scoobos 297 Posted June 26, 2013 Share Posted June 26, 2013 http://www.independent.co.uk/sport/football/premier-league/exclusive-mike-ashley-ready-to-sell-newcastle--for-267m-8673777.html Link to comment Share on other sites More sharing options...
The Fish 10430 Posted June 26, 2013 Share Posted June 26, 2013 Will he bollocks, no buyers, just appointed his own man at DoF role, doesn't need to sell. It's just a media reaction to the fans meeting, I reckon. Link to comment Share on other sites More sharing options...
Howmanheyman 31593 Posted June 26, 2013 Share Posted June 26, 2013 How does the club owe Mike Ashley £267M as stated in that article? "Recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million" Link to comment Share on other sites More sharing options...
trophyshy 7058 Posted June 26, 2013 Share Posted June 26, 2013 How does the club owe Mike Ashley £267M as stated in that article? "Recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million" I'm not sure, but I think it's because he's a fat cunt. Link to comment Share on other sites More sharing options...
Tom 14000 Posted June 26, 2013 Share Posted June 26, 2013 I think he's been using Wonga interest rates. With regards to him selling - we've already learned the grass isn't always greener. Link to comment Share on other sites More sharing options...
PaddockLad 16523 Posted June 26, 2013 Share Posted June 26, 2013 How does the club owe Mike Ashley £267M as stated in that article? "Recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million" How does the club owe Mike Ashley £267M as stated in that article? "Recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million" A chronically misleading statement....if he wants to sell the club he'll be looking for that as an asking price, which is a very different thing. Link to comment Share on other sites More sharing options...
Howmanheyman 31593 Posted June 26, 2013 Share Posted June 26, 2013 A Lee Ryder-Evening-chronically misleading statement....if he wants to sell the club he'll be looking for that as an asking price, which is a very different thing. FYP Link to comment Share on other sites More sharing options...
TheMoog 0 Posted June 26, 2013 Share Posted June 26, 2013 Ashley has never truly cleared the debts of the club, he's just moved them from one place to another - from the banks to his back pocket, essentially giving us an interest free loan that doesn't need paying back unless the fat cunt leaves. Okay, so we're not paying interest but it't pushed the asking price for the club up to an unrealistic sum from what I'm reading there, nobody is likely to buy us any time soon... I wonder what happened to that Anil Ambani chap or the Sultan of Brunei Link to comment Share on other sites More sharing options...
Monroe Transfer 0 Posted June 26, 2013 Share Posted June 26, 2013 Thread title and article title are misleading. Link to comment Share on other sites More sharing options...
BigWalrus 0 Posted June 26, 2013 Share Posted June 26, 2013 Ashley has never truly cleared the debts of the club, he's just moved them from one place to another - from the banks to his back pocket, essentially giving us an interest free loan that doesn't need paying back unless the fat cunt leaves. Okay, so we're not paying interest but it't pushed the asking price for the club up to an unrealistic sum from what I'm reading there, nobody is likely to buy us any time soon... I wonder what happened to that Anil Ambani chap or the Sultan of Brunei Doesn't make any difference whatsoever. If he hadn't paid the loan off, any buyer would pay £x but know that they're also inheriting a whopping big debt. With the debt being wholly MA's, there's room for negotiation with any buyer. Let's be honest, if a buyer can't afford to pay the loan off in one go, they probably shouldn't be looking to buy a PL club. Make no mistake, NUFC is in a far stronger financial position from not having the massive Barclays loan. Link to comment Share on other sites More sharing options...
trophyshy 7058 Posted June 26, 2013 Share Posted June 26, 2013 Link to comment Share on other sites More sharing options...
scoobos 297 Posted June 27, 2013 Author Share Posted June 27, 2013 (edited) But seriously, the whole "hes paid off debt" thing is bollocks. He hasn't - if he wanted to pay it off he'd make a cash donation / injection of the money and not put it as a loan. Same as Chelsea (826mil ) we have a bill to ashley rather than a bill to a bank. The chelsea stat really makes me smile inside, Abramovich has them totally by the short and curlies. That debt is unpayable imo. To be fair though, by him doing that he has saved the club substantial amounts of interest etc. So he has given some money, but not out of his pocket at all. If Newcastle goes close to bust he can genuinely just strip all the assets and take the cash I think - that said, there's no way in hell Newcastle Council would ever sanction any redevelopment on the ground if the club closed down. I think they're really good at protecting the club and do all they can. Edited June 27, 2013 by scoobos Link to comment Share on other sites More sharing options...
