Ashley has failed Newcastle United.

[ATB]

To be honest. i do not know what the problem is with Ashley and Mort. What have they make wrong?

 

- There is argument that they did not support Sam in the summer or that they did not bought any payer in the January window. But

 

Sam was never there choice and even how much I supported Sam he got money. a lot of it where from selling player that I think is badly missing. But it was he that bought in the new players which almost none of them have turned out to be good. I understand him and many that is saying that he should get more money and I am disappointed with this. But as I said they did not chose him and Ashley have said that he should directly had done that. But what should have happened if sam would have got sacked even the season would have started? this was not a good option and therefore i do not blame them.

in this window kk was fresh and it was he that did not wanted to buy anyone. not ashley.

 

- The sacking of Sam and the timing

 

Can agree that it should have been earlier. but really do not understand what the problem is. say that he would have contended with the bad run and we would end up here anyway. then they would be blame to not act earlier. the timing was not  bad. they got who they wanted.

 

- the choice of kk

 

I think kk was right in many ways. but the most important is that they got there man and that they will support him. even who we got fans would be disappointed or happy. and if we would have taken anyone else. how can we know that he would have been better?

 

 

I am really happy with Ashley and that there are here and not fat fred. they know how to run a company. they have a plan that I like. to say that the debt that the payed of did not matter that it is good to have debts it is just bullshit. man. ashley have got us debt less and this is a superb thing for the club.

 

 

the future is bright. the future is Ashley and Mort!

[NE5]

I think Shepherd took most of the beans with him. Maybe hw wanted some to go with the pies 

 

It would appear he also took some league points with him too.

 

 

He should have shared some with his mate Souness. Some league points and some beans and maybe the two of them wouldn't have found it necessary to boot your idol, Bellamy right out of Newcastle. What a can of beans they made out of that one.

 

I see. It escapes your attention that the fat b****** and his mate Bobby also brought my idol, Bellamy, into the club too. Most unlike you to pick out what suits your opinion and discard the rest.

 

 

 

Well then, that makes it perfectly justifiable to sell him then. He did buy him after all. What a silly argument. That about sums up all your other arguments.

 

oh dear.

 

Have you decided whether or not you advocate spending money on quality footballers or not yet, ref your dramatic u-turn ?

 

Or do you have any consistent view of anything that you find yourself able to stick to that doesn't involve personalities ?

 

 

 

mackems.gif

 

Well said! Really addressed the point there, bravo!

 

Personalities have nothing to do with my judgment, in fact, i say the same things over and over again, ive supported all of Shephards decsions, but at the end of the day wen push came to shove, the last 10 years are irrelavant to the current state of the club, you cant seem to accepth that.

 

I dont know why, i accept that he was part of the great revival of the club, and i understand he brought some good times to this club, but 4 years, thats right, 4 whole years after his best achievement the club is in no better situation than the one he took over. What other business would accept that?

 

your poor grammar and spelling says everything I'm afraid.

 

Not to mention that you - and you aren't the only one - who STILL thinks that Shepherd ran the whole club all on his own despite the Halls being the majority shareholders.

 

Do you also think that Mort runs the whole club and makes all the decisions on his own too  mackems.gif

 

What a stupid little comment to make. I cant believe you're that desperate to score points that you would look at someones english, what a pathetic little man you are.

 

You should really take a look at what you've just put, its an embaressing statement to make, what are you, 53 years of age? You should really take a look at yourself if you think that that is an acceptable or appropriate comment to make.

 

And for what its worth, im aware that Shephard doesnt run the club on his own, but it also needs to be said that as the chairman he was the boards representatives to the fans. He has to shoulder the responsibilty of the boards decisions even if they werent his.

 

Also, isnt a charimans role to recommend things to the board, ie the financial backing of the manager, or the sacking, sale or purchase of a player etc? Can the board act without the chaimens recommendation?

 

Not point scoring.

 

Just can't be bothered with your inability to open your mind, fact is I've tried to tell you the bigger picture as someone who's supported the club for over 40 years and you don't want to listen.

 

Also - like it or not, if you want to put up good debate then your presentation of your points is important.

 

Don't take it personally.

 

 

[tmonkey]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

[fredbob]

I think Shepherd took most of the beans with him. Maybe hw wanted some to go with the pies 

 

It would appear he also took some league points with him too.

