BigWalrus 0 Posted January 28, 2013 Share Posted January 28, 2013 What did FFS do wrong up to 2004. Someone will have to explain this to me. Even this "debt", the majority of it was the mortgage on Level 7 which was £115m. It's not like he'd been in fucking Grosvenor and blew it all on red or black. Where should we start? How about selling assets to the club for inflated prices? Or buying property from the club for next to nowt then renting it back to the club for a heavily inflated fee (while the club was making big losses and the directors are taking massive, disproportionate salaries). Or Douglas Hall selling his private number plate to NUFC for £50k? As much as Ashley gets the tag of being a dodgy cockney wideboy, Freddy Shepherd and Douglas Hall were far more suspect characters. They not only milked the club dry but didn't contribute a penny of their own. Their tenure at NUFC was littered with dodgy deals, scams and fiddles they had going on. Link to comment Share on other sites More sharing options...
sweetleftpeg 0 Posted January 28, 2013 Share Posted January 28, 2013 Shepherd's biggest problem was his gob. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 Profits are up. Turnover isn't. TV money has almost trebled from just over £20m to just shy of £60m since 2005. That will increase by another 50% next season to over £80m. Turnover (having fallen drastically) has just returned to the £90m mark. Wages having increased out of hand, have only been returned to the £50m mark (but are on the rise again) Losses have been wiped out with the increased TV cash and the reduced wage. The big profit from last year was from th Carroll sale. http://www.joinmust.org/forum/showthread.php?t=9224 Look how far we were above Tottenham it's only 10 years ago. Mike Ashley has been a disaster for NUFC. You correctly point out that our TV revenue has went up £40m in 10 years, yet the turnover has went down. What it shows is commercially the club should be making £140m turnover every season, we're nearly £50m down on that. He's running the club like Butlins, but not the one at Skegness, the one at Ayr. Disgraceful man. The biggest evil in the clubs 121 year history. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 It's selective though asking what Shepherd did until 2004 though. Can't praise the board enough up until that period but if you're going to do so then you also need to give them criticism for the monumental fuck ups that happened after that too. How is it? People use the broad criticism, "Shepherd was a cunt". He bowed to the fans and managers demands at chucking money at overpaid arseholes, he didn't put a foot wrong in the first 70% of his tenure at Newcastle, and as I said the majority of the debt was on the loan on the ground. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 Where should we start? How about selling assets to the club for inflated prices? Or buying property from the club for next to nowt then renting it back to the club for a heavily inflated fee (while the club was making big losses and the directors are taking massive, disproportionate salaries). Or Douglas Hall selling his private number plate to NUFC for £50k? As much as Ashley gets the tag of being a dodgy cockney wideboy, Freddy Shepherd and Douglas Hall were far more suspect characters. They not only milked the club dry but didn't contribute a penny of their own. Their tenure at NUFC was littered with dodgy deals, scams and fiddles they had going on. You're talking coppers and splitting hairs there. Commercially and gate wise we were making £40m more then than we are now. It's staggering. Link to comment Share on other sites More sharing options...
Tooj 17 Posted January 28, 2013 Share Posted January 28, 2013 How is it? People use the broad criticism, "Shepherd was a cunt". He bowed to the fans and managers demands at chucking money at overpaid arseholes, he didn't put a foot wrong in the first 70% of his tenure at Newcastle, and as I said the majority of the debt was on the loan on the ground. Didn't we go from 2nd to 13th in Shepherd's first full season in charge? It's totally selective if you want to praise him yet you're not going to mention some of his mistakes. I despise Mike Ashley but compare the team we have now to when Roeder was in charge man. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 The multi-million dividend in 2003 when we only signed Bowyer is one thing. We signed Woodgate in 2003 as well, not cheaply neither. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 Didn't we go from 2nd to 13th in Shepherd's first full season in charge? It's totally selective if you want to praise him yet you're not going to mention some of his mistakes. I despise Mike Ashley but compare the team we have now to when Roeder was in charge man. Are you blaming Shepherd for the appointment of a manager who had won four league titles at two different clubs and his managerial performance at the toon? Link to comment Share on other sites More sharing options...
