Pankashoman

bro, my hate for Arsenal is equivalent to my love for Chelsea.

There are no ATMs in Eritrea.

Global shipping efficiency could be drastically improved if Africa didn't exist:

i have different names, any name you call me with i know where you know me from.

🚨 After discovering from Greg that Blueco burned £43.5m in cash per month, the other number he reported became very important. Where did that £450m in equity investment come from? I actually thought there might be silver lining, but with Blueco there are never any good surprises. Remember the £1.7bn Roman required Blueco to invest in a stadium? Well that has now been fully deployed on mediocre players and director’s wages, but here is how it was funded: Ares PIK loan £500m JPM/BOA loan £750m Owners equity £450m Total -> £1,700m The £450m equity contribution, confirmed in the 2025 accounts, is the final piece of the puzzle. That was the cash used to fund the internal asset purchases, while the debt was used to buy all the players. Here’s the problem; until we see something else in the news, there is no more money coming! The two Clearlake funds that funded the equity, CCP VII and COP III, both closed in May 2022. That means they cannot make further cash calls on their investors. In words, the committed capital is now fully blown. What remains at FY2025 is £129m in cash, £1.4b of debt and operating losses almost as big as Arsenal’s annual turnover.

Global shipping efficiency could be drastically improved if Africa didn't exist:

Imagine if colonization never happened. Well, you don’t need to imagine anymore.