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Old 23-11-2022, 11:50 AM   #31
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Default Re: Malcolm Glazer & Family

MANCHESTER UNITED STATEMENT IN FULL: Club confirm the Glazers ARE prepared to sell up after 17 years at Old Trafford - as US tycoons announce they are set to evaluate 'strategic alternatives' in shock statement

* The Glazers have confirmed they are ready to sell Man United after 17 years
* United revealed they have started a process to 'explore strategic alternatives to enhance the club's growth' in a shock statement on Tuesday night
* Joel and Avram Glazer insist they are determined to do what is right for the club


The Glazers have confirmed they are ready to sell Manchester United after 17 years at Old Trafford.

In a sensational statement on Tuesday night, United revealed they have kickstarted a process to 'explore strategic alternatives to enhance the club's growth', which includes a potential sale.

A club statement reads: 'Manchester United plc (NYSE:MANU), one of the most successful and historic sports clubs in the world, announces today that the Company's Board of Directors (the 'Board') is commencing a process to explore strategic alternatives for the club.

'The process is designed to enhance the club's future growth, with the ultimate goal of positioning the club to capitalize on opportunities both on the pitch and commercially.

'As part of this process, the Board will consider all strategic alternatives, including new investment into the club, a sale, or other transactions involving the Company. This will include an assessment of several initiatives to strengthen the club, including stadium and infrastructure redevelopment, and expansion of the club's commercial operations on a global scale, each in the context of enhancing the long-term success of the club's men's, women's and academy teams, and bringing benefits to fans and other stakeholders.'

Joel and Avram Glazer also added: 'The strength of Manchester United rests on the passion and loyalty of our global community of 1.1 billion fans and followers. As we seek to continue building on the Club's history of success, the Board has authorized a thorough evaluation of strategic alternatives. We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the Club today and in the future. Throughout this process we will remain fully focused on serving the best interests of our fans, shareholders, and various stakeholders.'


The Glazers have confirmed they are ready to sell Manchester United after 17 years at the club. The US tycoons have been deeply unpopular figures at Old Trafford for a number of years. Now they appear to be eyeing an exit after confirming they would be open to a potential sale. That would come as music to the ears of United fans who have long protested against them

United's statement then concluded: 'The Raine Group is acting as the Company's exclusive financial advisor and Latham & Watkins LLP is legal counsel to the Company.

'Rothschild and Co. is acting as exclusive financial advisor to the Glazer family shareholders.

'There can be no assurance that the review being undertaken will result in any transaction involving the Company. Manchester United does not intend to make further announcements regarding the review unless and until the Board has approved a specific transaction or other course of action requiring a formal announcement.'

The Glazers have been in power at United for 17 years since a leveraged £790million buyout in 2005, but their ownership has proved a deeply unpopular one for a number of years.

Protests spiralled out of control when the club signed up to the now-doomed European Super League last year, with fans invading the pitch at Old Trafford to call for their US owners to depart.

Now they look to have finally got their wish, as it is understood the Glazers will listen to offers in excess of £5billion but may demand as much as £9bn.

Code:
https://www.dailymail.co.uk/sport/sportsnews/article-11459169/Manchester-United-confirm-Glazers-prepared-sell-club-17-years-Old-Trafford.html
menyusul Liverpool, akhirnya Manchester United ikut dijual juga oleh keluarga Glazers. keluarga Glazer juga sudah meraup keuntungan selama 17 tahun setelah membeli Manchester United dan berpikir inilah saatnya untuk menjual Manchester United, terlebih CR juga akan pergi dan mungkin sponsor-sponsor juga akan ada yg cabut seiring dengan kepergian CR
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Old 09-12-2022, 08:29 AM   #32
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Default Re: Malcolm Glazer & Family

The Glazer family haven't taken a dividend from Manchester United for the first time in SIX YEARS, first quarter financial results reveal, while the club's revenues rise by 13.6% as they remain up for sale

* Manchester United released their first quarter financial results on Thursday
* The Glazer family didn't take a dividend out for the first time since 2016
* They put the club up for sale last month following their 17-year reign in charge
* The Glazers were criticised for taking an £11million dividend out in June 2022
* United's board of directors did not approve the latest semi-annual payment


Manchester United's first quarter financial results that were released on Thursday show that the Glazer family have not taken a dividend for the first time since 2016 after putting the club up for sale.

