Finance

Manchester United Takeover: Glazers under intense pressure to sell

Published

4 weeks ago

September 6, 2023

SMI

The Theatre of Dreams finds itself amidst whispers of a takeover, tangled in a web of high financial stakes and passionate football dreams. As reported by Daily Mail, the plot thickens for the English giant.

Manchester United’s stock took a staggering 21% dip on the New York Stock Exchange, following revelations that the Glazers might abandon their plans to sell. Despite the turbulence, insiders have suggested that the essence of the deal remains unaltered.

The Glazers, who assumed control in 2005, had previously hinted at potential investment ventures, even considering relinquishing full ownership of the club. Yet, almost a year later, the American family remains at the helm, much to the chagrin of a vocal fraction of the Red Devils’ faithful.

Two prominent figures emerge in this narrative – Qatar’s Sheikh Jassim and British tycoon Sir Jim Ratcliffe. Representatives from both camps have dispelled rumours of the sale’s cancellation, affirming that they’ve received no official word on such a decision.

Indeed, the discussions persist. The two offers, both hovering around the £5bn mark, unfortunately fall short of the Glazers’ valuation. The ongoing dialogue now seeks to bridge this considerable fiscal chasm.

Gary Neville, a name synonymous with Manchester United, hasn’t minced words in his critique of the club’s ownership. Following a 3-1 defeat against Arsenal, Neville lambasted the Glazers, comparing their handling of the prestigious club to mere child’s play.

“It’s just a game for them, they think it’s a toy!,” Neville asserted on his Sky podcast. He also expressed his certainty regarding the Glazers’ eventual sale due to financial pressures.

Pointing out the club’s struggles in the transfer market, despite its vast revenues, Neville contrasts United’s position with the likes of Chelsea and Arsenal. The root, he suggests, might be the club’s financial constraints, exacerbated perhaps by the recent pandemic. Regardless, for Neville and countless supporters, the overarching issue remains – the custodianship of one of the world’s foremost footballing institutions.

The last decade has been tumultuous for the Red Devils. Once the pinnacle of English football, recent years have seen a dip in their fortunes. Many fans attribute this decline to the Glazers, condemning their perceived lack of investment, both in playing personnel and critical infrastructure. Such sentiments have manifested in palpable frustrations, with Old Trafford, a symbol of the club’s illustrious history, crying out for modernisation.

Interestingly, Mail Sport highlighted a crucial moment when Sheikh Jassim’s team sidestepped US bankers, Raine, entrusted with the sale last year. They chose to approach the Glazers directly, though to no avail.

Speculation suggests that the Glazers’ current hesitation might be strategic. By potentially pulling United off the market now, they might be playing the long game, hoping for a more favourable climate and a broader pool of bidders come 2025.

In the end, amidst the whirlwind of financial negotiations, bids, and speculations, one thing remains certain – the undying passion of Manchester United’s supporters, yearning for a future that mirrors the club’s decorated past.

Finance

Record-breaking Lamine Yamal now worth €1 billion at 16 years of age

Published

1 day ago

October 2, 2023

SMI

Lamine Yamal is now worth €1 billion (£866m/$1bn) at just 16 years of age, with Barcelona inserting a huge release clause in his new contract.

The talented teenager, who has continued to rewrite the record books at Camp Nou and with the Spain national team, has committed to fresh terms through to 2026. Barca have moved to ensure that they will remain the ones to benefit from Yamal’s undoubted potential.

Barca have said on the club’s official website: “Lamine Yamal has whizzed up through the youth ranks and is regarded as one of the hottest properties to come out of La Masia in recent years.

He was just 15 years, 9 months and 16 days old when he made his league debut against Betis on 29 April 2023, making him the youngest player ever to appear in a competitive fixture for the team. Xavi Hernandez has gradually been using his services more and more, and after joining the squad for its preseason tour, he become the youngest ever starter for FC Barcelona in a game against Cadiz this season, and against Royal Antwerp he became the second youngest player ever to appear in the competition.

And despite his youth, he has already won his first international cap for Spain. In a game against Georgia he not only became the youngest player ever to play for ‘La Roja’, but also the youngest ever goalscorer.”

Yamal is following in some illustrious footsteps after stepping out of the famed La Masia academy system – with fellow graduates including Lionel Messi, Xavi, Andres Iniesta, Sergio Busquets, Carles Puyol and Pep Guardiola.

Barca have made a habit of tying hot prospects to deals with mammoth release clauses – having had their fingers burned when Paris Saint-Germain triggered a €222m (£192m/$234m) option on Neymar’s contract back in 2017 – with similar terms having been thrashed out with the likes of Ansu Faiti, Pedri and Gavi.

Finance

Sports Ministry Will Prioritise Funding For All Sports – Minister Enoh

Published

6 days ago

September 28, 2023

SMI

The Honourable Minister of Sports Development, Senator John Owan Enoh has reiterated that his administration prioritizes the funding of sports in the country, as the Ministry will work with all sports federations to determine focus areas, through budgetary submissions.

The Minister made this known during a briefing with pressmen in Asaba, the host city of the 7th National Youth Games. He stated that his experience in this area, while serving as the Chairman of the House Committee on Appropriation (Federal House of Representatives) led him to proactively direct on the necessary steps to take for the proper funding of sports in the country.

“The only way to provide for the proper funding of sports is to look at the number of federations, an itemization of their peculiar activities, and to provide as needed,” Senator Enoh said. “For example, if in 2024, a particular sport will undertake pieces of training, and participate in competitions (both local and international), the only way to solve the incident problem of lack of funds, athletes missing out on competitions because of finances, is to provide for all of these ahead of time,” he added.

“As much as possible, I am going to push for this to be done, because it is the only way that we can properly budget for sports development. The ministry is desirous of making credible progress in this regard,” The Honourable Minister concluded.

Finance

Man United fans fly ‘Glazers Out’ banner over Tampa NFL stadium

Published

1 week ago

September 26, 2023

SMI

Man United fans fly 'Glazers Out' banner over Tampa NFL stadium

A group of Manchester United supporters based in the United States have flown a banner reading “Glazers Out” over the Raymond James Stadium in Florida.

The banner was seen over the stadium ahead of the Monday Night Football game between the Philadelphia Eagles and the Tampa Bay Buccaneers — the NFL franchise owned by the Glazer family, who also own Premier League giants United.

The banner was organised by Manchester United supporters groups based in Pittsburgh and Tampa. Footage of the plane and its message was shared online before the match, which the Eagles won 25-11.

The move is the latest protest against United’s owners by fans who are keen for them to sell the club.

The Glazer family, who have owned United since 2005, announced last November they were considering “all strategic alternatives, including new investment into the club, a sale, or other transactions.”

This led to bids being lodged by prospective buyers, but despite receiving several offers, the Glazer family are still yet to make a final decision on whether to sell their stake in the club.

United have failed to win the Premier League since legendary former manager Sir Alex Ferguson retired in 2013, with their last Champions League success coming in 2008.

Former Ajax boss Erik ten Hag was appointed as the club’s new head coach last year. United won the Carabao Cup in Ten Hag’s first season in charge and reached the FA Cup final while securing Champions League football with a third-place finish in the league.

However, United have endured a difficult start to the new season, losing three out of their first six Premier League games.

The United manager’s problems have been exacerbated by several off-field issues.

Brazil winger Antony has agreed to a leave of absence from the club in order to address accusations of abuse made by three women, while fellow winger Jadon Sancho is training away from the first team group following a public spat with the Dutch head coach.

Forward Marcus Rashford walked away unhurt after being involved in a car crash following United’s 1-0 win over Burnley on Saturday.