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Old 25-11-2022, 02:13 PM   #941
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Default Re: Manchester United - Biz, Financial news 'n rumors

Man United shirt sponsor TeamViewer 'is close to pulling OUT of £235m deal' after coming under pressure from investors... with decision to team up with Red Devils slammed as 'a sign of appalling judgement'

* Manchester United shirt sponsor TeamViewer 'are close to pulling out of deal'
* The technology company have 'come under increased pressure' from investors
* The £235million deal was branded 'appalling judgement' by firm Petrus Advisers
* United fans are planning to target club investors a a protest against the owners


Manchester United shirt sponsor TeamViewer could be set to pull the plug on their £235million deal with the club, according to reports.

The German technology company are reportedly coming under increasing pressure from investors to review their contract with United, with it being described as 'a sign of appalling judgement'.

But, according to The Telegraph, the £47million-a-year agreement could be set to end sooner rather than later following a stern letter from investors Petrus Advisers.

TeamViewer confirmed in August that they will not be renewing their current contract, which expires in 2026, but there are now fears they could look for a way out sooner.

TeamViewer's deal is United's second largest commercial contract - behind the £750m kit deal with adidas.

The company, who signed with United in 2021, specialise in remote access and remote control computer software and say 'the international awareness of the brand was clearly increased last year through the partnership'.

A TeamViewer statement, brought about after the warnings of London-based investment firm Petrus Advisers, added: 'Nevertheless, the company has decided to review its long-term marketing strategy in light of the current macro-economic environment.

'In addition, the company has already communicated its desire to explore opportunities to amend the existing contract.'


Manchester United shirt sponsor TeamViewer 'are close to pulling out of their £235m deal'. The five-year deal was branded 'a sign of appalling judgement' by investors Petrus Advisers. TeamViewer said 'the international awareness of the brand was clearly increased last year through the partnership'. Petrus Advisers, however, have said that they 'will not tolerate' the company's decision

London-based investment firm Petrus Advisers, who own a three per cent stake in the company, added: 'As active investors we will not tolerate that you spend ca. 1.4x your net profit or over €70million per year on sponsorship contracts with Manchester United and Mercedes Formula 1. You are not SAP, Oracle or Mercedes.'

It is believed that the share prices of TeamViewer have recently dipped.

The words from Petrus Advisers come amid stern protests from Untied fans aimed at the Glazer family, who own the club.

It is reported that fan groups are planning to turn their attention and protests to club sponsors as a means of trying to push the Glazers out the club.

Petrus Advisers' frustrations, however, appear to be aimed at TeamViewer themselves rather than United.

Code:
https://www.dailymail.co.uk/sport/football/article-11451781/Man-United-shirt-sponsor-TeamViewer-close-pulling-235m-deal-club.html
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Old 13-12-2022, 08:16 AM   #942
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Default Re: Manchester United - Biz, Financial news 'n rumors

Sources close to the Manchester United sale claim Amazon are a possible buyer for the club after the Glazers said they would consider a sale... but the City deems the £6-7billion asking price 'unrealistic'

* The Glazers confirmed last month that they would consider selling Man United
* A host of global companies have been linked with a purchase of the club
* Investment firm Raine Group are acting as United's exclusive financial advisors
* Raine Group reportedly want a full sale for £6-7bn in the first quarter of 2023


Amazon have become the latest company to be linked with buying Manchester United after the Glazers put the club on the market - but the asking price of around £7billion is believed to be unrealistic by industry experts.

United's controversial owners announced last month that they would consider selling the club in a sensational statement that said they had begun a process to 'explore strategic alternatives to enhance the club's growth'.

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

News that they would entertain a sale was greeted with delight among the club's fanbase, but there was also apprehension over who may come next.

Investment firm Raine Group were appointed as United's exclusive financial advisor for the process and are thought to want between £6bn and £7bn - a price those in the City of London say 'surpasses reality'.


Amazon are the latest global company to be linked with buying the Premier League giants. Billionaire Jeff Bezos is the founding chairman of Amazon, one of the world's largest companies

According to The Athletic, people close to the talks have cited Amazon, which holds broadcast rights for the Premier League after paying £30m-a-year, as a potential buyer.

Amazon will also show 17 first-pick Tuesday Champions League matches from 2024 in a deal worth a reported £1.5bn.