The owners were criticised for taking an £11million dividend out of the club in June, but the board of directors, which is mostly made up of the six Glazer siblings, did not approve the latest semi-annual payment to shareholders.

The figures show that United’s revenues rose by 13.6 per cent and the club is on target to make between £590m and £610m for the whole year, although it has made a pre-tax loss of £2.5m-a-week for the first quarter of 2022-23.

The decision from United's board of directors has been labelled an economic one, according to The Athletic - with factors highlighted including the transfer spend of more than £200m in the summer - this covered the signings of players such as Antony, Casemiro, Lisandro Martinez and Tyrell Malacia.

The quarterly results also revealed that the club's cash levels had reduced by £96.9m, again mainly due to the summer spending, meaning a further drawdown on credit facilities was required.

Manchester United Supporters Trust welcomed the news regarding dividends in a statement on Thursday evening.

They said: 'Tonight Manchester United announced, as part of the quarterly earnings report, that in a break with established precedent, it will not be paying a dividend to shareholders for the first time since dividends commenced in 2015.

'MUST has raised the issue of dividends, at the highest levels of the club, and increasingly so in recent times.

'Indeed the Fan Advisory Board on which MUST holds two places was set up specifically to facilitate open dialogue on strategic issues such as this. The MUST representative on the Fans Forum also raised objections to the dividend policy in its most recent meeting as recorded in the minutes here.

'We are glad that, while the dividend issue has dragged on for far too long, we have finally got to the right position.

'Certainly dividends should not be paid when the football club is not achieving success on the pitch, challenging for top honours. That is rewarding failure and removes the incentive for the owners to ensure sufficient reinvestment of profits back into the football club.

'Our view is that no further dividends should be paid while new investment and ownership remain unresolved.

'Progress on issues like this can be slow, as we saw with the removal of the compulsory Automatic Cup Scheme or the installation of safe standing/rail seats, to quote two other examples in recent years. However it demonstrates that direct dialogue with the club does deliver results, if we are sufficiently persistent. You could say it pays dividends in the end.'

The board of directors decision to not approve dividends comes after Joel Glazer had been questioned on the issue during a United fan advisory board meeting in October.


The Glazer family didn't take a dividend out of Manchester United for the first time since 2016. United's first quarter financial results also revealed the club's revenues rose by 13.6 per cent. The Glazers' highly-controversial 17-year reign has been marred by protests from United fans. The American owners of Man United announced last month they were open to selling the club. Their reign has been dominated by a decline in United's on-pitch performance and success

Glazer had been questioned on why the owners took £11million worth of dividends out of the club in June despite the club undergoing their worst season in Premier League history. Similarly, United as a company also had made a £115.5m loss.

Across the whole 2021-22 season, £33.6m worth of dividends were taken out of the club, with the American owners taking most of the money due to being the largest shareholders.

This caused even more controversy as, at the same time, the Red Devils had drawn down an extra £40m on available overdrafts, thereby increasing further debts on the club.

United's much-hated American owners have been a source of contention at Old Trafford ever since they became majority owners in 2005, facing significant fan anger and backlash.

After taking over the club through a leveraged £790million buyout which heaped a huge debt on United, including placing £525million worth of loans onto the brand of the club, they racked up United's debts to £495m by the end of 2021.

Their failed attempt to kickstart the European Super League only fuelled more fan protests outside the walls of Old Trafford.

They have come under pressure from fan groups for some time to end their 17-year reign with the family announcing last month they are open to selling the club.

United confirmed the sensational news that the world's biggest football team is effectively for sale and that the Glazers would be willing to listen to offers in excess of £5billion.

The Raine Group and Rothschild and Co were appointed as exclusive financial advisors to oversee the process. United said the process of a sale was designed to enhance future growth, but added that the club 'will consider all strategic alternatives, including new investment into the club, a sale, or other transactions'.

A statement from co-chairmen Avram and Joel Glazer at the time read: 'The strength of Manchester United rests on the passion and loyalty of our global community of 1.1bn fans and followers.

'As we seek to continue building on the club's history of success, the board has authorised a thorough evaluation of strategic alternatives.

'We will evaluate all options to ensure that we best serve our fans and that Manchester United maximizes the significant growth opportunities available to the club today and in the future.'

The Americans revealed last month that they would sell the club for no less than £5billion. By comparison, Chelsea's Todd Boehly-led consortium took over at Stamford Bridge last summer for £4.25bn.

