Club Sale | It’s done!

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Brophs said:
Having had the misfortune of spending far too much of my time in board meetings, it’d be utterly fecking weird if any chair was as disengaged as the say Sheikh Jassim was.
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He wasn't the Chairman at Credit Suisse (which is what The Athletic article is about), just board member

He is now the Chairman at QIB and QInvest though

Anyway interesting to get some kind of insight into the bloke, still people getting him mixed up with a totally different Jassim
 
He like to be called JJ. Ignoring Coco melon..

J is the 10th letter in English alphabet. Two J makes it 20. No of titles that we have.. coincidence? Nope.

It's on..
 
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TrebleChamp99 said:
Most telling thing is he doesn't say when.
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That's because he is a nobody and knows nothing. According to him the sale has been on the verge of happening for the past 2 months. It's always "very soon". Just one last thing to be done. Rinse and repeat.

I don't understand why he is still allowed to be posted here.
 
Rood said:
He wasn't the Chairman at Credit Suisse (which is what The Athletic article is about), just board member

He is now the Chairman at QIB and QInvest though

Anyway interesting to get some kind of insight into the bloke, still people getting him mixed up with a totally different Jassim
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This is directly from The Athletic piece.

Although business would be largely conducted in English, one source says Jassim would often switch languages to consult his fellow Arabic speakers, then switch back to English when ready to speak with the Westerners in the room again.

This contributed to a sense that Jassim could be “difficult to read”. Sometimes, even though he would be chairing the meeting, he would almost appear uninterested in what was being discussed. It was not uncommon to see him cross his legs, look away from the table and, once again, start puffing on a cigar.

“Occasionally he’d come out with something and you think he was listening, then occasionally he’d come out with something else and you think, no, he wasn’t,” says a former associate. “Sometimes he really surprised you that he was on the pulse, then other times less so.”
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As to which board he was chairing at the time, I’m not sure that remotely affects the (fairly light-hearted) point I was making.
 
sglowrider said:
Or he misread the room or was given the wrong information -- that the Glazers didn't really want to leave esp Av and Joel.
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It has been widely reported throughout the process that Joel and Avram are reluctant to sell, but Darcie has borrowed heavily with her shares in united as security. With interest rates rising, dividends collapsing she wants - needs to cash in and has the support of the other three siblings.
It is six people with different wants, needs and opinions that are making the decision (or not making any decision so far) not one single entity.
 
Brophs said:
This is directly from The Athletic piece.



As to which board he was chairing at the time, I’m not sure that remotely affects the (fairly light-hearted) point I was making.
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Fair enough - if he was actually leading the meeting then that is a bit weird

Although I've also had the misfortune to be in board meetings lead by absolute nutters!
 
pocco said:
He sounds a right c*ck. I can imagine it will be a rollercoaster if he manages to get his hands on the club.
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Fergie will be passionately addressing the board and he’ll shout “Nae more” and Sheikh Jassim’s ears will prick up. “Bloody good, player. You think PSG will sell him to us?……..lol”.

Rood said:
Fair enough - if he was actually leading the meeting then that is a bit weird

Although I've also had the misfortune to be in board meetings lead by absolute nutters!
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Fair one.
 
pocco said:
He sounds a right c*ck. I can imagine it will be a rollercoaster if he manages to get his hands on the club.
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I wouldn't read too much into it, they're just trying to make SJ look incompetent. The Athletic have been pro Jim from the off.
 
Brophs said:
This is directly from The Athletic piece.



As to which board he was chairing at the time, I’m not sure that remotely affects the (fairly light-hearted) point I was making.
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Breaking news man is human and becomes disinterested at some things and is interested in others.
 
I actually like the Athletic piece on him.

I think regardless though people probably have their minds made up about him either way whether they read it or not.
 
pocco said:
He sounds a right c*ck. I can imagine it will be a rollercoaster if he manages to get his hands on the club.
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Hopefully it's Nemesis Inferno quality rather than the Smiler thing we got going on with the Glazers.
 
Woziak said:
That’s definitely sounds like a leveraged buyout, now banned by the EPL!
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The Ineos bid is(/was?) debt financing rather than an LBO. This would probably still be the case if Ratcliffe partners up with Carlyle et al to make an offer for all the Glazers' shares. For obvious reasons, the new Premier League rules are only concerned with LBOs, not debt financing.
 
Regarding leveraged buyouts, what’s stopping someone taking on responsibility for the debt and then gradually, season by season leveraging the debt back onto the club?

