- Oct 13, 2016
Nice to see TAA and van Dijk finally being found out for the average defenders they are. Long may it continue.
I'm sure the well balanced and reasonable folks over at RAWK are taking a long term view.
He's got 2 league goals and a red card to his name so far. Had we paid £85m for those early returns, everyone involved would be getting slaughtered.
If this sale goes ahead, it should pretty much set United's value for all to see. Not sure if this is a good thing as it might be more than regular billionaires (eg., SJR) are willing to pay. Conversely, it might remove any allusion that the Glazer's can get £6bn+ and they might take the money now or realize they need to invest in the infrastructure to increase United's value, like FSG did.
That's why I think the Liverpool sale will be instructive. According to the share price, as of Nov 4th, United were worth $2.13bn USD or £1.85bn. The Glazers don't even take calls at that price. Say, Liverpool goes for £4-ish bn and United are valued at £4.3-ish bn through an actual market comp. Considering they "acquired" the asset for nothing, and its now worth a good £2+ bn over share price, the pro-sale voices within the Glazer family will grow stronger.
Like FSG, the Glazers are into United for the cash. Yes, £20m per annum for doing nothing is lovely, but it'd take 50 years for them to accrue £1bn, let alone £4-ish bn, and if rumours are to be believed, the Glazers sans Joel, are keen to sell up and cash in. An actual market valuation at almost $5bn USD for an asset you didn't even pay for, and haven't invested in might hopefully be too tempting to pass up.
Af course, this is entirely speculative as Joel appears to be in control of the family and he shows no signs of wanting to sell, however, with the price of borrowing money increasing, and the inevitability of the costs to renovate OT and Carrington coming out of pocket, perhaps this is the time the family choose to cash in. Realistically, nobody knows, but if they are faced with the reality of a £4+bn profit and they turn it down, we're stuck with them for life.