No. Refinancing existing debt on INEOS books. United would be debt free.So adding more debt on?
United are too big a club to be ignored. It is not like we were an irrelevant club like City until the money arrived.However, anything United achieve under Qatari ownership will be seen as such whether we see it as pointless or not. You know it will. Valid or not.
It is something I have questioned previously on here but still been argued against. For me it’s an instant and easy PR win for them to say they will clear the existing debt immediately. They are clearly trying to put out good PR around the bid. It doesn’t make sense to miss out mentioning something would be fundamental in winning that PR battle. Hence why it leans towards the fact they probably aren’t wiping out the existing debt which is being backed by Tier 1 sources.
Tbh, right now I couldn’t give a crap who wins the bid. I’d be happy if Rishi Sunak’ wife wins it as long as it’s all over.
That doesn’t clarify anything in relation to what’s being discussed. No mention of existing debt being cleared. Just states they will help finance the debt beyond what already exists.
Or change their username hereGetting closer , some people will have sadly have to find a new club according to posts in this thread.
United are too big a club to be ignored. It is not like we were an irrelevant club like City until the money arrived.
Getting on the payroll before the takeover, just like they all did when City got bought. They'll be a wave of positive Qatari ownership pieces in the coming weeks, just watch.Ducker, Wallace, Morgan and the Chief business correspondent for the newspaper, Oliver Gill, have put their name to this piece.
It amazes me when people sneer at other fans because they don’t want the club associated with state ownership.Getting closer , some people will have sadly have to find a new club according to posts in this thread.
Bye Jim
Goldman Sachs and JPMorgan Chase and Co are understood to be helping bankroll Ratcliffe's offer with bonds and loans beyond the value of United’s existing gross debt of £680m.
The Oldham born businessman’s track record of successful investments makes him as safe bet as anyone for loans. But the rescue of Credit Suisse by arch rival UBS over the weekend - and associated write off of $17 billion of loans - means investment banks are wary about exposing themselves to losses.
In recent days, Barclays has shelved two loans for Ratcliffe's Ineos Enterprises, according to Bloomberg. Sources close to the billionaire were dismissive of the prospect market conditions could in any way hamper his bid.
You can't say the same for the Qatari bid. Now you could make a case that the Qataris are doing so too, but just in a much more discrete manner, however that hasn't been verified yet.
Is that David Gill's son who used to play in the academy but retired to pursue his education?Ducker, Wallace, Morgan and the Chief business correspondent for the newspaper, Oliver Gill, have put their name to this piece.
No, it's this bloke:Is that David Gill's son who used to play in the academy but retired to pursue his education?
It amazes me when people sneer at other fans because they don’t want the club associated with state ownership.
People are blinded from being stuck in one side of the debate imo. a lot of the people on the Qatar side are simply fans who have accepted the situation while being yelled at by fans who are not yet there.It amazes me when people sneer at other fans because they don’t want the club associated with state ownership.
Inferiority complex?It amazes me when people sneer at other fans because they don’t want the club associated with state ownership.
I don’t think that’s what it is saying at all. To me it is saying in his bid he’s borrowing more than our existing debt to purchase the club.https://www.google.com/url?q=https:...MQFnoECAQQAg&usg=AOvVaw28Gw-CZ97VWZK7HyQrg_5C
This is similar to what Bloomberg reported last month about the debt potentially being cleared as part of the finance package Jimbo has agreed.
They've started quoting Qatari sources already. Quotes below from the latest telegraph pieceGetting on the payroll before the takeover, just like they all did when City got bought. They'll be a wave of positive Qatari ownership pieces in the coming weeks, just watch.
Your correct. And exactly as I've been saying all along....I don’t think that’s what it is saying at all. To me it is saying in his bid he’s borrowing more than our existing debt to purchase the club.
There is a significant and important distinction in how these bids would be financed:
Qatar will basically have the money to hand to enable the purchase which means they won't be tied to any debt/interest repayments and will be happy for a return in the long run having increased the value of the club.
SJR on the other hand is approaching JP, Sachs etc to confirm that they will finance the bid. This in effect will most likely lump absolutely incredible amounts of debt on the club that will need to be repaid.
It will be like the Glazer takeover on steroids.
Bye Jim
So you are saying it's worse that a small club is state-owned rather than a big club? That seems like a rather one-sided and biased POV.Practically speaking it’s a huge difference because the club’s status has been achieved without being solely propped up by independent wealth.
I was just correcting the notion that he’s borrowing to clear the existing debt - which isn’t what that article is saying but I don’t agree with your take. The additional debt will be placed on INEOS - the club isn’t liable for it so nothing like Glazers on steroids. I personally don’t see it as surprising someone is having to borrow at least 700m in a 5bn purchase. That’s perfectly normal.Your correct. And exactly as I've been saying all along....
Very much so. Very easy way of getting support.It is puzzling that Ratcliffe's publicity machine have not said anything as part of their charm offensive?