Penn

I'm really not trying to upset anyone but genuinely, lads, the idea that this takeover is still in some way a going concern is completely in your heads. Literally nothing out there has pointed to the idea that the consortium still exists and is pursuing the takeover. It's complete fantasy stuff. Why are you doing this to yourselves? On some level you must know you're setting yourselves up for more guaranteed disappointment? It's honestly really bewildering and sad at this point. Please just wake up.

Please.

Please.

This is Billy Pilgrim's ITK.

If true then we know that Ashley, Pochettino and the directors of the PIF all require food for sustenance. Coincidence? Unlikely IMO.

***NONCE KLAXON***

Harsh on Rod, that!

I'm as pessimistic as the next guy but imagine thinking it's not going to happen because you trust Bruce has the slightest knowledge of anything outside of his next choice of kebab.

Not quite as bad as believing a random on here because he gets team news though, is it?

Knowing someone who knows someone on the first team staff =/= having any sort of source with Ashley, his solicitors, or the now non-existent 'consortium'.

Still, probably a step up from the parody Twitter account!

Almiron in Shelvey's role at half time please. Joelinton off for Fraser too, he's back to being Joelinton.

Read this post and thought "eh, Joelinton's obviously not playing". Astonished to learn he is.

Stars aligning...

 

A few people replied to your last post mate. Why you ignoring them?

1 minute 50

 

The ramblings of this actual vagrant, and the cryptic tweets from a Mike Ashley parody Twitter account, suggest to me that something very big indeed is just round the corner.

Ah s***.  People are going to be in floods of tears over the accurate criticism of ASM.  Bless

Agreed mate. First and foremost he has to be judged on his ability as a defensive wing-back.

#backbruce #backtheboard #backbrexit

Should be the last time we see ASM in a black and white shirt. Not Bruce's fault at all - he's just not a good enough defender.

 

 

Top trolling.

Not actually trolling there - an obvious parody of the absolute degenerates in our fan base who've been itching to throw him under the bus.

Should be the last time we see ASM in a black and white shirt. Not Bruce's fault at all - he's just not a good enough defender.

Significant chunk of our freak fans always going to be more comfortable with using someone like him as a scapegoat than Bruce.

Yay. We won. We played 442 and pumped it long to a big number 9 for 80 minutes, but, yay. Cant wait for more.

It certainly boggles the mind to see so many people who've spent the last couple of months screaming that they're done with NUFC forever, get back on board after a fairly turgid away win against relegation fodder.

Miggy is up for it like. As much as ASM is a joy to watch, Almiron is way more productive.

What a truly rancid opinion on every conceivable level.

Almiron has spent 10 minutes running against a desperate and tired West Ham that has no choice but to try and attack.

But the WTO confirmed that they see PIF and KSA as legally separate entities.

No mate, they honestly didn't. They didn't even consider the question, it was completely irrelevant to the case they were presiding over.

I can't be arsed to find all of the individual posts but heard a neat summary from a solicitor (whose partner is a barrister and, together with her, gave the same view in detail when the WTO report came out)

 

https://twitter.com/RedRoseMichelle/status/1303807889019207680

Oh.

I'm astonished that she still has the cheek to be passing comment on this considering she and her melt boyfriend have embarassed themselves at every turn for the past 6 months.

And I know I'm nutting a brick wall here but for the record, the WTO passed absolutely no comment on the relationship between the PIF and the government of KSA. So if someone is telling you otherwise (like this Shell clown), they're either consciously or unconsiously bullsitting you.

Also, every legal opinion I've seen on the matter has been that PIF are legally separate and independent from the Saudi state. The appeal process, whilst still a PL process, would at least have a legally qualified chairman.

 

Can you link a few of these legal opinions? I know the guy the NUST hired to write to the Premier League attempted to make that argument, haven't seen any others?

 

https://www.footballlaw.co.uk/articles/newcastle-united-fc-takeover-and-the-premier-leagues-owners-and-directors-test

That is the NUST guy.

But all he offers is:

"∆ On 2 June 2020 Qatari- and Saudi- based lawyers provided confirmation to this author that KSA PIF is a separate legal entity."

Which is a) a worthless and vague piece of information and b) tells us nothing about the independence of the PIF, which is the crux of the matter. No-one who wasn't under the pay or the influence of the Saudis would ever try and make the argument that the PIF is operationally independent of the government of KSA.

Also, every legal opinion I've seen on the matter has been that PIF are legally separate and independent from the Saudi state. The appeal process, whilst still a PL process, would at least have a legally qualified chairman.

Can you link a few of these legal opinions? I know the guy the NUST hired to write to the Premier League attempted to make that argument, haven't seen any others?

The change in tone from the Mike Ashley parody Twitter account is very significant IMO. Suggests something massive is on the horizon.

Well either way they did it, it made them look like they spent a hell of a lot more than they actually did, and used it as an excuse for not spending later, or to make the profit look more healthy should any of the written off assets actually be sold.

 

Writing off the value of an asset you still have is surely just a way to hide money. Nearest thing I can compare in real terms is if I fill in a tax return and write off the value of my car, but then keep the car which is officially worth 0, but in real life is worth about 10k. I still have a 10k asset, but on paper it looks like I don't.

 

Well aware it's not that simple, but that's how it reads to a layman

Every club (and business) should write off an asset if it's not actually of any value any more. If a player has no re-sale value and is rotting in the under-23s their asset value should be impaired and expensed.

Actually, looking at the NUFC accounts, I'm not even sure this happened.

