Amazingly, the greedy Glazers are going ahead with the New York Man United flotation

Despite the widespread doubts about price, viability, debt, dual-control share structure, and team performances under their tutelage, the Glazer family has decided to go ahead with the NYSE public offering of Man Utd stock…at $20 a share.

I posted last week about what New York thinks of the Glazers, and why the offering will be a flop. Since then, the cash-strapped cryogenic family has decided to go ahead anyway. It will make the Facebook disaster look like the launch of Apple.

I contacted a senior, close observer of the situation today, who offered this quote: “Anyone who invests in this should be taken away in a Yellow Van”.

This idiotic and desperate launch is not taking place for the good of United, but instead to bail out the hopelessly over-leveraged Glazer carpet baggers. Worse still, the flop will do irreparable damage to a Club already facing criticisms of being in decline after last season’s lack of big trophies and preponderance of indifferent team performances. And of course, all the brokerage and flotation fees will be dumped on the Reds….not the Guilty Glazers.

Fellow Red Devils, we need some more FUCM and Newton Heath moments to try and derail this cynical ploy. In the meantime, let’s get viral with this information, and ensure that those raping the Club realise they’ve been rumbled.

13 thoughts on “Amazingly, the greedy Glazers are going ahead with the New York Man United flotation

  1. “Anyone who invests in this should be taken away in a Yellow Van”.

    So that’s why Man U have done a sponsorship deal with DHL.

  2. Are the banks handling this once in a lifetime opportunity to lose your Chevrolet shirt also underwriting the issue, or is it an ‘open offer’( aka own goal)?

  3. They’ll not stop until ‘New Man U’ is making a humiliating debut in the 3rd division.

    Why would they care? Does a child shed any tears over his smashed up piggy bank, having extracted his stash of shiny pound coins and crinkly fivers?

  4. Come on there is as much bollocks in the premiership as there is in the Olympics, nothing represents the old metaphor “bread and circuses” better than these so called clubs. I like football but seriously if your going to support a Manchester team surely F.C. United of Manchester should be the one. You can buy a share and be part of running the club democratically for the good of the community. Saddens me a bit because it’s the only one I’m aware of in the U.K. and surely this is what it should be about? And surely more people should be seeing through this premiership nonsense which is used by Murdoch and owned by assorted Oligarchs. I know these loyalties run deep, but really?

    http://www.fc-utd.co.uk/m_waw.php

    • They’re looking like they might be the first of many.

      There’s a lot of “billionaires” set to lose a lot of their wealth in the next economic car-crash.

      A fire sale of their premiership toys could bring a painful dose of reality to professional football.

  5. I understand that the money raised from this sale of Stock will raise around £200 million which will then be spent on PLAYERS for the new season, with the intention of bringing home the silverware in all competitions.

    My banking circle have already offered to lend this piffling amount, but agreement could not be made on collateral requirements with the Club. We were offered a formal polite ‘no thank you’ and each given a Club Tie, with promisory notes for Manchester United Supporter Executive Tickets to all the Cup Finals in the coming Season for my associates and our wives. ( My wife Rosemary is a keen supporter by co-incidence).

    Accordingly we have issued a ‘ BUY note’ for this Stock, having already filled our boots as is the custom in our trade.

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  8. It isn’t often that I get worked up over football, but comments in our local paper last year provoked my responses as follows. The same description probably applies to MUFC and most other Premier League clubs:-

    “from Kennyboy” “to moaning Bolton fans”
    Here’s a couple of easy questions for the fans.

    1. How many of Bolton Wanderers’ current team were born in the Bolton area?

    2. Does the manager originate from Bolton?

    3. Why does anyone care about how this team and its manager, with no discernible links to Bolton, get on?

    Kennyboy

    Ok, here’s a few more easy questions for “Bolton???” Wanderers fans:-

    1. When the new stadium was built, many people wanted it named after that rare bird…a Bolton-related player (Nat Lofthouse). It was eventually named after a US corporation. Why?

    2. How many of Bolton’s current team live in Bolton?

    3. At the Bolton Wanderers shop, how much of the merchandise is actually made in Bolton?

    Kennyboy
    _________________
    “Anonymous response”
    Are you a mental Kennyboy?

    “@Kennyboy”
    well, in answer to your question, here’s a few comments.

    Here’s a team (and I use the word advisedly) that has no connection to Bolton other than attending their place of business for an hour-and-a-half, approximately 20 times per year. The manager isn’t a Boltonian. The stadium is named after a US corporation and the shop sells trivia, none of which is made in Bolton and some of it manufactured for peanuts in some third-world sweatshop and then sold at huge prices.

    The fans talk about the club using the terms “us” and “we”…as in “we were awful” or “we should buy some new players”….as if they were board members or directors and they pay big money to go see this multi-national squad of high-earning low-performing non-doms and then these fans get upset and feel miserable for days when these “businessmen” (for that’s what they are) lose.

    And you ask me if I’m mental ???
    Kennyboy

  9. Man U, or more precisely the Glaziers are to sell shares to raise a reported $330 million (rather less than the $1 billion they dreamed of raising in Singapore) Zerohedge has good piece on it, 1/8/2012 (UK date).

    I wonder how much after fees and the Glaziers get their ‘fair share’ the theatre of dreams will have to play with?

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