... Although there is a misconception - being a plc took money out of the club every season....

[pete]

Didn't realize that at 90% he can just take the shares off you for the takeover price.

Its the same as happened with Eircom. When 90%+ of shareholders vote for takeover then the rest have to sell their shares too.

[Superhoops]

They might be business men, they're also tax dodgers....
Tax avoidance is legal in Ireland as it is in most countries. If you or I got the chance to avoid paying tax we would do it.

They were never MU fans, they used MU as an investment opportunity and have turned a tidy profit. Good luck to them. Business is business and to the likes of McManus and Magnier, football is business. I would rather see JPM and JM make money out of MU than the likes of Rio Ferdinand who takes money under false pretences by posing as a world class player and turns in sh*te performances, yet still comes back for more.

[tetsujin1979]

According to Sky Sports, he's just bought another ton of shares and is getting closer to the 75% needed to take it off the stock exchange

[4tothefloor]

It's all doom and gloom from the United fans, but I don't really see why. Glazer is taking over Man U to make money. Fair enough, it rips the soul out of the club (not that it ever had one) and it is Glazer now who will call the shots regarding players and contracts etc. Seeing that he knows jack sh1t about 'soccer', this is fantastic news for Liverpool, Arsenal and Chelsea fans everywhere. On the other hand, the only way Man U will yield profits for Glazer is by success on the pitch. As much as Utd is a business, it's a dead donkey unless they are winning trophies, as trophies = success = more sponsership, fans and profits.

So i'd say Utd fans are blowing things out of all proportion, it might not be as bad as the doom mongers are saying. Fingers crossed though that it will be, and then some :D

BTW, which one of Magnier and McManus is a Liverpool fan? I know one of them is, They even had a horse called 'You'll Never Walk Alone'. Anyone know which one? Well whichever one it is, I'll be raising a very big glass to them tonight.....Well in boys, the Irish will be absolutely loved in Manchester now :p

[GavinZac]

i dont see why theres been such a big bloody reaction, its not like they're anything but a business anyway. selling their souls? what souls do they have to sell?

[tiktok]

i dont see why theres been such a big bloody reaction, its not like they're anything but a business anyway. selling their souls? what souls do they have to sell?

I'm not surprised so many people are delighted by the news, the line between MUFC and MUPLC is blurry to most, even some of the fans themselves. There is a soul there though, and the club means a lot to many, maybe more who can remember when we won fcuk all.

Why is Glazer bad news?

1. He can't actually afford the club. He's borrowing a huge chunk of money to finance the deal. When he achieves 75% control he can pass his debts (i.e. the bankloan he bought us with) onto the club itself. The most likely option is that he'll use Old Trafford as collateral.

2. The debt's interest is likely to be about £20m per annum. He doesn't have the money to throw into the team (i.e. he's not Abrahmovich). I wouldn't even call him a businessman, he's a speculator, a gambler. He'll service the debt and try and return a profit by cutting costs (proband raising prices on revenue streams, tickets, jerseys, TV revenues everything will have it's price jacked up.

there's more reasons but I don't have the time, maybe tomorrow..

[pineapple stu]

Saw a great cartoon in When Saturday Comes magazine there last month - two United fans walking down the road, and one says "We've got to stop United turning into a cynical, corporate, money-grabbing machine". Thought it was very apt...! ;)

[onenilgameover]

Manchester United R.I.P.......'Bah da bap ba bah I'm Lovin it'

[thecorner]

dunno should it be all doom and gloom... only time will tell....we are always on about it ourselves with cork city about backers are needed....seems to be the only way a team can compete with chelski

[GavinZac]

He doesn't have the money to throw into the team (i.e. he's not Abrahmovich). I wouldn't even call him a businessman, he's a speculator, a gambler.

a gamble is what united need imho. (not joe). they're stuck in mediocrity at the moment, with the money coming in nicely and the team floundering. the effect has been that they've lost profits (could be something to do with senor beckham too) and cant afford to keep up with the rest of the big european teams.

the old regime is taking a very sensible approach. they;ve not let fergie spent a lot, because they want to maximise profits the management way: reduce costs.

on a scale like the big 8 european clubs though, sensible approaches dont work. its grand for cork city to restrain itself from splashing out, to keep itself in existence. but for a business of the stature of united, they need glory, at all costs. without it, they'll go down in history as a poor man's liverpool: an era of dominance, followed by anonymity. its like a formula one team: the history doesnt matter. if you dont plough money into keeping up, you lose. if you lose, it starts a viscious circle.

they need someone to take risks.

im not 100% educated on glazier, but there arent very many people like abramovich. if glazier has the money to be owning sports teams, he's not going to waste it by throwing €28million at didier drogba, but he will see the need to sign the best calibre of players. liam miller, kleberson, mikael silvestre, tim howard: how likely is it that any other "big" european team would sign these players when its existing staff (eg scholes, giggs, keane) that the team is built upon have a couple of years left in them? if glazier has any business sense he'll know the one golden rule (no pun intended): you have to spend money to make money.

