Newcastle United Finances - 2008 Accounts Recently Filed

[Guest fading star]

 

Enlighten me, why haven’t we splashed the cash?

 

 

I doubt it if you're still having problems understanding the financial situation after 17 pages.

You’re confusing a balance sheet with a business strategy. 

 

You're confusing being clever with trying to look it.

Prove it.

[Liam Liam Liam O]

Prove it.

 

im not sure about that. does the average match going fan really understand the financial stuff enough to realise why we havent splashed the cash this window? i dont think enough do to save him from a backlash/protests if we dont get any more players in by the 2nd.

Enlighten me, why haven?t we splashed the cash?

 

There isn't any cash.

Yes there is, Ashley is a billionaire.

 

That's no longer true. Most recent investment of net worth was £800 million.

 

More than a quarter of that amount has already been sunk into NUFC.

so what?

 

So there isn't any cash.

Yes there is. According to you Ashley still has £600m in the bank.

 

 

f***ing hell, do you actually think about what you write or do you just go blind and let God do his thing?

I clearly think about it more than idiots like you who can’t see the wood for the trees.

 

 

 

Enlighten me.

 

Is it a simple case of him having £600m in his account so he should spend it on NUFC? How much should he spend? On what timescale? Should he expect to get hismoney back?

 

Answers on a postcard - preferably with ink not s***. (Will accept pencil)

 

 

If NUFC can survive relegation they can’t be in that much financial trouble. If they can’t survive relegation what the hell is Ashley doing. Why is he risking everything on the managerial brilliance of JFK when he’s got £600m in the bank. £30m last summer would have ensured our PL status long enough for the new and improved youth development to bear fruit.

 

All through this thread you and others have been making the same mistake Ashley is making. Can you guess what it is?

[fredbob]

Prove it.

 

im not sure about that. does the average match going fan really understand the financial stuff enough to realise why we havent splashed the cash this window? i dont think enough do to save him from a backlash/protests if we dont get any more players in by the 2nd.

Enlighten me, why haven?t we splashed the cash?

 

There isn't any cash.

Yes there is, Ashley is a billionaire.

 

That's no longer true. Most recent investment of net worth was £800 million.

 

More than a quarter of that amount has already been sunk into NUFC.

so what?

 

So there isn't any cash.

Yes there is. According to you Ashley still has £600m in the bank.

 

 

f***ing hell, do you actually think about what you write or do you just go blind and let God do his thing?

I clearly think about it more than idiots like you who can’t see the wood for the trees.

 

 

 

Enlighten me.

 

Is it a simple case of him having £600m in his account so he should spend it on NUFC? How much should he spend? On what timescale? Should he expect to get hismoney back?

 

Answers on a postcard - preferably with ink not s***. (Will accept pencil)

 

 

If NUFC can survive relegation they can’t be in that much financial trouble. If they can’t survive relegation what the hell is Ashley doing. Why is he risking everything on the managerial brilliance of JFK when he’s got £600m in the bank. £30m last summer would have ensured our PL status long enough for the new and improved youth development to bear fruit.

 

All through this thread you and others have been making the same mistake Ashley is making. Can you guess what it is?

 

[Stu]

Seriously, fading star, I know you're a complete Ashley-hater but give it up man, you sound ridiculous. Go back to sitting in the corner and hoying out random anti-Ashley barbs, but don't bother engaging in a conversation when you're so clearly out of your depth and refuse to listen to anyone offering you simple explanations.

 

The depressing thing, is that fading star is probably above average intelligence (of our fans), I mean he's at least managed to turn on the pc and type in his username and password correctly. I wonder what the hell the "bouycoutt bedsheet brigade" have made of the past week...

[Guest fading star]

The Corner. The Corner.

 

[mrmojorisin75]

Seriously, fading star, I know you're a complete Ashley-hater but give it up man, you sound ridiculous. Go back to sitting in the corner and hoying out random anti-Ashley barbs, but don't bother engaging in a conversation when you're so clearly out of your depth and refuse to listen to anyone offering you simple explanations.

 

The depressing thing, is that fading star is probably above average intelligence (of our fans), I mean he's at least managed to turn on the pc and type in his username and password correctly. I wonder what the hell the "bouycoutt bedsheet brigade" have made of the past week...

 

 

 

 

[Zero]

Now it makes you wonder why Ashley brought back Keegan.  That's a terrible decision, very terrible one, considering Keegan's style and his "dream factory" speech.

