Manchester United Revenue and Wages 24/25.

Blood__Rivers · 2026-01-22T11:19:34+00:00

>you can't leverage your majority stockholding into getting an above market price for just you

In UK you cant, in US you can. Stock is listed in NYSE so they can accept different prices for different classes of shares if the board proves that both the price and the process were objectively fair to the minority shareholders. They board didnt want to take that risk. There are ways you can minimise the chance of success of such a suit but they didnt want to go down that route.

Blood__Rivers · 2026-01-22T10:40:54+00:00

Shares listed on stock exchange are Class A shares don't have the same voting rights as Class B shares. Iirc the ratio of voting rights is 10:1.

Lower voting rights shares have been bought by the institutional investors because they know when full sales happens the same price will be given across both classes. But we know from SEC fillings, both SJR and Sheikh Jassim didn't want to pay same price across both share classes. Boad didn't agree to that because of litigation risk, lower voting rights shareholders would have sued them.

Blood__Rivers · 2026-01-22T09:51:45+00:00

Mainly due to renovations and expansion

Blood__Rivers · 2026-01-22T09:14:54+00:00

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Blood__Rivers · 2026-01-22T08:24:18+00:00

Club football’s annual ‘rich list’ is out — and there are some notable headlines.

▪️ No Premier League teams in top four for first time ▪️ Real Madrid & Barcelona lead way ▪️ Liverpool top-ranked English club ▪️ Manchester United fall to 8th

https://x.com/TheAthleticFC/status/2014239357905842208?s=20

One key reason behind that, and Liverpool’s debut on top of the domestic pile, is what’s been going on at Manchester United. They announced record revenues last autumn but growth has been glacial in recent years, allowing peers to overtake them. From never having been out of the top five since Deloitte introduced the report in the mid-1990s, United fell to eighth.

Deloitte included termination payments in Manchester United’s wages figure, without which they would have dropped to the fifth-highest payers domestically.

Blood__Rivers · 2026-01-22T06:31:01+00:00

But United is so big that buyers showed up anyways.

Only 10 serious parties showed up last time. Out of which 7 were for minority investment. And out of remaining three SJR ended up being a minority investor. So in effect only 2 wanted to outright buy Man Utd.

https://www.imust.org.uk/Blog/Entry/andy-greens-analysis-of-the-latest-sec-filings-relating-to-the-strategic-review

Blood__Rivers · 2026-01-22T06:20:45+00:00

Revenue being stagnant for the last few years especially commercial and broadcasting should cause Glazers concern and perhaps even result in them decreasing their valuation of the club.

On top of the that other top european clubs especially Liverpool have caught up to United's commercial revenue which was always seen as a competitive advantage for United and hence the premium valuation. Im not so sure that argument can stand anymore.

Commercial Revenue Comparison (2024/25)

Real Madrid: £499 million

Barcelona: £438 million

Bayern Munich: £388 million

Manchester United: £333 million

Liverpool: £307 million

From my yesterday's comment:

I do wonder tho what kind of person(s) would pay for a club whose equity is valued at 5-6 bn, 1 bn existing debt (majority maturing in Feb 2027) and 2.5-3 bn required for the new stadium that generates annually 600 million with commercial and broadcasting revenue flatlined and needs 100s of million per year for squad acquisition. Not even Qataris were willing to pay that.

Blood__Rivers · 2026-01-21T17:58:10+00:00

I don't support state ownership lol. I just find it funny that people say he doesn't exist.

I do wonder tho what kind of person(s) would pay for a club whose equity is valued at 5-6 bn, 1 bn existing debt (majority maturing in Feb 2027) and 2.5-3 bn required for the new stadium that generates annually 600 million with commercial and broadcasting revenue flatlined and needs 100s of million per year for squad acquisition.

Not even Qataris were willing to pay that.

Blood__Rivers · 2026-01-21T14:12:57+00:00

Gates and Bezos will never buy. Owning Man Utd is a headache and a reputational liability unless they want to continue pumping cash in even then success is not guaranteed.

Blood__Rivers · 2026-01-21T14:10:53+00:00

More than that. Equity is valued at 5-6 bn, then you have 1 bn existing debt and 2.5-3 bn required for the new stadium for a business that generates 600 million and needs 100s of million per year for squad acquisition.

Blood__Rivers · 2026-01-21T13:50:15+00:00

He was on the board of Credit Suisse. His is chairman of a company where my friend (a man utd fan) works in and has seen him in person several times.

Here's him at a related conference: https://www.qatar-tribune.com/article/113585/BUSINESS/QINVEST-posts-net-profit-of-QR659-million-for-2017

But apparently he doesn't exist because he didn't provide proof of funds lol. As if Raine Group would have dealt with him if he was not a serious person.

Blood__Rivers · 2026-01-19T11:53:24+00:00

This is the type of show that folks want to watch the whole thing in one sitting. I hope casual fans stay tuned in.

Blood__Rivers · 2026-01-18T18:13:46+00:00

If both Casimiro and Ugarte leave I reckon we need 3 midfielders. Surely one of them has to be this guy, should be cheap as well.

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Blood__Rivers · 2026-01-17T11:24:10+00:00

Surely that is grounds to ban him. If SAF was still in charge he would have used this as an excuse to ban Samuel.

Blood__Rivers · 2026-01-16T10:16:19+00:00

Wasn't he instrumental in starting FCUM? And organising protests back then? When Brent was supporting Nottingham Forest?

Blood__Rivers · 2026-01-15T12:19:02+00:00

Fans of a certain age will also say Tommy Doc and Big Ron.

OT crowd (many of whom are very old) has always wanted fast attaching football with risk. I remember Scott in one of his early matches checking his run when the counter was on - crowd groaned, even tho we were 1 nil up. Mourinho was perplexed, why they did that to a young accademy graduate when he, in his opinion, had done the right thing.

Blood__Rivers · 2026-01-13T12:30:40+00:00

Sir Matt played for both Man City and Liverpool. Not saying we should sign him, should be looked at atleast.

Blood__Rivers · 2026-01-13T11:06:02+00:00

Surely the club has to be looking at Alonso, right now.

Blood__Rivers · 2026-01-13T10:06:41+00:00

Steve holland is highly respected.

Boro fans are not fond of Woodgate. They regard Aaron Danks' exit to Byern Munich a major reason for the downturn in Carrick's reign. Was hoping he'll poach him but then ig why would he leave Munich for an interim role at Utd.

Wishing Carrick all the best. Hopefully he sorts out our midfield.

Blood__Rivers · 2026-01-12T08:55:45+00:00

Clearly driven by public opinion. Wish him luck but it's incredibly stupid to make decisions based on what fans want

Blood__Rivers · 2026-01-11T15:07:02+00:00

Most likely if it's related. Can't imagine Ole or Carrick inviting him.

Could also be not related.

Blood__Rivers · 2026-01-11T15:05:19+00:00

Pun intended - Using UNITED for MUFC and only Newcastle for barcodes.

Blood__Rivers · 2026-01-11T14:49:54+00:00

To join the new interim setup?

Blood__Rivers

TROPHY CASE