MALCOLM GLAZER DEAD

[Walken]

some rich old american bell dead is he

 

[Librarian]

First Tina, now this
'sake

 

[rascal]

Football fans : damn

Genuine United fans: woohoo

lol

 

[larrygobfiend]

He had his whole life ahead of him...

 

[West]

Errrm theoretical question what happens to everton if kenwright carks it?

 

[RedYonkee]

R.I.P

Didn't realize he was 86.

 

[Bruce Wayne]

Probably pulled off one of the biggest heists of modern times. A quite incredible takeover of the biggest club in the world (commercially).

 

[WA Toffee]

Probably pulled off one of the biggest heists of modern times. A quite incredible takeover of the biggest club in the world (commercially).

I think the current RS owners have that title in the bag. The heist part, not the biggest club part

 

[Bruce Wayne]

I think the current RS owners have that title in the bag. The heist part, not the biggest club part

Oh I dunno, to buy an organization, then dump all the costs for buying said organization onto the organization itself is remarkable. I can't quite understand how they ever got away with it. £650 million that stunt has cost United.

 

[WA Toffee]

Oh I dunno, to buy an organization, then dump all the costs for buying said organization onto the organization itself is remarkable. I can't quite understand how they ever got away with it. £650 million that stunt has cost United.

It was an amazing move, and maybe my memory is clouded, but didn't RBS get a court order to force H&G to sell RS at a fraction of their asking price? And it turned out that they didn't use their own money either, the debt was loaded onto the club?

 

[Bruce Wayne]

It was an amazing move, and maybe my memory is clouded, but didn't RBS get a court order to force H&G to sell RS at a fraction of their asking price? And it turned out that they didn't use their own money either, the debt was loaded onto the club?

No idea to be honest. I had United shares back then so took an active interest. Don't follow what happens with the RS at all so their takeover passed me by completely.

 

[The Esk]

Oh I dunno, to buy an organization, then dump all the costs for buying said organization onto the organization itself is remarkable. I can't quite understand how they ever got away with it. £650 million that stunt has cost United.

As immoral as it may appear it is quite a common business practice - the murky world of corporate financing, non-disclosure, secrecy and tax avoidance.

If anything the blame lies with the Premier League for sanctioning such a deal, but then we know what their attitude to corporate governance is..

 

[Bruce Wayne]

As immoral as it may appear it is quite a common business practice - the murky world of corporate financing, non-disclosure, secrecy and tax avoidance.

If anything the blame lies with the Premier League for sanctioning such a deal, but then we know what their attitude to corporate governance is..

Really? That's amazing. Why would the selling organization ever agree to it?

 

[The Esk]

It was an amazing move, and maybe my memory is clouded, but didn't RBS get a court order to force H&G to sell RS at a fraction of their asking price? And it turned out that they didn't use their own money either, the debt was loaded onto the club?

RBS were forced to seek a mandatory injunction against H&G after H&G attempted to remove the independent Directors they had previously agreed to as a condition stopping Liverpool falling into administration. Extension of the RBS loan facility was contingent upon H&G giving up control and permitting the sale process (arranged by Barclays) through the independent Directors to the highest bidders NESV.

H&G tried to counter this in a Court in Dallas and persuaded the Court to issue an injunction, this action was subsequently over-turned the following day in London and the sale was completed.

 

[The Esk]

Really? That's amazing. Why would the selling organization ever agree to it?

Usually the selling party is not privy to how the takeover is financed - the Board of the Company being sold only has an obligation to the current shareholders. It could argue against the arrangements if known but ultimately it is the shareholders who decide to sell or not.