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+--- Thread: Glazers, Bond Issue and Debt (/Thread-Glazers-Bond-Issue-and-Debt)
RE: Glazers, Bond Issue and Debt - Noucamp99 - 02-03-2010
Ha ha. Yes, but we'll have to bide our time with this. As frustrating as it is, we must be calm. No knee jerk reactions.
I don't think that United will do a Portsmouth just yet, but we still need the Glazers to go and get someone in who knows about football and cares about United.
RE: Glazers, Bond Issue and Debt - DaleDaManc - 02-03-2010
The glazers will only sell if there making no money!They take our money out from the club but people need to not re-new there season tickets so they make none and have to sell.
These red knights look like they want to give us what we wanted since 2o1o!
RE: Glazers, Bond Issue and Debt - Noucamp99 - 02-03-2010
The Glazers can take £400m from the club between now and 2017. The Red Knights would have to come up with £700m to clear the debt and another chunk of money to actually buy the club and this would need to include AT LEAST £400m to cover the Glazers' losses. Chances? Slim and none I'd say, especially as the Glazers have come out and said they're not interested in selling AND because the Red Knights have alienated themselves against the Glazers.
The only other way is for the G&G campaign to be replaced with a stay away campaign and let's face it, that just is not going to happen.
WHAT IS THEIR PLAN?
Simple. To raise £1billion to buy out the Glazers, who have plunged the club into debt to the tune of £716.5million.
HOW WOULD THEY RAISE THE CASH?
One idea involves finding 40 individuals to put up £20m each, with the Red Knights borrowing around £200m to top up the offer, but the plan would be to keep debt to a minimum.
HOW WOULD THEY RUN THE CLUB?
For the fans and not as a commercial venture is the plan. United would stay in private ownership and not be returned to the public markets where it was traded until the Glazers' buyout.
WHO IS THEIR LEADER?
Seymour Pierce stockbroker Keith Harris is the man brokering the potential takeover. He is a former HSBC investment bank chief executive and well known in football circles due to his involvement in takeovers of West Ham, Manchester City and Aston Villa. He is also the financier who warned last year that football's gravy train was set for a crash.
DO THEY HAVE SUPPORT?
The Red Knights have spoken with the M**T, who have indicated they will back any bid. Not surprising considering the blaze of green and gold inside Old Trafford as fans protest against the Glazers in the colours of Newton Heath, the club which predated United.
WHAT CHANCE HAS THE PLOT OF SUCCEEDING?
Not good. Exploratory discussions are thought to have begun at the offices of law firm Freshfields Bruckhaus Deringer on Monday to study the viability, rather than details, of any bid. The problem is that the Glazers maintain they have no intention of selling and the Red Knights have no way of ousting them other than to make a bid they cannot refuse.
DO THE GLAZERS HAVE ANY SUPPORT?
Not among fans but their decision to alleviate high interest repayments on the £716.5million debt with a £500million bond issue last month was successful. The issue was twice oversubscribed.
IS HARRIS CONFIDENT?
Cautiously optimistic at best. He said: "There is a serious intent on the part of those people (Red Knights) who have not just support in their hearts but the ability to muster support from their pockets to get after this and the time feels right."
Source: skysports.com
Don't hold your breathe, chaps! £1BILLION!! And still with debt. Yes, reduced, but still £200m debt.
RE: Glazers, Bond Issue and Debt - DaleDaManc - 02-03-2010
I herd they are looking for more people to help them so they dont have to borrow.There getting in touch with MUST(sorry steve) .
If no one gets a season ticket next season they aint going to keep the club
RE: Glazers, Bond Issue and Debt - Noucamp99 - 02-03-2010
Like that's going to happen! They want another 40 people to put up £20m each. Don't they think those 40 people are going to want a return on their investment? Get in the real world and stop stringing us along.
The Bonds issue that was over subscribed needs to be financed, too, with the return on that investment due around 2015. They would need to find that money, too, to help the Glazers settle that debt.
As much as I want them out, I can't realistically see it. That's sad.
RE: Glazers, Bond Issue and Debt - Vazza - 03-03-2010
GILL firmly supporting Glazers,,, F**r
According to news . latest Bid was 1.5 billion... why caunt they just sell and move on :0 ........
and Glazers said ... another 7 years they Will keep united...
wat te thnk in mind is utd is their Debt holding place .... B.s
RE: Glazers, Bond Issue and Debt - Noucamp99 - 03-03-2010
Manchester United chief executive David Gill has questioned the Red Knights' takeover bid after reiterating that the club is not for sale.
The Glazer family moved to deny reports earlier this week that they were prepared to sell their stake in United to the Red Knights.
The Red Knights, a group of wealthy fans, are targeting the Glazer family's debts as part of a potential takeover.
But Gills has stressed that the Glazers are not interested in selling up and are running the club in the right way.
"The owners are very long-term owners and have shown that with Tampa Bay which they took over in 1994-5," he said at the Soccerex conference in Manchester.
"They are not sellers, that's not saying people like these Red Knights can't come forward with some ideas.
"But there is no indication to mean that they want to sell and in that case they cannot buy the asset, it's not for sale.
"The Glazers have no wish to sell and from our perspective they are running the club in the right way."
Gill is not sure whether the Red Knights' plan would be workable but says it is not important anyway as the Glazers remain committed.
He added: "The Red Knights proposal, the idea of having 20, 30 or 40 very wealthy people running Manchester United, I don't know how it would work in practice.
"The better run clubs are where there is clear single decision-making and it's quick and efficient - Roman Abramovich at Chelsea, Sheikh Mansour at Manchester City, Silvio Berlusconi at AC Milan.
"Having a number of wealthy people involved - they will all want to be involved in decision-making.
"I'm not sure what their endgame is but the endgame is irrelevant.
"The vast majority of fans of Manchester United should be happy with what we are doing and staying at the top of domestic and world football."
Source: skysports.com
Once again; as much as I detest the Glazers and what they have done to the club I love, I have to agree with Gill. The solution of the RK is just not workable and they still leave the club in debt. There really is no quick fix.
I also see from latest e-mails from them, that they want 100k members signed up, who I believe, they will pressurise into not going to matches, renewing season tickets, etc. Good luck with that (he says sarcastically).
RE: Glazers, Bond Issue and Debt - DaleDaManc - 03-03-2010
being honest f**k gill i dont care our club could be in trouble and its not right!
Its an total embarsment(sorry spelling lol)!
Looks terrible to and its ruining the name Manchester United!
I'm supporting red knights! Anyone but them twats!
Gill dosnt care he is getting paid
RE: Glazers, Bond Issue and Debt - WatchMUFC - 03-03-2010
What do you know about the red knights?
There a bunch of Cockney twats who are mega rich. They are going to take over and about 6 months later there going to disagree about something and there all going to fall out and well be fuked.
I think that what Gill says here
http://news.bbc.co.uk/2/hi/business/8548113.stm
(watch the interview)
If it's true it's great. theres one owner (glazer) if united wanna buy a player lets take Chris Smalling for example...
Gill said that all he had to do was ring glazer in yankee land say we want to buy smalling and bammm sorted. If these red knight twats take over when we wanna buy a player it will go to a committee vote. Load of shite TBH.
The entire club is fuked. One way or another doesn't look good.
I also like when gill said this...
Quote:well keith harris will go anywhere a bit of publicity is
RE: Glazers, Bond Issue and Debt - Vazza - 03-03-2010
you are right..... if again a single owner buys united is it ok ? or still ter will be a prob arise..