The Sunday Telegraph have today reported that any move to shelve takeover plans would be close run, with 55% of The Red Knights in favour of dropping it - but 45% still wanting to pursue it.
Is it bollocks or what?
Red Knights drop bid?
(37 posts) (11 voices)-
Anonymous
Unregistered
Posted 3 years ago # -
Anonymous
Unregistered
Supposed to be a statement made later this weeks from the Red Knights
Posted 3 years ago # -
Anonymous
Unregistered According to some "insider" cunt on the Red Knights Facebook, the Glazers aren't prepared to entertain a bid worth anything less then £1.5bn (so they ARE willing to sell?).
So apparently the Red Knights are gonna go away and seek more investment and then put in another bid when the time is right i.e. closer to doomsday.
Don't know how 'official' this source is, but it makes sense
Posted 3 years ago # -
Anonymous
Unregistered That's according to the Glazer spin machine, Tel. I don't think the £1.5bn consortium bid was ever confirmed.
But yeah, even if it was true, it seems the Glazers wanna sart at £1.5bn and work upwards
Posted 3 years ago # -
Alfonso Bedoya
Moderator
Just got this in my inbox... make of it what you like...
"Red Knights keep up pressure on Glazers
James Robson, Manchester Evening News
June 01, 2010The Red Knights face a crunch meeting on Tuesday when they are expected to reaffirm their determination to wrest control of Manchester United from the clutches of the Glazers.
But the mega-rich consortium of investors refuse steadfastly to meet the £1.5bn valuation of the club.
While that will not sound the death knell for their much-publicised bid for United, it means any offer could have to wait until after the World Cup.
Despite reports over the weekend claiming the Knights were on the verge of pulling the plug on their proposed bid to oust United's controversial Florida-based owners, they have let it be known their interest remains very much intact.
But they refuse to pay over the odds - even if that effectively rules out their hopes of a quick sale.
Instead - with financing in place - they would rather play the waiting game and see the pressure increase on the Glazers before making a bid in the region of £1.2bn. And that is what will be on the agenda when the Knights get together.
The Glazers insist United are not for sale at any cost - reiterating that stance last week.
In a statement they said: "The owners remain fully committed to their long-term ownership of the club. Manchester United is not for sale and the owners will not entertain any offers."
The Glazers even claim they rejected a £1.5bn offer from a mystery Middle East investor last year. [note - which we have good reason to believe wasn't £1.5bn at all, and in any case is irrelevant as it was before the supporters' Green & Gold campaign]
But the Red Knights - led by Goldman Sachs banker, Jim O'Neill, and backed by the hugely successful Green and Gold campaign - believe the gritty American businessmen can be tempted to sell, despite all their public assertions to the contrary.
While a bid before the World Cup has not yet been ruled out, it is becoming increasingly likely it will now happen after the showpiece tournament, which starts on June 11 - especially if they are determined not to meet the £1.5bn valuation."
"Badges, to god-damned hell with badges! We have no badges. In fact, we don't need badges. I don't have to show you any stinking badges, you god-damned cabrón and ching' tu madre! Come out from that shit-hole of yours. I have to speak to you."Posted 3 years ago # -
Probably best you get to read the statement I was sent this morning:
Red Knights Press Release
The Red Knights remain committed to pursuing their efforts to try and help bring ownership of Manchester United to its supporters, and under a structure with materially less debt. As we have maintained however since news of our ambitions first emerged in March, we will only attempt to purchase the club at a sensible price, consistent with the long term interests of the club.
Persistent speculation in the media of inflated valuation aspirations has made our goals less attainable, as potential investors have strongly reinforced our views that we should not move forward at a price uneconomic for the future of the club.
We understand that many supporters were hoping that we might be in a position to make a bid before the season ticket renewal deadline. However, our approach is best served by long term interests of all. We have never taken a stance on season ticket renewals, it is a personal choice for all supporters.
We have spent some considerable time assessing the value of the club. If the fundamentals lead to a more realistic re-assessment then, along with our co-operation with MUST and other Manchester United supporters, we will aim to achieve our goals.
# end #
Editor & Moderator at http://www.unitedrant.co.ukPosted 3 years ago # -
From BBC
The Red Knights group of wealthy supporters mulling a takeover of Manchester United has shelved plans to make a bid for the club.
The group said media speculation of "inflated valuation aspirations" had hampered its plans.
It added that it had always maintained it would only pay a sensible price for Manchester United.
Last week, United reiterated it was not for sale and that the Glazer family owners would not listen to offers.
The Glazer family bought Manchester United for £800m in 2005.
The Red Knights group includes the former Football League chairman Keith Harris and Goldman Sachs chief economist Jim O'Neill
Don’t be trapped by dogma — which is living with the results of other people’s thinking.
Don’t let the noise of others’ opinions drown out your own inner voice - Steven JobsPosted 3 years ago # -
Again, no fucking way are 28 investors going to pay an inflated price for a business in this environment.
