Boey_Jarton 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. The market value of the club before was approximately 210m, but approximately 80m of this value was attributable to debt holders not the shareholders. Since Ashley was buying into the equity of NUFC, he paid the MV of this equity net of the debt , i.e 130m ish. Now there is no debt (or very little) , the MV of NUFC would be attributable solely to the equity holders, so any sale by Ashley would obviously be at around the 200m + mark. Ashley is obviously going to include the debt he paid off in the selling price because this would be the price that reflects its economic worth. Ashley has paid off the debt - the fact this had lead to an increase in his selling price of the club is irrelevant. Link to post Share on other sites More sharing options...
NJS Posted October 10, 2008 Share Posted October 10, 2008 Ashley is obviously going to include the debt he paid off in the selling price because this would be the price that reflects its economic worth. Ashley has paid off the debt - the fact this had lead to an increase in his selling price of the club is irrelevant. How is the price irrelevant? - my whole point is that whether its debt or equity as MV of the club, the price reflects that amount. Using "Ashley has paid off the debt" as a positive statement to the level it is being pushed is crap to me. If they kept saying "Ashley has expedited the debt situation by including it in the club as equity which is advantageous from a business pov" then it would be a lot more true. The way most people read "Ashely has paid off the debt" as it being the equivalent of someone paying up the remainder of a personal loan after getting a bit of cash in is the bit I find objectionable. Link to post Share on other sites More sharing options...
Teasy 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 Anyone know which paper they're referring too? Link to post Share on other sites More sharing options...
Consortium of one Posted October 10, 2008 Share Posted October 10, 2008 Paying off a lot of debt would raise the value of the club. Debt is common in business and paying down X debt does not necessarily raise the value of the club by X. Sometimes it could be more, sometimes less depending on other issues such as the value of assets and other liabilities and cash flow as well as outside influences, such as the economic climate. Ashley should have been able to move the club rather quickly and probably withe a decent return on his investment had it not been for this sudden downturn. I think we are stuck with him at least until the global situation improves. The good news is that the club *should* be in good financial standing while a lot of other clubs will not be. That's kind of like kissing your sister, though, because the only improvements seen on the pitch will be gained solely by injured players returning. Link to post Share on other sites More sharing options...
Skirge 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 Anyone know which paper they're referring too? No idea google news finds nothing.. This was him being told how much AShley wants. http://www.greatpriceshere.com/Images/Nasser-Al-Kharafi.jpg Link to post Share on other sites More sharing options...
Newcastle Fan Posted October 10, 2008 Share Posted October 10, 2008 Doubt Nasser Al-Kharafi will be intrested to buy us. There is one decent Kuwaiti buyer in Marzoog Al Ghanem, who's a huge football fan and an owner of one of the club's there, he also helped to bring the Brazilian national team to play in Kuwait a year or so ago, but i don't think he has the Finance to buy us. Link to post Share on other sites More sharing options...
Mick Posted October 10, 2008 Share Posted October 10, 2008 I'm not a financial expert but I'd hate to be running a company or a football club who were carrying much debt at this time. Especially if they were looking to re-finance. If football goes tits up we'll be in a strong position, I'm not sure how many clubs can say that, my guess would be very few. Link to post Share on other sites More sharing options...
Disco Posted October 10, 2008 Share Posted October 10, 2008 would improve catering facilities at SJP if he took over at least. Link to post Share on other sites More sharing options...
Incognito Posted October 10, 2008 Share Posted October 10, 2008 would improve catering facilities at SJP if he took over at least. Carr would be back like a shot. Link to post Share on other sites More sharing options...
ikri 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 Anyone know which paper they're referring too? Was in the Mirror this morning. Couldn't see a link on their site when I looked earlier though. Link to post Share on other sites More sharing options...
Optimistic Nut Posted October 10, 2008 Share Posted October 10, 2008 Well it doesn't look like Zabeel Investments anymore. Charlton have confirmed they've made an offer for them. Link to post Share on other sites More sharing options...
1878 Posted October 10, 2008 Share Posted October 10, 2008 No official bids for Newcastle (scroll down a bit) http://www.bbc.co.uk/blogs/thereporters/mihirbose/2008/10/everton_on_verge_of_sale.html Link to post Share on other sites More sharing options...
Guest Antec Posted October 10, 2008 Share Posted October 10, 2008 No official bids for Newcastle (scroll down a bit) http://www.bbc.co.uk/blogs/thereporters/mihirbose/2008/10/everton_on_verge_of_sale.html Probably imminent then since that Bose rarely gets anything right Link to post Share on other sites More sharing options...
