Ben Jacobs Profile picture
Mar 2 6 tweets 2 min read
Amnesty International say the Premier League must "re-examine the assurances" given about Saudi state control of Newcastle. It's after #NUFC chair Yasir Al-Rumayyan was described as "a sitting minister of the government" with "sovereign immunity" in a US court case. Image
Statements came via lawyers representing LIV Golf (owned by PIF). San Francisco court approved PGA Tour's request to include Al-Rumayyan as a defendant in lawsuit against LIV. PIF say Al-Rumayyan is "not [an] ordinary third party subject to basic discovery relevance standards".
Premier League chief executive Richard Masters has said in the past if evidence of state involvement in the running of Newcastle "we can remove the consortium".
Newcastle still argue legal separation and maintain Al-Rumayyan being referred to as "a sitting minister" doesn't change anything. Interesting to know whether the Premier League already knew this. Ultimately, the #NUFC takeover went through because the piracy issue was resolved.
The Premier League or Newcastle are still yet to explain with any clarity or detail either the delay or sudden approval of the #NUFC takeover, or what "legally binding assurances" actually means in practice, beyond just being a bit of paper.
As I've said many times, #NUFC are great club, and the ownership group has done wonderful things on the football side. But whole takeover saga was about transparency. PIF constantly said they had nothing to hide. Yet they are yet to engage or answer questions with media or fans.

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More from @JacobsBen

Mar 4
A bit of context as to what happens next in the #MUFC sale process. Due diligence is by no means simple. All bidders, outright or minority, undertake the same tasks. It's an enormous amount of work, which in the Chelsea sale (also handled by Raine) was done at super speed. Image
Due Diligence isn't just about checking numbers or valuing #MUFC. Suitors will be looking at financial, operational and legal information about the club and undertaking tax due diligence as well.
Things can be expedited (especially if Raine, as anticipated, establish a hard second-phase deadline), but a traditional takeover would see due diligence last for 2-3 months, so anything less is considered pretty quick.
Read 6 tweets
Mar 4
Both Sheikh Jassim bin Hamad Al Thani and Sir Jim Ratcliffe have been put through to the next stage of the #MUFC bidding process, as @TeleFootball report. Neither group has received detailed feedback yet or been given access to start due diligence. This is expected next week. Image
Understand second bids will be given quite a tight deadline (with Chelsea it was within a month). And then, if the Glazers choose to proceed further, a preferred bidder could be selected. Both outright and minority investors have been put through.
Qatar's bid is "all or nothing" meaning Sheikh Jassim has no interest in minority investment or a staggered route to get to outright ownership. The make up of his Nine Two Foundation is also expected to be clarified further soon.
Read 6 tweets
Mar 3
🗣️ Graham Potter on Leeds and Dortmund being make or break games. "I don’t look at it like that. I tend to focus on the next match. We know the situation we are in. We need to improve on the results, which have not been good enough..." Image
🗣️ Potter on Mason Mount. "Mason has been great to work with. He’s been top. He’s suffering like the rest of us because we want better results. In terms of the contract that’s between him and club." Image
🗣️ Potter on ownership backing. "There is support and of course I've spoken to them. I'm not going to hide behind that. The results haven’t been good enough and I'm responsible as coach… and all the noise that comes with it. My job is to stay focused and win the game tomorrow." Image
Read 5 tweets
Mar 2
🗣️ Richard Masters to #FTFootball on Chelsea spending. "I am not here to defend [them]. The new owners have owned the club for less than a year. They've had two transfer windows. You need to judge the football club after three or four years... Image
"They might have bought, but they would probably argue they have a different transfer policy to the previous regime with younger players, longer contracts and lower wages...
"Within our rules it's a test over a 12-month period, so the question is whether they are going to sell some of their existing players in the next window. I am not here to defend them but you have to judge these things over a period of time."
Read 9 tweets
Feb 17
Jim Ratcliffe's INEOS have also submitted their bid to buy #MUFC. Ratcliffe's initial valuation is lower than Qatar's, but price is changeable as bidding process continues. Ratcliffe has what's being termed a "fan-centric" approach and is a life-long #MUFC fan.
Ratcliffe felt last year that the Glazers didn't want to sell the club. He told FT, "They don't want to sell it... we can't sit around hoping one day #MUFC will become available."
Sources close to Ratcliffe say although money will be borrowed to finance any deal, INEOS will assume the debt. It will not be burdened on #MUFC.
Read 4 tweets
Feb 17
Sheikh Jassim bin Hamad Al Thani is "confident" in his #MUFC bid. But important to stress it is only an initial offer, and one that will be changeable. Now the real due diligence starts, which will define the final number. The confidence comes from the fact it's a debt-free bid.
The aim of this part of the process is to get through to the next stage. As a result, Nine Two Foundation have not tabled anything close to £6bn. Well-placed sources say the offer is "competitive but only a first bid."
But the group have worked "tirelessly" to not only assess their approach, personnel and strategy, but ensure their vision is clear: to invest in the club at all levels. As reported, it was seen as important they went public before the deadline and as quickly as possible.
Read 4 tweets

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