No I agree, but the media didn't seem to care did they
Club Sale | It’s done!
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Imagine it's just a sop to the fans. None of the suggestions will be considered seriously unless they already square with the scouts' targets, or they're available on a free like Ibrahimovic.
The point is borrowing will occur (the poster I responded to claimed there will be none).
Also if INEOS said they won't put debt on the club so I'm not sure why the cost to service their debt matters so much.
One of the independent.co.uk owners is a Saudi. His country has border issues with qatar. The other is a Russian oligarch. Qatar has been quite vocal regarding Russia's invasion of ukraine. Which makes you wonder why a journalist who doesn't mind working for such 'independent ' media is being so vocal about Jassim buying united
Nobody outside those involved knows who’s behind the bid but what we can do is a qualified guess based on the information that’s available.
You and many other are totally convinced that the Qatar state (royal family) is behind the bid. Nothing wrong with that and you can be right but there’re also other owning constellations that can be possible without being directly legally or financially connected to the inner circle of the royal family. It’s actually when you look at it from a neutral standpoint more likely that the Nine Two Foundation (NTF) could be a private consortium who’s cooperating with the Qatar Islamic Bank. (QIB)
They probably have to seek some kind of blessing from the ruling family but that itself doesn’t mean legally it’s a state bid. Qatar is a very small country with an original population less than 400 000 people so it’s totally understandable if there’re national regulations to protect the state of Qatar how national banks and investors can do business and invest money outside there own country. It’s ignorant and actually a little bit xenophobic to assume that everything from that region is done with bad intentions.
As mention earlier today in this thread there’re a lots of synergy effects of owning a world wide know football club like MU if they build a eco system around this purchase the right way. Without going into to details it’s more than likely that the NTF has a financial business plan that generate value to QIB and involved investors that is seen as a financial risk worth taking. Not to mention goodwill and other intangible values.
Finally we have so far no clue whatsoever about Sheik Jassim political and religious view about human rights. He had his education in a western university and has been working in European countries for a large part of his life, off course it will influence how he look at these issues. Instead of assume the worst maybe a ownership of a world wide known sport club can contribute to some sort of positive evolution in his home country.
Isn’t that we all want if we truly care about human rights?
The PL should have never allowed these types of owners from the off. That's where the real issue lies. City deal should never have been allowed or the Newcastle one. It's one thing allowing rich business men in but it's another to let a effectively a state have control over one of our clubs for political purposes.
Not sure the PL can do anything now. It's too late. Pandora's box was opened.
Not sure the PL can do anything now. It's too late. Pandora's box was opened.
Of course, at some level the Qatari state are backing this takeover.
I don't want United to be state owned but if this truly isn't state backed bid, then we as United fans should be worried. As we haven't a clue where all these billions for purchase and promised infrastructure upgrades would be coming from.
He's worth over £20b.
I'd say we've already sleepwalked into it with Saudi Arabia, Abu Dhabi and Russia. Now it's just a case of do you let yourself get bought or watch on while other clubs get bought in a oil club lockout at the top of the league most seasons. United can't take on 4-5 oil clubs.
I'd rather have no state clubs and actual swift and harsh punishment for dodgy sponsorships and flouting ffp but we're 20 years too late.
Oh there you really showed me how ad hominem arguments wouldn’t be used.
Because depending on the corporate structure INEOS might still be the parent company. There's a million ways that could play out to be the club's problem. If INEOS has plans to touch club money the debt being on their books is as good as a paper mache bulletproof. Then depending on the loan structure the lenders can attach conditions allowing them to go after assets of parent or subsidiary, the bank will use all the protections they can before fronting a billion dollar loan.
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Actually no one made any money from football clubs in England until the rules about such things were changed in 1980s - it was the Edwards family (and a few other owners, Spurs in particular) who pushed for that.
I dont even know what that means but I refer you to this post: https://www.redcafe.net/threads/gla...ic-and-post-respectfully.474085/post-30306153
I don't care about ad hominem's BS. I was always taught not to believe everything that is written and to challenge the information given and its source
Well clearly they can, if they were run well by a rich company that didn’t need to leverage debt onto the club and invested in infrastructure.
