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#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 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#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 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#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 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#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 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1012 | Ed and Dharnish conclude their tactical review of the season, focusing on Michael Carrick’s interim spell at United. Carrick’s appointment mean no return for Ole Gunnar Solskjaer and quickly produced results, with a focus on pragmatic but front-foot football. Carrick immediately installed a 4-2-3-1 system, highlighted by compact defending, fast transitions, plus one- and two-touch combinations in tight spaces. The strong results won him the job permanently, but slow starts and limited pressing/counter-pressing point to opportunities for improvement next season. What will Carrickball bring with the addition of more physical midfielders? 00:00 Introduction 02:23 Carrick Appointment Context 03:24 City Game Tactical Setup 05:47 Compact Defence and Transitions 09:06 Rondos and Quick Combinations 11:03 Results Run and Carrick's Pragmatism 16:03 Next Step: Pressing and Midfield Evolution 22:03 Transfer Wishlist and Squad Gaps 23:41 Carrick's Track Record 26:02 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1013 | Ed and Dominic discuss United’s deal to sign midfielder Ederson from Atalanta for around £35m plus add-ons. There’s been a muted reaction from fans but his standout physicality and counter-pressing should offer something the squad is missing, although concerns about his limited inventiveness in passing are fair. A useful squad option if United add two more midfielders, with Matheus Fernandes also progressing. There are rumors of United’s interest in Lewis Hall and Marcus Rashford has an uncertain future amid Barcelona’s spending. Finally, 12 United players will be going to World Cup and another 20 or so players and coaches have United connections. 00:00 Ederson Signs! 03:55 Analysing Ederson's Traits 08:10 Arsenal, PSG and the Rivalry 15:55 Matteus Fernandes 20:50 Lewis Hall 24:30 Rashford, Barcelona and Finances 33:29 World Cup Preview: United Connections 34:58 Football Shirts, Kickoff Times and 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1011 | Ed and Dharnish continue their tactical review of United’s season, covering the period from early November to Ruben Amorim’s January sacking. This period included a run of inconsistent, often drab matches saved only by United’s success from set-piece finishing. Then the turning point: 4-4 against Bournemouth, possibly United’s best attacking performance under Amorim, and a shift toward a back four. Only for Amorim, inexplicably, to return to a back three against the wishes of the club. 00:00 Part Two Overview 01:19 Set Pieces and the Autumn Run of Results 03:14 Why Was It Going Wrong? 05:14 Bournemouth 4-4: Amorim's Best Football 10:53 Back to a Back Three and the Wolves Debacle 14:20 Amorim's Sacking: Press Conference and Why He Failed 14:47 Could Amorim Have Found a Higher Ceiling? 24:17 Final Verdict and What Comes Next 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1010 | Ed and Dharnish begin a three-part season tactical review, covering the start of the campaign through the autumn and setting up later segments on Ruben Amarin’s downfall and Michael Carrick’s resurgence. There’s a review of early matches including Arsenal, Fulham, Burnley, City, Chelsea, Brentford, and a damaging loss at Grimsby. Why did Amorim lean into long balls, why wouldn’t he move away from his beloved 3-4-3, and why did he insist on playing his best players out of position ... or not at all? 00:00 Intro and Season Overview 01:18 Early Season: Amorim Ball 04:13 Grimsby and The Low Point 12:06 Attack Clicks and Set Pieces Saving Amorim 12:58 Pressing & Defensive Issues 19:39 Three Wins in a Row and Brighton 22:18 Transition to Part 2: Amorim's Downfall 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1009 | Ed and Jamie review United’s Q3 financial results, noting slightly better-than-expected revenue, improved operating profit versus last year’s loss, and a wage bill at its lowest share of revenue in about a decade, alongside raised guidance. However, United face weak liquidity - around £60m cash- with the revolver credit up to £260m, ongoing outflows for historic transfer fees, and the continuing constraint this places on squad rebuilding. There’s a discussion around the confirmed costs of hiring and firing Amorim (£16.7m compensation plus a £5.2m write-off), the need to refinance roughly £750m of debt amid uncertain interest rates, limited progress on the new stadium, and a Betway training kit deal reported at £20m per year. Player sales continue to be important! 00:00 Introduction and Q3 Headlines 02:11 Financial Results Deep Dive 07:11 Cash, Debt and Transfer Budget 12:51 Carrick and Summer Strategy 16:37 Amorim Compensation Costs 19:37 Debt Refinancing and Stadium Update 26:47 Sponsorship: Betway, DXC 31:53 Player Trading 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices

#1000 | Ed and Paul reminisce about 1000 episodes of Rant Cast/NQAT, from its origins as a weekly phone call, to committing to recording every week, and then the expanding NQAT universe over the past couple of seasons. The conversation turns to United’s post-Fergie decline and Ed Woodward, the Glazers’ ownership, Ratcliffe’s restructuring, and optimism about Michael Carrick’s steadying impact, squad depth, transfers, and a Champions League schedule next season. 00:00 Introduction 00:27 The Lost 1000th Episode 02:00 Sunday's Game vs Brighton 03:48 Origins of the Podcast 05:47 How the Show Grew 10:10 YouTube and the Expanded NQAT Universe 13:58 Football Finance and Data Nerd Communities 19:25 United's Decline Since The Fergie Era 21:06 The Ed Woodward Years 25:57 Ratcliffe, Ineos and the Cultural Reset 39:14 Next Season: Squad Needs and the Summer Window 46:47 Michael Carrick 01:04:47 Wrapping 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. Learn more about your ad choices. Visit podcastchoices.com/adchoices