There have been stories in some of the papers that the iwners are considering a floation on an Asian stock exchange: ''The owners of Manchester United Football Club are considering returning the company to stockmarket in a £1.7 billion flotation that would see it listed in Asia rather than London, it was reported today. The Glazer family, which owns the club, has held talks with several investment banks about listing the Premier League Champions on the Hong Kong stock exchange, The Sunday Times said. Bankers are believed to have told the Florida-based tycoons that the listing could value the club at £1.7 billion - more than double the £790 million the Glazers paid for it in 2005. The popularity of Manchester United in Asia means the club could attract a higher price in Hong Kong than in London. The family has been encouraged by a raft of recent floats on the Hong Kong stock exchange by consumer goods companies such as Samsonite. But sources close to the discussions told the newspaper that the plans were at an early stage and could amount to nothing. Sir Alex Ferguson's team recently won its 19th league title, making it the most successful club in the history of English football. The club is one of the best supported in the world and is thought to be the third wealthiest after Spain's Real Madrid and Barcelona. Last year, the club's revenues of £286 million and operating profits of £91 million were the highest in the Premier League. But the club made losses of £79 million as a result of interest payments the Glazers have piled on to the club, which have made them unpopular with many fans. The Manchester United Supporters Trust has been encouraging fans to wear green and gold scarves, the colours of the club until 1902, to show their opposition to the Glazers. News that its owners are considering a float may encourage fresh interest from the Red Knights, a consortium of wealthy United fans interested in buying the club. They began assembling a bid last year but found their valuation of the club fell well short of the £1.5 billion the Glazers believed it to be worth. The Glazers said at the time that they would "not entertain any offers" and they remained fully committed to their long-term ownership of Manchester United. The newspaper understands that representatives of the Knights have toured the Middle East in recent weeks trying to attract financial backing that would allow them to improve their offer.'' http://www.independent.co.uk/sport/...n-utd-owners-eye-asian-flotation-2296660.html http://soccernet.espn.go.com/news/s...nchester-united-flotation-and-buy-out?cc=5739 Probably more press rubbish but I would not be surprised by anything the Glazers do to make a bit of money from their exploitation of this football club.
Whether a floatation like that would benefit anyone but the Glazer scum I really couldn't say because I simply don't know enough about how it would work.
it would appear that if it has any depth to it that they could be lining up to sell, then again I know pretty much nothing about this apart from whats there, doesn't seem to indicate that there is any added incentive for them to do it if they weren't looking to sell up as a result.
if its floated doesnt that mean someone like the qataris can come in and buy shares,and if they buy more than 60% then they become the majority shareholder. i also heard that the spending money for this summer is from them,wether its a loan or just given,i dont know. ALEX FERGUSON'S £100M QATARI BACKING MANCHESTER UNITED’S sensational summer spending spree is being funded by Qatari money, it was claimed last night. United boss Sir Alex Ferguson has set up around £60million of deals already and could end up splashing close to £100m with Inter Milan’s Wesley Sneijder, 27, his next target. A leading football wheeler-dealer told the Daily Star Sunday: “United’s transfer business is the talk of the game. “And the big question is where all this money is coming from, given the level of debt at the club. “The level of spending is eye-opening and the word on the grapevine is that this is money from Qatar, where the royal family are known to be interested in buying United from the Glazers. “It could be that some sort of deal, possibly a loan or a down-payment, has already been made.” Qatar Holdings, the financial arm of the ruling Al Thanis, have regularly been linked with a near-£2billion takeover at United despite Old Trafford denials. It has been claimed in the Middle East the Qataris want to take on the Abu Dhabi United Group at Manchester City and that they will eventually persuade the Glazers to sell. Fergie is delighted that he has been given the go-ahead for his biggest-ever spree. The Premier League champions have deals in place for Atletico Madrid goalkeeper David De Gea, 20, which could eventually be worth £25m, Aston Villa forward Ashley Young, 25, at approaching £20m and Blackburn defender Phil Jones, 19, at £16m. Fergie now wants a midfield player due to Paul Scholes retiring and is ready to make a final bid of £30m to land Sneijder, despite the Dutchman stating two days ago that he was happy at the San Siro. Sneijder, who has always admitted privately his ambition is to join United, is not the only playmaker on the veteran Scot’s radar. Fergie is keen on Spurs’ in-demand Luka Modric, 25, and United are also being linked with Arsenal’s Samir Nasri, 23, who has just a year left on his Emirates contract. Udinese’s Chilean winger Alexis Sanchez, 22, is admired by all Europe’s big hitters – including United.
