calamatis_

The news last night of the Qatari withdrawal leaves Manchester United on the brink of a minority investment. Can this really work and what impact will it have on a struggling organisation? It’s worth setting out my non-negotiables on a takeover of Manchester United that I made over a year ago.  1. A new sporting project  2. A new or redeveloped Old Trafford  3. A New training ground  4. Full redevelopment of the surrounding land to create a Manchester United World and amazing fan experience  5. Pay off the debt and stop taking dividends until the above is done I’m adding a 6th due to events in the last 2-3 years. 6. The club requires leadership that is statesmanlike on major issues that enables a fairer, more inclusive and diverse game. Leadership that builds a positive environment and culture whilst adhering to the clubs values and principles and one that is willing to make tough decisions to prevent an erosion in the clubs public image. How does a minority stakeholder positively impact the club to achieve the above? Can a minority shareholder have any impact on the above. It leaves more questions than answers. My preference is and always will be now for a Glazer family full exit. They have overstayed their welcome in Manchester yet seem oblivious to this fact. There is much up in the air but I threw down the following questions I’m sure fans would like answering? There will be lots more but here’s a starter for 16.. 1. What does the distribution of funds look like? Is all the cash being taken out of the club? 2. Which Glazers are going or is it a family dilution? 3. How does it impact the NYSE shareholders? 4. Does the executive stay the same? 5. Does the sporting side stay the same above the manager? 6. Who within the board has sporting control? 7. Are there future dilution clauses with the Glazer family in any deal you do as a minority shareholder? When are they? 8. We’re maxed out on the credit card and debt. How is this deal going to change the capital structure and financial issues the club has? 9. Is any further debt being placed on the club? 10. Is any debt being paid off? 11. How does this deal impact the board composition? 12. How does a minority shareholder impact the negative culture within the entire organisation? 13. Old Trafford is tired and is in need of significant redevelopment. How does this deal resolve this issue? 14. Will this deal allow the development of the training ground to its required standard? 15. Old Trafford requires significant investment on its surrounding land. Does this deal impact this requirement positively or does it leave it as a concrete wasteland? 16. How does a minority shareholder stop cultural decline across a whole organisation if the people who have overseen this decline still have a majority shareholding? Anyway here’s your Sunday post!