Sam

[Goatbeardz @GoatBeardzDD]

I was digging through old articles and found something that changes the $GME conversation.

Take a second. Read it.

https://t.co/4qir9vcdie

May 5th, 2026. Two days after the bid goes public.

EnterpriseAM - a Gulf Cooperation Council business daily out of the UAE - publishes a piece on the eBay acquisition.

The headline: “GameStop is turning to the GCC to fund its USD 55.5 bn bid for eBay.”

This publication has direct sourcing into Gulf sovereign wealth funds.

This is not Bloomberg speculating.

This is not CNBC asking pundits what they think.

This is a regional outlet reporting what SWFs are actually doing.

And their reporting looks NOTHING like Western coverage.

First, they NEVER MENTION the stock component.

Not once.

They model the deal as pure cash from day one:

- $9.4B GameStop cash
- $20B TD Securities debt
- ~$26B in SWF equity

That’s it.

No “half cash half stock.”

No “can GameStop even afford this?”

None of it.

They just did the math on what needs to be filled and reported who’s filling it.

Think about that.

While every Western analyst spent three months asking how a company 4x smaller than its target could possibly close this deal, the Arab financial press already had the answer.

The money was in the room before the bid was announced. GCC publications don’t speculate about sovereign wealth fund involvement.

If they published this two days after the bid, those conversations were happening BEFORE May 3rd.

The financing was pre-arranged.

It gets deeper.

They name PIF directly.

They compare this deal to PIF’s $55B leveraged buyout of EA through Savvy Games Group and its minority position in Nintendo.

PIF. EA. Nintendo.

Now eBay through GameStop.

A publication with Gulf sourcing doesn’t drop that comp casually.

That’s pattern recognition from people who watch these funds deploy capital every week.

Now connect TD Securities.

TD provides the $20B debt commitment on the eBay bid.

TD Bank is also the counterparty on the put/call pairs Cohen used to accumulate his eBay stake.

That’s not two separate relationships.

That’s the deal bank.

The debt, the derivatives, and the equity bridge all running through the same architecture.

So what did the Arab press actually tell us three months ago?

The stock component was never real.

The financing was locked before the bid went public.

And this is a pre-structured all-cash.

The answer was sitting in a UAE morning newsletter the entire time and nobody in Western markets was reading it.

[Sam @baz_samuel]

@diderot1999 @AdrienBrochier

[Sam @baz_samuel]

@Takuiem @AdrienBrochier

[Equipe de France ⭐⭐ @equipedefrance]

👀

[LVMH_Presse @LVMH_Presse]

Merci : la réaction de Bernard Arnault à « l’enquête » du Monde

[Sam @baz_samuel]

@RoaringSensei

[Sam @baz_samuel]

@zangoalpha

[Sam @baz_samuel]

@brivael

[unusual_whales @unusual_whales]

BREAKING: GameStop, $GME, now owns nearly 10% of eBay, $EBAY, per Reuters

[unusual_whales @unusual_whales]

GameStop, $GME, CEO Ryan Cohen said “we’re coming for eBay, $EBAY, one way or another."

[Sam @baz_samuel]

@brivael

[amit @amitisinvesting]

Sat down with Ryan Cohen, CEO of GameStop, to discuss his early starts in business, why he took a stake in GameStop 5 years ago, and why Ebay deserves a new home.

Thank you to @ryancohen for taking the time!

Timestamps:

00:00 - Intro
00:50 - Ryan's Beginnings in Business
05:50 - Why Pets?
12:20 - Why Enter into Gamestop
15:59 - Gamestop's Future
18:21 - Gamestop's Retail Community
23:10 - Collectibles TAM
26:09 - Why Ebay
30:45 - Ebay's response to the offer
36:20 - Ebay's Live Studio Play
38:00 - Agentic Commerce
41:08 - Rapid Fire

[Sam @baz_samuel]

@larryvc

[Sam @baz_samuel]

@brivael

[Sam @baz_samuel]

@GadSaad Wait for @KMbappe bro et vive la France ! 🇫🇷🇫🇷🇫🇷

[Sam @baz_samuel]

@BetterCallMedhi

[Ryan Cohen @ryancohen]

only in corporate america 💩

[Ryan Cohen @ryancohen]

on phone with customer support @eBay . please respond @eBay

[Ryan Cohen @ryancohen]

The people running eBay bought $0 of stock in the open market in the last 5 years.

eBay insiders sold more than $120M in the last 5 years.