Overall, the Glazers have taken more than £1bn out of United in the form of dividends, interests, costs and fees during their 17-year-reign, which has been dominated by a decline in on-pitch performance and success.

The Red Devils have now not won the Premier League for almost 10 years, while they have failed to finish in the top four in five of the past nine seasons.

Code:
https://www.dailymail.co.uk/sport/football/article-11518987/The-Glazer-family-havent-taken-dividend-Manchester-United-TIME-2016.html
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Old 19-12-2022, 10:41 AM   #33
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Default Re: Malcolm Glazer & Family

Manchester United co-owner Avram Glazer 'holds talks with potential investors from Saudi Arabia and Qatar' while attending the 2022 World Cup

* Avram Glazer is said to have held talks with investors from Saudi and Qatar
* Discussions began during the 62-year-old's trip to Doha for the World Cup
* The Glazer family announced their plans to 'explore strategic alternatives'
* Therefore, their highly-controversial 17-year reign could be brought to an end


Manchester United co-owner Avram Glazer is said to have held talks with potential investors from Saudi Arabia and Qatar during the 2022 World Cup.

The Glazer family announced their plans to 'explore strategic alternatives' and consider all options, including 'new investment into the club, a sale, or other transactions' on November 22.

Therefore, Glazer is said to have started discussing the potential sale of United with a series of potentially interested parties during his trip to Doha for the 2022 World Cup.

Discussions began during the 62-year-old's trip to Doha, according to The Athletic. However, the nature of those discuss has not yet been disclosed.

Glazer told The Athletic that the sale process was 'going forwards' during his trip to Qatar's capital for the 2022 World Cup.

Speaking after France's semi-final clash with Morocco, he said: 'It's not necessarily a sale, it's a process and we're going forward with the process.

'So we'll see what happens. That's the update, it's the process and the process is proceeding.'


Avram Glazer held talks with investors from Saudi Arabia and Qatar during the World Cup. The Glazer family announced their plans to 'explore strategic alternatives' and consider all options, including 'new investment into the club, a sale, or other transactions' in November. The Glazer have been in power at Old Trafford since 2005 but have faced criticism. They have been been criticised from the outset over the leveraged £790million purchase which heaped huge debt on United

This is not the first time the Premier League giants and a Saudi investor have been linked together.

However, ties appear to be strengthening as Glazer also bought a cricket franchise in United Arab Emirates’ T20 cricket league.

Additionally, Saudi Arabia sports minister Prince Abdulaziz bin Turki Al-Faisal has thrown his support behind a potential investment from one of his compatriots.

When asked about a potential investment, Prince Turki told Sky News: 'I hope so, if there are investors and the numbers add up, and it makes a good business.

'Then the private sector could come in, or companies could come in, from the kingdom.

'The Premier League is the best league in the world. Everyone's watching the Premier League. It's the most watched league and there are diehard fans of these teams in the kingdom. So it would be a benefit for everyone.'

The Glazer family announced their decision to invite outside investment or sell completely on November 2022. The posted a 333-word statement to update the fans.

The statement said the club's board was 'commencing a process to explore strategic alternatives for the club…. To enhance the club's future growth.'

The next paragraph explicitly said the Glazers would consider all options, including 'new investment into the club, a sale, or other transactions.'

The statement also outlined that Raine Group, a New York-based merchant bank, had been appointed as United's 'exclusive financial advisor.'

Glazer spoke out publicly about the sale of Manchester United on November 24 after being confronted by a Sky News reporter in Palm Beach, Florida.

When asked why now was the right time for the potential sale of United, Glazer said: 'As we announced yesterday, the board went through a process and it has decided it is going to look at different strategic alternatives and that's what we're doing.'

When it was put to Glazer that most United fans feel his family should have sold the club years ago, he answered: 'Once again, we are going through a process, we will look at all different strategic alternatives and we will see where it leads us.'

Glazer shutdown any potential follow-up questions by adding: 'I appreciate you talking to me tonight and I'm going to wish everyone a happy Thanksgiving.'

The hated American owners have been in power at Old Trafford since 2005. However, they have come under pressure from fan groups for some time to end their 17-year reign.

They have been been criticised from the outset over the leveraged £790million purchase which heaped huge debt on United.

It's thought that an offer in excess of £5bn - and possibly as high as £9bn - would persuade them to sell up.

Code:
https://www.dailymail.co.uk/sport/football/article-11551119/Avram-Glazer-holds-talks-potential-investors-Saudi-Arabia-Qatar.html
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