"Most of the club's value comes from the property it owns"

book value maybe, its value as a going concern? not a chance

unless Old Trafford and Man Ure's other property values are worth ?600m or whatever the Glazers paid

as for the timing of when these decisions were taken i'd suggest that the value of the new shares was arrived at sometime before the accounts were sent out to shareholders and would have been arrived at by some accountant somewhere

i know that i've asked the question before, but i cannot recall tha answer, was the price decided with the buyer of the new shares already known and with their full prior agreement?

if so the decision could have been made months earlier and was just waiting for the final accounts to be confirmed and for ratification of the new share issue at the AGM

i'm sure this must have been posted on here at the time it was first published (but i only read it for the first time the other day) but there's a bit about Delia's walking away for nothing quotes on the 2nd page - not that i expect that you'll change your view after reading it User Posted Link

Posted By: blindasabat, Aug 20, 20:24:24