Unbelievable

Thing is though - it doesn't really make sense from a business perspective. Lots of businesses have uneven income streams over the course of a year, but will still require funds to carry out day to day tasks which they will invariably need to borrow. Of course, but the ideal scenario is that you always have enough free cash to do whatever you want without having to borrow any more. We're seemingly trying to run that model at all times but the current context is completely unsuitable for it. This isn't meant to be patronising and apologies if I've misunderstood, but I'm not sure I know of many companies (if any) (including FTSE 100 companies) that won't borrow money. Debt isn't an issue - in many ways, with debt as cheap as it is, it's a sensible business decision. Especially in a market where the value of assets (players) is rapidly increasing. 90m today probably gets you more value than 100m in a year's time, and the difference won't even be anywhere newr that big considering current interest rates.

Please explain what is loan from club owner and why it has increased to 129m term loan + 33m further loan = 164m as per latest account A loan is money owed (to Ashley), which needs to be paid back at some stage and is interest bearing (we pay for it in free advertising). It is not the same as putting money in and expecting nothing in return. The debt was 70m when he bought us (mainly related to late 90's stadium extension as a 57m mortgage which had to be repaid in the event of a change in ownership). He then added 29m to pay off existing player transfer fees that were spread out in one go, another 29m as the cost of the first relegation (his mistake) and another 33m after the second relegation (again his mistake). He also profits from this loan fiscally as he offsets it in his holding company, hence paying less tax over his profits. So in short: no, a loan is entirely different to putting his own money in (as most other club owners have done by the way).

"I knew that the club would cost me money every year after I had bought it. I have backed the club with money. You can see that from the fact that Newcastle has the fifth highest wage bill in the Premier League. I was always prepared to bank roll Newcastle up to the tune of £20 million per year but no more. That was my bargain. I would make the club solvent. I would make it a going concern. I would pour up to £20 million a year into the club and not expect anything back." Not once has he put a penny of his own money in, not once, other than when he bought it and to add to the club's debt to pay for his own mistakes.

This goes to the heart of the problem with our club, when the manager can't buy (within financial constraints) who they want, and has to make do with fourth, fifth or sixth down the list. We've hired a world class manager who isn't known for being flexible in terms of strategy. If we're not going to give him the tools he needs we might as well not have bothered with hiring him. When Rafa came in I was hopeful, not just because of his track record, but also because it signaled change might be on the way in terms of control over transfers and funds being made available. Unfortunately it seems Ashley and his minnions are too set in their ways. I can't see Rafa riding this one out. As soon as he gets an interesting opening elsewhere he will be on his bike, and who could blame him?

Ajax manager in presser confirms he's spoken to De Jong informally, but that's it for now. Both sides thinking about what they want currently. But... "If it's up to is he will join soon. it will however not be easy to get him from England." Presume wages are the issue then, as expected

Yup, sadly

Sorry to say, but he has a point like and I've said basically the same in the pre match thread. Rafa will come under pressure for this team selection, no doubt. It's double standards otherwise, can't criticise one manager for doing it and not another. Rafa probably thought they were good enough to get through. Incredibly narrow minded to not see the bigger picture here like. Enlighten me please. It seems the bigger picture is lost on me. We had a cup game today, the season has only just started and we have a few first team players who could do with the match fitness exercise if nowt else. What good does it do us to field a team consisting mostly of proven dross and some youngsters? I want us to win a cup in my lifetime, and I don't care what other clubs do. If I was a match going, ticket paying fan I wouldn't be impressed tonight.

Rafa specifically stated he would play fringe players to put them in the shop window. I don't see how he can be under pressure from trying to advertise that our s*** still has a pulse, UB. Well, if that was his decision I don't think it was the right one. If it wasn't it's even worse in terms of what it means going forward.

Sorry to say, but he has a point like and I've said basically the same in the pre match thread. Rafa will come under pressure for this team selection, no doubt. If Rafa had been backed according to the promises laid out by that fat c*** of an owner, we'd have been able to field a stronger squad this evening. I'm aware of all of that, but it's ultimately still his decision to field an almost completely different XI. I mean, it's not like some of our so called first team players couldn't do with the match fitness or a confidence boost. We fielded a weakened side and it's speculative to what extend it's contributed to where we are at this moment, but I'd argue it hasn't helped.

Sorry to say, but he has a point like and I've said basically the same in the pre match thread. Rafa will come under pressure for this team selection, no doubt.

In what way?

West Ham game will be interesting if it stays like this.

This season? Didn't Mike say the other day we'd focus on a cup once we were safe in the league

Howay lads, can't let a rare chance of winning something and Ashley possibly packing up go by without a whisper like this!

The wheels have come off the cart which we bolted to the horse which is now dragging our arse through the s***. Bah, at least we're making our own luck

Sudden death? Are we out?

Oh dear

Wow, great strike

Get in! All to play for.

Game's not over people. Long way to go and we can get back into this. Really hope we do.

Its a cup game, most managers play youngsters and second teamers. Most teams have an academy and a squad worthy of the name

Understandably. Why even invest time and money in a NUFC cup game nowadays?

'sake

Wow, Liverpool playing superbly