Episode
United Inc: Chelsea Cheating and Crude Chaos
- Published
- Mar 19, 2026
- Duration seconds
- 2851
- Processing state
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Summary
#989 | Ed and Jamie discuss a Premier League settlement with Chelsea over £47 million worth of undisclosed, off-book payments to players, agents and third parties from 20011–2018, involving names including Samuel Eto’o, Eden Hazard and David Luiz. The £10m fine and suspended transfer/youth-player bans show inconsistent rule enforcement versus PSR points deductions for clubs like Everton and could weaken the Premier League’s position in Manchester City’s case, while signalling cooperation and ownership change can reduce sporting sanctions. It's incredibly lenient. There's an examination of how a Gulf-wide conflict has driven crude oil from about $65 to ~$105, pressuring INEOS’ thin-margin, highly leveraged petrochemicals business, potentially delaying or complicating refinancing at INEOS and United amid reduced prospects of Fed interest rate cuts. The conversation finishes on the potential impact around United's new stadium in a high-rate, high-cost environment. 00:00 Introduction 03:09 Chelsea's Off-Book Payments 07:09 Premier League's Lenient Penalty 17:45 Implications for Man City's Case 20:23 The Abramovich Fund 22:15 War in the Gulf and Oil Price Shock 28:33 Impact on United's Refinancing and Ownership 32:43 New Stadium Challenges 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