^ I read reports like that a few days ago. Realistically though is it possible, given the amount of debt, that the Glazer's could afford to spend £100m on player's in one summer? It seems like many reporters think not, so they are automatically assuming it must be the Qatar Royal family funding it without any real evidence
It remains a mystery where the gimps found £220 million to pay off their PIKs, and a further £22 million to buy back some of the Bond. It's also a mystery why they would issue a Bond for £500 million when they claim to have £135 million in the bank, meaning they are paying 5% (net difference) interest on £135 million. It's further been suggested that this sudden affluence can only logically be explained by the involvement of a third party. All hearsay at the moment though.
Pure and simple marketing for me. Weird though that the capitalists want to float their company on the second capitalist (after Shangai) stoke exchange of the biggest communist country in the world....it is a funny old game. Makes not much difference though, you might even get a few tax breaks in terms of capital gains on any profit taking unless you realise them in GBP from HK Dollar.... Looks like United fans will have to get a HK broker to act for them...interesting... One thing though, in terms of announcements to the market. HK is what, 8-10 hours ahead - so their trading day is pretty much over when ours is beginning...how that will work I do not know. They might have to be duel listed stocks... Another interesting point would be that the value of the club would be subject to price fluctuation and exchange rate fluctuations. I do not think this will happen, I know nobody in equity finance either to ask.
FT. $3 Billion? And those buying into this would have no voting rights or dividend guarantees? Bizarre.
Which is a good point, any investors will be taking on exchange rate risk with this. Remarkable, great leverage that.
It's a notional figure, and I suppose depends on ones definition of a 'supporter'? I very much doubt too many of these hundreds of millions will be wanting to hand over hard cash in exchange for a share certificate and precious little else, but then they do say there's one born every minute.
That is just it, I think that there will be lots of investors willing to not only take on the exchange rate risk on the investment, which is significant from a portfolio management perspective, but also not to have voting rights. Now, I expect there to be clubs that want to get involved in this in Asia because of the potential leverage ownership could bring in terms of friendly games, partnerships, stature (look at us, we own part of Manchester United) and so on...and then there will be others that just fancy a punt on the price. There does seem to be high yields on the debt stock, and low promise of yield on the equity stock, make what you want of that, sounds to me like it is the name that counts here. As to what makes a supporter, let's tackle that one at a later date..again..
We all have our views on that and imo it's not some sad oaf in a bar in Jakarta watching Sky wearing a (insert club name here) shirt.
An Asian floatation just goes to show the global appeal of the club, without it the club would be worse off. I don't think any fans in Indonesia, or Brazil for that matter are really trying to compete as to who is a "proper fan" with someone who has been a ST holder for 10 years or something..
Now they're choosing to fleece the Asian fans of hundreds of millions. As Stret says, it's clever because there is indeed one born every minute. The Glazers will be rolling in it, looks like things are starting to go to plan for them, regarding what they can get out of Manchester United?
How are they going to get fleeced? If you think that the price is going to go down then sell short the stock and make money when it goes down, nothing stopping you. You´ll need a broker in Singapore, try these guys: http://mfglobal.com.sg/en/index.html I am not taking the piss, you can do that quite easily, borrow the stock (repo) and then sell it, then buy it back and give it back to the lender... On the other hand, if the price goes up for the Asian investors, and they are getting paid dividends and then they can sell and make a profit. I am not sticking up for the Glazers, I think they are c**ts, but I am just balancing things out a bit.
But there's the rub. Obviously we don't know for sure yet but the noises are all suggesting shares will carry either voting rights or dividends, rather than both. That said I've no sympathy for those who choose to buy them, they (should) know what they're doing and if they're happy with a certificate to put on their wall then fine.
