Glazer - business ethics.
13 May 2005, 08:48 AM
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Glazer - business ethics.
Mods - this is not a sports thread so please don't move it into sports section.
Right, Glazer looks to have succeeded in his takeover of Man Utd. Many cynics are suggesting he will use the club in a long term attempt to clear his personal debt.
Could somebody explain to me how EXACTLY he could do this. I've read newspaper reports and it is, as usual, rather basic in it's wording. I want to know the legalities and how he plans to do it, the timeframe etc etc.
Thanks.
Right, Glazer looks to have succeeded in his takeover of Man Utd. Many cynics are suggesting he will use the club in a long term attempt to clear his personal debt.
Could somebody explain to me how EXACTLY he could do this. I've read newspaper reports and it is, as usual, rather basic in it's wording. I want to know the legalities and how he plans to do it, the timeframe etc etc.
Thanks.
13 May 2005, 08:54 AM
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No, I didn't get that either.. Not sure how spending £790,000,000 on shares clears a debt 
From what I hear he is a massive sports fan in general and his eldest son is a big Man U fan, so all the boo boys protesting outside Old Trafford haven't really got their facts rights saying he knows or cares nothing about the club.
From what I hear he is a massive sports fan in general and his eldest son is a big Man U fan, so all the boo boys protesting outside Old Trafford haven't really got their facts rights saying he knows or cares nothing about the club.
13 May 2005, 09:26 AM
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well for a start all the Utd fans seem to believe hes going to negotiate man utds OWN TV rights instead of the TV doing deals with the FA. but this si a load of tosh because its the FA who decide not uncle malc... half the utd fans aint got a clue....
they also claim he'll be selling off their best players but wont be putting cash into the club... well IIRC hes made the bucaneers in the states very successful (albeit in mucho debt) I think utd are worried about the fact that the guy who will own man utd will be in £300m worth of debt (think thats what hes borrowed to help buy utd) so the biggest richest club in the world is now in debt...
either way its made me happy
they also claim he'll be selling off their best players but wont be putting cash into the club... well IIRC hes made the bucaneers in the states very successful (albeit in mucho debt) I think utd are worried about the fact that the guy who will own man utd will be in £300m worth of debt (think thats what hes borrowed to help buy utd) so the biggest richest club in the world is now in debt...
either way its made me happy
13 May 2005, 09:43 AM
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Glazer has no interest in United except as a money making machine. He has shown how out of touch he is by promising £20 million for new players, yes plural.
His track record as far as the Bucs is concerned is he took an underachieving club and got them to win the Superbowl, however the year after they lost most of their games.
He financed this by putting up prices and bringing in corporate sponsers.
However, I have to say that IMUSA have always been critical of the clubs PLC status and now it looks like it could be private are even more vehement in their opposition. As a United fan since a small boy, I never agreed with their anti PLC stance, the club was well run, solvent and successful, money was made available when it could be and although dwarfed in comparison to the Real Madrid's of the world, was certainly on a par with anything in the Premier League.
I don't want to see Glazer take over, based purely on the fact that the board have rejected his proposal once, and couldn't recommend his second proposal.
His track record as far as the Bucs is concerned is he took an underachieving club and got them to win the Superbowl, however the year after they lost most of their games.
He financed this by putting up prices and bringing in corporate sponsers.
However, I have to say that IMUSA have always been critical of the clubs PLC status and now it looks like it could be private are even more vehement in their opposition. As a United fan since a small boy, I never agreed with their anti PLC stance, the club was well run, solvent and successful, money was made available when it could be and although dwarfed in comparison to the Real Madrid's of the world, was certainly on a par with anything in the Premier League.
I don't want to see Glazer take over, based purely on the fact that the board have rejected his proposal once, and couldn't recommend his second proposal.
13 May 2005, 12:09 PM
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For what good it will do (too little too late) I joined shareholders united yesterday. Alas I didnt have a billion quid spare to donate though 
. Whatever his business ethics, the guys 78 so will be in heaven in no time. Hopefully his family will sell his shares to nice people like Fern Britton and Bombhead from Hollyoaks...
P
. Whatever his business ethics, the guys 78 so will be in heaven in no time. Hopefully his family will sell his shares to nice people like Fern Britton and Bombhead from Hollyoaks...P
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13 May 2005, 12:18 PM
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Originally Posted by Abdabz
For what good it will do (too little too late) I joined shareholders united yesterday. Alas I didnt have a billion quid spare to donate though . Whatever his business ethics, the guys 78 so will be in heaven in no time. Hopefully his family will sell his shares to nice people like Fern Britton and Bombhead from Hollyoaks...
