...and that's what brushing it under the carpet does to yesterday's news. We don't even know how minor their minor breach was as it wasn't sung from the rooftops. Now compare and contrast (both the reporting and the sanctions that followed) their recent minor breach to our 2014 minor breach.To be fair, still fails to acknowledge that United very recently failed FFP (Minor breach or no).............
This is an interesting move by Sheikh Mansour. If it goes through IMI (Sheikh Mansour's company) will be a passive investor. Jeff Zucker (RedBird) will have operational and management control. JZ was head of CNN for nine years. Both parties putting in £600 million each. Maybe a small part of the media will become a bit more City friendly. Don't hold your breath.Click on the link for the rest of the article.
Manchester City owner and UAE Deputy Prime Minister Sheikh Mansour bin Zayed Al Nahyan could be about to become the new owner of the struggling Telegraph and Spectator titles.
The Abu Dhabi-backed investment fund RedBird IMI said on Monday it had “reached an agreement to provide a package of loans to the Barclay family allowing them to pay off their debt to Lloyds Bank in full and bring the Telegraph and Spectator out of receivership.”
The titles were bought by brothers Frederick and (the now-late) David Barclay in 2004, however they were put on the market in June after Lloyds Banking Group seized control by appointing receivers over around £1.2bn of unpaid debts.
RedBird IMI is a joint venture between US fund RedBird Capital Partners and Sheikh Mansour’s International Media Investments. It described itself in its December 2022 launch announcement as “a joint venture investment vehicle focused on acquiring and investing in large scale media, entertainment and sports content properties on a global basis.”
A JV backed by Sheikh Mansour bin Zayed Al Nahyan's media investment vehicle claims to have “reached an agreement" to bring the Telegraph and Spectator out of receivership.www.prolificnorth.co.uk
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