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Define Irony: Bank Doing "God's Work" Is Preparing To Acquire Red Devils
Jim O'Neill must be in hog, er PIIG, er BRIC heaven: it appears his employer, Goldman Sachs, is about to become the proud owner of O'Neill's all time favorite Manchester United. At least that way the reason for an AIG brand still advertised on the front of all ManU players' shirts will finally make sense: call it bailout advertising, in which AIG (indirectly) paid about $160 billion in taxpayer money to Goldman and a few others so its name would grace the uniforms of Goldman's latest acquisition. According to Sky News, a consortium of investors, which includes Goldman Sachs and law firm Freshfields, affectionately called the Red Knights, is preparing to acquire the soccer team from the much hated Glazer family, which in the span of several years has gotten ManU's debt/GDP ratio (or some other BS metric) to be almost as bad as that of the United States. Alternatively, it is oddly ironic that the bank that does God's work will soon be the owner of the Red Devils. The question: will Lloyd soon be sitting in satan's box at Old Trafford?
Sky's city editor Mark Kleinman, who broke the story, told Sky's
Jeff Randall: "I should caveat all this by saying that the Red Knights
campaign is at a very early stage, and while it has the support of
influential fan bodies such as the Manchester United Supporters’ Trust
(MUST), it’s possible that those involved may conclude it’s not
ultimately viable."
He added: "Having said that, the summit - the first formal gathering
under the Red Knights banner - is the most significant evidence so far
of the seriousness of the campaign to win back control of United."Any serious offer would need to raise around £1bn, Kleinman said.
A statement from the Glazer family said the Old Trafford club was not for sale.
Many Utd fans are bitterly opposed to the Glazer family, staging
weekly protests at home games while dressed in green and gold shirts
and scarves.
They are angry that the club has been allowed to accrue debts of around £700m. The Glazers' recent £500m bond issue has crystallised opposition
among fans to their continued ownership of the club, Kleinman said.
They claim the the debts have prevented manager Sir Alex Ferguson dipping into the transfer market.
With the bulk of England's other soccer teams directly and indirectly owned by the Russian mob, it only seems fitting that Goldman would find its next natural calling to be an involvement in this particular sport.
We look forward to all English soccer referees soon having direct access to Redi, Sonar, Sigma X, and any other "advance" look facilitation systems, which will make team appearances on the pitch irrelevant, as refs will soon know (with at least a 90 minute window) just how the game will end, thus making it a moot affair. This will be doubly true if Fidelity or Putnam are coming to the game.
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All futbol games to be fixed shortly after the sale. Goldman to be bookie, collecting juice on all bets, plus winning every bet using their own (taxpayer) money. 100% of the time, no exceptions.
BTW, Goldman OWNS the O administration. Spread the word.
just wait til those nutjob soccer fans come out of the stands and start beating the pulp out of the Goldman crew.....
O and Brown to be season ticket holders; fans to pay for seats.
Hold the Boat!
Goldman is a commercial bank.
Under the Bank Holding Company Act, are they not prohibited from owning such economically sensitive trifles, non-financial entities such as FutBol clubs, Chinese automakers and toilet paper dispensers?
Lloyd will burn in Goldman' own 7th Circle of Hell for letting the cat out of the bag, the disastrous PR now afloat.
No wonder they want NYC carry permits.
Let the Brits eat cake......
Sweet.
It must be nice to get ZIRP funds from the US Gov and leverage them across the globe.
Goldman plans to teach them new techniques to front-run the opposing team.
oh no, according to their web site "our clients' interests come first".
but they do admit that "we do not engage in many traditional commercial banking activities".
http://www2.goldmansachs.com/our-firm/economic-impact/for-the-economy.html
They are designing the special new jerseys already!...
http://store.muledesign.com/product_images/squid_lg.gif
http://farm4.static.flickr.com/3432/3756360920_ce0f8c774a_o.jpg
Great Headline for ZH over at clusterstock.
Goldman now cites negative press includings blogs as a risk factor.
Run Tyler run!
codewords.....
They still don't know how to calculate risk. Doing bad things to everybody on the planet=risk of karmic crushing. Blogs, mainstream press, talk in barbershop those are simply the mediums of transmission that result in the karmic crushing. Until they can make a pill or injection to shut off all communication the risks will mount.
ZH is using Red Sheriff?
Nice choice.
(see page source code for reference) imrworldwide.com
so "Nielsen monitors and measures more than 90% of global Internet activity"? I thought that was Google's job?
