NJS Posted October 10, 2008 Share Posted October 10, 2008 Weren't there other interested buyers before Ashley who pulled out after doing due diligence once they realised that £45m would have to be paid off within a month of the takeover? I can't remember reading the reasons but its fair to say it was a cunt's trick by the Halls. Link to post Share on other sites More sharing options...
NJS Posted October 10, 2008 Share Posted October 10, 2008 I am actually really worried now that this will drag out for a very long time. I know they have given a deadline but after reading Keith Harris doesnt know how long it will take doesnt inspire confidence of a quick sell. I share the concern but hope it may force him to lower the price - especially if other areas of his business are short of cash. Link to post Share on other sites More sharing options...
themanupstairs Posted October 10, 2008 Share Posted October 10, 2008 Always said that this crisis would affect the Prem - BIG changes on the way, wouldn't be surprised to see some clubs in receivership, which means relegation... Whatever Ashley's faults, at least he has put NUFC in a relatively solid financial position and it WILL be an attractive sale once the crisis starts to ease...but this may take a year or so, maybe more. Unchartered waters lie ahead for English football as we knew it.... I don't know whether to be afraid for the club or happy for the club, but yes, you're quite spot on. I hope we're one of the ones left standing when the dust has settled. Link to post Share on other sites More sharing options...
themanupstairs Posted October 10, 2008 Share Posted October 10, 2008 I am actually really worried now that this will drag out for a very long time. I know they have given a deadline but after reading Keith Harris doesnt know how long it will take doesnt inspire confidence of a quick sell. I share the concern but hope it may force him to lower the price - especially if other areas of his business are short of cash. The minimum he will go is what he bought it for + what he paid out to cover the debts. He would be foolish to accept anything lower, even if he's in a "cut my losses" mind-set. Link to post Share on other sites More sharing options...
thomas Posted October 10, 2008 Share Posted October 10, 2008 He may just pull a Doug Ellis and run the club out of spite for 40 years. Link to post Share on other sites More sharing options...
quayside Posted October 10, 2008 Share Posted October 10, 2008 http://www.guardian.co.uk/football/2008/oct/10/premierleague-newcastleunited Ashley - whose company Sports Direct is now worth £168m compared to £1.7bn in February because of the stockmarket crash Is that right - his company has lost 90% of it's value in 8 months??? It is right but a huge amount of that loss in value happened before the recent stock market crash. It floated at £3 a share and just before the crash the market price was about 75p, since the crash it has gone down to 40p. Since it floated Sports Direct has been a disaster - profit warnings, corporate governance issues, poor PR, poor communication with investors.....you name it. Link to post Share on other sites More sharing options...
ChezGiven Posted October 10, 2008 Share Posted October 10, 2008 Can someone explain what "He has invested a lot in the academy" actually means? Also wiping out the debt as a bragging point is pointless if it's included in the price. But surely it makes the club a more viable option - especially in these times. Say the debt was £100m and he hadn't paid it off - the price could then be £200m with the new owneres knowing that they needed another £100m. As it is the price is £300m - no difference. In fact if the debt did still exist a new owner would have the option of servicing the debt instead of paying it off which you could argue would make it more attractive. This is compliacted by Ashley being forced to pay a lot of it off but the point stands - being debt free would only be an advantage if Ashley was staying. Interest rates. Thats the bit you're missing. The effect of the stockmarket is enormous too and cant be discounted as an influence on the sale of the club. It is arguably driving it and has been for some time. When Ashley bought the club, it was probably influenced to some extent by the fact that finding the right equity on the market to hold your money in was harder than ever. Putting it all into a commodity like NUFC whose 'value' was likely to 'track' the interest and popularity of football (as opposed to tracking the whims of a bear market) is a solid investment strategy. In reality, he financed the purchase of NUFC through the cash he received from the equity sell off of Sports Direct. The source of his income was the equity in his company. This is how most large investors make money (the arabs do it by inflating the price of the commodity they sell and artificially holding it there, so as to massively inflate the value of their assets) and why today, these investors are all, for now, worth a hell of a lot less. Everyone with money holds their money in different places, either in equities, bonds, futures, currencies, commodities etc. As the markets drop, the spot value of the investor's portfolio and hence wealth falls too. The credit crisis is therefore affecting everyone who has money as if they have it in large enough amounts, it isnt in a bank account, its on the market (losing its value). When people are making large amounts of money and we are in a 'bull' market, then investors get 'bullish' and think 'yes, i can invest £300m into a football club and turn that into £400m in a few years' because they know that the value of the club will rise no matter the success (unless relegated). With the premier league also reliant on debt to 'grow' and with interest rates high, causing debt to become more expensive, the credit crisis knocking confidence from investors and pushing down their value and wealth, an investment into a football club is looking worse now than it was 18 months ago. Link to post Share on other sites More sharing options...
