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This is a Glazer exit report that I WANT to believe

There are stories which cannot be taken seriously while there are others which we desperately WANT to believe. This is one of them. Reports have been circulating for weeks that the Glazers were on the verge of accepting an offer from Qatar Holdings to take Manchester United off their hands. One denial after another was issued by club representatives but the story is still well and truly alive. While the Daily Express is reporting that a “well placed source” said that “the deal is pretty much done and they are only haggling over details” United is still disputing the claims.

On Thursday, Phil Townsend, United’s director of communications denied that any offers had been made. “There has been no approach to buy Manchester United and no approach would be welcome” he said. Is that the end of the matter then? Hardly! Investors who are negotiating the sale of their biggest asset are not going to admit to it. Denials are part and parcel of the chess game which is being played out.

According to the Express, the Glazers are in the midst of finalising the sale to Qatar Holdings, the investment branch of Qatar’s Royal Family. The US Glazer family purchased the club in May 2005 for £790 million and could set a world record by selling it for £1.6 billion.

If the details of the sale are accurate, there are reports that Saturday’s Manchester derby could be the last match under the Glazers. The family has been largely unpopular and widely criticised during its six year regime due to excessive debts that have put the club’s future at risk and caused ticket prices to soar.

After winning the rights to host the 2022 FIFA World Cup, Qatar Holdings is looking to capitalise on the rising popularity of football in its country by purchasing one of the biggest clubs in the world.

Are we finally seeing the beginning of the end for the Glazers?

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No Responses to “This is a Glazer exit report that I WANT to believe”

  1. shahril says:

    glazer,please leave united and will this club will be the greatest club if u sell united to other richest people..many trofies the united will get without u!

  2. jezz09 says:

    There is one MAJOR drawback here……………………….. The story is being run by the Daily Express!

  3. RedScot says:

    This story again!;) Orginally from the Sunday Mirror, on the weekend when, there was zero football(snowbound) to report on, in the Premiership.I know lets make up a story, about the crippling debt at one of the Worlds most famous clubs, this will keep newspaper sales ticking along. 😉
    .
    Up to date, although the story wont go away,the “Source” orginator, on this occasion, the Daily Express,that worries me :)Its hardly the Mecca for financial information, innit.
    We all want new owners, well the majority of supporters,and people who can see the big picture.I just cannot buy into something that you cant see, and understand what they the Qatar’s intentions are.What is the prospectus, the buisness plan they are bringing to the bargaining table? We simply dont know, most of this type of high financial takeovers, I would imagine are kept very secretive and playing your cards to close to your chest.I realize there are “whistle blowers”, who are they?.Why would you publicise this information is it a stalking horse, to bring on more competition, to purchase Manchester United.Its like a chess game to me,and we dont know who we are playing against.
    The key point, if this offer is genuine, and the figures that are being bandied around, that they are willing to pay for an”Iconic” brand, it makes no sense for the Glazer not to sell at even the lowest of these alledged valuations.They would walk away,”if they clear the debt”, with approximately One Billion Pounds, give or take a few hundred Million.So why would they not sell. ? If they like most buisness people, rely on bottom line, profit to justify keep operating the buisness.Even with the most favourable of “profit” projections, it would take a considerable time, many years to recoup, One Billion Pounds.Plus I am sure they free themselves of the aggravation,and hatered, attatched to the Glazer name.
    To me, I am not convinced it is crediable, that there is an offer or arrangement in place.Its simply wishfull thinking.
    .
    There are dark forces at work here.In a way, its a leap of faith, do we know, were we are leaping too.?We dont want to be “hypocrites” like United supporters have called City supporters often, for their crazed spending of Oil money, or is that simply being consequential, on the eve of a Derby. 🙂
    I can sorta see me, with a tea towel, round my Bonce. 🙂

  4. Mike says:

    Redscot – I disagree about the spending part, if United were debt free we would make nearly 100m in profits every season, so we would be using out own money to buy players, not the Qatari’s money. City cannot generate their own money and are using their owners oil money.

    That would not be the case if we were purchased.

  5. Frank Scicluna says:

    I’m no bean counter Mike but I have often wondered how much of the Glazers debt payments would have gone out in shareholder dividends and UK tax anyway. Would love for someone to enlighten me.

  6. RedScot says:

    It disnae matter a flying fuck, lets shout the players on the Morrow.I will. I always do, at the Telly or the away games.They are “our’s”.Manchester United, fitbae players.Its a Great, magnificent club, proud and full of history, tradition, WE have a game to win, lads, lassies, Lets be as is said, the Twelth man on Saturday. We can knock them out of the Premiership, as we all know. And we will.
    Cmon You Reds,shout your hearts out for your United.

  7. Tom Addison says:

    @Frank: Good point about the tax thing, with the level of profits United make they’d be paying 28% on total net profit. It’s not like income tax over here, it really is as simple as that (he says with some slight doubt!). But the interest payments are considerably more than any tax savings that have been made.

    Dividends is a complicated one, there’s all sorts of tax reasons for paying them out, and they’re more common in plc’s than private companies.

    And this is where I agree with fan ownership, it would stop directors/owners awarding themselves for the club’s success for which they had very little role in bringing about, like a Trade Union does. The profit incentive isn’t as important in football because football clubs NEED numerous competitors, unlike ordinary businesses, who would like to destroy their competitors so they can become a monopoly and make ridiculous profits.

    But yes, I would rather we didn’t do a City and sell out to some oil-rich arabs, but if it means getting rid of the Glazer’s, well, I suppose the arabs are the lesser of two evils.

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