P
. Whatever his business ethics, the guys 78 so will be in heaven in no time. Hopefully his family will sell his shares to nice people like Fern Britton and Bombhead from Hollyoaks...P
13 May 2005, 12:23 PM
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not too up on all this, but can someone point out what the big deal is whoever owns the club. The clubs still the same nothings gonna change, its just a different man at the top. IMHO big deal, i fail to see the downside.
13 May 2005, 12:31 PM
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hes transfering debt into utds anem. he'll push up prices to gain his initial outlay back and once hes made a tidy profit he can walk away leaving utd in the poo..... or so they think...
they also think he'll renegotiate TV rights to pocket cash, even though this is down to the FA... they just want to be in the news because chelsea are hogging the lime light with winning the premier****.
they also think he'll renegotiate TV rights to pocket cash, even though this is down to the FA... they just want to be in the news because chelsea are hogging the lime light with winning the premier****.
13 May 2005, 01:08 PM
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Originally Posted by STi wanna Subaru
Why only join yesterday? you could see what was on the cards.
PMSL at the eejits burning this seasons season tickets or should I say season stubs
...Anyhoo - I'll still be a red even if we're playing Oldham and Rochdale in a few seasons time in front of home crouds of 5000.
13 May 2005, 01:15 PM
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He'll raise capital on the asset value of Man U. So he's paid $800M, effectively he'll now got to the bank and get their backing for that amount, a bit like a mortgage on the business. He'll then use the club turnover to service the $800M debt and pocket any profit on an ongoing basis....alternatively he could get a bigger mortgage than the 800M and stick it in his tail
13 May 2005, 02:32 PM
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not up on the deal myself either but whats the difference between a yank buying into man u and a russian buying into chelsea ??
from what i've seen on tv documentaries roman abramovich is not the worlds most ethical billionaire so what gives
from what i've seen on tv documentaries roman abramovich is not the worlds most ethical billionaire so what gives
13 May 2005, 02:52 PM
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Originally Posted by 03-CTR
not up on the deal myself either but whats the difference between a yank buying into man u and a russian buying into chelsea ??
from what i've seen on tv documentaries roman abramovich is not the worlds most ethical billionaire so what gives
from what i've seen on tv documentaries roman abramovich is not the worlds most ethical billionaire so what gives
Glazer OWES millions.
There is no comparison.
13 May 2005, 03:12 PM
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I think its funny that all the negativity if pointed at Glaser, he's only the buyer, its the Irish connection(brought in by Fergie initially) who are selling out....Probably Liverpool fans at heart
13 May 2005, 03:32 PM
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Originally Posted by Abdabz
Instinct reaction TBH. Plus I've come into some money and thought I'd throw it at a futile cause...Also to register my frustration at the whole thing and the fact he looks like John Mcriricks brother that lived in a cupboard surviving on dust and bugs...
PMSL at the eejits burning this seasons season tickets or should I say season stubs...
Anyhoo - I'll still be a red even if we're playing Oldham and Rochdale in a few seasons time in front of home crouds of 5000.
PMSL at the eejits burning this seasons season tickets or should I say season stubs
...Anyhoo - I'll still be a red even if we're playing Oldham and Rochdale in a few seasons time in front of home crouds of 5000.
You should have done it sooner like a lot of us did.
13 May 2005, 05:33 PM
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Originally Posted by TheBigMan
Abramovich IS a billionaire.
Glazer OWES millions.
There is no comparison.
Glazer OWES millions.
There is no comparison.
didn't realise he was in serious debt.
13 May 2005, 08:14 PM
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LOL! You think anyone with lots of money just stashes it in the bank? I bet that Abramovich has large amounts of personal debt, plus some loss-making companies. In this way, he can avoid paying taxes and even reclaim stuff like VAT from HMC&E. All the real money will be in offshore companies and charitable foundations of which he is definitely not a director.
See Bernie Ecclestone, Philip Green and Hans Rausing for examples of this.
See Bernie Ecclestone, Philip Green and Hans Rausing for examples of this.
Last edited by carl; 13 May 2005 at 08:16 PM.
