Park Life

This selling lark ain't gonna be so easy.

I mean I'd rather file for it now before Ashley runs the club into the ground and (as me and Pud suspect) divert the cash. I agree Ashley wants to wait till the last possible minute for a buyer even though he doesn't want to put anymore money in as he's said a couple of times now. I don't understand the legal fine points but he will ultimately force it by not paying people/things as he's started to do. The club is seriously short of real assets apart from the odd player that can be converted.

Fuck me another numpty talking about getting money for selling players on N.O.

What's the club worth now in the CCC? With virtually no player assets. Support on the verge of walking away. God knows what owed to who all over the place. Running on credit from Barclays Bank.

It happens when they just want to write off debts rather than digging themselves deeper, it's actually pretty similar to what initially happened to Darlington FC. Which is why it's been hanging over us since relegation, and one of the potential reasons for relegation to be such a nightmare. You'd have to hope that Assley would want to keep the club going and hope for a decent sale, but given that he's acted like a fuck wit in every other decision he's made regarding NUFC, administration is probably quite likely now. You think the price is too high?

Some sanity in the thread at last. I personally believe the club is in very serious trouble and without looking I'm absolutely sure Ashley has been upto no good whatsoever the last few weeks. Ken Bates iirc went into voluntary admin with one company that owned Leeds and they bought it back with a newly created vehicle for that purpose. This manouvre has been studies to this day with regard to its legality. These guys can get upto all sorts. As an aside Ashley has opened a discount warehouse in the former home of Burberry, on Haymarket in london. The store, selling sports goods for as little as £1, is set to anger Crown Estate, which blocked TK Maxx's bid to open up in Piccadilly Circus because it was deemed too tacky. He's just a fat chav Aye. He's lacked a sense of duty and quality since day one.

It keeps the insurance companies (and Chezzy ) covered. What more do you want? You'd think a country like Ahmerica could afford FREE UNIVERSAL healthcare innit.

Ideally.

Of course sweetie, this is just to interest the savages.

Some sanity in the thread at last. I personally believe the club is in very serious trouble and without looking I'm absolutely sure Ashley has been upto no good whatsoever the last few weeks. Ken Bates iirc went into voluntary admin with one company that owned Leeds and they bought it back with a newly created vehicle for that purpose. This manouvre has been studies to this day with regard to its legality. These guys can get upto all sorts.

If Ashley said he was committed to putting more money in then that would be true. The club is currently costing about 20m every 3 months to run, even if we halve that without PL money it will still be dodgy for us. If you did a bit of research you'd see even selling ALL the players will make very little difference as we still owe money on the big ones like Oba and Colo. We're getting nothing from Viduka, Owen, Butt, Cacapa etc.... Though, both insolvency law as well as the financial state of the club are much more complex than you are trying to implicate. You make it look as if the threat of liquidation is imminent even though it is not even clear if the club really is insolvent and therefore entitled to apply for administration and the need of protection from creditors. Alternatively we can also talk about the possibility of the club getting taken over by aliens. What is probably more your field of knowledge. I don't know man, but things look serious to me. People talking about buying Sykbred or whatever on N.O. are in a pure state of delusion.

I know this. My point being he had to stump it up while we were in the PL. ... right. So he paid it then and if we'd stayed up he may have tried to wrangle it out of prospective buyers, but we're not worth £100m now, so no amount of wranglnig will get the buyers to py it, he knows this so he's torn up that debt. in addition to running costs and transfers still to be paid, there's that Barclays overdraft... and I'm not sure what else. He'll take £75m and run for the hills I reckon. Agreed. I wish he was just asking 50m for the club to speed things up. Villa went for 62m and Pompey for about 20m. Thing is, if he's asking £100, he'll be offered £75, if he was asknig £50m he'd be offered £35m I don't think the time is going to be affected by the price-tag. It's just making sure the backroom stuff is in order. Hopefully that'll be Mort's parting gift, leaving us in less of a shambles than we were under Shepherd. (out of curiosity, if Ashley hadn't needed to throw £100m at hidden debts, do you reckon he'd have thrown that kind of cash at the transfer market?) It was interesting there was so much talk about FFS coming back in which seems and I agree with you that 70-80m might be enough. Regarding the second bit I think he would have spent more on transfers say 10-15m net a season, but looking at his modus operandi I don't think he would have spent 50m on players or something like that (which he needed to as we now see).

If Ashley said he was committed to putting more money in then that would be true. The club is currently costing about 20m every 3 months to run, even if we halve that without PL money it will still be dodgy for us. If you did a bit of research you'd see even selling ALL the players will make very little difference as we still owe money on the big ones like Oba and Colo. We're getting nothing from Viduka, Owen, Butt, Cacapa etc....

£47m went on what? Look it up ffs! 47m became due when ownership changed hands something FFS had written in.

