Why is it always said that he’s waiting for the stadium to be built to sell so he can maximise his income upon selling??
Compared to now right now, the value of the stadium will increase by another couple of hundred million within the company as it nears completion, but since it’s being paid for entirely by loans by the look of it (rather than internally generated cash through profitable operations), the liabilities within the company will grow an equal and opposite amount. So the net assets and overall worth of the company is unchanged. You would typically pay the value of net assets PLUS a multiple of annual profits (goodwill) to buy a company - we don’t make profits, and as above, net assets won’t massively change.
It’s an oversimplification as obviously a complete stadium within a company makes its “easier” to get in and start operating profitably than a half built one, so it makes us more attractive as the hard work has been done. Can’t see how finishing the stadium will magically increase the sale price by hundreds of millions as we are increasingly riddled with very high interest borrowings in order to finish it.
Would also imagine a new shiny trillionaire owner would be able to source financing far more easily and more cheaply than the current serial failure who has run a steady, robust but often skint asset into the ground and attracted regulatory investigations.
In terms of his trading within the UK being restricted, you’d imagine a sale would be allowed in order to remove his business interests in the UK. Otherwise what are they restricting for. Not sure tbh.
I’d hope if a very very serious investor came knocking with a proper offer, he would sell up now and wouldn’t be much worse off than waiting 2 years. Surely it would be worth the weight off his shoulders.