It is not clear whether regulations which ultimately prevented United being sold to BSkyB in 1999 could impact any move from the global company, however.

'Amazon declined to comment on rumour and speculation,' Amazon, founded by the billionaire Jeff Bezos, told The Athletic.

Other companies to be linked with United include Apple, which denied reports they were keen on buying the club, while Ineos chairman Sir Jim Ratcliffe - Britain's richest man - is also thought to be interested.

The Athletic also reports that experts in the City of London believe the £6bn-£7bn price tag is unrealistic.

Football Benchmark, a data and analytics platform which is an offshoot of accounting firm KPMG, has valued United at around £2.425bn.

The company's founder and chief executive Andrea Sartori said in a recent report: 'The gap between the rumoured transaction price and the theoretical value of Manchester United FC appears enormous.'


United fans have protested against the Glazers' ownership of the club since the 2005 takeover. The US tycoons have been deeply unpopular figures at Old Trafford for a number of years. The cost of building a new stadium for United reportedly concerned Joel and Avram Glazer. The Glazers appear to be eyeing an exit after confirming they would be open to a potential sale

Sir Michael Moritz, the billionaire who co-authored former United boss Sir Alex Ferguson's 2015 book 'Leading', wrote in The Times last month that the prices being bandied around for United were unrealistic.

It has also been reported that Joel and Avram Glazer, the executive co-chairmen of United, engaged in talks with US private equity firm Apollo over potentially buying out their siblings and not to sell a slice of the club.

Joel and Avram are also thought to have been taken aback by suggestions it could cost between £1.2bn and £1.6bn to build a completely new stadium instead of developing Old Trafford, which has long been in need of a significant upgrade.

United fans hoping to see the back of the Glazers quickly are expected to be disappointed as there is not the same urgency to get a sale completed as there was with Chelsea, a process also overseen by the Raine Group.

Chelsea eventually sold for £2.5bn to a consortium run by Todd Boehly after sanctions were placed on previous owner Roman Abramovich due to Russia's full-scale invasion of Ukraine.

Joe Ravitch, co-founder and partner of Raine, is leading the talks on behalf of the Glazers and the group are still aiming for a full sale of United in the 'first quarter of 2023' despite the complexity surrounding the process.

It comes after United released their latest financial figures which revealed the club is close to having debt of £1bn. The figures also showed that the Glazer family have not taken a dividend for the first time since 2016.

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 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.

The Athletic reports that some bidders will wait for United's financial situation to get worse before they throw their hat into the ring for the club.

The Manchester United Supporters Trust has called for fans to be engaged with the process to sell the club.

United fans have staged protests against the owners before matches and a group of supporters called The 1958 have also been targeting sponsors and other stakeholders with online campaigns.

Code:
https://www.dailymail.co.uk/sport/football/article-11529125/Amazon-linked-potential-purchase-Man-United-Glazers-said-consider-sale.html
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Old 16-12-2022, 08:34 AM   #943
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Default Re: Manchester United - Biz, Financial news 'n rumors

Manchester United are searching for a NEW shirt sponsor after agreeing to buy back the rights to their £235m deal with TeamViewer - but the German tech company's logo will remain on their kits until a replacement can be found

* Manchester United are reportedly searching for a new first team shirt sponsor
* Relationships with telecoms firm TeamViewer had deteriorated in the past year
* They partnered the Red Devils in 2021 in a whopping £235m contract until 2026
* United are hoping to find a new deal in a 'normalised' market after the pandemic


Manchester United will cut short their £235million deal with shirt sponsors Team Viewer after agreeing to buy back the rights to the deal.

Sportsmail exclusively revealed in August that Team Viewer had got cold feet over the five-year agreement only 18 months after it was announced in March 2021 and had already decided not to renew it in 2026.

The German technology company, who replaced Chevrolet on United’s shirts, had lost four fifths of its value amid concerns they had overstretched by committing to the £47m-a-year deal.

The two sides have now agreed an exit strategy with United confirming last night that they have ‘reached a mutually beneficial agreement under which Manchester United shall have the option to buy back the rights to the club’s shirt front sponsorship’.

The statement pointed out that the deal had been struck at the height of the pandemic with United now confident of agreeing an even better sponsorship in a ‘normalised market’.

Team Viewer will remain on United’s shirts until a replacement can be found and continue to be a global partner.