14 May 2005, 10:15 AM
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Heard Sugar this morning (ex-Tottenham owner) humming and haaing about what Glazer was up to. Must say Sugar was floundering a bit. As said above the club will be his private property and debt serviced by income received by club. If it does well he could be quids in but if they have a bad run or fans turn the screw (like not turning up for a few matches) then he's in the **** and the club suffers with him. He has several failed business attempts behind him, probably knows sod all about soccer and the sport is a well known money hole. Turning an ailing Yank Football team around is not the same as running the most successful soccer club in the world. It might just need Ferguson and a few key players to leave and MU would be middle league leaving Glazer staring into space. DL
14 May 2005, 02:50 PM
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Originally Posted by David Lock
Turning an ailing Yank Football team around is not the same as running the most successful soccer club in the world.
Liverpool FC are the most successful team. Man U are the most supported. (UK teams)
14 May 2005, 05:21 PM
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United made £12 m last year based on a value of £790m. That is probably one of the worst performing PLC's in the country and forecast results aren't much better. With £800m to spend he could have purchased a number of far better companies.
14 May 2005, 05:35 PM
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Originally Posted by STi wanna Subaru
You should have done it sooner like a lot of us did.
I actually regret doing it now and wish I could have a refund, but hey ho
P
14 May 2005, 06:16 PM
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Its a shame that more business,s dont buy footy clubs , then assest strip them, sell them off and reuse the land for somthing else..
it makes me laugh, the fans moan and bitch and bleat how they wont support or refuse to buy etc... and the new strip comes out and they slavishly like sheep trot out and buy it...
yet dare you suggest they are being ripped off and they defend the buggers to death...
one month of no tickets sales- attendance at any uk football club, and you would see the prices fall faster than you can speak..
until the cash cow cycle is broken, football will milk its supporters dry..
M
and yes i dont like football!!
M
it makes me laugh, the fans moan and bitch and bleat how they wont support or refuse to buy etc... and the new strip comes out and they slavishly like sheep trot out and buy it...
yet dare you suggest they are being ripped off and they defend the buggers to death...
one month of no tickets sales- attendance at any uk football club, and you would see the prices fall faster than you can speak..
until the cash cow cycle is broken, football will milk its supporters dry..
M
and yes i dont like football!!
M
15 May 2005, 12:37 PM
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First time I'm agreeing with mart360
Why complain about some rich American when you're already being bled dry with stupid ticket and merchandise prices to finance playboys kicking a ball about. Roy Keane getting 90k per week?? WTH
Why complain about some rich American when you're already being bled dry with stupid ticket and merchandise prices to finance playboys kicking a ball about. Roy Keane getting 90k per week?? WTH
15 May 2005, 05:11 PM
#27
they should name the clubs properly:
Manchester United inc
Liverpool Ltd
Arsenal corporation
etc
It is just entertainment industry now - I can not see any reason for loyalty to a club any more...
Players and managers change like a kids buy and collect card game...
It's all lost it's appeal to me - international matches have some meaning (England first, Brazil second )
Mick
Manchester United inc
Liverpool Ltd
Arsenal corporation
etc
It is just entertainment industry now - I can not see any reason for loyalty to a club any more...
Players and managers change like a kids buy and collect card game...
It's all lost it's appeal to me - international matches have some meaning (England first, Brazil second
)Mick
16 May 2005, 09:32 AM
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Originally Posted by Abdabz
In hindsight I should have just given the money to a tramp or a passing person with piercings, because when you donate £x to sharehoders united you dont even get an email to acknowledge your contribution - just a standard email from the equivalent of paypal confirming your transaction on behalf of SU.
I actually regret doing it now and wish I could have a refund, but hey ho
P
I actually regret doing it now and wish I could have a refund, but hey ho
P
You will get your pack with information regarding your shares in the post.
16 May 2005, 10:55 AM
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Manchester who?
Oh well, never mind, whoever you are...
This Glazer chap seems awfully nice to me. Apparently his son even checks the "soccer" results on Tellytext or soemthing. He always looks for The Reds first. You know, Liverpool. Or is it Arsenal? Some English team, anyway. He really loves soccer.
Oh well, never mind, whoever you are...
This Glazer chap seems awfully nice to me. Apparently his son even checks the "soccer" results on Tellytext or soemthing. He always looks for The Reds first. You know, Liverpool. Or is it Arsenal? Some English team, anyway. He really loves soccer.