Kitman 2204 Posted June 27, 2013 Share Posted June 27, 2013 I'll believe it when I see it Link to comment Share on other sites More sharing options...
ewerk 29491 Posted June 27, 2013 Share Posted June 27, 2013 Same as Chelsea (826mil ) we have a bill to ashley rather than a bill to a bank. The chelsea stat really makes me smile inside, Abramovich has them totally by the short and curlies. That debt is unpayable imo. Most of the debt owed to Abramovich has been converted into equity. Similarly the club doesn't owe Ashley £267m in the form of traditional loans. I'm not sure why Deloitte are using the criteria that they are, probably because it catches the eye more than the figures normally used. Link to comment Share on other sites More sharing options...
Ausman 0 Posted June 27, 2013 Share Posted June 27, 2013 So the circus begins again. I would be happy if we could get the right buyer. Link to comment Share on other sites More sharing options...
DEADMAN 0 Posted June 30, 2013 Share Posted June 30, 2013 bullshit he will do what he done last time put it on and off the market to keep fans happy then pull the plug and stay. Link to comment Share on other sites More sharing options...
Monroe Transfer 0 Posted June 30, 2013 Share Posted June 30, 2013 Why don't you make a bid, deaders? Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 30, 2013 Share Posted June 30, 2013 Doesn't make any difference whatsoever. If he hadn't paid the loan off, any buyer would pay £x but know that they're also inheriting a whopping big debt. With the debt being wholly MA's, there's room for negotiation with any buyer. Let's be honest, if a buyer can't afford to pay the loan off in one go, they probably shouldn't be looking to buy a PL club. Make no mistake, NUFC is in a far stronger financial position from not having the massive Barclays loan. While less exposed to financial ruin we remain in a worse financial position. More debt. Less commercial income. Less match day income. Link to comment Share on other sites More sharing options...
mincepie 0 Posted July 1, 2013 Share Posted July 1, 2013 How does the club owe Mike Ashley £267M as stated in that article? "Recent figures released by Deloitte showed that the debt owed by the club to the Sports Direct owner stood at £267 million" hoo man its so people will believe it Link to comment Share on other sites More sharing options...
Happy Face 29 Posted July 1, 2013 Share Posted July 1, 2013 Give or take, that figure will be based upon £134m to buy the club, £110m spent on debt and a spending spree when he arrived and £23m that was pumped in following relegation. Total £267m. He took back £11m in the last set of accounts though and is due to take back £18m this year. So even if that was the case, it should be down to under £240m soon. Link to comment Share on other sites More sharing options...
Rayvin 5127 Posted July 1, 2013 Share Posted July 1, 2013 (edited) Maybe that's his plan longer term, keep taking money out of the club until the amount he'd want for it is low enough that someone might actually pay for it, and subsequently he'll get the fuck out like he's wanted to for years. Would explain why he doesn't care about how well we do, seemingly only about bringing in players to sell at a profit. I guess the sooner this all happens, the sooner he's gone. Edited July 1, 2013 by Rayvin Link to comment Share on other sites More sharing options...
Happy Face 29 Posted July 1, 2013 Share Posted July 1, 2013 Apparently the money put in to cover relegation was on different terms to his original investment. That was always repayable following promotion. Don't believe the rest of it is... at the moment. Link to comment Share on other sites More sharing options...
BigWalrus 0 Posted July 2, 2013 Share Posted July 2, 2013 While less exposed to financial ruin we remain in a worse financial position. That's your opinion, but I don't agree. We were technically insolvent before Ashley bought us. If Shepherd had stayed in charge we were facing almost certain administration. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted July 2, 2013 Share Posted July 2, 2013 We were technically insolvent before Ashley bought us. If Shepherd had stayed in charge we were facing almost certain administration. I agree. I don't see what Ashley done with the club that makes us more of a going concern though? He's personally had to cover the growth of debt during his reign. The fact Shepherd couldn't afford to is why I agree financial ruin was more likely. The fact Ashley can afford to doesn't make the books much more attractive. Basically, he could afford to cover the losses until TV money grew to be enough to cover them. Link to comment Share on other sites More sharing options...
Asprilla 96 Posted July 2, 2013 Share Posted July 2, 2013 We would have been far more fucked if Shepherd had stayed and I hate Ashley. Shepherd was like a drunk gambler throwing money at increasingly riskier options to try and claw back the losses. Link to comment Share on other sites More sharing options...
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