 

 

He should have shared some with his mate Souness. Some league points and some beans and maybe the two of them wouldn't have found it necessary to boot your idol, Bellamy right out of Newcastle. What a can of beans they made out of that one.

 

I see. It escapes your attention that the fat b****** and his mate Bobby also brought my idol, Bellamy, into the club too. Most unlike you to pick out what suits your opinion and discard the rest.

 

 

 

Well then, that makes it perfectly justifiable to sell him then. He did buy him after all. What a silly argument. That about sums up all your other arguments.

 

oh dear.

 

Have you decided whether or not you advocate spending money on quality footballers or not yet, ref your dramatic u-turn ?

 

Or do you have any consistent view of anything that you find yourself able to stick to that doesn't involve personalities ?

 

 

 

mackems.gif

 

Well said! Really addressed the point there, bravo!

 

Personalities have nothing to do with my judgment, in fact, i say the same things over and over again, ive supported all of Shephards decsions, but at the end of the day wen push came to shove, the last 10 years are irrelavant to the current state of the club, you cant seem to accepth that.

 

I dont know why, i accept that he was part of the great revival of the club, and i understand he brought some good times to this club, but 4 years, thats right, 4 whole years after his best achievement the club is in no better situation than the one he took over. What other business would accept that?

 

your poor grammar and spelling says everything I'm afraid.

 

Not to mention that you - and you aren't the only one - who STILL thinks that Shepherd ran the whole club all on his own despite the Halls being the majority shareholders.

 

Do you also think that Mort runs the whole club and makes all the decisions on his own too  mackems.gif

 

What a stupid little comment to make. I cant believe you're that desperate to score points that you would look at someones english, what a pathetic little man you are.

 

You should really take a look at what you've just put, its an embaressing statement to make, what are you, 53 years of age? You should really take a look at yourself if you think that that is an acceptable or appropriate comment to make.

 

And for what its worth, im aware that Shephard doesnt run the club on his own, but it also needs to be said that as the chairman he was the boards representatives to the fans. He has to shoulder the responsibilty of the boards decisions even if they werent his.

 

Also, isnt a charimans role to recommend things to the board, ie the financial backing of the manager, or the sacking, sale or purchase of a player etc? Can the board act without the chaimens recommendation?

 

Not point scoring.

 

Just can't be bothered with your inability to open your mind, fact is I've tried to tell you the bigger picture as someone who's supported the club for over 40 years and you don't want to listen.

 

Also - like it or not, if you want to put up good debate then your presentation of your points is important.

 

Don't take it personally.

 

 

 

mackems.gif mackems.gif mackems.gif mackems.gif

 

Point well and truly made, no need to reply to this old man. Your point has well and truly been made.

[NE5]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

aye, presiding over a relegation struggle and preaching financial prudence is just great

 

 

[Baggio]

I don't understand your arguement NE5. It seems the club spent the same amount in the summer that it has spent on average over the past 5 years. I was happy with Allardyce and you were very happy yet Sam did buy some crap, you have to admit that, i have! He spent £12m in Barton and Smith. Barton i STILL hold out hope for, Smith is rubbish. Enrique wasn't cheap either. You said there is never a bad time to sack a bad manager. The Board didn't believe in Sam so they sacked him. They appointed KK, which you're happy with, he tried to sign Woodie (for £8m - not cheap) but he wouldn't come. I think KK didn't sign anyone else because of 2 things, he's been out of the game and didn't know who to sign and the players he did know and want wouldn't come.

 

IMO, the club shouldn't have sacked Sam at that time, and if they were going to, they shouldn't have appointed KK because it's a tall order to expect him to come in after 3 years out and make good purchases.

 

All this seems clear and logical to me. What am i missing?

 

Good post, I don't think it's any surprise he didn't answer you though.

[Mick]

 

your poor grammar and spelling says everything I'm afraid.

 

Not to mention that you - and you aren't the only one - who STILL thinks that Shepherd ran the whole club all on his own despite the Halls being the majority shareholders.

 

Do you also think that Mort runs the whole club and makes all the decisions on his own too  mackems.gif

 

 

I really think you should check your posts before posting them, especially one where you pull somebody to bits for his grammar, you don't even know how to finish a question off, do you?

 

The question at the end is a hint rather than a question that needs answering.