meanwhile, united's "hardcore support" are as much play acting as their gloryhunter companions. they have to act like they bought the first addidas newton heath jersey to attain any credability to other fans, and part of that acting is xenophobia. part of their complaints are that he is american and knows nothing about sawker. i know nothing about american football, but if i took over the business side of a once-great team (the giants perhaps?) i'd know to let someone who DOES know the game go out and buy good calibre players. and the game voer here is even more cut throat: theres no big organisation controlling every club, and fans are less likely to just turn up for a bit of entertainment.

[Rebal Boy]

I'm gutted this has happend. :mad: I'm a mad Man U fan when it comes to the Premiership. I think this man is going to ruin the club and send them into bankrupesy. I really hope it falls through, but it doesn't look like as if its going to happen.

[Superhoops]

I think this man is going to ruin the club and send them into bankrupesy.
Why would this man or indeed anyone borrow shedloads of money to buy a football club that he would then ruin and send into bankruptcy? What do you know that he, his advisors and the banks that have lent him the money don't know? :confused:

[4tothefloor]

without it, they'll go down in history as a poor man's liverpool

I like that, I like that a lot :D

Hopefully Glazer passes on the debt and then goes tits up himself. Old Trafford then sold to property developers by the banks. I would be seriously worried about his age if I were a fan - isn't he 76 or something? Very old to be taking on something of this magnitude. I know his two sons are also involved with Tampa Bay, does anyone know if they are involved in this venture? I doubt it somehow, considering the level of debt.

[Thunderblaster]

:D Hopefully, M*******er United will be a homeless, impoverished and destitute club in two years after Malcolm Glazer. Anything bad for the enemy is great for all human mankind. :D

[Closed Account 2]

Well it was always a risk once they floated on the stock market in the early 1990s. Once they issued shares, they were always risking and outcome like the current one.

[tiktok]

I know his two sons are also involved with Tampa Bay, does anyone know if they are involved in this venture? I doubt it somehow, considering the level of debt.

One of his sons will be taking an 'active' role in the club.
I'd imagine David Gill will be under pressure.

[tiktok]

if glazier has the money to be owning sports teams.....
He's already borrowed $100m just to buy the shares he had up to yesterday ffs. As I've said above, Glazer won't be putting his own money at risk, he'll be passing on debts incurred in the purchase to the club itself.


....but he will see the need to sign the best calibre of players....
That's not what he did at Tampa Bay. He did hire a very good coach, but to get the coach, he handed over first and second round draft picks to one of the Strongest teams in the NFL.


....if glazier has any business sense he'll know the one golden rule (no pun intended): you have to spend money to make money....
At Tampa, he made money by dramatically increasing ticket pricing, gettign very agressive with their merchandising streams, holding Tampa under the threat of moving the team so that the City would fork out extra cash.


part of their complaints are that he is american and knows nothing about sawker.
His lack of knowledge of the game and how it works is a valid argument.


i know nothing about american football, but if i took over the business side of a once-great team (the giants perhaps?) i'd know to let someone who DOES know the game go out and buy good calibre players.
I wish it was you buying in so Gav, because Glazer is going to let his son ruin things. His son was general manager of Tampa Bay Buccaneers, but I don't think that qualifies him to run MUFC.

[stickyjoe]

you reap what you sow....this was always likely to happen once the club became a PLC...the surprising thing is that it has taken so long to happen.

When is the SKY Contract up for renewal? That is when it is going to get interesting, as United, Arsenal etc. will now be negotiating their own TV deals, leaving the smaller clubs with a pittance. the rich will get richer and the poor get poorer.... :(

[Terry]

both of glaziers sons will be joining the board of directors. He has offered ferguson a 5 year contract and £100m spending money(for the next five years) to run the football side of things as he has admitted he "doesn't know the good player from the bad". Gill will be offered a new extended contract also, as one of the sons (don't know which one) has stated Gill to be one of the best in the business, infact none of the board of directors will be let go as Glazier rates them as the best in the business if they could control the accounts so well when the other top clubs were running up big debts.

I'm a big Man Utd supporter and I have shares in the club but I don't see any way of stopping him now. He will continue to buy shares until he gets complete control. All we can do now is hope he is not as big of a bullsh*tter as his president George W and keeps these promises....as some one said the only way for a club to turn profits is to win competitions.

[Stuttgart88]

It's all down to Liam Miller. Desmond was so ****ed off that MUFC nicked Miller that he told his mates to sell to Glazer :)

[monutdfc]

See the head of Shareholders United is ripping up his season ticket. What a protest, doing that after the last home game of the season!