KaKa Posted October 10, 2008 Share Posted October 10, 2008 So we are stuck with an owner who is no longer willing to invest in the squad. Our head of recruitment has also left anyway. If this isn't sorted in time for us to sort out the team in January, we are in serious trouble. To think everything could have been so settled right now, with the club in a comfortable and secure position, had we just had the manager still in place. We are so screwed. Link to post Share on other sites More sharing options...
Guest Edd Posted October 10, 2008 Share Posted October 10, 2008 Can someone explain what "He has invested a lot in the academy" actually means? Also wiping out the debt as a bragging point is pointless if it's included in the price. But surely it makes the club a more viable option - especially in these times. But as was mentioned by Keith Harris, the club is still in debt, but the debt is now owed to Mike Ashley. If he paid off the debt, and put the club up for sale at the price he paid for the club, i.e £134m, then you could say yes, he has paid off the debt. But as he is adding the debt amount onto his sale figure (circa £250m), then the debt exists in some form to any potential buyer, so effectively is still there. Sorry mate but that's bollocks and I had to correct someone yesterday too. Keith Harris actually said the club is not in debt. Link to post Share on other sites More sharing options...
Skirge Posted October 10, 2008 Share Posted October 10, 2008 SHOCK HORROR he may have to say eh, like that was not obvious, he was never going sell unless some fool did offer him the stupid price he wanted. Does he really think we will settle for him staying, he cannot honestly think anyone believes he tried to sell the club. Link to post Share on other sites More sharing options...
ChezGiven Posted October 10, 2008 Share Posted October 10, 2008 SHOCK HORROR he may have to say eh, like that was not obvious, he was never going sell unless some fool did offer him the stupid price he wanted. Does he really think we will settle for him staying, he cannot honestly think anyone believes he tried to sell the club. What the fuck are you on about man? Link to post Share on other sites More sharing options...
Parky Posted October 10, 2008 Share Posted October 10, 2008 SHOCK HORROR he may have to say eh, like that was not obvious, he was never going sell unless some fool did offer him the stupid price he wanted. Does he really think we will settle for him staying, he cannot honestly think anyone believes he tried to sell the club. The truth is out there. Link to post Share on other sites More sharing options...
Skirge Posted October 10, 2008 Share Posted October 10, 2008 SHOCK HORROR he may have to say eh, like that was not obvious, he was never going sell unless some fool did offer him the stupid price he wanted. Does he really think we will settle for him staying, he cannot honestly think anyone believes he tried to sell the club. What the f*** are you on about man? Ashley may have to stay as sale of NUFC uncertain NEWCASTLE United fans have been warned it is far from certain Mike Ashley will be able to find a buyer for the club in the current economic climate, despite initial interest from several overseas consortia. http://www.journallive.co.uk/nufc/newcastle-united-news/2008/10/10/ashley-may-have-to-stay-as-sale-of-nufc-uncertain-61634-22004777/ Link to post Share on other sites More sharing options...
NJS Posted October 10, 2008 Share Posted October 10, 2008 Sorry mate but that's bollocks and I had to correct someone yesterday too. Keith Harris actually said the club is not in debt. The Journal article mentions the debt now being equity as explained by Chez - Equity which Ashley has made part of the sale price. Link to post Share on other sites More sharing options...
ChezGiven Posted October 10, 2008 Share Posted October 10, 2008 SHOCK HORROR he may have to say eh, like that was not obvious, he was never going sell unless some fool did offer him the stupid price he wanted. Does he really think we will settle for him staying, he cannot honestly think anyone believes he tried to sell the club. What the f*** are you on about man? Ashley may have to stay as sale of NUFC uncertain NEWCASTLE United fans have been warned it is far from certain Mike Ashley will be able to find a buyer for the club in the current economic climate, despite initial interest from several overseas consortia. http://www.journallive.co.uk/nufc/newcastle-united-news/2008/10/10/ashley-may-have-to-stay-as-sale-of-nufc-uncertain-61634-22004777/ I was aware of the story, i was just wondering how we have gone from during the summer when "He's secretly trying to sell the club!!" to having appointed a broker to do just that job to "he cannot honestly think anyone believes he tried to sell the club.". The missing piece is "logic", as in "What the f*** are you on about man?" Link to post Share on other sites More sharing options...