[Thespence]

Mort is a lawyer, not a bean counter.

 

Ashley is to Mort what Hall was to Shepherd, is that what we're saying? 

 

Mort is employed as the Chairman. It is a different gig to his old one.

[tmonkey]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

aye, presiding over a relegation struggle and preaching financial prudence is just great

 

New board, new to the game, learning, etc.

 

And being in relegation trouble is mostly down to the shit management of the club under Shepherd since the Robson debacle. One mistake, like failing to bring a manager in quick enough to comfortably sign players during a window where most players arent available anyway, should not see our club in such dire trouble, yet it has because of the generally woeful squad built by the previous chairman and his terrible managerial appointments.

[Mick]

 

What a stupid little comment to make. I cant believe you're that desperate to score points that you would look at someones english, what a pathetic little man you are.

 

snip

 

He didn't score a point, it was an own goal.

[Baggio]

The big mistake Mort and Ashley have made for me so far is not going out and head hunting a top quality manager when Allardyce was still here, people laughed at Spurs when they went out behind Jol's back and tapped Ramos up but who cares about that now?

 

It's just a shame Jimenez wasn't on board at the beginning of the season as he could have brought Ramos here instead of to Spurs.

[ChrisJbarnes]

havent read any of this thread but ashley and mort have never run a football club before, and as such are doing a damn good job i think. even footballing people are going to make mistakes when you are given a new job, but chris mort's gone from being a lawyer to runing one of the biggest football clubs in the world. frankly im just happy not to have fat fred. lets judge mor tand ashley when theyve been doing it a few years, theyll have made mistakes and hopefully learnt from them.

 

the difference is mort and ashley know how to run a business and are learning how to run a football club

 

shepherd doesnt even know how to run a car probably

 

silly from start to finish

why exactly? we have a new chairman who even with the mistakes hes made is far better than shepherd. hes still learning his trade

[NE5]

havent read any of this thread but ashley and mort have never run a football club before, and as such are doing a damn good job i think. even footballing people are going to make mistakes when you are given a new job, but chris mort's gone from being a lawyer to runing one of the biggest football clubs in the world . frankly im just happy not to have fat fred . lets judge mor tand ashley when theyve been doing it a few years, theyll have made mistakes and hopefully learnt from them.

 

the difference is mort and ashley know how to run a business and are learning how to run a football club

 

shepherd doesnt even know how to run a car probably

 

silly from start to finish

why exactly? we have a new chairman who even with the mistakes hes made is far better than shepherd. hes still learning his trade

 

you want me to list and document the silly statements ?

 

1. haven't read any of this thread = so why comment ?

2. and as such are doing a fine job = we are in a relegation fight and an increasingly desperate one

3. morts gone from being a lawyer to running a big football club = doesn't mean he's making a good fist of it though. See our league position.

4. frankly I'm just glad not to have Fat Fred = unbelievably naive.

5. shepherd doesn't know how to run a car = a comment like this belongs on cbeebies

 

 

[Northern Monkey]

 

I think kk was right in many ways.

 

Because he was a great motivator, and almost a really good tactician, over 10 years ago.

[Parky]

 

I think kk was right in many ways.

 

Because he was a great motivator, and almost a really good tactician, over 10 years ago.

 

Do you think he still has it NM?

[TRon]

To be honest. i do not know what the problem is with Ashley and Mort. What have they make wrong?

 

- There is argument that they did not support Sam in the summer or that they did not bought any payer in the January window. But

 

Sam was never there choice and even how much I supported Sam he got money. a lot of it where from selling player that I think is badly missing. But it was he that bought in the new players which almost none of them have turned out to be good. I understand him and many that is saying that he should get more money and I am disappointed with this. But as I said they did not chose him and Ashley have said that he should directly had done that. But what should have happened if sam would have got sacked even the season would have started? this was not a good option and therefore i do not blame them.

in this window kk was fresh and it was he that did not wanted to buy anyone. not ashley.

 

- The sacking of Sam and the timing

 

Can agree that it should have been earlier. but really do not understand what the problem is. say that he would have contended with the bad run and we would end up here anyway. then they would be blame to not act earlier. the timing was not  bad. they got who they wanted.

