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Sunday, December 4, 2022
HomeSportsFamily that owns Manchester United considers selling the club, and shares soar...

Family that owns Manchester United considers selling the club, and shares soar 25%

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One of the biggest clubs in the world is for sale

Shares of English football club Manchester United soar 25% this Wednesday (23), on the New York Stock Exchange (NYSE), where its shares are traded.

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The movement came the day after the announcement by the American Glazer family, owners of the team, that it was open to selling the club.

The team, which is experiencing one of the biggest crises in its history, said in a statement that the board would consider “all strategic alternatives to increase its growth”. The document cites a new investment, a sale or “other transaction”.

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Serial business: the eventual sale of Manchester United would be the latest in a sequence of transactions involving clubs in the English Premier League, the most valued domestic league in the world.

  • In October last year, Newcastle were sold for $415 million (R$ 2.2 billion) for the sovereign wealth fund of Saudi Arabia and became another club linked to royal families of Arab nations – alongside Manchester City (UAE) and PSG (Qatar).

Disputed Acquisition: the Glazer family bought Manchester United in 2005 for around 800 million pounds (about BRL 5.1 billion at the current exchange rate) and has always been criticized by fans. They said that the owners took advantage of the club’s commercial power, but did not invest proportionately in the team.

  • As of Tuesday, the Red Devils’ market value was around $2.45 billion (R$ 13.2 billion), and the surge in shares this Wednesday is in line with the amount raised in the sale of Chelsea –almost 50% higher–, a club that has lower revenues than United.

On the same day when the owners of the English club announced their intention to sell it, another piece of news shook the football market: after a series of public fights with the team’s coach, the Portuguese Cristiano Ronaldo was ending his second spell at Manchester.

  • Are you lost with the amount of games –and zebras– in the Cup? THE Sheet there is a free newsletter sent every day in the morning which is a guide with the most important events in the tournament. Sign here.

Cup is here, but betting regulations are not

Due to the delay of the Jair Bolsonaro (PL) government, the World Cup has arrived and Brazil still does not have basic regulations on sports betting.

Understand: a law approved in 2018 by Congress provided that the government should regulate sports betting with fixed rates within a period of up to four years, that is, those in which the bettor knows how much he can win at the moment he tries his luck.

  • The deadline ends on December 13, and a draft sent in March by the Ministry of Economy to the Civil House remains blocked by political pressure from Bolsonaro allies.

What does the minutes say? THE Sheet had access to the document that establishes general rules for the operation of sports betting companies in Brazil:

  • Operators must have a branch in Brazil and request authorization from the Ministry of Economy, with a period of five years. To open the process, they have to pay BRL 22.2 million🇧🇷
  • Companies will have to pay CSLL (Social Contribution on Net Income) and pay Income Tax on the award.
  • They will be required to promote responsible gaming awareness actions.

How it is today: companies headquartered abroad can operate in Brazil without having to pay taxes or report to the government.

  • This creates, according to specialists, not only greater scope for corruption and money laundering schemes, but also prevents the country from having revenue from the activity.

What stops the regulation? Pressure from the evangelical group, which convinced the government not to edit the text before the election to avoid the risk of losing supporters’ votes.

  • There is an agreement for the rapporteurship of the proposal to be with one of the deputies of that group.

Black Friday wary

Do you believe in Black Friday sales? For most Brazilian consumers, the answer is no.

  • This is what a survey by the Reclame Aqui website with 13,700 users points out.

In numbers: according to the survey, 56.7% do not intend to buy on Black Friday (against 53% in last year’s survey).

  • The main reason given by 49% theirs is the lack of “real” promotions. Then come debt and lack of money (26.3%🇧🇷
  • Those who answered “I don’t need a new product or I already take advantage of promotions during the year” were 24.9%🇧🇷

Which explains: Much of the distrust among consumers stems from last year’s event, which was marked by high costs for retailers and the pressure of inflation on consumers.

  • These reasons marked the “Black Friday of food” of 2021, given the inability of retailers to generate promotions, he told the Sheet Eduardo Neves, president of Reclame Aqui.

What will you have for promotion? Of the nine large retailers in the consumer electronics and household appliances, supermarkets, fashion and e-commerce segments that Sheet got in touch, only C&A indicated a list of items with a significant drop over the price practiced in the second half.

  • Among the ten products selected, there are jeans (from R$ 149.99 to R$ 79.99), passing through twill bermuda shorts (from R$ 69.90 to R$ 29.90), to children’s blouses (from R$39.99 for R$12.99), as well as makeup and shoes.

Deepest pocket: the biggest slice (30%) of consumers willing to buy on Black Friday intend to spend between BRL 1,000 and BRL 2,000, a relevant increase in this price range compared to last year (16.6%🇧🇷


‘Ó-quis-sô’ plans in Brazil

With 200 stores in the capital and in the interior of São Paulo, the Oxxo chain of markets completes two years of operation in the country in December with a change of slogan: “open 24 hours” gives way to “ó-quis-sô, it’s always next”.

Who is it: the network belongs in Brazil to the Nós group (association between Raízen and the Mexican Femsa). It was founded by Femsa 45 years ago, to dispose of surplus beverage production in retail.

  • The proximity market model –which even spawned memes in Brazil– was established in Mexico, where it went from 800 stores at the turn of the 2000s to the 21 thousand of today.

How it works: the business starts from a lean model, with a single attendant in most stores – the increase in employees per unit depends on billing.

  • “Part of our value proposal is to deliver competitiveness, cost-benefit for the consumer. This implies a more efficient service structure, which allows me to open three markets in a neighborhood, instead of one”, he told the Sheet the president of the Nós group, Rodrigo Patuzzo.
  • Despite being a network of markets that mostly work 24 hours a day –20% close at 10 pm– and have security restricted to a camera circuit and a patrol, the president rejects public safety issues as a problem.

Plans for Brazil: in addition to changing the slogan, the company should launch another novelty by the end of the year.

  • The Oxxo app, which will allow services such as “click and withdraw”, payment via Pix, use of lockers (cabinets to store purchases made online) and delivery.
  • The network also plans to open 215 stores next year, all in the São Paulo market.
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Philip
Philip
I am a highly experienced and successful news journalist, with many years of experience in the industry. I have worked for some of the biggest news organisations in the world, and have gained a huge amount of knowledge and expertise in the field. I am now working as an author at News Bulletin 247, where I mostly cover sports news. I am a highly skilled writer and reporter, with a keen eye for detail and a passion for finding stories that others might miss. I am always looking for new and interesting ways to tell stories, and my work is always of the highest quality. I am also a very experienced editor, with a good understanding of how to make stories flow well and be easy to read.

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