I like Ten Hag and I don’t heavily object keeping him but my head says it’s probably not going to work out
I'd rather keep Ten Hag and see how he fares under the new structure. But I must admit the lack of progressive play is starting to piss me off.
Hopefully this ends all the utter nonsense about Sheikh Jassim not existing, although it probably won't because some are too far gone on the conspiracy theories
It was funny though, especially when you had the incompetent media publishing pictures and descriptors of the wrong Sheik Jassim. Humour filled the void left by this guys aloofness and Sir Jim was clever buying into that narrative ‘look at me, I’m one of the fans like you!’
Don't hold your breath.
It was funny until I realised some people actually believed it!It was funny though, especially when you had the incompetent media publishing pictures and descriptors of the wrong Sheik Jassim. Humour filled the void left by this guys aloofness and Sir Jim was clever buying into that narrative ‘look at me, I’m one of the fans like you!’
Im sure he knows all about Jassim, if not from this deal then certainly from his other business deals.
… unless Raine/Ravitsch have been paid by the Qataris to publish this piece so they don’t look silly?
I remember the original sale thread (i didn't contribute then) had a section in which pro-Qatar posters thought Jassim was 'the man' because he allegedly fell asleep in meetings.
This is all irrelevant. He just didn't show the money as evidenced by the SEC documents and as confirmed by Joe Ravitch - he was approx. 10% off asking price.
Tweet
— Twitter API (@user) date
He will have a private jet or two lying around. I feel for the people at the club behind the scenes who are going to lose their jobs but it’s clear to see we aren’t getting value or efficiency in any metric. Things need to be stripped back and rebuilt
This isnt a surprise and happens with every takeover/significant investment.
Job losses suck but where there is no need there should not be an employee. However, I hope they start the clean up at the top
You can bet your ass on he won't be happy with them taking money out.
My first thought reading that too.
I'm thinking that as well. This looks to me a if over x years Ratcliffe will keep purchasing their shares until he gets the lot, or 51%,v so hes in complete control. Hes doing way too much 'back of house' for a 25% stake. I thought he would be running the football side and thats it, but with a new stadium as well, it wouldn't make sense, unless he has a full sale agreement, or at least the controlling majority.
Whilst they will undoubtedly benefit (most likely in terms of selling price) Sir Jim isn’t daft and wouldn’t enter an agreement that doesn’t suit him or give him what he wants. I’m confident some day soon we will be free of the Glazer scourge!
Tweet
— Twitter API (@user) date
That is good news.
Is it? I'd see it as a positive if INEOS had bought out the Glazers completely and were gradually paying off their debts. But the Glazers are still here and are still going to be taking serious money out of the club, which they'll now expect INEOS to foot the bill for.
It's the "credit card" debt, we've paid chunks of that several times before as well.
So it just covers interest? seems a hell of alot for an interest payment.
This is just our operational day to day spending debt. (Transfers etc)
Look into MUFC interest payments over the Glazer ownership, it'll knock you sick.
For clarities sake, no it’s not just for interest. The club has three primary types of debt. The acquisition debt, the revolving credit facility, and transfer debt. The acquisition debt is otherwise known as the Glazer debt and is in the form of a long term bond. The transfer debt is self explanatory. The revolving credit facility is access to shorter term debt to cover operational expenses as needed. It was initially used as part of the Covid management plan to cover short term cash needs, and is in addition to the Glazer debt. The interest rates are different (likely higher).
Unlikely, its normally the poor sods at the bottom are the most expendable because they cost less to pay off.
Tweet
— Twitter API (@user) date
good, sooner he gets here the sooner he gets Sir Gareth. #brexitmeansbrexit
It has been written multiple times here, and in other threads, that the Glazers will not be taking dividends.
The Geordies finally seeing sense. This was always a cut your nose off to spite your face routine from them as it holds them up finding a replacement as well.
Thanks for explaining this case, my post was more referring to the bolded, from what I have read the interest payments on the acquisition debt is a disgrace.
We need some community notes. They aren’t taking dividends. They’re banking on Ineos turning the club around and being able to sell it for more money, or something a like a super league increasing the value in the next few years.
Yeah using Jim's cash to pay off to the expensive debt, and will take on a cheaper replacement debt in it's place.
Maybe there's some sort of first refusal agreement and an agreed purchase price, if the club was to achieve X, Y, and Z.
How much 'bastard Glazer' debt remains?
Actually 140m of the revolving credit still remains owed.