 

- the choice of kk

 

I think kk was right in many ways. but the most important is that they got there man and that they will support him. even who we got fans would be disappointed or happy. and if we would have taken anyone else. how can we know that he would have been better?

 

 

I am really happy with Ashley and that there are here and not fat fred. they know how to run a company. they have a plan that I like. to say that the debt that the payed of did not matter that it is good to have debts it is just bullshit. man. ashley have got us debt less and this is a superb thing for the club.

 

 

the future is bright. the future is Ashley and Mort!

 

It might not be perfect English but it makes perfect sense

 

[sicsfingeredmong]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, *the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

The significant mistake, amidst all the transfer strategy cautiousness delivered by Mort & Ashley which has already been cited, which may well bring about our relegation.

 

That mistake is the one that counts the most. That one month will go down as a 'not to do' blueprint for other clubs to go by. If we survive the drop, and if Keegan isn't sufficiently backed - surely promises must've have been made when considering the manner in which Keegan originally left - in the Summer as far as i'm concerned Ashley can bring in the scaffolders have them remove his "...... Direct" advertising and sell-up & bugger off, sooner rather than later that is.

 

*Yet some many people still can't see the point. I guess 'not being Freddy Shepherd' is one factor, along with all the other stuff ie. Ashley's "i stand as the leader of Toon Army - i bleed as they do" warcry in the press and by getting down & dirty in the terraces and generally coming across as your everyday grassroots supporter.... and the debt reduction issue is also a relevant point, which weighs in Ashley & Mort's favour at the minute.

[Lotus]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, *the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

Tbh, the reason we're in a relegation struggle is to do with the 1st team managers we've had so far this season. BSA should have got far more out of the players available to him and KK hasn't had the customary honeymoon period. This is so blindingly obvious to me i really don't see howwonder

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, *the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

The significant mistake, amidst all the transfer strategy cautiousness delivered by Mort & Ashley which has already been cited, which may well bring about our relegation.

 

That mistake is the one that counts the most. That one month will go down as a 'not to do' blueprint for other clubs to go by. If we survive the drop, and if Keegan isn't sufficiently backed - surely promises must've have been made when considering the manner in which Keegan originally left - in the Summer as far as i'm concerned Ashley can bring in the scaffolders have them remove his "...... Direct" advertising and sell-up & bugger off, sooner rather than later that is.

 

*Yet some many people still can't see the point. I guess 'not being Freddy Shepherd' is one factor, along with all the other stuff ie. Ashley's "i stand as the leader of Toon Army - i bleed as they do" warcry in the press and by getting down & dirty in the terraces and generally coming across as your everyday grassroots supporter.... and the debt reduction issue is also a relevant point, which weighs in Ashley & Mort's favour at the minute.

The significant mistake, amidst all the transfer strategy cautiousness delivered by Mort & Ashley which has already been cited, which may well bring about our relegation.

 

That mistake is the one that counts the most. That one month will go down as a 'not to do' blueprint for other clubs to go by. If we survive the drop, and if Keegan isn't sufficiently backed - surely promises must've have been made when considering the manner in which Keegan originally left - in the Summer as far as i'm concerned Ashley can bring in the scaffolders have them remove his "...... Direct" advertising and sell-up & bugger off, sooner rather than later that is.

 

*Yet some many people still can't see the point. I guess 'not being Freddy Shepherd' is one factor, along with all the other stuff ie. Ashley's "i stand as the leader of Toon Army - i bleed as they do" warcry in the press and by getting down & dirty in the terraces and generally coming across as your everyday grassroots supporter.... and the debt reduction issue is also a relevant point, which weighs in Ashley & Mort's favour at the minute.

 

Tbh, the reason we're in a relegation struggle is to do with the 1st team managers we've had so far this season. BSA should have got far more out of the players available to him and KK hasn't had the customary honeymoon period.

 

I've not come to any conclusions yet re: the new owners but i know they had nothing to do with points dropped against Derby, etc.

[Kitman]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, *the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

The significant mistake, amidst all the transfer strategy cautiousness delivered by Mort & Ashley which has already been cited, which may well bring about our relegation.

 

That mistake is the one that counts the most. That one month will go down as a 'not to do' blueprint for other clubs to go by. If we survive the drop, and if Keegan isn't sufficiently backed - surely promises must've have been made when considering the manner in which Keegan originally left - in the Summer as far as i'm concerned Ashley can bring in the scaffolders have them remove his "...... Direct" advertising and sell-up & bugger off, sooner rather than later that is.