I want more articles about the busting of the gold market.
Satan! Maybe Pat Robertson and Glen Beck will organize a tea party boycott to protest this godless-anti-american-weird-ass-brit-shit. Sponsored by Goldman Sachs.
Probably not.
A lot of cheap shots in this article. Too bad because, while sports, the topic has interest.
The bulk of the premiere league clubs is not owned by the russian mob.
Two clubs are owned by US citizens: Manchester United and Liverpool (the two biggest english clubs) Both chose to bet against the future in an expansionist scheme.
Liverpool with much less success than Manchester United. Easy to understand as it is only a matter of predominant position. Once the predominant situation acquired, the others, no matter their methods, are limited in their results.
Both clubs are also too big to fail, which will give to propagandists an easy way to claim that the US presidency of these two clubs was a success.
Two clubs are owned by US citizens
Randy Lerner says you fail at understanding american ownership of 1st dividsion clubs.
Stan Krenke too
Tyler:
Great job. Goldman Sachs is pissed. Have all the facts absolutely undisputable. Do not stop and do not give Goldman any chance to hurt you and ZH. The Goldman guys actually do not understand that they made you a compliment placing ZH right with Matt Taibbi, Louise Story, and Janet Tavakoli.
http://www.businessinsider.com/goldman-says-matt-taibbi-zero-hedge-louis...
Aston Villa is also owned by Americans who are MasterCard owners.Arsenal FC largest shareholder is an American who has WalMart money. Some major distinctions. For example the US taxpayor is paying 3 billion US$'s for the construction of Yankee Stadium. The Miami taxpayor is paying 2 billion for the Marlins new stadium. Etc Etc. Manchester funds there own stadium and players. The Glazers plundered this global iconic brand loved all over the world. They loaded the team with billions in debt (courtesy of Goldman and Citadel)and stole all of the profit (very American). Citadels thesis was that Football maintains its value and is recession proof. Manchester breaks its stadium attendance nearly every game. Several hundred million people will watch any given ManU game.
The Arsenal largest shareholder is indeed a US citizen. A close call with the Uzbek shareholder. More important, none of these two are majority. And the British families owning the rest have agreed on locking their shares.
Dont give as much as leeway.
Many people are said to be ready to watch a ManU game but how many are ready to pay what it should require to clean the debt?
Incorrect, evidence-less claims portrayed as facts in this article. I can understand the Goldman-hating. On many issues, it is necessary to question their motives and what interest they have, but I think you're overdoing it here. Let's go by the standings in the table as of today.
Chelsea: Abromavich (I can see why you make the initial "Russian-Mob" claim.
ManUtd: See above article
Arsenal: Owned by shareholders, largest of whom is American
Tottenham: English
Man City: Abu Dhabi
Liverpool: American
Aston Villa: American
Birmingham: Hong Kong
Fulham: Egyptian
Everton: English
Stoke: English
Blackburn: English
West Ham: English
Sunderland: Irish
Bolton: English
Wigan: English
Wolves: English
Hull: English
Burnley: English
Pompey: They've had five owners this year, with only Gaydamak (the only Russian) selling at the beginning of the season.
My point being, do a little fact checking before making bold statements that the league is run by the mob.
Unfortunately Sky News has the story wrong - when it talks about representatives of Goldman Sachs it actually means Jim permabull O'Neill acting in a personal capacity. Shockingly the mail actually has an ok grasp about what is going on.
http://www.dailymail.co.uk/sport/football/article-1254363/Keith-Harris-t...
Citadel (owned by Ken Griffith who still plays soccer in chicago) and Goldman own the ManU debt. My sense is that they are taking over the Club because the Glazer clan has gone bankrupt. This despite stealing several hundred million from this global institution. ManU belongs to the world. And Goldman better not F with this. There would be Hell to pay.
Despite the hilarity of many of these comments, this crushes me as a lifelong Manchester fan (and there is only 1 Manchester). I also despise the Glazer family, as they have laden the club with so much debt they may lose future competitiveness, as did Real Madrid for the later part of the 00s due to their hideous indebtedness.
But hey, they won the Carling Cup, so everything is fine, nothing to see here...
In the picture, the ManU player delivering the well aimed flying kick to the fan, is Eric Cantona(a frenchman).
This story is false. Goldman Sachs is not part of the Red Knight group.
The GS connection comes from the participation of Jim O'Neill, GS's head of global economic research, in a personal capacity.
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