What are INEOS Doing at Manchester United?
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- Опубліковано 25 вер 2024
- Andy Mitten is at Old Trafford to talk about INEOS, what are they doing so far during their takeover of Manchester United?
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INEOS’ Sir Jim Ratcliffe is co-owner of Manchester United with a minority investment in the club and sporting control. Big changes are happening behind the scenes at the club on the football side, but also throughout all departments as has been illustrated by press reports on emails sent by Sir Jim Ratcliffe to staff. Let us know what you think in the comments below...
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Andy Mitten is at Old Trafford to talk about INEOS
What are they doing so far during their takeover of Manchester United?
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ANDY WE ARE ABOUT TO GO INTO FREEFALL! RING THE ALARMBELLS PLEASE ERIK IS NOT THE PROBLEM OUR BROKEN PLAYERS ARE! CLEARLY!!! HOW MANY MANAGERS ARE WE GOING TO BLAME FOR OUR WEAK PLAYERS' SHORTCOMINGS?
WHY dont you stop moaning and just telling those who are in charge what they should or could do... AND actually get pro-active and change it. 150,000 fans paying 16k each = 2.4 billion pounds= 50per cent shareholding.. seeing as ratcliffe got 25percent at 1.2 billion
Would love to see a video of your opinion about the negative press United gets from other journalists and pundits.
For me they do it divide us because they want our downfall
Can't settle the debt. Can't get a CEO or DOF in before summer. We have limited funds for transfers. Need to bumb money off the government to build a staduim. So if he is the richest man in England sureley he could settle all the debt and paid for the stadium in his own.
@@roydonfrost5460so a guy who's a shrewd business man must come in with only 25% - 27% share and pay for all the sins of the arrogant, greedy Americans who own majority of the shares? That would be a stupid way to invest!
Mitten is the only outlet I pay attention to for credible Club news!He does not do crap journalism for clicks!
Well how many other journalists tied to United have their own UA-cam channel ? All other channels only reports the news out there surrounding the club and there is plenty as we all know…
Agree, he doesn’t do click bait and too much speculation. Also unlike other United content creators who bitch and moan and are extremely negative towards the manager and the players, Mitten is always balanced on his criticism of the club, the structure, the manager and the players. So for me Mitten is the best, I would also make an exception for United Peoples, and sometimes Steve Howsen who both offer some great insights
@goalsforgeorge9096......totally agree! It's truly refreshing to hear Andy's lucid and informative analysis as it is not delivered in a profanity-strewn tirade. Like you, I have now subscribed to Andy's channel after deciding to give my poor ears a rest from relentlessly unprofessional yobs like 'Mr' Howson.
Me too pal. Andy knows the score. Many sources he’s got. Top lad.
@@Sanctified57 I can't stand any of the rest anymore. Not Howson, United People's is not always too bad. United We Stand is proper Manchester United content not just tabloid style nonsense or silly bickering
Andy Mitten is the only reporter/outlet that is worthy for Man Utd. Very professional and I only have applause for his work 👏
The rise & rise of Mr Mitten. The credible voice. Cutting through the crap. Thank you.
Hear hear!
He is a trusted voice of the fans.
Agree, he doesn’t do click bait and too much speculation. Also unlike other United content creators who bitch and moan and are extremely negative towards the manager and the players, Mitten is always balanced on his criticism of the club, the structure, the manager and the players. So for me Mitten is the best, I would also make an exception for United Peoples, and sometimes Steve Howsen who both offer some great insights
💩
Glazers still at the club which is a huge problem. They’ve destroyed this football club.
Huge debts/loans coming up which Paras.tes cannot pay, so Ratcliffe can acquire more shares by = Debt to acquisition.
Yeah, let's scrap the deal and go back to 100% Glazer ownership!
At least you’ve got Dan Ashworth 😂
Fergie supported these parasites and is on the Glazer gravy train but no one seems to talk about it
@@richardwillford2418maybe it will make no difference only time will tell
Andy Mitten is the Gold Standard of journalism. Thank you Andy for being a voice of reason.
Thanks, Andy, the voice of reason, no crap! 👍
Great piece, thank you to Andy. There's so much noise from clueless UA-camrs so it's nice to get some informed and sober analysis.
Sir Jim and Ineos have a massive task ahead of them, I wish them well and turning the Club around will not be easy or quick.
There are no quick fixes, it will be several years before we are seriously challenging for Trophies
Ofc! Arsenal started in 2019, and started competing in 2022. I hope ineos dont listen to plastics and stick to a plan, even if some misteps are bound to happen.
we won a trophy one week after you commented. How incredibly amazing. Especially after a disaster season. Football bloody hell
More of these sort of videos please Andy. Love the post match stuff but you filter out the noise around the club exceptionally well. Fans are crying out for the kind of clarity you're providing here
Brillaint as per usual, Andy. No nonsense, just facts as you know them.