 

*Yet some many people still can't see the point. I guess 'not being Freddy Shepherd' is one factor, along with all the other stuff ie. Ashley's "i stand as the leader of Toon Army - i bleed as they do" warcry in the press and by getting down & dirty in the terraces and generally coming across as your everyday grassroots supporter.... and the debt reduction issue is also a relevant point, which weighs in Ashley & Mort's favour at the minute.

 

I get the impression that without Ashley's money our club would have been well and truly in the clarts by now, Leeds stylee.  I think from the last financial statements the club was teetering on the brink of being insolvent.   We're totally in the s*** as far as the league's concerned, and I'm gutted about how this season's turning out, but at least I'm not worried about us going bust.

[TRon]

As long as the chairman learns from his mistakes, something which Shepherd never learned to do, I'll be very happy.

 

At the moment, *the only mistake hes made is not sacking Big Sam sooner and bringing Keegan in before the opening of the January transfer window.

 

The significant mistake, amidst all the transfer strategy cautiousness delivered by Mort & Ashley which has already been cited, which may well bring about our relegation.

 

That mistake is the one that counts the most. That one month will go down as a 'not to do' blueprint for other clubs to go by. If we survive the drop, and if Keegan isn't sufficiently backed - surely promises must've have been made when considering the manner in which Keegan originally left - in the Summer as far as i'm concerned Ashley can bring in the scaffolders have them remove his "...... Direct" advertising and sell-up & bugger off, sooner rather than later that is.

 

*Yet some many people still can't see the point. I guess 'not being Freddy Shepherd' is one factor, along with all the other stuff ie. Ashley's "i stand as the leader of Toon Army - i bleed as they do" warcry in the press and by getting down & dirty in the terraces and generally coming across as your everyday grassroots supporter.... and the debt reduction issue is also a relevant point, which weighs in Ashley & Mort's favour at the minute.

 

This idea that because we couldn't buy in the January transfer window, we have endangered the club's Premier future sounds damning, but when you look at the actual circumstances it was perfectly understandable. The money wasn't going to be released to Allardyce because we didn't want to buy any more Smiths, Bartons or Nolans etc. He was sacked for abysmal results during an easy early fixture list (KK's now suffering the consequences). Keegan couldn't get in the players he wanted in a very short space of time, and here we are.

 

What could we have done differently? Kept Allardyce which would have meant starting again in the summer. Is that the argument?

[UV]

I get the impression that without Ashley's money our club would have been well and truly in the clarts by now, Leeds stylee.  I think from the last financial statements the club was teetering on the brink of being insolvent.  We're totally in the s*** as far as the league's concerned, and I'm gutted about how this season's turning out, but at least I'm not worried about us going bust.

 

Yes, Mort tries to give that impression at every opportunity he can doesn't he.

[Kitman]

I get the impression that without Ashley's money our club would have been well and truly in the clarts by now, Leeds stylee.  I think from the last financial statements the club was teetering on the brink of being insolvent.   We're totally in the s*** as far as the league's concerned, and I'm gutted about how this season's turning out, but at least I'm not worried about us going bust.

 

Yes, Mort tries to give that impression at every opportunity he can doesn't he.

 

Actually it's the accounts that give that impression.  A loss of 32.9m for a 12 month period and an injection of 75m needed to prevent the auditors qualifying the accounts as not being a going concern, according to the Guardian.

[Guest alex]

Apologies if already posted (from .com):

Laughing all the

way to the brink

 

From The Journal, Monday:

 

The full financial picture of Newcastle United when billionaire owner Mike Ashley took control has been revealed in the club’s accounts.

Massive sums were spent on failing to get casino plans off the ground (£5m) and sacking manager Glenn Roeder (£1.1m), and a staggering £1.1m was paid to director Douglas Hall as a golden handshake on his departure from the club.

 

The accounts say Mr Ashley had to plough £75m into the club to keep it afloat.

 

Further expenditure included nearly £3m spent preparing the club for previous takeover bids that never happened – and refinancing the business before the buyout was completed.

 

The full picture for the last year of the Shepherd and Hall families’ reign at the club shows large debts, a worryingly large wage bill and poor footballing performances sending gate receipts down and hurting the club’s bottom line.