United, Real, Barca, Bayern & to an extent Liverpool are clubs that with right investment can absolutely challenge them.
Now an oil owned United, that’d could be a game changer for Real, Barca, Bayern, Liverpool.
A Saudi individual or the Saudi state?
Agree with all this - a fair summary
Lots of people making assumptions based on very little
Clearly, and as you’re posting on a iphone I hope you never complained about the war in Iraq, or the disgusting withdrawal of US Troops from Afghanistan.
Ridiculous statement
Every owner has extracted money from clubs and has made profits. There are more than one ways to make money from owning a football club too.
This is a company with revenues of over £60b and an owner worth £20b. This isn't the Glazers we are talking about here. What doomsday scenario do you see happening? Again if he's promised not to saddle the club with debt what does it matter?
https://www.middleeastmonitor.com/2...with-ties-to-mbs-buys-shares-in-uk-newspaper/
https://en.m.wikipedia.org/wiki/Evgeny_Lebedev
I wonder what Delaney think about that
I own a Samsung. I am not the hypocrite who complain about Qatari bid for some football club while working for a so called independent media owned a Russian oligarch and a shady saudi investor
Didn't recognise MBS there at first. Never seen him without his keffiyeh.
This is spot on Funds will be made available with no interest, but they will own a stake in the club. The initial £5.5-5.7bn will be the first stage of potential
Investment up to £8-10bn over a 5 year period. The rest of the shares approx 700,000 at $20-21 will be then bought to take the club off the stock market and make it Privately owned. They may then settle the debt as they have bought controlling 69% voting shares and for a short period the club will trade as normal on NYSE. The only question is will the bid of £5.5-5.8m include the £620m debt or will this be paid off after the glaziers shares have been sold. Transfer activity will not need huge investment as the club will use its existing credit lines for this summer once the debt has been cleared.
The Qatari bid if successful will then have a 4/6 week as the preferred bidder which basically means the house is bought, exchanged but not completed so things can still go wrong however during this time, Qatari bankers will be working on the financials to buy the club and take the club off the stock market but at the same time closely working with Arnold, Murtourgh and new Exec Director Matt Hargreaves, which may be a Qatari appointment already as the ‘Director of Football Negotiations’ The fact this guy used to work for adidas and probably has a list of top players around Europe with details of club and sponsorship contracts means we might just become more efficient this summer.
60bn doesn't mean 60bn in cash or lliquidity. That's why this loan thing even exists in the first place. People need to stop shouting their net worth like we don't have google. We know their net worth and it doesn't necessarily mean jack shit. How do you suppose billion dollar companies go bankrupt? There's more to financial health than quoting net worth figures
oops
good spot.Hence the hypocrisy. The other investor seems to be Putin's less successful cousin. Their career path is very similar
Which makes you wonder why Delaney is taking issue with one and not the other?
I was looking at dollars, but the point still stands. He's worth more than what the asking price is.
60b does mean that they have the capital to service their debt. That's why it's important.
He's likely just the front man. The Qataris will be happy for him to be the face of the bid, but when it comes to due diligence and negotiating the asking price, it is time for the grown ups to take over - that's who we saw at OT this week.
feel free to show me any proof of thisRidiculous statement
Every owner has extracted money from clubs and has made profits. There are more than one ways to make money from owning a football club too.
Meanwhile you can educate yourself here: https://publications.parliament.uk/pa/cm201012/cmselect/cmcumeds/792/79205.htm
Cracking report, thank you. So owners could only take 5% pa, contrary to my earlier thoughts.
Off-topic but the section on the Football League is interesting too. A lot of people seem completely unaware of how successful our 'second tier' is, the 4th or 5th best supported league in Europe, not the 4th or 5th of the second tiers, the 4th or 5th of them all.
bending over and making excuses already. All the shit City and Newcastle fans say, just getting right ahead of it.
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Yeah I’m not dead set against the Jassim bid, but there are so many questions unanswered that it makes me doubtful - and I’m shocked that so many just accept this bid at face value and question nothing.
You would never guess we were approaching one of the best days in Utd’s modern history with the pending departure of Glazers. Exciting times ahead.
I don’t ever want to see those 2 penny pony tails ever again.
I don’t ever want to see those 2 penny pony tails ever again.
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