Great video. Social media and the media in general do love an overreaction to a lot of stuff regarding our club, it's just nice to see a channel that cuts out all that noise.
Mittens the guy as always, keep knocking on that door pal, Jim would do well to do a piece with you
I never like or subscribe to videos, but the work that Andy and his team are doing, deserves a lot of recognition. So much dedication and passion towards the well-being of our club
I just found this channel . Wow refreshing after watching and listening to TUS for years. Andy knows his stuff.
WTF!!! I didn't even know this UA-cam chanel existed. Where have you been all my life!
Thank you Andy.
GLAZERS OUT!
#LUHG #MUFC
why do you think the glaziers have handed the running over to sir JIm because going forward if it all goes wrong they will say nothing to do with us... plus they ahve just pocketed 1.25billion for selling their shares to ineos
Thanks Andy! Lot of nonsense gets thrown around about our club because it gets clicks and makes headlines. Always appreciate your upfront reporting, accepting that some things we just don't know yet.
The voice of reason in all this chaos that's MUFC. Hopefully soon we'll finally get some stability. Upturns in MUFC form won't happen overnight, i believe Jim statement within 3 years we'll be back challenging for major honours
How refreshing to see some quality journalism about Man Utd. Thanks Andy.
This is the only Man Utd UA-cam channel I listen to and afterwards I feel refreshed and encouraged, rather than feeling toxic.
Thank you Andy for incredible contents about Man Utd ❤. They are mental therapy for us in the current disastrous times for United.
Oh Andy Mitten's fucking magic, he wears a magic hat!
Andy mitten my favourite journalist
The Dan Ashworth email debacle is absolute gold 🤣🤣🤣
You noticed NON of them are talking about it 😂😂😂😂😂
@@johnw7409UnitedPeopletv did a video about it
The Dan Ashworth stuff in the press hardly makes me think that ineos are doing anything better than their partners so far. Nothing seems to run smoothly.
To be fair to INEOS and SJR, it will take time to turn the ship around and make the changes they want. United is a nest of chaos led by owners who haven't cared for 20 years and a drama filled dressing room. A few months in charge isn't going to fix that.
You want smooth running after the years of decay?
Does United not have fans with any real world experience of managing anything?
Newcastle are the one feeding their journalist about Ashworth. Nothing has come from the United side of journalists. Ineos cannot do anything about that can they?
That wasn't Ineos, but Ashworth and Berrada stuffing up. How anyone can make such a dumb mistake with an email is unbelievable when they knew they were doing the wrong thing.
Do you realize how badly run this club has been since 2005?! No matter how skeptical one can be, give the poor bastards more than 6 months before writing them off. Jesus!
Brilliant Andy, regrettably the club is in such a chaotic state due to Glazer neglect this will decidedly take a few years. Just hope Sir Jim is in it for the long run.
Cheers . Great information from behind the scenes at Old Trafford .
Nice review. Unfortunately I have zero confidence in INEOS. As far as I’m concerned they are responsible for keeping the Glazers at this club and continuing our demise. I will never forget nor forgive them for that 😤
EXCELLENT question, the one and only that needed to be asked right now
Nice video Andy. You do great work. United 🇾🇪
Good presentation, very clear thoughts. Patience is the keyword, and potential issue.
And there in lyes the problem glaziers out!
Massive respect to Andy mitten, #ClassAct
Thanks Andy, another excellent video 👍. UTFR!
After City, Ten Hag was first up the podium. Having shook the hand of Price William and wee George. The next was Jim Radcliffe, who purposely turned to Alex Ferguson and totally 'Blanked' Ten. It was blatantly obvious and damn rude. He even hugged all the other players that followed. I have no idea what's happening, but a few of my United friends saw it and pointed out that it was edited out on Match of the Day. Today, he thanked all the players and the backroom staff whilst ignoring Ten Hag's achievements, just no mention. It seems strange; it really put me off, big Jim; but I sincerely hope that he's a better man than that!
As an American, I at every opportunity apologize to the good people of Manchester for the Glazers, our bad, you deserve better than what we sent you, and we all collectively need to apologize for sending our problems over to you. OK, done a good thing today, I am proud of myself, moving on now.
Thanks Andy. I don't see him doing this just to line the Glazers pockets. Wasn't there a 19 month deadline for 100% offers from outside investors that had to be matched or am I imagining that? I think he sees this as his legacy (looks far better than a Chemical company) so I'd guess he'll be wanting to take full control at some point.
