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View Full Version : Should Cubs look to Manchester United IPO plan?


roylestillman
07-05-2012, 10:03 AM
The Glazer family, owners of Manchester United since 2005, has filed A statement with the SEC for an initial Public Offering for Manchester United. Under the deal, the Glazer family would retain full control of the team, while issuing shares. The initial request is to sell $100 million in shares, but a lot of analysts are saying the amount will likely rise to as much as $500 million.

Could the Cubs be paying attention to this deal as a way of both paying off some of it's debt as well as raise cash for Wrigley renovations? Don't know how tax issues would enter into it.

JoeyCora28
07-05-2012, 10:37 AM
Don't know what the laws are regarding the Premier League teams, but I thought that MLB teams are all privately held by individuals or partnerships.

I don't think that MLB teams could sell stock unless they are willing to lose the anti-trust exemption they have had since 1922. They would most certainly be engaging in interstate commerce by selling stock.

DSpivack
07-05-2012, 12:03 PM
Don't know what the laws are regarding the Premier League teams, but I thought that MLB teams are all privately held by individuals or partnerships.

I don't think that MLB teams could sell stock unless they are willing to lose the anti-trust exemption they have had since 1922. They would most certainly be engaging in interstate commerce by selling stock.

Exactly. Plus, the Glazers are doing this because they badly need the money, as their purchase of the team was badly leveraged and the team has a lot of debt to pay off.

amsteel
07-05-2012, 12:20 PM
What do the Packers do? They could do that.

Which is as I understand it, is sell essentially useless shares to people desperate to pretend to be a part of the team and be legally bound to not gamble on games.

http://deadspin.com/5866292/the-feel+good-scam-of-owning-the-packers

Steelrod
07-05-2012, 12:25 PM
I doubt the Ricketts have any desire to give up any percentage for $$. They are looking for a taxpayer ride like the one in Mesa, to build shopping and restaurants to improve their bottom line. Can't blame them for trying.
However, a pushy attitude won't work in Chicago. Epstein is here to smooth things along, with Hoyer dealing with baseball issues.

DSpivack
07-05-2012, 12:29 PM
What do the Packers do? They could do that.

Which is as I understand it, is sell essentially useless shares to people desperate to pretend to be a part of the team and be legally bound to not gamble on games.

http://deadspin.com/5866292/the-feel+good-scam-of-owning-the-packers

The NFL in it's rules has made sure no other team can do what the Packers do. I suspect MLB is similar.

WisSoxFan
07-05-2012, 12:35 PM
DSpivack is correct. The NFL bylaws prohibit other teams from doing what GB does, but the Packers were grandfathered in when the bylaws were written. Like Spivack I suspect the MLB bylaws are the same or similar.

DumpJerry
07-05-2012, 02:01 PM
What do the Packers do? They could do that.

Which is as I understand it, is sell essentially useless shares to people desperate to pretend to be a part of the team and be legally bound to not gamble on games.

http://deadspin.com/5866292/the-feel+good-scam-of-owning-the-packers
That's too bad. I'm sure we could have gotten enough rich peeps together to buy enough shares to force the Packers to hire Mike Martz and Jerry Angelo......