No Question About That - a Manchester United podcast

#1049 | Manchester United's full-year financials landed the same week as defeats to City and Brighton and a draw at Fulham. Ed and Jamie's read is that the numbers tell a positive story: record revenue of £677.6 million, operating cash flow more than double what United generated the previous year, and a smaller real interest bill than the eye-catching accounting figure implies.

The episode works through where the financial resilience came from: ticket price rises, strong retail performance offsetting lost sponsors.

There's the £63.5 million spent on stadium land as the first sign of what United plan to do with the extra cash, and an explainer of INEOS's own complicated, heavily leveraged business, useful context for anyone hoping Jim Ratcliffe can simply write a bigger cheque.

The episode closes on ownership: the price floor on a new buyer lifts in 2027, but with almost nobody left in the world both able and willing to pay Glazer-level prices for the club, don't expect a takeover any time soon.

0:27 Welcome and what's coming up

3:15 Full year financials: headline numbers

5:28 Matchday, ticketing and commercial revenue

10:04 Profitability and cash flow

14:43 Debt, interest and the stadium land

23:14 Guidance

28:50 INEOS explained

35:10 Ownership, the 2027 price floor and potential buyers

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#1048 | United Women are three games into new manager Eva Olid's reign: defeat to London City Lionesses, hammered by Chelsea, then a much-improved 1-1 draw at Arsenal, undone by a 95th-minute equaliser.

Ed and Andy assess Eva Olid's start given the circumstances, a very late appointment, barely any pre-season, no marquee signings.

There were some interesting changes at Arsenal, with Andrea Medina's shift into midfield the standout tactical call and performance of the three games so far.

Then there's some winnable fixtures ahead: Sheffield United in the League Cup and West Ham in the league, both real chances to record a first win.

0:00 Welcome, Andy

1:05 Draw with Arsenal

6:28 Assessing Eva Olid

13:02 Season expectations

24:01 League Cup

26:35 West Ham preview

28:34 WSL title race

31:18 Wrap-up

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If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page or subscribe on Apple Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube. Hit that subscribe button, leave a rating and write a review on Apple or Spotify.
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#1047 | Another week another crisis? After United’s draw at Fulham, Ed and Dharnish push back on the reaction, arguing the underlying picture (29 shots, nearly 3 xG, more shots and box touches than any team in the league this season) suggests better times ahead. Shifts in fine margins turned this game into a mediocre week rather than a crisis.The real issue is a press that keeps failing because Bruno and Rashford aren't suited to it. Carrick keeps asking them to do it anyway. In possession, the double false-nine setup leaves progression looking attractive, but nobody is actually in the box when it matters. This needs fixing before results turn even worse. They also take apart the widely shared running-stats graphic, arguing it reflects a possession-heavy style rather than laziness, using City's own numbers as the comparison.

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0:27 Intro: another United draw
2:38 Is it really that bad? The xG case
5:12 Pressing issues
10:12 Midblock or press? Personnel and compromise
12:50 In possession: breaking down in the final third
16:44 Attacking dynamics and Bruno's role
27:08 Running stats
33:05 Wrap-up

If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page or subscribe on Apple Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube. Hit that subscribe button, leave a rating and write a review on Apple or Spotify.
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#1046 | United walked away from Fulham with a draw, Mateus Cunha's equaliser cancelling out Lisandro Martinez’ own goal. Fulham were there for the taking though. United had 29 shots, 57% possession, and somehow still seemed very passive when it mattered. No disaster, but yet more points leaking away.

Ed and Wayne look back on a performance that felt very familiar. The same tactical patterns are playing out. And the same weaknesses in the squad are evident too. The international break offers a moment to reset.

We end with a check-in on Wayne's new book. Ferguson, The Lost Tapes.

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0:00 Introduction

1:05 Team selection

15:45 Defence, build-up and player profiles

22:56 Carrick's game model

27:31 Ownership, finances and transfer strategy

35:15 Martinez's own goal

47:14 Verdict on Carrick

50:23 International break

55:07 Wayne's new book and sign-off

If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page or subscribe on Apple Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube. Hit that subscribe button, leave a rating and write a review on Apple or Spotify.
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#1045 | Ed and Dharnish discuss United’s 3-2 defeat to Brighton in the Carabao Cup. United’s heavily rotated side led 2-0 before collapsing, with an increasingly ugly atmosphere at Old Trafford on display.

Shea Lacey's goal and a well-worked press that teed up Mount for the second were the rare bright spots in an otherwise chaotic performance from United.

There’s already a bigger question: are United’s results this season down to bad individual performances, or something wrong with Carrick's actual game model? There’s no easy answer, especially given how comfortably this same group won games last season doing something much simpler.

There's also a discussion of the JJ Gabriel contract saga, with both urging caution about how much scrutiny a 15-year-old should be under. But scepticism that his camp's version of events reflects what United would realistically have offered. They close by previewing Fulham this weekend.

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Ready to have an AI that can tackle real work? Try Claude Cowork today — Claude.ai/NQAT
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0:00 Introduction: 3-2 Carabao Cup defeat to Brighton
1:31 Reaction: anger at Old Trafford
4:13 Positives: Shea Lacey
7:00 Yoro and Heaven
12:16 Midfield, Mount and Sesko's night
20:19 Is something fundamentally wrong with Carrick's game model?
31:55 JJ Gabriel contract saga
48:02 Fulham preview
55:30 Wrap

If you are interested in supporting the show and accessing a weekly exclusive bonus episode, check out our Patreon page or subscribe on Apple Podcasts. Supporter funded episodes are ad-free. NQAT is available on all podcast apps and in video on YouTube. Hit that subscribe button, leave a rating and write a review on Apple or Spotify.
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