Ratcliffe will not want to be remembered as a lapdog for paras.tes, so I imagine he will have a plan to oust them when the opportunity arrives.
Yes, it's in the contract.
There's drag along rights that kick in after 18 months. These protect the interests of the Glazers and the A shareholders. Because SJR has such a big shareholding he has the ability to block a hypothetical full sale to a third party, so that's why the drag along rights are there.
And there's also tag along rights (which the twitterati didn't pick up on) that protect the interests of SJR. This means that, notwithstanding a full sale to a third party, the Glazers cannot sell any of their shares to anybody else without first offering them to SJR.
In effect, these tag along and drag along rights are put/call options in drag. I expect that within 18 months SJR will have bought more Glazer shares and will have majority ownership.
If it wasn't for the problem with the A shareholders and the independent board members and legal counsel determining that they had to be given equal consideration, then SJR would already have all the Glazers shares.
I think people vastly overestimate the value Jimmy puts on 'legacy'. He's a ruthless businessman first & foremost. He's shown he doesn't care what the public think when he backed brexit & other tory policies before ditching the country to move to tax free Monaco. Also said he'd build his Granadier car factory in UK only to build it in France. Same bloke living in Monaco now is launching a politicians pr campaign for taxpayers funds for the new Old Trafford...a club owned by 8 different billioanries. Forgive me for being wary. I've followed Jim closely since 2019 when he became involved in Mercedes F1...lot's of red flags.
@@creepingbrain This is what I was alluding to, albeit not in the proper technical terms that you have used, thank you for the consice explanation!
Andy I wish all the journalists would pass comment on ETH after the cup final.
I find it difficult to see 4 managers in line to replace Eric and its cup final week.
Key steps keep moving forward VIVA Manchester !
Thanks for the detailed info, from my understanding they messed it up at FC-Lausanne as a first experience in football, even at Nice they did make some mistakes it’s not easy going running football clubs.
I hope the Dan Asworth mess is fixed, and a proper football structure is put in place to fix the years of rot at Manchester United. We will see how Ineos can improve things if they can.
Cheers Andy your videos really clear up all the negativity online
Some areas to progress seem clear and should be possible - with obvious funding constraints. These are - becoming a proper high performance sports organization, infrastructure, recruitment, community and fan engagement and young player development (as both players and outside of football). However, the playing side, and also club culture will be a lot more challenging and will take many years. It seems to me that we have still not developed a post Ferguson identity, which also reflects how much the football landscape has changed.
It was said that four of the Glazers were open to a full sale, so my hope is, now that Sir Jim is on an equal footing regarding shares, he'll at least be the majority owner soon. Getting the other two out maybe harder but at least there's light at the end of the long tunnel. Overall I do believe Sir Jim genuinely cares about the club, something totally missing since 2005.
Thanks Andy, appreciate your content and reporting. UTFR
Good honest and balanced piece as always…
The glazers absolutely have the final say on financials. They haven’t relinquished board position and power. The glazers (again) have played a blinder. More cash in their back pocket, and blame for poor football performance is now ineos’s fault. A protective shield. Genius really.
Everyone's getting this wrong. INEOS are the largest single shareholder. There is no "The Glazers". Each sibling/nephew/cousin is a minority shareholder with their own vote and interest level and outlook.
Surely the Elephant in the room is 1 Billion quid in debt...including over 300 million in outstanding transfer fees. How can the club go forward with such a huge amount to pay?
The only long-term debt is the $650m Glazer Debt. That's costing us about £24m a year interest out of revenues of £650m. It doesn't affect things like transfer spending, it affects things infrastructure spending, but SJR is pumping money in for infrastructure so that debt isn't important right now. Of that $650m debt, $425m of it is the bonds that are really low interest rates and can't be refinanced or paid off until June 2027 anyhow. I don't think anything will be done with the Glazer Debt until it needs refinancing in 2027 and 2029
Transfer debt is normal football business, future trade payables. The RCF is a short term credit facility, and SJR paid down £120m of that early this year to reduce the interest paid this year.
Yep. I hate when people pass debt off as being almost a good thing when all it's done is suck us dry over 20 years. Heck I'd even say the Ineos debt is hardly encouraging, they borrowed via Ineos to buy us. Doesn't matter how you slice it for such ruthless businessmen those interest charges & impact on their own balance sheet has an impact on how they view & run the club. We as fans just bent over & took it yet again. For a guy who was boasting about being a boyhood fan with wild riches, least he could've done is bought us outright & if not use his own money for shares he did buy. Just doesn't sit right with me. Long gone are the days of clubs being community assets, but they can at least be ran in a better way with minimal operational level of debt.