2017 - Amortisation and impairment of players' registrations: £35,753k

2018 - Amortisation and impairment of players' registrations: £41,336k

2019 - Amortisation and impairment of players' registrations: £38,611k

Not a significant variance there. Think the whole idea of a big random increase in write-offs one year to massage the profit figure might have been a myth.

You can't 'write off' salary costs. Colback's value as an asset on the balance sheet was written off, not his wages.

 

 

We were paying Colback £200k a month and that cost was going through our P&L. Now it's not. So his wages are off the books.

 

Didn't they claim that they'd written off the value of his contract including wages for the duration to look like they'd spent the money already...don't understand accounts that well but I'm sure that was the perceived consensus here....make the wage bill look massively inflated while not actually paying anything out as a veiled excuse for not spending

 

What they did was write off the asset value of a number of players from the balance sheet, which increased the expenditure going through the profit and loss account and therefore decreased our reported profit figure. The actual players themselves were never disclosed, so it's hard to judge how justified it was from an accounting perspective.

 

It was nothing to do with wages. The asset value is determined by transfer fees and any other costs related to the transfer (agent fees for e.g.), so the value of Colback's write off would've been trivial any way because he came on a free.

 

If a player comes off the wage bill he comes off the wage bill. The accounting doesn't particularly matter - it's less cash going out of the business which is what matters.

 

Isn't asset value also based on how much the contract is worth? As Colback was free, if you exclude his contract he would have never been an asset worth more than 0, so how could he have been written off without some creativity in the numbers

Contract value (i.e. salary) doesn't factor into asset value - it's transfer fee plus any other directly attributable purchase costs. But you're right - Colback's value on the books would've been trivial (agent's fees, any other costs associated with the transfer itself). The idea the club booked a big write-off on Colback was invented by this forum/NUFC twitter.

You can't 'write off' salary costs. Colback's value as an asset on the balance sheet was written off, not his wages.

 

 

We were paying Colback £200k a month and that cost was going through our P&L. Now it's not. So his wages are off the books.

 

Didn't they claim that they'd written off the value of his contract including wages for the duration to look like they'd spent the money already...don't understand accounts that well but I'm sure that was the perceived consensus here....make the wage bill look massively inflated while not actually paying anything out as a veiled excuse for not spending

What they did was write off the asset value of a number of players from the balance sheet, which increased the expenditure going through the profit and loss account and therefore decreased our reported profit figure. The actual players themselves were never disclosed, so it's hard to judge how justified it was from an accounting perspective.

It was nothing to do with wages. The asset value is determined by transfer fees and any other costs related to the transfer (agent fees for e.g.), so the value of Colback's write off would've been trivial any way because he came on a free.

If a player comes off the wage bill he comes off the wage bill. The accounting doesn't particularly matter - it's less cash going out of the business which is what matters.

You can't 'write off' salary costs. Colback's value as an asset on the balance sheet was written off, not his wages.

We were paying Colback £200k a month and that cost was going through our P&L. Now it's not. So his wages are off the books.

I think (could be wrong) it was just her and PCP

If thats the case she should be able to afford us now with the Reubens on board too if she still has PCP backing

PCP doesn't actually exist as a business. It's part of the lie that is her public persona.

Redbird/Redball Capital does look rather interesting..

It's nonsense dreamt up by the vile troll Penn Edwards.

They certainly didn't draw up an acquisition plan in April, and won't be submitting a bid imminently.

I’m regards to PIF.

I think the interest will still be there and quite possibly talks behind the scenes with NUFC and more importantly the Premier League.

 

The public declaration of a withdrawal has meant that there is no pressure on the deal, there is no timescales now, no mass press pushing for news, and more importantly, no Qatar and other outside influences towards the Premier League.

Despite what they said yesterday, there is no way the Premier League would have been able to call off the test without direct contact from the group. If what others have said in recent weeks is true and theirs dialog between the consortium and the Premier League since the public withdrawal then it’s still positive. There is no way Staveley etc would have asked for fan and press pressure, without any intent of still trying to buy us, and I guess that lines up with Ashley’s/the clubs comments about wanting to focus on doing a deal with them.

 

Staveley has spent 3-4 years on doing a deal trying to buy us, she’s not going to give up just yet. Ashley has got the buyer he wants, the one he can sell at an inflated price too, and one he can say ‘well they had a good plan’ about once he does sell.

As I have said, everything that has happened seems to be rather convenient that the focus, attention, and pressure is off them all. Hopefully now they can get things done in the background and just take the flak about it once it’s completed.

 

In saying this, part of me still thinks the Premier League want MBS to be listed as a director so they can say ‘Ah, he’s a bit dodgy him, can’t let him in’.

Do you think there's perhaps a risk that you're interpreting the complete lack of information in a way that suits what you would like to happen, rather than what is likely to happen?

I think the public withdrawal from the deal, and then complete lack of further public comment, suggests that the Public Investment Fund is no longer in the running to buy NUFC. You seem to think it suggests the absolute opposite?

That's outrageous from Sean. I've never seen such misogynistic filth in all my life.

It’s a dead duck. Only the poor fans now desperately trying to keep this alive. It will eventually, quietly fade away.

 

I know you're wrong.

 

Because someone told Caulkin, who told someone your missus works with, who told you?

 

Hearing things first hand from No Red Flags George has proved to be absolutely worthless, so not sure 3rd/4th/5th-hand info is grounds to be confident.

 

I'm that confident that it'll go through, I bet your account on it.

IP ban for the loser? The Staveley/Reubens/PIF consortium acquire control of NUFC by, what, 30/09/2020? And Penn's reign of terror comes to a swift end. Or they don't and ITK Rocker is banished forever?