This has completely missed the point that Ineos has taken a 25% stake in United and have significant governance/control at the operational level. Isn't the 'transfer of ownership' point already more or less priced in?
Completely agree with you on the point around analysts using EBITDA multiples to value this, just madness given amortization of player purchases is just about the largest expense. Shocking lack of basic analytical skills
Thank you for taking the time to read the post, and share your thoughts. A 25% stake is considered minority ownership. As the Glazer family is still in charge, there's no actual transfer of ownership/control (yet).
This has completely missed the point that Ineos has taken a 25% stake in United and have significant governance/control at the operational level. Isn't the 'transfer of ownership' point already more or less priced in?
Completely agree with you on the point around analysts using EBITDA multiples to value this, just madness given amortization of player purchases is just about the largest expense. Shocking lack of basic analytical skills
Thank you for taking the time to read the post, and share your thoughts. A 25% stake is considered minority ownership. As the Glazer family is still in charge, there's no actual transfer of ownership/control (yet).