Kitman

He doesn't have to sell his shares anyway- he can just pay a dividend out and get a return that way. Either way, he'll only really get his cash back when the club is eventually sold. At that point the loan is irrelevant. It's the same choice between buying a wallet for £50 or the same wallet for £100, but it's already stuffed with £50 in notes. Same deal. Yeah, you're right, I wasn't thinking about dividends. I suppose there's a limit on what dividend you could pay if the company's making losses....

But the loans are interest free aren't they Matt? So isn't this really about getting your money out easily? Or do you think he will charge interest in the future? In any event I assume charging interest on shareholder debt would only make sense if the recipient of the interest is either in tax losses (or can access them) or is sitting in a tax haven (otherwise in an overall sense you've just transferrred tax to your parent co). If it's the latter I assume they'd have to pay withholding tax on interest payments anyway? And I vaguely recall you don't get anywhere with offshore companies these days if the ultimate owner is UK resident (which is why the likes of Philp Green are resident in Monaco). Hey ho. It's been years since I looked at UK tax.....

How is it tax efficient Matt? If there's a simple explanation...... Tax efficient or not, at some point he is going to want that money back and I'd wager NUFC will pay a high price when he does. Lending the money means he doesn't have to sell his shares to get his money back. As a fan I'd far rather he got paid back when he sells up and the money go to fund the team instead. But he's obviously entitled to have his money back at the end of the day, he gave it to the club to fund its operating losses in the first place.

indeed; from a 51 year old Blyth based Mackem. i'd have mentioned it sooner but it took a while to decode the spelling errors Dear me . Did it start "I see you have still had no luck catching me....?"

Probably a bunch of little pricks who can't take their drink. They'll no doubt end up with lifetime bans like the lad who sprayed where the sign used to be. It's a shame we couldn't be classy like the mackems and invade the pitch, assault opposition players, smash up a metro and smear the bogs walls with shit. That's what classy fans do... Or assault stewards, or tell lies at press conferences, or make death threats to the opposition manager or send threats by email as i've had since my post the other day....... Really? Idiots. Ironic really given the central message of your post. The truth obviously hurts.

How is it tax efficient Matt? If there's a simple explanation......

"Do I not like that! FACKING HELL REFEREE! FACKING HELL!"

I expect they have to spread the income over the 3 years i.e. you only book revenue for a particular season to the profit and loss account for that year

He has tried to educate you, and others like you, on this for years. When is YOUR man Ashley going to match the height of goal kicks under the previous owners? When will YOU, and others like you here and on N-O, admit that the current regime will never live up to the goal kick achievements of "Fat Fred"? Where is the "plan" to address this that YOU and the Anyone but Fred supporters said was so easy that any fool could do it? He has pointed this out for years and still you cannot see it. You couldn't make it up. YOU haven't answered my question chum. I've been saying these things for years but the grey man and the financial whizz kid still don't get it. YOU don't get the 14th highest goal kicks by selling YOUR best players and all the money going to Ashley's pocket. I'll answer your post when you put money on Krul not reaching the same goal kick height under Ashley than we saw under Shepherd. You complete shambles of a man. YOU said that the club could match the goal kicking achievements of "Fat Fred" with a "plan". Where is this plan? Where is the DoF now? Where did Spurs get with the DoF? Why are we now competing with Norwich, Wolves and Bolton for goal kicks? Why don't YOU answer my question at post #1305? Under "Fat Fred" we had the fourth best goalkeeper in the history of the football elague. How does YOUR man compare? As usual you have nothing to say. I don't know why I waste my time with you, the accountant and the Grey Man. You couldn't make it up.

Yes, cheerio thanks for everything

If that's right I suppose the good news would be that revenue will grow again on the back of that new deal. Plus we must be on the telly more these days. If Ashley stopped antagonising the fan base they might do a bit better mind

He has tried to educate you, and others like you, on this for years. When is YOUR man Ashley going to match the height of goal kicks under the previous owners? When will YOU, and others like you here and on N-O, admit that the current regime will never live up to the goal kick achievements of "Fat Fred"? Where is the "plan" to address this that YOU and the Anyone but Fred supporters said was so easy that any fool could do it? He has pointed this out for years and still you cannot see it. You couldn't make it up.

What does commercial income cover HF? Is it everything from shirts to pies, bars, restaurants etc? I wonder whether a bit of the shortfall is accounted for by the sponsorship deal......didn't the NR money get spent upfront by Shepherd leaving nowt left in the pot till the end of the deal? Or maybe that's ancient history....

I think he's an excellent squad player but if we want to hit the heights, we need a better player in the first team imo

Bollocks, frankly Mr Shankly

I agree, I don't think we'll get anything. Which is a shame as we've thrown away 4 points in the last 2 matches to lesser teams and we could do with a result

S'pose it's that old revenue vs profit argument. Possibly the reason they outsourced it in the first place was it wasn't making any money.....

Aren't they though? .....hang on, are you being sarcastic? Me? Never!

Graphs are fucking fantastic, aren't they? Almost as interesting as accounts.....

who's this squiggle we're trying to sign, is it Prince?

I do think the club is trying to improve the squad, just not as quickly as most of us would like. They're obviously trying to balance improvement with cost control too, which hampers the speed of progress. imo.

Great. Looking forward to the team being strengthened further in the summer.

meh