Glazers 1 - Red Knights - 0
Round 2 will begin later this year when the financial covenants get tested and the interest payments really start hitting.
Alternatively, this could also be a bullshit media announcement to put the Glazers off track.
Posted 3 years ago # -
Anonymous
Unregistered In all honesty both MUST and the Red Knights are living in tra tra lala land unless they can cause the Glazer´s through the fans to actually lose money or come in to the position where they could default on the loans then both MUST and RK are blowing bubbles with this stance that they wont pay over the odds.
Posted 3 years ago # -
ltel
Member
MUST statement sent to press today:
MUST welcomes the statement from the Red Knights group that they remain determined and committed to achieving the ultimate aim of a supporter-owned club.
MUST also supports the Red Knights reinforcement of their position that they will not pay above fair value for Manchester United. This is in the best long term interests of Manchester United FC and its supporters.
Rather than lining the Glazers pockets with yet more of our money, we want to invest instead in squad strengthening, stadium improvement, rewarding loyalty with fairer ticket prices and paying down the debt - not to mention the fact that if supporters are going to be able to afford a decent chunk of the shares in the second phase of the Red Knights takeover, then an inflated valuation will significantly impact on that. Haven't the Glazers taken enough money off supporters already?
Our understanding is the collective net worth of the Red Knights far exceeds that of the Glazers. It isn't about a lack of resources. It is about fair value and doing what is right the Football Club.
We understand the intention of the statement from the Red Knights is to remove the time deadline pressure and set more realistic expectations with regard to a bid. There is no rush – the pressure is building on the Glazers with matchday revenues declining and the need for huge investment in the playing squad over the next few seasons, especially when Sir Alex retires. There is increasingly fierce competition both domestically and in Europe especially from Chelsea, Real Madrid and Barcelona, along with new challenges even for Champions League qualification coming from Spurs and Manchester City. This will increase competition for the best players and consequently the costs associated with maintaining the club's current position and revenues.
In the meantime MUST and the Red Knights will continue to go about our preparations and be ready when the Glazers are prepared to take a realistic view on the valuation of the club.
A MUST spokesperson said:
"We completely support the stance of the Red Knights group not to pay a ridiculous premium price to the Glazers. We want to see investment in the club – not more money going into the Glazers pockets. After the damage that they have already inflicted on our club many supporters would feel sickened to see them walk away with a huge profit."
"In addition to the huge debt they’ve dumped on a previously profitable club they also wasted £443m in interest and fees – far more than the total (£398m) received from supporters in payment for tickets during their reign."
"So they’ve wasted every single penny we’ve paid for tickets over the entire 5 year period. No wonder so many supporters are considering switching from a season ticket to match by match attendance or delaying season ticket renewal until the Glazers agree to sell."
"Under a future structure where ownership is shared with supporters, compared to the current regime, there is the opportunity to tap into huge potential growth in revenue resulting from the enhanced affinity between the supporters and the club. We want to see that revenue reinvested into the club. There is no reason why Manchester United should not be able to compete for the very best players in the world and play in the best stadium as well as work towards the things that many supporters care about - rewarding the loyalty of its supporters with fair ticket distribution and pricing while working for the best matchday atmosphere, safe standing and fair treatment of our away support."
Posted 3 years ago # -
bman
Member
Red Knights seem like they are full of shit to me, they're just mucking about and have never gotten their act together.
I have to say I feel much better about our financial situation and the debts after reading the JP Morgan analysis that Ed linked to in another thread:
It's actually very positive. JP Morgan concludes that so long as we get at least fourth in the PL and get to the round of 16 in Europe then we will be able to substantially deleverage, i.e. pay off the debts. The better news is that we nearly always do better than that in both the PL and CL each season, which makes our financial situation even better, and more good news is that they believe that the club will continue to increase its revenues. That is, we'd have to fall out of the champions league spots to be in real trouble, which is certainly a concern, but not that likely. In other words, according to these analysts at least, the Glazers' sums add up, we can continue to outspend most clubs in the transfer market while reducing the debt.
They still don't think United bonds are that appealing as an investment, but only because they think that there are much better investments out there, not because our financial model is doomed. I assume people like Andersred who think the JP Morgan report is somehow negative are mistaking its evaluation of United as an investment, which it is not very enthusiastic about, for its evaluation of United's business model, which it is overall quite positive about. Since I personally have no interest in investing in United bonds, I could care less about that aspect of things, and I'm just happy that at least one professional analysis firm thinks we're alright.
No, I don't love the Glazers, or even like them, but I do think a lot of people have been too hasty to castigate Fergie and Gill, who have both been good servants of the club for years, and have earned at least a modicum of our trust.
Posted 3 years ago # -
Alfonso Bedoya
Moderator For fuck sake Byrnie... listen to yourself... if we make 4th, and if we make the latter stages of the Champs league... we'll be ok.
We shouldn't be hoping to be OK... we should be making money by the truck load and spending it on players, the club, the youth program... not using it to keep afloat.