Man Utd searching for NEW shirt sponsor, agreeing to buy back rights to deal with TeamViewer. TeamViewer had got cold feet over the five-year deal only 18 months after it was announced. Man United are now looking to secure a new deal as the Glazer family also look to sell the club

The initial deal was signed during the COVID-19 pandemic, with TeamViewer negotiating a lower price than United's former sponsor, Chevrolet, with the football club accepting a £17m price reduction from the telecoms firm.

It now appears that the club, who are currently up for sale, are looking to get a deal in a more 'normalised market'.

The news comes as TeamViewer released a statement last month suggesting that the firm would be 'reviewing their long-term strategy' with the club.

Investment firm Petrus Advisers, who are believed to have a 3 percent stake in TeamViewer, had also claimed that the £235m deal was 'a sign of appalling judgement.'

It is an interesting development at a time when the club's owners, the Glazer family, announced last month that they were interested in selling the football team and had started to look for potential bidders after 17-years in control at the club.

Sources close to the club suggested earlier this week that ecommerce giant Amazon had been interested in bidding for Man United, despite the club's financial advisors, Raine Group, setting a whopping £7bn asking price.

Code:
https://www.dailymail.co.uk/sport/football/article-11543949/Man-Utd-searching-NEW-shirt-sponsor-agreeing-buy-rights-235m-deal-TeamViewer.html
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Old 25-01-2023, 08:53 AM   #944
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Default Re: Manchester United - Biz, Financial news 'n rumors

The Glazer family's search for investment in Man United is likely to result in a FULL sale - with the process set to move to a more formal stage in the next three to four weeks as Raine Group sound out potential buyers to rival Jim Ratcliffe

* The Glazers announced they were putting Man United up for sale in November
* The owners are open to an external party taking a stake or buying outright
* Those who have registered interest thus far would prefer to buy the club outright


Manchester United’s search for investment is likely to result in the full sale of the club, Sportsmail has learned.

Early indications – after the Premier League giants announced they were open to external parties taking a stake or buying outright – are that the latter is more appealing to those who have so-far registered an interest.

United’s American owners, the Glazer family, remain open to all options. With a huge, additional bill to either redevelop Old Trafford or build a brand new stadium, along with the prospect of a significant upgrade to the training ground, the costs involved will be vast.

Indeed, some have wondered if the sums involved may rule out new ownership - but that does not appear to be the case.

After November’s announcement, the situation remains in the early stages. Those who have expressed an interest and signed confidentiality clauses have been provided with access to the club’s financials.


The Glazer family first announced they were ready to sell Manchester United last November. A full sale is the most likely outcome, and the Glazers want up to £8bn before leaving the club. Sir Jim Ratcliffe announced last week that he has entered the race to buy Manchester United

It is understood that the matter, overseen by US merchant bankers Raine Group, will move to a more formal stage in the next three to four weeks.

It can, however, be disclosed that despite an expected price of between £6bn and £8bn, the noises so far point to the likelihood of a full takeover of United, rather than investment in exchange for a stake.

That news will no doubt be greeted by fans of the club, who have long protested against the Glazers’ controversial, debt-burdening 18-year reign. The toxicity that would be likely to remain should the Americans retain a controlling interest is another issue at play.

Last week, lifelong United fan and Britain’s richest man Jim Ratcliffe was the first to publicly declare that they had entered the race.

Ratcliffe’s Ineos company, however, faces substantial competition, with multiple parties already involved from the US and beyond.

It remains to be seen whether a sovereign wealth fund will launch a bid, although such a development would not be unexpected.

While the cost is hefty, United’s global appeal is seen as highly attractive. The view throughout the business world is that the club’s vast fanbase, which they say is in excess of one billion, remains relatively untapped.

The opportunity to monetise such support is a key selling point and was emphasised in Davos last week, where the club set up a luxury shop front to coincide with the World Economic Forum, which saw many of the planet’s super rich head to the upmarket Swiss ski resort.

Raine led the sale of Chelsea, which saw the London club go for £2.5bn, with a commitment to £1.75bn in further investment. That sum was deemed higher than anticipated by many and has played a role in United and rivals Liverpool exploring the market.

Manchester United declined to comment.

Code:
https://www.dailymail.co.uk/sport/football/article-11671623/Man-United-set-TAKEOVER-search-investment.html
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