 

The accounts show former chairman Freddie Shepherd was being paid £500,000 a year, along with private health benefits, before being replaced by Chris Mort. Compensation paid to him will show up in next year’s accounts.

 

In total, Douglas Hall was paid £1.62m by the club, which included his compensation, his £448,654 salary and a private healthcare allowance.

 

Chairman Chris Mort said in a statement: “Team performance in the 2006/07 FA Premier League fell below the level that the board of directors and the supporters regard as acceptable, culminating in a disappointing 13th-place finish and no European football in 2007/08.”

 

Mr Mort outlined the club’s ambition as “securing its position among the top teams in England and competing in Europe on a regular basis”.

 

He goes on: “Following the changes in ownership and team management, the group has invested significant sums in the playing squad and infrastructure of the club.”

 

The accounts show that despite the club’s earnings from gate receipts and merchandise rising on the previous year, it made a loss of £32.9m, more than £20m greater than in 2006.

 

The club’s wage bill was £62.5m, up more than £10m from 2006, due to the signing of Damian Duff, Obafemi Martins, Joey Barton and David Rozenhal. That meant 72% of the money generated by Newcastle United is paid out in wages – a long way from the 50% level recommended by football finance experts.

 

And the figures would be have been even worse had the FA not paid £6.7m in compensation to the club after £17m striker Michel Owen was injured.

 

The accounts also state that the Magpies were in partnership with MGM Mirage. MGM paid £5m to the club for its stake in land next to St James’s. However, the terms of the deal were that this cash had to be paid back in January 2008 if UK gaming laws were not deregulated.

 

 

 

[quayside]

I get the impression that without Ashley's money our club would have been well and truly in the clarts by now, Leeds stylee.  I think from the last financial statements the club was teetering on the brink of being insolvent.   We're totally in the s*** as far as the league's concerned, and I'm gutted about how this season's turning out, but at least I'm not worried about us going bust.

 

Yes, Mort tries to give that impression at every opportunity he can doesn't he.

 

Actually it's the accounts that give that impression.  A loss of 32.9m for a 12 month period and an injection of 75m needed to prevent the auditors qualifying the accounts as not being a going concern, according to the Guardian.

 

Yes - that is more or less what the accounts say. Whether insolvency was a certainty without Ashley is another issue. The club would have had to find some more funding to get the auditors to give it an unqualified report. They had in fact spent nearly £3 million on a project designed to achieve that iirc. They probably would have got the backing from somewhere but it would obviously involve more debt and I can't believe that there would have been huge pots of money to spend on transfers in the near future.

 

FWIW although the club is on a more secure financial footing now I don't think that Ashley and Mort should be beyond criticism for their running of it. 

[UV]

I get the impression that without Ashley's money our club would have been well and truly in the clarts by now, Leeds stylee.  I think from the last financial statements the club was teetering on the brink of being insolvent.  We're totally in the s*** as far as the league's concerned, and I'm gutted about how this season's turning out, but at least I'm not worried about us going bust.

 

Yes, Mort tries to give that impression at every opportunity he can doesn't he.

 

Actually it's the accounts that give that impression.  A loss of 32.9m for a 12 month period and an injection of 75m needed to prevent the auditors qualifying the accounts as not being a going concern, according to the Guardian.

 

Yes - that is more or less what the accounts say. Whether insolvency was a certainty without Ashley is another issue. The club would have had to find some more funding to get the auditors to give it an unqualified report. They had in fact spent nearly £3 million on a project designed to achieve that iirc. They probably would have got the backing from somewhere but it would obviously involve more debt and I can't believe that there would have been huge pots of money to spend on transfers in the near future.

 

FWIW although the club is on a more secure financial footing now I don't think that Ashley and Mort should be beyond criticism for their running of it. 

 

I hadn't seen that article actually, so fair enough. He does keep harping on about it though. Am I wrong in thinking that a large part of that £75m was due to the stadium loan which had to be refinanced because of the takeover? ie if we had not been taken over that wouldn't have been part of the equation and was a long standing debt which was paying for itself over time?

 

FWIW I'm not saying there wouldn't have had to be cutbacks under the old board, or that the takeover was a bad thing, just that we weren't as close to bankruptcy as is being made out.