United Inc: Refinancing Explained

New Trafford Moves a Step Closer

#1018 | Ed and Dan on United's step towards a new Old Trafford after the club bought 25 acres next door. Should United move? And if it's inevitable, can the club keep its history and avoid another concrete bowl? On the money, a warning against the simple version: this will be structured, debt, equity, naming rights and personal seat licences, not one clean option. Then transfers: André Onana's loan to Trabzonspor confirmed, the midfield rebuild stalling, £40m on Ederson, hot competition for Mateus Fernandes, and a question mark over Aurélien Tchouaméni. The World Cup closes out the show, with underdogs entertaining while England's balance, selection and struggle against Ghana's low-block all come under fire. 00:00 Introduction 01:56 New Stadium Debate 03:01 Old Trafford: Heritage vs Progress 04:08 Stadium Financing 19:01 Transfer Window: Midfield Rebuild 21:33 Fernandes and Spending Strategy 38:14 World Cup, England, Group Stages If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page [https://www.patreon.com/bePatron?u=3611755] or subscribe on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube [https://www.youtube.com/@noquestionaboutthat]. Hit that subscribe button, leave a rating and write a review on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] or Spotify [https://open.spotify.com/show/6Y5ocXvUHXg7adtsqN3jO1]. Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

United Inc: Refinancing Explained

#1017 | It might be the World Cup, but Ed and Jamie talk football finance with Manchester United refinancing $425m of bonds - replacing them with a $550m private placement. Gross annual interest is up, but with the maturity pushed out and some expensive rolling debt replaced, the impact on United’s bottom line isn’t as serious as some reports.  From there, there’s some speculation about how the refinancing impacts the new stadium and what United are likely to do on that front.  Then the Bloomberg report that some of the Glazers may sell: the control mechanics, the 2027 clauses, and why outside institutional money sits more comfortably in a stadium vehicle than in the club itself. Finally, Amazon's All or Nothing closes the discussion, its marketing upside against the familiar PR risk. 00:00 Intro and World Cup chat 02:26 United's refinancing 12:46 Stadium financing 18:29 Glazer ownership and a possible sale 29:05 Amazon's All or Nothing 35:13 Transfers and Amorim’s payoff If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page [https://www.patreon.com/bePatron?u=3611755] or subscribe on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube [https://www.youtube.com/@noquestionaboutthat]. Hit that subscribe button, leave a rating and write a review on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] or Spotify [https://open.spotify.com/show/6Y5ocXvUHXg7adtsqN3jO1]. Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

Rashford Redemption Arc

#1016 | Ed and Wayne talk about England's win over Croatia, in which a wobbly first half was followed by a much stronger second. Tuchel’s substitutions, a standout performance from Jude Bellingham, and a Marcus Rashford goal all helped England pick up three points. But is the balance in midfield right and how will heat and humidity impact the team in the coming games? Beyond England, Ed and Wayne have been enjoying the expanded tournament, the performance of smaller nations and new refereeing standards. The revived Messi vs Ronaldo debate gets short shrift though! Then a quick touch on United: players who are performing well in the World Cup, a new Amazon documentary is announced, and there's a new book and podcast series by Wayne. 00:00 England v Croatia, the opener 08:17 Rice, Bellingham and Anderson 16:14 Harry Kane and England's depth 20:19 Messi, Ronaldo and records 25:27 48-team expansion and format 27:27 Refereeing and VAR 34:57 United players at the World Cup 38:33 Transfers and the Amazon documentary 44:32 Wayne's book and podcast If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page [https://www.patreon.com/bePatron?u=3611755] or subscribe on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube [https://www.youtube.com/@noquestionaboutthat]. Hit that subscribe button, leave a rating and write a review on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] or Spotify [https://open.spotify.com/show/6Y5ocXvUHXg7adtsqN3jO1]. Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

World Cup Preview Part 2: The United Storylines

#1015 | Ed and Dharnish continue the World Cup preview, working through the groups with the United-related storylines front and centre. There are players, past and present, in across the World Cup groups: Casemiro, Ederson and Matheus Cunha with Brazil, alongside Morocco's Noussair Mazraoui and Sofyan Amrabat; Scotland's Scott McTominay and late call-up Tyler Fletcher; Turkey's reserve keeper Altay Bayindir; Ivory Coast's Amad; a cluster of ex-United names in the Netherlands, Japan, Tunisia and Sweden groups such as Depay, Weghorst, Hannibal, Lindelöf, and Elanga; Belgium's Lukaku; Portugal's Bruno Fernandes, Diogo Dalot and Cristiano Ronaldo; Argentina's Lisandro Martínez. The show ends with a deeper dive into England with some interesting choices made by Tuchel already. Will it pay off? Then there are some predictions. Terrible ones, no doubt. 00:00 Intro 04:41 Group A 05:42 Group B 06:35 Group C 12:33 Group D 15:30 Ad Break 1 15:48 Group E 19:25 Group F 22:20 Group G 26:16 Group H 29:28 Group I 34:53 Group J 36:29 Group K 41:08 Ad Break 2 41:29 Group L 50:41 Close & Predictions If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page [https://www.patreon.com/bePatron?u=3611755] or subscribe on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube [https://www.youtube.com/@noquestionaboutthat]. Hit that subscribe button, leave a rating and write a review on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] or Spotify [https://open.spotify.com/show/6Y5ocXvUHXg7adtsqN3jO1]. Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]

World Cup Preview Part 1: Everything but the Football

#1014 | Ed and Tom look past the football at the expanded 2026 World Cup in the US. The focus is the off-pitch mess: visa and border problems, geopolitical tension, and reports of players and staff held for long stretches at US border control. Bans restricting fans from certain countries sit awkwardly against the tournament's "welcome the world" branding, and the gap between the message and the environment gets a hard look. Ticketing comes in for the heaviest criticism. FIFA's high, dynamically priced model and its resale marketplaces amount to legalised touting, with fees stacked on top. The result might well be uneven pricing and stadiums that sit half empty. Player welfare closes things out. Heat and humidity, water breaks that double as ad slots, and pitches rolled out over NFL turf all point to conditions built for revenue rather than the people on the field. Behind it sits FIFA's $13bn revenue target and Infantino's grip on the money through FIFA Forward. 00:00 Introduction 03:52 Geopolitics and Iran 05:02 Visa Bans and Fan Access 13:37 Ticket Prices and FIFA's Money 14:42 FIFA's Revenue  22:59 Infantino and the FIFA Forward Programme 35:32 Player Welfare, Heat and Pitches 44:24 Stadium Experience and American Sports Culture 51:49 Wrap-Up If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page [https://www.patreon.com/bePatron?u=3611755] or subscribe on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube [https://www.youtube.com/@noquestionaboutthat]. Hit that subscribe button, leave a rating and write a review on Apple [https://podcasts.apple.com/gb/podcast/no-question-about-that/id327751771] or Spotify [https://open.spotify.com/show/6Y5ocXvUHXg7adtsqN3jO1]. Learn more about your ad choices. Visit podcastchoices.com/adchoices [https://podcastchoices.com/adchoices]