Its obviously state backed. Just like almost everything else of worth in Qatar.
But I suppose to appease the FA they still have to make an effort to at least seem independent. Appearances and all that.
Its no different from what the saudis did.
Club Sale | It’s done!
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But I suppose to appease the FA they still have to make an effort to at least seem independent. Appearances and all that.
Its no different from what the saudis did.
It’s probably impossible for Forbes to get a accurate wealth estimate on them. I read somewhere that the estimate is probably x10 or something.
No doubt but if you multiply the estimate by 10 or even 20 then I'm still not sure he would have enough personal wealth to fund the 100% purchase, debt removal and infrastructure projects they've promised at United would they?
Buying the Glazers out = £5-6b
Buying the class A shares that the Glazers don't own = £500m-£1b (these will have to be bought separately I assume)
Removing the Debt = £600m (though this could be part of the sale price)
Redeveloping Old Trafford/building new stadium £2b
Upgrading Carrington £500m
So the best part of Ten Billion quid, even if he was worth £24 billion I don't see him blowing half his fortune on a project for one of his sons that he doesn't even think is a good investment, he has 15 kids after all.
So either he's borrowing most of it or it's coming from somewhere else.
Maybe he will take on a couple of extra jobs to pay for it.
No way he's taking 1% of the fund himself. Maybe the whole fund charges that, unlikely given its a state fund, but even if it does its split over operating costs, other staff etc. And its not trillions either. Its about $500 billion.
He's a rich man no doubt but he's not buying us out of his own pocket.
You think the other half (10B) USD is not a good cushion for him and his family to live on?
FFS how much does people earn in this forum?
There is always Wonga... If he is strugglingYou think the other half (10B) USD is not a good cushion for him and his family to live on?
FFS how much does people earn in this forum?
Carrington £500m??? What are you building there?
Rehabilitation centre for Phil Jones and Martial
Ah. Then it's cheap!
Amazon are always hiring.
That's not how billionaires think though, wealthy people don't use their own money to buy anything. That's one of the main reasons they're wealthy. Ratcliffe or Musk could afford to buy United out of their own pockets but they wouldn't do that.You think the other half (10B) USD is not a good cushion for him and his family to live on?
FFS how much does people earn in this forum?
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A mini Old Trafford with 64 cheese rooms of course.
No idea to be honest it depends on what they would actually want to do with it. City's training campus cost £150-200m ten years ago, given the increased cost of building a similar project would cost much more today, probably £200-300m+.
But even if they only planned more modest upgrades costing £50-100m that wouldn't make the whole project more affordable.
It`s quite funny seeing the news stories Sky are putting out on their website. There have been three separate videos this week with either Kaveh Solhekol or Melissa Randy basically saying exactly the same thing. Keveh saying "we need to be told by the buyers" in other words they don`t know what`s going on so this week they have just peddled the idea that the Glazers "might" not sell now.
24carat Gold plated sinks, baths don't come cheap.
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Not good
Because maybe just maybe the net worth estimated of his father who used to be a front figure of QIA and reportedly is far rich than it is estimated?
Or maybe he wants to invest because his son are huge fans? Have we never done something or made difficult decision for the happiness of our children?
From the interview his father appear to be a shrewd businessman and he even mentions that it may not be a very good investment but he is willing to do it for his children.
Some people needs to watch the interview, it was a 30 min interview and only one football related question.
Someone bringing billions in new debt was always unlikely to want to clear the old debt
I was quite happy with JR as a second option after Qatar, as I can’t see him possibly being worse than the Glazers at running a club, but things like this don’t fill me with confidence.
No thanks.
I would take SJR over the Glazers if the Qatar bid doesn't happen for whatever reason.
But honestly I think we are in a situation now where Qatar is extremely likely, or more accurately Sheik Jassim.
However do not expect us to go for your Mbappes etc, I think youll see extreme wealth to clear debts, renovate stadium etc, essentially a clear slate. New staff etc to properly push us forwards, but regarding transfers etc, I see us going for relatively sensible options under them, imagine the Newcastle approach.
Wonder if that changes the tune of some who felt he was the best possible custodian for the club.
The level of debt squeezing the club is the single most important thing that is holding us back from investing where we need to.
The position SJR is taking is that in effect, he's content with the Glazer business model that's currently in place (albeit maybe without extracting dividends etc).
No thanks.
The position SJR is taking is that in effect, he's content with the Glazer business model that's currently in place (albeit maybe without extracting dividends etc).
No thanks.
Hasn’t Jackson pretty much been at the forefront when it’s come to the takeover talks in relation to journo’s?
interesting that Chelsea had so many bidders and we only have two it seems
Think in all honesty, the Qatar bid already on the table has blown everyone else out of the water. Their only chance is to form a consortium which some may be doing as we speak.
No, hes been very good, but Mike Keegan is the most reliable and has been the one to break the big news.
Jamie has been decent and has good connections at the club itself as in the day to day but he has been very light on detail on the takeover, even this article is a couple of short paragraphs.
Can’t see how it not being done in the summer has any sway on the deal at all
How do we know Sheikh Jassim and his father aren't borrowing to fund their takeover bid either?
I don't think they are because I think it's a state backed bid fronted by them. But if it isn't and they are just private individuals then we have to wonder where they're pulling billions from.
A lower asking price and Chelsea were in a position where they had no choice but to sell.
Maybe not from the buyers point of view but if the Glazers are trying to squeeze more money out of the bidders, they'll probably create an arbitrary deadline and put it out there that they might not sell the club if it isn't sorted by the summer. Knowing that new buyers will most likely want to be in control before then with the problems United might run into with FFP in the near future.
You do know they are owners of an Islamic bank. Even if they borrow from their own bank, It would be for zero interest.
Sheikh Jassim and his father own the QIB?
0% interest is great and all but it'll still have to be paid back at some point. And United obviously can't afford to do that.
But the article says it’s the buyers who want it done before the summer.
I can’t see how it makes sense. There’s no reason why Glazers wouldn’t open up the chequebook for United to spend Uniteds own money. Glazers can’t take it with them
Part. Not the whole bank. But the point is, they do not believe in western banking. Islamic banking is something they work with. They would not borrow for interest. United can absolutely pay back if we are not hampered with interest payments. We paid over 1 billion for the Glazers's debt in mortgage and interest.
No, he's been dreadful. Up until the Friday deadline for indicative offers, he was still running with the line that the Emir himself was personally buying the club, which is obviously untrue.
Jackson is in general not worth listening to on any topic.
Not necessarily. From my reading of this, the Qatar takeover would be backed through an investment fund - that's money that is available and sitting ready to be pumped into a project or asset and wouldn't appear as any outgoing liability that United were responsible for paying back.
There won't be any loan that needs 'paid back'. It's locked into the asset and will grow with it. The value for Qatar is in the long term appreciation of the asset.
Pay the asking price of 5b now, clear the debt and invest in the infrastructure and allow United to grow.
Do we have much money though?
United are making losses, we apparently owe £300m in transfer fees, have only £24m in cash reserves, borrowed more money last year and will reportedly have to sell before being able to buy this summer due to FFP.
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