I have a suspicion that’s exactly what INEOS planned. If not leveraging it back on the club, eventually taking money out to service it.
 
sglowrider said:
It's just embarrassing that folks have doubted his actual existence. Just daft.
There are lots of businessmen or billionaires who prefer to be low key.
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But have you personally met him, shaken his hand to feel the warmth of his flesh, the gentle caress of his manicured fingers?

For all you know I am Sheikh Jassim
 
How can he have graduated from Sandhurst at 16? I thought Sandhurst was somewhere you went to from the age of 16 to train as an officer. I could easily be wrong of course, but I didn't think Sandhurst was a school as such and more of a military college.
 
shabin_d_great said:
He like to be called JJ. Ignoring Coco melon..

J is the 10th letter in English alphabet. Two J makes it 20. No of titles that we have.. coincidence? Nope.

It's on..
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This is the type of investigative work and inquisitive mind we are lacking on the Caf.
 
Pexbo said:
Regarding leveraged buyouts, what’s stopping someone taking on responsibility for the debt and then gradually, season by season leveraging the debt back onto the club?

I have a suspicion that’s exactly what INEOS planned. If not leveraging it back on the club, eventually taking money out to service it.
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You're asking if INEOS could acquire United with some portion of their bid being made up of debt (and you're comparing with an LBO given the use of debt?), then transfer the liability for that debt onto the club?

If so I don't think they can transfer the liability for the debt but they could choose to use any profits from United to pay off that debt, and I assume they probably would. I think they could in theory move debt between assets within their football division (which I assume will own United if they win) but that's something way beyond my knowledge and we'll need a lawyer to pipe up.
 
Tiber said:
Amazing how many foreign Royals come through Sandhurst. The tuck shop must look like Waitrose
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Probably not the thread to discuss this but it's no surprise that top generals and kings etc are educated in places like Sandhurst etc. Their relatives /ancestors probably came into Power due to help from your America or UK. This keeps the ties close and ensures the future generations are "tied down".
 
tomaldinho1 said:
You're asking if INEOS could acquire United with some portion of their bid being made up of debt (and you're comparing with an LBO given the use of debt?), then transfer the liability for that debt onto the club?

If so I don't think they can transfer the liability for the debt but they could choose to use any profits from United to pay off that debt, and I assume they probably would. I think they could in theory move debt between assets within their football division (which I assume will own United if they win) but that's something way beyond my knowledge and we'll need a lawyer to pipe up.
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Appreciate the response, thanks, but I’m asking why not specifically to this point.
 
Pexbo said:
Appreciate the response, thanks, but I’m asking why not specifically to this point.
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It would make zero sense to leverage it onto United.

I also wouldn't expect them to service the debt using United's money, but may do it using United for increased marketing/exposure.

Whatever is said of SJR/INEOS he isn't a stupid bloke and is quite an intelligent businessman unlike the tools we have now.

The way the glazers have ran things is abnormal and should be treated as such.
 
Marcelinho87 said:
It would make zero sense to leverage it onto United.

I also wouldn't expect them to service the debt using United's money, but may do it using United for increased marketing/exposure.

Whatever is said of SJR/INEOS he isn't a stupid bloke and is quite an intelligent businessman unlike the tools we have now.

The way the glazers have ran things is abnormal and should be treated as such.
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It would make sense if you were trying to circumvent the new LBO rules. Maybe the best interest rate you could secure is 16% and securing it against United could reduce that to 8%.

Obviously this is all theoretical and with United’s current debt it’s not worth it but the Glazers in 2005 could have done similar if the LBO rules were in force then.

Or… what I’m asking is if that could be blocked later down the line under the new LBO rules. My guess is that nobody knows right now, I’m just spitballing.
 
Pexbo said:
Regarding leveraged buyouts, what’s stopping someone taking on responsibility for the debt and then gradually, season by season leveraging the debt back onto the club?

I have a suspicion that’s exactly what INEOS planned. If not leveraging it back on the club, eventually taking money out to service it.
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Yes, it's possible (depending on the willingness of the lender, of course).
 
If the Sheikh overpays £2.5 Billion for United (we arent valued anywhere near 6 billion), there's no way on earth he aint coming in and just rocking this club to its core. Why would you pay that much for a club and not essentially be a cheat code within 3 years? If you overpay that much for the actual club, what is he going to do when its his (or his families) actual asset?
 
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