Taylor Swift

As usual, madras is right.

Losses from previous years can be used to deduct taxes that are payable.

I cannot understand this mindset that somehow the accounts of Ashley the man and his 100% owned business are somehow on a seperate footing. They are all part of the same empire. If fans think we have some kind or 'moral minority stake' in NUFC then Ashley will be delighted, it means supporters will be more willing to part with their cash and give him a much better chance of making a few quid in the long run. If he's loaned the club £100m on a totally arms-length basis (which it isnt here) and it gets paid back then the club's equity is worth another £100m so when he comes to sell, that's when he makes his cash. It means exactly the same to the club's financial position as well, because the owner and the creditor are the same party. What is he going to do? Write a letter to himself demanding repayment? If you were analysing this as a takeover target, you would simply ignore the shareholder loan altogether when valuing it, on the basis it would be extinguished on sale. they have to be don't they, legally speaking ? Legally yes, but in terms of the consequences of that in terms of actions that he takes, it's negligible. He has a value for the club. That value will be x. If the club has debt that must be paid off, then he'll ask for x - debt. So if the club owes him 100m and he values the club at 200m, he'll sell the club for 100m cash. If he pays the debt back to himself, the new buyer will pay 200m cash but either way, he will be getting 200m and the new buyer will be paying 200m in both cases. If he starts paying a dividend, it has the same effect. The club's cashflow is worse off, therefore its net present value (the sum of future cashflows) is reduced, so the total value of the club has been reduced by the the money that he's taken out. Either way, there is a certain amount that he'll sell for and this amount doesn't change regardless of whether he's paying down debt, taking out dividends or making sports direct pay for advertising.

I cannot understand this mindset that somehow the accounts of Ashley the man and his 100% owned business are somehow on a seperate footing. They are all part of the same empire. If fans think we have some kind or 'moral minority stake' in NUFC then Ashley will be delighted, it means supporters will be more willing to part with their cash and give him a much better chance of making a few quid in the long run. If he's loaned the club £100m on a totally arms-length basis (which it isnt here) and it gets paid back then the club's equity is worth another £100m so when he comes to sell, that's when he makes his cash. It means exactly the same to the club's financial position as well, because the owner and the creditor are the same party. What is he going to do? Write a letter to himself demanding repayment? If you were analysing this as a takeover target, you would simply ignore the shareholder loan altogether when valuing it, on the basis it would be extinguished on sale. This is what I've been saying for three god damn years. It doesn't fucking matter whether he's paying interest on the loan, whether he's reducing the loan, whether we're getting money from SD etc etc because it's shifting money from one pocket to another.

Have they done the home kit from 95/96?

Fuck this season

As fucking clear a red as you'll see

This fucking season man

Yup. If you can rehabilitate it naturally then that's always the best course of action. This has happened before with other players and sportsmen. It's not uncommon for people to try a natural rehabilitation and it not to succeed. Surgery is and should always remain a last resort.

Basel away please. Pretty please.

Are we before or after the CL draw?

Spurs.

Pardew is not good at this speaking business. From today: 'them a few different questions like we did at Stoke [who they beat 2-1 on Sunday] and hopefully come up with our own answers rather than them coming up with defensive answers.' wat

What history? This overturning the deficit thing? What a rubbish stat. Deportivo overturned a three goal deficit against Milan once. Not scoring an away goal when coming from 2 down i think it is. Deportivo came back from 3-0. Just because they were down only two doesn't make it special or anything. It was a fantastic comeback but at least put it in the proper context, not this 'historic' bullshit.

What history? This overturning the deficit thing? What a rubbish stat. Deportivo overturned a three goal deficit against Milan once.

Holy shit

Honestly don't know why you would even consider it. Yup. Rubbish idea because he'll get close to 40 games next year.

This has been very entertaining.

Vertonghen!

:lol:

Pathetic today. No urgency, no game plan, no creativity.

Pardew and Pulis are made for each other.

You're kidding. PS. Ronaldo has been a bargain for Real at 80m.

Why not? He's perfect for the role if the team is set up right.