NE5 Posted October 10, 2008 Share Posted October 10, 2008 No official bids for Newcastle (scroll down a bit) http://www.bbc.co.uk/blogs/thereporters/mihirbose/2008/10/everton_on_verge_of_sale.html Probably imminent then since that Bose rarely gets anything right he's an arsehole him like. Read an article by him years ago about the building of the New Wembley, when it was stalling, and he said the FA should get the help of the sunderland chairman Bob Reid who knew how to build stadiums quickly and efficiently. Bob Reid ? mackems.gif Never read owt by him again. Link to post Share on other sites More sharing options...
womblemaster Posted October 10, 2008 Share Posted October 10, 2008 some arabs gonna buy charlton instead of us. bloody cheapskates! Link to post Share on other sites More sharing options...
Guest michaelfoster Posted October 10, 2008 Share Posted October 10, 2008 Free bucket of chicken wings with every season ticket Link to post Share on other sites More sharing options...
NG32 Posted October 11, 2008 Share Posted October 11, 2008 Jesus wept, been on hoiday for a week and we still haven't been sold. Nobody loves us :-[ Link to post Share on other sites More sharing options...
geordie jamie Posted October 11, 2008 Share Posted October 11, 2008 its not only that we have not been sold it doesnt seem like anything is going to happen in the near future Link to post Share on other sites More sharing options...
Mick Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. Link to post Share on other sites More sharing options...
lovejoy Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. i honestly believe it could be done though Link to post Share on other sites More sharing options...
NG32 Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. i honestly believe it could be done though Nah, i'm now totally convinced it was a short term purchase and sell on. First chance he go tto bail out and he did. We are to be flogged end of. Link to post Share on other sites More sharing options...
NE5 Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. i honestly believe it could be done though its easy. Ashley admit he's fucked up, get shot of Wise etc, re-appoint Keegan, back him to strengthen the team in January and its done. We aren't talking loads of money here, Keegan is responsible when it comes to getting value for money. Just back him and let us see that he understands how football works, its different to normal business. If he doesn't like that, then OK look for someone else in the longer term. I'm pretty much convinced now that he never really wanted or understood what it took to live with the big boys and now he knows he won't be wanting to stay, if he ever did. Link to post Share on other sites More sharing options...
lovejoy Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. i honestly believe it could be done though its easy. Ashley admit he's f***ed up, get shot of Wise etc, re-appoint Keegan, back him to strengthen the team in January and its done. We aren't talking loads of money here, Keegan is responsible when it comes to getting value for money. Just back him and let us see that he understands how football works, its different to normal business. If he doesn't like that, then OK look for someone else in the longer term. I'm pretty much convinced now that he never really wanted or understood what it took to live with the big boys and now he knows he won't be wanting to stay, if he ever did. aye, thats my point, its not hard to fix, he could do it tomorrow if he wanted, but he isn't, which says an awful lot. Link to post Share on other sites More sharing options...
NE5 Posted October 11, 2008 Share Posted October 11, 2008 If we don't get a new owner then a lot of bridge building is going to be necessary. i honestly believe it could be done though its easy. Ashley admit he's f***ed up, get shot of Wise etc, re-appoint Keegan, back him to strengthen the team in January and its done. We aren't talking loads of money here, Keegan is responsible when it comes to getting value for money. Just back him and let us see that he understands how football works, its different to normal business. If he doesn't like that, then OK look for someone else in the longer term. I'm pretty much convinced now that he never really wanted or understood what it took to live with the big boys and now he knows he won't be wanting to stay, if he ever did. aye, thats my point, its not hard to fix, he could do it tomorrow if he wanted, but he isn't, which says an awful lot. aye. As usual its the supporters who pay the price. Link to post Share on other sites More sharing options...
Guest Chubby Jason Posted October 11, 2008 Share Posted October 11, 2008 KEEGAN OPEN TO TOON RETURN Posted 11/10/08 11:31 Email Print Save Prem Relegation 2008/09 Win Outright: Newcastle 3/1 League Managers Association chief executive Richard Bevan says Kevin Keegan is prepared to return to Newcastle United under the right structure. Keegan left his position as Newcastle boss last month after being unable to work under the management set up created by Mike Ashley. The Magpies' owner has subsequently put the club up for sale following a fans' backlash in response to Keegan's exit from St James' Park. Several consortiums have shown an interest in buying out Ashley, with some keen to reappoint Keegan for a third spell on Tyneside. The former England coach is open to returning to the position, but Bevan insists there must be a change in the structure for that to happen. "Numerous people, including a group of Newcastle supporters, have contacted Kevin and myself saying, 'Would he be interested in coming back?'" said Bevan in The Sun. "Kevin didn't want to leave. He has a great passion for the club. "But the structure has to be right. He doesn't want to go through that again. "Kevin can't make any decision until the club has been sold." Vice-president Tony Jimenez left his post on Thursday, while Joe Kinnear has taken interim charge while Ashley looks to sell the club. Link to post Share on other sites More sharing options...
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