I know this. My point being he had to stump it up while we were in the PL. ... right. So he paid it then and if we'd stayed up he may have tried to wrangle it out of prospective buyers, but we're not worth £100m now, so no amount of wranglnig will get the buyers to py it, he knows this so he's torn up that debt. in addition to running costs and transfers still to be paid, there's that Barclays overdraft... and I'm not sure what else. He'll take £75m and run for the hills I reckon. Agreed. I wish he was just asking 50m for the club to speed things up. Villa went for 62m and Pompey for about 20m.

We owe fuck loads of money on players and wages and all sorts AND now we have NO money and an owner who refuses to put anymore in and the chairman has had his car taken away.....Wake up!!

So if we go into administration what happens? Do you reckon Deportivo are going to let us off without paying them? Or are you suggesting we should go into liquidation? I don't know the exact ins and outs but Leeds got protection from creditors reg monies owed I imagine Depor will have to take a reduced amount. On the other hand sitting on our hands like MA is and no word about Shearer isn't helping us as the ongoing costs build up and MA has stated a couple of times he isn't putting any money in. Calling in administration last week of July will I imagine be much worse than doing it now. Leeds entered into a CVA because creditors knew it was the best they could get, that's not the case with us. Faced with getting nowt how would it be different with us? As I say I'm not an expert and am curious as to how things will pan out. But they'll not get nowt, they'd sue us for what they were owed, not to mention that it's terrible business practice and would mean that any future transfers would have to be paid for up front. Didn't the £100m you mention go largely towards paying off existing long-term debts? Such as the money owed on the ground when the Halls sold up. 47m went on that. I don't really know where he needed the other 50 odd million to plug things. 2002 EU law ammendments (I'll see if I can find it) is much more inclined to protect companies such as our in duress than ever before, so the protection we'd get is high. In the sense that it is better in the long term for our business to survive and thrive in the future than go down.

I know this. My point being he had to stump it up while we were in the PL.

Took a 100m of MA's money LAST YEAR to keep us going.... Newcastle United club accounts reveal state of play Jan 23 2009 by Adam Jupp, The Journal THE state of Newcastle United’s finances since Mike Ashley’s takeover are revealed for the first time in the club’s latest accounts. They show the sports retail tycoon has kept the Magpies afloat with a £100m loan, which would have to be paid back to him by any future new owner. The Journal understands Ashley is not charging any interest on the loan and has also recently pumped £10m of his own money into the clubs’ coffers to help with running costs. But it has also emerged United’s wage bill, including players, directors and other staff, has shot up by nearly £5m to just under £70m. That swallows-up around 70% of the company’s annual revenue, a situation football finance experts last night voiced concerns over. And, had it not been for the £6.5m the club received in compensation for striker Michael Owen’s World Cup knee injury, the balance sheet would have looked even worse last year. Richard Slack, principal lecturer in accounting and finance at Newcastle Business School, Northumbria University, said: “Newcastle is continuing as a going concern and that is largely based on a £100m loan that has been paid in by Mike Ashley, on which no interest is being charged. “That would be payable on demand if the control of the club was to change. So, any would-be buyer, as well as paying the asking price for the club, would have to secure a re-financing deal to ensure the on-going commercial viability of Newcastle United. “And looking at the accounts, you are talking about £100m being needed, or more. The reason I say ‘or more’ is that the wage costs is 70% of total revenue, which is high. “This is in the context of being out of the FA Cup in the third round, out of the League Cup in the early rounds, no European football on the horizon, season-ticket sales probably down and, of course, looking to the future, they are not immune from relegation, which would of course severely impact on their top line. “So, they are very reliant on that £100m.”

So if we go into administration what happens? Do you reckon Deportivo are going to let us off without paying them? Or are you suggesting we should go into liquidation? I don't know the exact ins and outs but Leeds got protection from creditors reg monies owed I imagine Depor will have to take a reduced amount. On the other hand sitting on our hands like MA is and no word about Shearer isn't helping us as the ongoing costs build up and MA has stated a couple of times he isn't putting any money in. Calling in administration last week of July will I imagine be much worse than doing it now. Leeds entered into a CVA because creditors knew it was the best they could get, that's not the case with us. Faced with getting nowt how would it be different with us? As I say I'm not an expert and am curious as to how things will pan out.

So, where's the money coming from?

So if we go into administration what happens? Do you reckon Deportivo are going to let us off without paying them? Or are you suggesting we should go into liquidation? I don't know the exact ins and outs but Leeds got protection from creditors reg monies owed I imagine Depor will have to take a reduced amount. On the other hand sitting on our hands like MA is and no word about Shearer isn't helping us as the ongoing costs build up and MA has stated a couple of times he isn't putting any money in. Calling in administration last week of July will I imagine be much worse than doing it now.

Blind man caught in the headlights.

20m every 3 months (roughly). Ok, Let's take the case of just one player Colo. We still owe £5m transfer fee. We're paying him between 60k and 80k a week depending on which report you believe. When we sell him we'll have to pay a loyalty bonus which seems to be 10% of yearly wages. Even if we get a decent price we won't make any money on him. That's just one case.

He no longer is. He won't put anymore money in, that is why he apparently is writing off his loan to the club 100m?? But set this aside, running costs atm are 20m every 3 months. Where is this coming from without a buyer?