The point is, he's dead. And the Matrix died with him.
6 seconds sound clip from the The Transformers: The Movie movie soundboard.
You can hear this line at 00:29:59 in the Blu-ray version of the movie.
Quote context
[...]
- You are to destroy the Autobot Matrix of Leadership.
- It is the one thing, the only thing, that can stand in my way.
- You have nothing to fear. I have already crushed Optimus Prime with my bare hands.
- The point is, he's dead. And the Matrix died with him.
- No, the point is you are a fool.
- The Matrix has been passed to their new leader, Ultra Magnus.
- Why should I? What's in it for me?
- Your bargaining posture is highly dubious.
[...]