[Closed Account 2]

When is the SKY Contract up for renewal? That is when it is going to get interesting, as United, Arsenal etc. will now be negotiating their own TV deals, leaving the smaller clubs with a pittance. the rich will get richer and the poor get poorer.... :(


It will be interesting alright, but im not so sure individual TV rights will happen. There are probably only 3 teams (Chelsea, Arsenal and Manchester Utd) who could command significantly more by going seperately, but will the other 17 teams let this happen ?

[hamish]

Lads, is it true the Glazer's Tampa grid iron team are doing badly? Is he losing money on them? Is he trying to recoup this by bagging Utd? Just wondering.

[tiktok]

Lads, is it true the Glazer's Tampa grid iron team are doing badly?

Yeah, though I'd imagine that they're still worth more than he paid for them

[Eire06]

Lads, is it true the Glazer's Tampa grid iron team are doing badly? Is he losing money on them? Is he trying to recoup this by bagging Utd? Just wondering.
Thats what is being reported..
He's met to be up to his eyes and debt too..
And as Paul McGrath said it last night 'He's trying to balance the books'...

It is predicted that he'll tighten Man U's purse strings even tighter matbe sell off a few players to make more money...
It could all be speculation though and jumping to conclusions!! He could do a Roman Abramovich on it!! :D And they could start another cold war!! :rolleyes:

[tiktok]

He's met to be up to his eyes and debt too..

This is the main point.
United are currently free of debt.
The way the buy out deal is structured if Glazer takes over the club will automatically have a debt of £300m.
Before he can start turning a profit (being the great business man so many on here think he nust be) he has to clear that debt while servicing the interest on it £20m p.a.

So since he's in debt and he'll put United in debt, how can that possibly be good for the club.

[anto1208]

whats the big fuss companies are taken over every day , for utd fans that have forgotten ye have nt been a football club for years , its manchester united PLC !!!


plus its the same people people that created uproar when the club was floated on the stock market and ye see how bad that turned out for utd :p

[Metrostars]

I have to disagree with a lot of what tiktok says about Glazer and Tampa. The Bucs were always the laughing stock of the league. Constantly having losing seasons, they were really bit of a joke. The previous owner was quite a penny pincher. But when Glazer took over, he did put money into the team and revamped their image. And they did bring in good players. Trading picks for coaches is a common thing in US sports. The point is that he has done a great job with Tampa and they are not in any sort of trouble. They are still one of the top 7-8 teams in the NFL and has been consistantly good the last 5-6 years. And being good consistantly in the NFL is a lot harder to do than in the Premiership due to parity and the salary cap.

I have been a life long fan of United since the early seventies. Really, United sold its soul to the devil a long time ago when the turn the club public. A situation like this was always a possibility. However, I think a lot of fans are going way over board with their reaction. noone really know how Glazer will run the club. How can they know that the debt will be automatically transferred to United. All of this is pure speculation.

And if it was so f-king important to them, why is there no englishman willing to put his money up and rescue the club from a 'yank'?

[tiktok]

The Bucs were always the laughing stock of the league. Constantly having losing seasons, they were really bit of a joke. The previous owner was quite a penny pincher. But when Glazer took over, he did put money into the team and revamped their image.

I never said he didn't improve the Buccaneers, in fact I said they were probably worth more than when he bought them. But United aren't a laughing stock within their league (present situation excepted :rolleyes: ), their image is fine, apart from the possibility of his opebning up the US market to MUFC, I don't see how he's going to improve the club.


Really, United sold its soul to the devil a long time ago when the turn the club public. A situation like this was always a possibility.

I agree. But you don't have to mortgage your soul to the devil too.


noone really know how Glazer will run the club.

That's true, he could be good for the club, it's a done deal now anyway, so we just have to hope that this is the case.


How can they know that the debt will be automatically transferred to United. All of this is pure speculation.

To be fair, it's the reason that the board did not recommend him to the shareholders. This is a hostile takeover.

[4tothefloor]

It will be interesting alright, but im not so sure individual TV rights will happen. There are probably only 3 teams (Chelsea, Arsenal and Manchester Utd) who could command significantly more by going seperately, but will the other 17 teams let this happen ?

How would Chelsea command significently more when they have no international or nationwide fan base? There are hardly no Chelsea fans outside London, while their international fanbase isn't even worth discussing. Granted they might get a lot of 7 yr olds supporting them now, but 7 yr olds don't pay the satellite bill! You're forgetting Liverpool, who are second only to Man U when it comes to their world wide fan base. Liverpool would be able to command bigger money than Arsenal or Chelsea simply due to the huge audiences that they can command from their own fans. I don't think you're going to see many neutrals subscribing to Chelsea TV just to watch Chelsea because they're flavour of the month.