Ineos are not stupid. Just need a bit of faith and patience while they get a grip on things. I'll guarantee Sir Jim isn't going to ignore that debt and will not be happy to burn revenue paying interest like the Glazers have been.
A very interesting and insightful video. It does not have the usual cliches.
Thank you for this channel. Not the emotional BS like the fan channels.
GLAZERS OUT!!
Keep up the top notch work Andy 👏
Excellent summary. Glazers just drained the club and loaded debt. Improving the team will be a massive challenge.
Nice balanced and understated commentary Andy.
I love buying my United We Stand fanzine every month.
Cheers
Another spot on commentary Andy 👍🏻
In a world and society of clickbait media and UA-cam jokers, Andy seems a genuine fan and person. GGMU.
He is. Editor of UWS. Got a right life. Being out in Spain at games and all over.
There's nothing to suggest in Ineos' sporting record to say they'll be the answer we need. I hope I'm proved wrong
Andy.. what have you heard about the $1B debt we’re carrying on the books? Is there anything afoot under SJR to reduce this or transfer the burden onto INEOS’s books? Maybe a short video on this? It was always a major bone of contention with the fan base but it seems to have evaporated as a concern.
Hi Andy,, very informative video. Andy , 2 questions if I may. The papers say this much and that much but how much of a percent do the Glazers own right now ? And just like the Glazers did, do Ineos have the same intent of buying more shares within the next 3 years so that they will become the majority shareholder ?
Won't the cup final result affect the cost of termination?.I would expect contract clauses to reflect sacking if in champions league,Europa ,conference or nowhere (which is likely).
Andy Mitten impressive as usual
Ineos may be the biggest individual share holder, but they do not control the purse strings, until they do not much changes.
We're a PLC. The new CEO is Ineos' man. The new CFO is Ineos' man. These are the people responsible for the day to day, month to month, year to year, running of the club including the finances. The Glazers are little more than passive shareholders.
So they were in charge when the river ran through the stand..?
A lot of fans think INEOS will fix everything wrong with the club in a few months. 🤣🤣
It's gonna some take time to root out all the stupid and rotten shit in the club. There is a LOT to do!
Agreed 33$ per share next May. INEOS don't work for anyone.
I really hope it works out with INEOS but realistically I'm not convinced that will happen. They have no proven success stories in sport. They took over the best cycling team in the world and now they are bang average. What experience has David Brailsford got in football...absolutely zero so how can he help plan our future?
Then there's the finance and how much investment they can seriously generate. Yes Ratcliffe can go begging for investment for his "Wembley of the North", project but this will take a very long time. Meanwhile the likes of City and Newcastle will be moving much faster and we'll never be able to compete.
Yeah, let's scrap the deal and go back to 100% Glazer ownership!
@@richardwillford2418 That's the point really. At the end of the the day the Glazers still hold the vast majority of shares and therefore the debt will is going nowhere. In my opinion this deal with INEOS was another nail in our coffin as they don't have the resources to deal with such a big club. Basically the Glazers are still firmly in charge and going nowhere anytime soon.
@@chrishullah5000 Jim Ratcliffe is worth over £20 billion himself. He is the majority shareholder of Ineos which has an annual turnover of over £50 billion. They have the resources !!!! It's not Ratcliffe's debt to pay off while he only owns 29%
@@chriswood753 I very much doubt he'll be spending any of his personal wealth, do you?
With the investment now required after years of under investment in the infrastructure and money wasted on so many players, how can the debt be removed? Bearing in mind that interest rates are so high its still not a great outlook is it?
United fans should fly a banner in support for ETH
From what I’ve heard the idea is to have the GLAZERS OUT by 2027/2028. INEOS are determined to be the leading shareholders ITK but I can’t say how I know this
Donating to the tories
Who?
Given how bad we've been over the last 11 years, we've still managed to win 4 major trophies, that's 4th most in England over that period after City, Liverpool and Chelsea. Make of that what u will
If SJR starts developing the area It's a great opportunity for locals and associates to back it up by even more initiatives and investments. The possible synergy thingie ! :)
Please Sir Jim fix our roof 🥺
When I first heard that Ratcliffe was one of the bidders, I knew he was going to win. Acquisition is his speciality, and it made him one of the biggest in his industry. The United deal is a genius set up. Unlike his bidding opponents, he understood that the Glazers did not want to sell.
I marvel at all the people who still think the Qataris should have bought the club. I mean, perish the thought! - we are now owned by a Mancunian who loves the club and has assembled a team of level-headed, best-in-class footballing experts. It would have been so much better being owned by a Gulf state dictatorship with more money than brains!