Posted 3 years ago # -
Anonymous
Unregistered Alf, you cant be impressed by the comments of both MUST or RK ?
There basicly saying that they are going to do nothing again because they are unwilling to pay what the Glazers want which is fine and in principal correct but .....
Example a basic one but similar sort of
You have something that I just have to have, I say to you Alf will you sell it, you say no eventually you start thinking why not, don't really need it but he is going to pay through the nose, seeing as I really want it either I pay what you want, do something to cause you to drop your price or leave it.
If achieving a certain position/champions league keeps things ticking over regarding paying the debt then the Glazers are going to say fuck off big nose we are going nowhere, if MUST want to be taken seriously then why are they not saying that militant action should now be being taken to try and force the asking price down, on various other forums the fans that MUST should be targeting are starting to get fed up because they feel that MUST is taking the piss, they talk the talk but don't walk the walk the only way to get rid of the Glazers is by causing them to lose money so that they have to come to the table and make compromises if they want to come out with anything and the only way to do that is to get in to the fans heads you buy your season ticket your keeping the Glazers there, you go to the match your keeping the Glazers there etcetera etcetera.
If through such actions results drop off due to Old Trafford being empty enough to hurt the Glazers then it needs to be done, you cant be champions and get rid of the glazers just isn't going to happen.
Posted 3 years ago # -
Alfonso Bedoya
Moderator WTF has that got to do with anything I've said?
I wasn't talking about the RKs... I was addressing this... "It's actually very positive. JP Morgan concludes that so long as we get at least fourth in the PL and get to the round of 16 in Europe then we will be able to substantially deleverage, i.e. pay off the debts."
As long as we're relatively successful in England and Europe... we can pay our debts... isn't that wonderful?
We can pay our debt... debt we don't need or deserve... at least if we're top four... we can pay for the Glazers ownership.
But you carry on Mate... spouting the same tired shit, that turned into a big childish strop on the other board.
And Byrnie... I do understand what you're saying, but how the fuck you see anything Glazer related, in a positive light is beyond me.
Posted 3 years ago # -
The twat in Alf has returned.
Posted 3 years ago # -
bman
Member Right, I'm just saying that we're not really screwed financially unless we suddenly start doing much worse on the pitch than we are accustomed to. JP Morgan's calculations include a decent £25M net spend on transfers per year too, which is more than we've spent on average per year on transfers in the past ten years. All in all, conservative estimates of our footballing success and revenues say that the debt is not going to kill us, and that there is money for transfers.
Obviously the Glazers are assholes who care nothing about the club or even the sport, it's just that I can take some reassurance from the likelihood that the club is not going to implode in the near future. If you read stories in the newspapers, we're about to do a Leeds and can't afford anything but free Bosmans, but that really doesn't seem to be the case.
Posted 3 years ago # -
Anonymous
Unregistered And that from the biggest gob shitting know it all cunt ever to grace an Internet forum, all you see is what you want to see earlier I actually asked you opinion regarding MUST and the Red Knights and there comments but all you were capable of doing was going off on one of your now famous tirades.
You really are one sad fucker sat in piss stained underwear in a piss stained Armchair unable to communicate on a normal level with normal people, by fuck your real life must be a fucking nightmare if you have to go on to Internet Forums to play the big man gobbing off to all and sundry. Have you ever considered that no cunt likes you at all and at some point in your life you going to be sat there all alone because no body wants to know you, hopefully that day will come sooner than think.
Don´t bother answering ive got better things to do with my life than argue the toss with sad pathetic know it all gobshiting self important post monopolising twats like you who think there funny the bees fucking knees something important because wank breath ive got news for you, you aint, but can leave this place knowing that for some reason ive jacked you off something rotten.
Maybe you could do both yourself and the rest of the fucking world a favour and go take a bath and open every possible vein that you can find.
Posted 3 years ago # -
Anonymous
Unregistered We need another Rant meet up
I wanna see Robbo & Alf go at each other
Posted 3 years ago # -
Alfonso Bedoya
Moderator Robbo talks complete and utter shit.
This is the same guy, who called me the lowest form of life on the planet... and then banned me from his forum... **wishes there was a "rolling around laughing" smiley**
Then he jumps on a point I was making with Byrnie... and doesn't even get the topic of discussion right... I didn't say a bloody thing about the Red Knights, or Must... so what the fuck was his point? Accept perhaps to stir up the same bitter argument, that I thought we'd left behind on his Rant.
And of course Spike couldn't resist the opportunity to say something stupid.
And why dannii felt the need to comment... only he would know.
I don't think I had said anything particularily offensive... and Byrnie is well capable of defending his own arguments... with a fuck of a lot more intelligence and forethought than Robbo or Spike can muster on their best days, I might add.
Robbo made it perfectly clear that he thinks I'm a cunt... oh well... can't like everyone...
Therefore, there's no need to rehash that old feud... is there?
Posted 3 years ago # -
... the fat bitch continues, what's the matter, the nurse not wiped your arse today?
Posted 3 years ago #
Reply »
You must log in to post.