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"This club had £100million-worth of debt which has now been cleared and it would be foolish to stretch it beyond its limits.

 

 

I HATE this quote!

 

I am right in saying that the most of the debt Ashley inherited was in relation to the level seven expansion, aren't I?! It was secured against 40K season ticket sales up until 2015 but needed to be paid within 30 days IF a sale of the Club went through!

 

Thats right, the loan was secured against the stadium expansion and extra ST sales.  Iirc that loan had to be paid up in full when the club was sold which is why Ashley had to fork out the extra money.  This should have been highlighted in due diligence for Ashley to consider.  If due diligence was ever carried out in full of course.

 

Why Ashley couldn't remortgage I dunno and why he refused to use the overdraft facility Barclays said he could have I dont know either, he basically strangled NUFC of cash flow.

 

Cheers mate!

 

That £100m figure is used by all of the media and those lot down the road to declare how Ashley saved us as we were going to do a Leeds etc - utter shite!

 

 

 

Yeah we got bashed over the head by it a few times, they totally ignored that the extra ST money was paying this off with mortgage payments, Ashley also refusing the Barclays overdraft facility seemed very odd as well.  I suppose he had a business model that he worked to but for a football club it basically strangled finances, even with the extra TV revenue.  Remember he was also happy to sell players to other clubs with payments stretched over a few seasons but for NUFC he insisted that any new players had to be bought out right in one payment.

 

 

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  • 2 weeks later...

 

"This club had £100million-worth of debt which has now been cleared and it would be foolish to stretch it beyond its limits.

 

 

I HATE this quote!

 

I am right in saying that the most of the debt Ashley inherited was in relation to the level seven expansion, aren't I?! It was secured against 40K season ticket sales up until 2015 but needed to be paid within 30 days IF a sale of the Club went through!

 

Thats right, the loan was secured against the stadium expansion and extra ST sales.  Iirc that loan had to be paid up in full when the club was sold which is why Ashley had to fork out the extra money.  This should have been highlighted in due diligence for Ashley to consider.  If due diligence was ever carried out in full of course.

 

Why Ashley couldn't remortgage I dunno and why he refused to use the overdraft facility Barclays said he could have I dont know either, he basically strangled NUFC of cash flow.

 

Cheers mate!

 

That £100m figure is used by all of the media and those lot down the road to declare how Ashley saved us as we were going to do a Leeds etc - utter shite!

 

 

 

Yeah we got bashed over the head by it a few times, they totally ignored that the extra ST money was paying this off with mortgage payments, Ashley also refusing the Barclays overdraft facility seemed very odd as well.  I suppose he had a business model that he worked to but for a football club it basically strangled finances, even with the extra TV revenue.  Remember he was also happy to sell players to other clubs with payments stretched over a few seasons but for NUFC he insisted that any new players had to be bought out right in one payment.

 

Guessing the Fat Mans logic is by he is able to charge a premium (as well as interest as Derek bragged about when talking about Liverpool being later for a Carroll payment) by selling a player and being paid over time.  On the flip side he will be demanding a discount when he buys a player for paying cash up front.

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  • 2 weeks later...

His management of cash flow makes abs 0 sense when we accepted fees on sales over multiple years but paid everything outward up front.

 

It does a little. Those clubs desperate for money willing to pay less if money up front and those willing to pay more, but unable, over a longer period of time It sounds good, but obviously paying more for a player to help keep us up or finish higher pays the difference off and more.

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  • 1 month later...

Sky Sports were playing the Liverpool v Newcastle epic 4-3 game a few days ago, found myself fully pulled into and all the emotions back in the day came flooding back.  That game was played at some pace from start to finish.  :frantic:

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  • 1 month later...
Guest reefatoon

Utterly depressing. That is how the game of football should be judged. Dream big and aim high. Fuck I miss those days.

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