Parky

As Ashley would be the major creditor, administration would seem an odd move financially. But Ashley could probably take his losses at Newcastle, which would be close to £250m, and set them against profit at his other companies, such as Sports Direct. Ashley’s tax liability would then be reduced and his loss not so great. Oh. s***. Breathing a little easier after having a quick word with a mate. Do explain! Since Sports Direct is now a public company (he owns just over 50%) his only income from it comes in the form of dividends (which he shares with all share holders). That being the case, if he files his income taxes as a person rather than a company isn't his right to say "I made loads of money here and I lost even more over there. So I owe no taxes."? I read that and then your sig Cali. Sheeeeet.

As Ashley would be the major creditor, administration would seem an odd move financially. But Ashley could probably take his losses at Newcastle, which would be close to £250m, and set them against profit at his other companies, such as Sports Direct. Ashley’s tax liability would then be reduced and his loss not so great. Oh. Shit. Breathing a little easier after having a quick word with a mate. Do explain! But....What if he liquidated it?? No idea! I'll ask him. Cheers. ...and I'm pretty sure tax losses can be carried over. I'll check.

As Ashley would be the major creditor, administration would seem an odd move financially. But Ashley could probably take his losses at Newcastle, which would be close to £250m, and set them against profit at his other companies, such as Sports Direct. Ashley’s tax liability would then be reduced and his loss not so great. Oh. Shit. Breathing a little easier after having a quick word with a mate. Do explain! But....What if he liquidated it??

Barclays would be the first I guess.

Can anyone explain this to me please? I still don't understand why he'd prefer to take the relative pennies on offer from administration over the £60m offered by Shepherd. I am no expert on British Tax Law, however I knwo that this could easily be done in the States by... 1. NUFC is a seperate entity that has outstanding debts 2. NUFC goes into administration and sells most of its assets in an effort to settle those debts. 3. Fire sale of salable items occurs (like players and properties like SJP, the training ground, parking areas, etc). Not necessarily all salable items would be sold but liabilities (read as players) certainly would be. 4. Debts owed may have legal priority to some institutions over others. Example NUFC owes outstanding debt to BT (hasn't paid bills in months), a loan from a bank and loans from Ashley. Ashley gets paid first by prior agreement in original loan. 5. Ashley takes a loss on the loans 6. Ashely counts this loss against profits form his other holdings and assets - the gov't was going to tax him on his profits from Sports Direct, interest earned, etc - say in the order of 20 million pounds, BUT he claims losses of 100m- therefore pays no taxes. Making his actual loss only 80m Writing off against tax...It was staring us in the face. Just guess we didn't envisage such cruelty (if it happens).

I've been catnapping and just dipped back in. he he...

Important bit in the Mail today... As Ashley would be the major creditor, administration would seem an odd move financially. But Ashley could probably take his losses at Newcastle, which would be close to £250m, and set them against profit at his other companies, such as Sports Direct. Ashley’s tax liability would then be reduced and his loss not so great Read more: http://www.dailymail.co.uk/sport/football/article-1202592/Will-Newcastle-follow-Leeds-latest-damned-United.html?ITO=1490#ixzz0MVHJ6NSx

I've been told that Keith Harris is on holiday because Seymour Pierce are in the process of cutting all ties with Ashley. They're fucked off he wont accept a realistic offer for the club and they believe it's impacting on their reputation quite badly. would this finally bring Ashley back down to earth? realise the error of his ways etc..... or have i eventually gone insane Insanity is the easy option in this scenario. he he...

My guess is that he is engineering a scenario to suit himself, what that is will become clear soon. It could be what you say, or he may just have rabbit in the headlights syndrome - f*cked, in an alien place and nowhere to go. I agree with Slugsy and can't see how Administration helps Ashley. I'm no expert on insolvency law but the idea. floated on here, of syphoning off assets owned by the club into a separate entity and sticking what is left into Administration is surely illegal. Of course it is. My feeling is that the puzzle is something to do with the player contracts ie the easiest way to strike them. Admin could be the easiest way to get these cunts off our books is one theory. Something is definitely not right.

He'll have to get by on 35k.

Explain.

My guess is that he is engineering a scenario to suit himself, what that is will become clear soon.

I never said that a non plc cannot go into administration. That facts are Mike Ashley is still a very wealthy man, he may have lost alot of money during the downturn but he is still worth around half a billion if not more. So if a club is owned by a man who is not in any major debt, the chances are it's not gonna go into administration anytime soon. You said you didnt understand how we could go into administration as we were no longer a PLC, hence directly implying that there was a relationship between being a PLC and going into admin. There isnt. The fact that Administration comes about through a creditor petitioning a court and that Ashley is the creditor of the club is the more relevant piece. You're the only one that's implying that intepretation, not me. Maybe you forgot to read the rest of my post, your taking one single sentence out of context with the whole post. What I was saying was that the man is worth around half a billion so why would the club go into admin if he can afford to further finance the club. Whether he wishes to further finance the club or not is another matter. I personally don't see what he has to gain by letting the club go into admin. Sports Direct. "Net debt at the end of the year stood at £430m, which will not trouble the company's banking covenants, and the target is set to get that down below £400m next year, partly by ditching its dividend. A payout of 4.5p per share was made last year -- this year shareholders will have to make do with just the interim payment."

I never said that a non plc cannot go into administration. That facts are Mike Ashley is still a very wealthy man, he may have lost alot of money during the downturn but he is still worth around half a billion if not more. So if a club is owned by a man who is not in any major debt, the chances are it's not gonna go into administration anytime soon. What is Sports Directs debt?

I guess it doesn't bear thinking about, but he could wrap it up. (Makes no sense, but we're dealing with MA here).

It's the kind of nutcase he is. Probably some truth in it.

It's a testament to the man that he is willing to hang around after being kept in the dark for the whole summer and being treated with scant respect.

Right yeah 42m is most of the 70m he initially paid off. The other 30m was paid to balance the deficit in the 2008 accounts in order for the auditors to sign off on those accounts. He didn't pay it off though did he? He just lent the club the money.

He didn't have an option with most of it, the clause in the loan deal meant it had to be paid then and there. The only advantage being it saves us about 8m pounds a year in interest which could have been a big plus had he not massively mismanaged the club into relegation. Stockholm syndrome.

It's a tough one Midds cause the structure of SJH and it's relationship to Barclays and the club is so secretive (as MA would want it I guess). Others know more about this than me, but at a guess there must be a point where he bank will cap the overdraft if MA is refusing to underwrite it (if he is). Am I right in thinking that the only major people we (the club) owe money to are Barclays (the overdraft) and Ashley himself? If we go into administration, could the club write some of that debt off? Administration is primarily a tool so that the club can survive in its present form, who is going to get cash out and where I think we can only guess. But it is clear MA didn't pay off the debt, he just moved it.

It's a tough one Midds cause the structure of SJH and it's relationship to Barclays and the club is so secretive (as MA would want it I guess). Others know more about this than me, but at a guess there must be a point where he bank will cap the overdraft if MA is refusing to underwrite it (if he is).

I know it's ridiculous these Football league rules about players being first in the queue for cash. I suppose they were turned over a couple of times (Leicester/Leeds) and have over corrected.

I have feeling people who were writing off admin aren't so sure now. The overdraft is rising. MA isn't putting money in. The buyers don't want to pay the silly price. Something has to give.....