BigWalrus 0 Posted January 28, 2013 Share Posted January 28, 2013 How is it? People use the broad criticism, "Shepherd was a cunt". He bowed to the fans and managers demands at chucking money at overpaid arseholes, he didn't put a foot wrong in the first 70% of his tenure at Newcastle, and as I said the majority of the debt was on the loan on the ground. He used the loan to fund the working capital of the business though. Taking out a mortgage to fund the building of a stadium or expansion is fine, as you can link it to future rewards. Shepherd took out a huge loan and used it to buy players and pay wages. It was absolutely scandalous. Link to comment Share on other sites More sharing options...
ewerk 30163 Posted January 28, 2013 Share Posted January 28, 2013 We were in the CL ten years ago though, we were always going to be well above Spurs with that sort of income. Of course some of the credit for that has to go to Shepherd. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 We were in the CL ten years ago though, we were always going to be well above Spurs with that sort of income. Of course some of the credit for that has to go to Shepherd. Shepherd the cunt for employing Gullit and Dalglish and trying to bring world class players to the club. Yet it was all SBR who got us in the Champions League and got the likes of Solano, Dyer, Bellamy here.... Link to comment Share on other sites More sharing options...
BigWalrus 0 Posted January 28, 2013 Share Posted January 28, 2013 You're talking coppers and splitting hairs there. Commercially and gate wise we were making £40m more then than we are now. It's staggering. No we weren't. We were turning over more, but the money wasn't going anywhere but into the pockets of the players, the agents and the board. The club was losing money hand over fist. Turnover doesn't mean everything. The size of the transactions highlighted isn't important - it serves the purpose of showing how unethical their business practices were. What about all the other schemes they had going on that the auditors missed or they did off the balance sheet? Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 Someone from admin put a poll at the top, with who you would prefer as the leader of our club. Freddy Shepherd or Mike Ashley, and leave the results open to see who's voted for who. Link to comment Share on other sites More sharing options...
Tooj 17 Posted January 28, 2013 Share Posted January 28, 2013 I'd prefer neither in all honesty. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 No we weren't. We were turning over more, but the money wasn't going anywhere but into the pockets of the players, the agents and the board. The club was losing money hand over fist. Turnover doesn't mean everything. Of course it doesn't but we WERE making a profit up to 2004. What would you rather have a club making a profit of £5m a season with a turnover of £80m, or a club breaking even with a turnover of £150m? I'm sure there are idiots out there who would like to see a profit. Link to comment Share on other sites More sharing options...
ewerk 30163 Posted January 28, 2013 Share Posted January 28, 2013 Would you prefer cancer or AIDS? Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 Leazes would love this thread. Link to comment Share on other sites More sharing options...
Anorthernsoul 1221 Posted January 28, 2013 Share Posted January 28, 2013 Someone from admin put a poll at the top, with who you would prefer as the leader of our club. Freddy Shepherd or Mike Ashley, and leave the results open to see who's voted for who. Stan Seymour Jr Link to comment Share on other sites More sharing options...
ewerk 30163 Posted January 28, 2013 Share Posted January 28, 2013 (edited) Of course it doesn't but we WERE making a profit up to 2004. The earliest figures I have are from 98 but at no point from then on did we make a profit. Edited January 28, 2013 by ewerk Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 I don't know much about Lord Westwood, but you hear OC's refer to him as the pirate. This bloke is worse than a pirate. He's like one of those leaches on Stand By Me, his crack when he bought the club was he bought it to "have some fun". Have some fun being £45m in the transfer black over 5 and a half years. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 The earliest figures I have are from 99 but at no point from then on did we make a profit. Put the figures up. Link to comment Share on other sites More sharing options...
ewerk 30163 Posted January 28, 2013 Share Posted January 28, 2013 Done. Link to comment Share on other sites More sharing options...
BigWalrus 0 Posted January 28, 2013 Share Posted January 28, 2013 (edited) Of course it doesn't but we WERE making a profit up to 2004. What would you rather have a club making a profit of £5m a season with a turnover of £80m, or a club breaking even with a turnover of £150m? I'm sure there are idiots out there who would like to see a profit. There's the profit figures before the shareholders have taken their dividends out. That's a total loss of £27m, which turns into a total loss of £62m after dividends. I'll rephrase your question. Would you rather have a club with turnover of £100m making healthy profits every year, or a club with a turnover of £125m losing money every year and heading for financial meltdown? Edited January 28, 2013 by BigWalrus Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 The earliest figures I have are from 98 but at no point from then on did we make a profit. So if those figures are correct, in 5 of those 8 years we broke even, while coming 3rd, 4th and 5th. Link to comment Share on other sites More sharing options...
McFaul 35 Posted January 28, 2013 Share Posted January 28, 2013 There's the profit figures before the shareholders have taken their dividends out. That's a total loss of £27m, which turns into a total loss of £62m after dividends. I'll rephrase your question. Would you rather have a club with turnover of £100m making healthy profits every year, or a club with a turnover of £125m losing money every year and heading for financial meltdown? The question of financial meltdown only ever rose after Souness spunked £50m in 16 months. My defence of FFS and his policies ends with the sacking of SBR. Link to comment Share on other sites More sharing options...
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