merlin Posted October 10, 2008 Share Posted October 10, 2008 When all the panic dies down and there has been a big shake-up in the Prem, NUFC will be in a very strong position to advance ; the club is very fortunate to have a large fan-base despite decades of under-achievement and far less liabilities than clubs like Arsenal, for example(the Emirates to pay for). Players wages will HAVE to fall, as will transfer fees(anyone seen just how much money Abramovitch has lost over the past 2 weeks..!??)so in the long term , clubs with the big fan bases will rise to the top because sponsorship will be reduced significantly - as will Sky income.... Link to post Share on other sites More sharing options...
Guest Edd Posted October 10, 2008 Share Posted October 10, 2008 Sorry mate but that's bollocks and I had to correct someone yesterday too. Keith Harris actually said the club is not in debt. The Journal article mentions the debt now being equity as explained by Chez - Equity which Ashley has made part of the sale price. Yes and equity is not debt whether it's part of the sale price or not. Link to post Share on other sites More sharing options...
Skirge Posted October 10, 2008 Share Posted October 10, 2008 I am on about the fact I do not think he really wants to sell the club!!! Link to post Share on other sites More sharing options...
Guest Alan Shearer 9 Posted October 10, 2008 Share Posted October 10, 2008 I am on about the fact I do not think he really wants to sell the club!!! God And people on here have a go at liverpool fans. What an embarrassment we've become. Link to post Share on other sites More sharing options...
NJS Posted October 10, 2008 Share Posted October 10, 2008 Sorry mate but that's bollocks and I had to correct someone yesterday too. Keith Harris actually said the club is not in debt. The Journal article mentions the debt now being equity as explained by Chez - Equity which Ashley has made part of the sale price. Yes and equity is not debt whether it's part of the sale price or not. As I said it could be described as semantics - if there was no debt/equity the price would be approx £100m less - so an owner has to find that amount anyway - although I accept from Chez's explanation that equity is prefereable. The "he has cleared the debt" statement is being sold as if Ashley got his wallet out and handed over the cash which means it's "gone" forever - that is clearly NOT the case and I'm sick of people talking as if it was an altrustic act on his part. If he was to remain as owner then the debt not being on the clubs book would be good - but even if he stays for 5 years he'd still want that back. I'd also argue that given the choice between finishing 13th every year and being debt free and taking on a serviceable level of debt and showing some ambition. I'd take the latter. Link to post Share on other sites More sharing options...
Disco Posted October 10, 2008 Share Posted October 10, 2008 If we're not buying in January if Ashley is still in charge we better not fucking offload anymore players. Link to post Share on other sites More sharing options...
geordie jamie Posted October 10, 2008 Share Posted October 10, 2008 How would you feel if someone purchased 50% of the club now with MA matching the transfer kitty then when the "credit crunch" settles down buys the other 50%? Link to post Share on other sites More sharing options...
OzzieMandias Posted October 10, 2008 Share Posted October 10, 2008 I'd feel surprised. Link to post Share on other sites More sharing options...
geordie jamie Posted October 10, 2008 Share Posted October 10, 2008 Suprised yes but it would be better than MA staying in complete control as someone will want to actually improve our position and want to be there. Link to post Share on other sites More sharing options...
LooneyToonArmy Posted October 10, 2008 Share Posted October 10, 2008 KFC boss to take over Toon? Published Date: 10 October 2008 A MULTI-billionaire Arab businessman who brought KFC to Kuwait is the frontrunner to buy Newcastle United. Nasser Al-Kharafi, 65, built his £8.13bn fortune with exclusive franchise deals across the Middle East for Kentucky Fried Chicken, Pizza Hut, Wimpy and TGI Fridays, as well as a huge construction empire. Now the world's 48th richest man – who was linked with a bid for the club last month – may grab the ultimate takeaway from Tyneside, according to reports today. A national newspaper said sources in the Middle East have confirmed Al-Kharafi's bid team has received the four-page 'teaser' document for buyers prepared by owner Mike Ashley and investment bank Seymour Pierce. The source went on to tell the newspaper Al-Kharafi was interested when the club first became available, and was still interested. They added: "He cannot comment on any deal because he has signed the confidentiality agreements which binds all interested parties. But he has the money to make it work." http://www.shieldsgazette.com/nufc/KFC-boss-to-take-over.4580680.jp Link to post Share on other sites More sharing options...
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