Check it out mate. We are not owned by a local lad. We are owned by an American family of parasites who have sucked us dry and destroyed the club. INEOS have enabled their continual ownership. Rather have a bloke from Qatar who cares for the club.
lets be real the 1.25billion sir jim paid for the 25% of shares goes to the glaziers in there pocket not into the club so the finances have not changed just the name on a share certificate to add as a shared owner
I have to say Mr. Mitten is looking sharp in the thumbnail. Smoldering.
Andy ❤️
The era that saw Man Utd rise to pre eminence is over and can never be repeated, the circumstances cannot be replicated and the English game has moved on.
Man Utd are no longer a big fish in a small pond and people yearning for a return to those times need to accept this.
The big stuff - they’re getting the desks tidied and working on increasing email traffic.
Number one priority: Sort out the stadium strategy.
Video on the stadium here if you’ve not already seen it ua-cam.com/video/HL_3AIzZBmw/v-deo.html
Oh the glazers are viewed in Tampa about the same as they are back home in Manchester. At least by friends here who are Bucs fans. They show up, threatened to leave Tampa unless the city pay for a new stadium, they get the stadium gratis (funded by a city/community tax that’s still being paid for), season tickets have gone up 30% in 2 years meaning less renewals = a local tv blackout again. Fans still think of Malcolm fondly because they were crap before he showed up, but the sons don’t give a flying, and they see that.
Glazers have been in charge since 2005. From 2005 to 2013,,United have been doing well. What happened since then? Are Glazers really the problem at United? From 2013 to now, they have spent over 1bn dollars.
Jury is out for me. Seems like they’re doing private equity type tactics for the sake of it. The fact they haven’t made efforts to repair the stadium is a huge red flag for me - it’s urgent work being put off and not sure to what end.
Is there any news on ten hag dont want him to go i want him see out the project
Andy covers that in this video
Tapping up key employers of other clubs.
Q. Do millionaire's, or the successful, spend the money of others before their own? 🤔
Great channel new subscriber and great job u do
Great show lads lads lads
If we do get a brand new stadium built there is no way the Glazers will be going away with more revenue to extract from the club.
Oh but they will because huge debts/loans coming up that club/paras.tes can't pay, ratcliffe can do a = debt to acquisition
Shareholders can't take money out of the company, except for dividends...and we're not paying dividends anymore. The only way the Glazers make more money is by selling more shares. The Glazers will be long gone by the time the new stadium is built anyhow.
Is old Trafford safe ..water coming down through roof in dressing room..would you turn on any light switch with that happening
We need to cut the amount of tourists coming to old Trafford and get the atmosphere back to how it was
Wtf😂
I understand you Paul. The days of the pub crawl with your mates on a Friday, gathering again for train or coach on a Saturday, home & away, & pay at the turnstyle ... are sadly gone. Tickets go to highest bidder & everyone's a stranger around you at OT. Days of The Stretford End, Right Side, Left Side, Tunnel 😂 gone! Scoreboard & Paddock gone! I wouldn't even know how to purchase a ticket now.. or should I say it's not worth the effort.
Won’t happen tho !.moneeeeeeey !.
That's only gonna get worse with a new stadium. Coroprate Fc.
That's a bit prejudicial to overseas fans who've paid an absolute eyewatering amount for the chance to see their team play isn't it?
The man, the myth, the encyclopaedia of useless football knowledge.
Lord Mitten!
Knows the capacity of every stadium in English league football 😂 Quality, top class Journo though.
They are fixing roof starting next week 💯
Maestro Mitts 👍
Talk on the managerial condition
Where’s Binsey?
They’re equally disliked in Tampa Bay, read up on NFL sites, you’ll see. Same issues ref non-investment of their own money.
Tampa Bay fans need to protest as well, recent reports of nfl expose them as horrendous there as here.
I believe if we think of the Glazers as just stock holders, the way we thought about stock holders and investors back say in the 70s., we can sort of discount them. Unfortunately we'll never forget that they are there. We can then get behind Sir Jim, and try to bring stability back to the club. I honestly believe he is the best option we could have hoped for. The Arab investment would have the same restrictions, Sir Jim will spend as much as he can to restore United to the highest level. It makes sense, if United are successful, under the conditions, we can spend more money on the best players and the business side pays better dividends for investors.
We need United to be healthy again, God it's been agony since Sir Alex left.
Sir Jim has already disappointed me in the way that Eric ten Hag has been managed.
Great video sir. Want ur personal take on Ten Hag. I want him to be our manager for the coming season.