Ashley fault to be honest.  It's be clearer and clearer that Keegan has been promised to have funds to spend while the truth is we can just afford a few bargaining deals like Jonas and Bassong.

Keegan's right that he was brought in under wrong circumstances --- not the power struggle with Wise, but the non-existance of money.

 

Ashley, while saving us from administration, has 2 very critical appointments failed, and that's why he should take the blame.

Unfortunately he has no power to overturn it now...

[mrmojorisin75]

Now it makes you wonder why Ashley brought back Keegan.   That's a terrible decision, very terrible one, considering Keegan's style and his "dream factory" speech.

Ashley fault to be honest.  It's be clearer and clearer that Keegan has been promised to have funds to spend while the truth is we can just afford a few bargaining deals like Jonas and Bassong.

Keegan's right that he was brought in under wrong circumstances --- not the power struggle with Wise, but the non-existance of money.

 

Ashley, while saving us from administration, has 2 very critical appointments failed, and that's why he should take the blame.

Unfortunately he has no power to overturn it now...

 

one bad appointment then (not counting kinnear 'cause although he's shite the fans shouldn't have forced ashleys hand and boxed him into the corner he ended up in meaning it was probably a choice of kinnear or the tea lady), catching freddy up fast...!  as NE5 says, not easy to pick the right manager eh?

 

i presume the great man (NE5) would allow ashley the same slack he allows FS in this regard?

[Zero]

 

one bad appointment then (not counting kinnear 'cause although he's s**** the fans shouldn't have forced ashleys hand and boxed him into the corner he ended up in meaning it was probably a choice of kinnear or the tea lady), catching freddy up fast...!  as NE5 says, not easy to pick the right manager eh?

 

i presume the great man (NE5) would allow ashley the same slack he allows FS in this regard?

 

2.  Sam Allardyce.  He should sack him right from the beginning.

Ashley has admitted that he thinks Allardyce wasn't appropriate to be the manager and he wanted to appoint another one,

but then he thinks "Well, why not give it a try? If things doesn't go on well then I will sack him"

WTF is this strategy? Give it a try? Sack whenever not impressive enough?

Jesus christ.  It's just like another temporary manager appointment. No stability at all.

 

I don't blame him for not putting money into the transfer market (considering that's the consequence of FS and his interest-free loan)

but he's failed as an owner, simply as that.

 

 

 

 

[mrmojorisin75]

 

one bad appointment then (not counting kinnear 'cause although he's s**** the fans shouldn't have forced ashleys hand and boxed him into the corner he ended up in meaning it was probably a choice of kinnear or the tea lady), catching freddy up fast...!  as NE5 says, not easy to pick the right manager eh?

 

i presume the great man (NE5) would allow ashley the same slack he allows FS in this regard?

 

2.  Sam Allardyce.  He should sack him right from the beginning.

Ashley has admitted that he thinks Allardyce wasn't appropriate to be the manager and he wanted to appoint another one,

but then he thinks "Well, why not give it a try? If things doesn't go on well then I will sack him"

WTF is this strategy? Give it a try? Sack whenever not impressive enough?

Jesus christ.  It's just like another temporary manager appointment. No stability at all.

 

I don't blame him for not putting money into the transfer market (considering that's the consequence of FS and his interest-free loan)

but he's failed as an owner, simply as that.

 

 

 

 

 

still didn't appoint allardyce though did he?

 

but yes, failed as an owner indeed

[matta]

the sums we can save by getting rid of the big earners could actually turn is in to a club that is MAKING money. Thats good i suppose.

 

 

now we just need players .

[mrmojorisin75]

in the 18 pages has anyone looked at where we'd theoretically be if we stayed up and lost, owen, viduka, smith, duff, geremi, butt, barton etc... from the wage bill?

 

i.e. would it free up enough operating money for us to start spending and building or are we basically fucked either way?

[Rebellious]

 

one bad appointment then (not counting kinnear 'cause although he's s**** the fans shouldn't have forced ashleys hand and boxed him into the corner he ended up in meaning it was probably a choice of kinnear or the tea lady), catching freddy up fast...!  as NE5 says, not easy to pick the right manager eh?

 

i presume the great man (NE5) would allow ashley the same slack he allows FS in this regard?

 

2.  Sam Allardyce.  He should sack him right from the beginning.

Ashley has admitted that he thinks Allardyce wasn't appropriate to be the manager and he wanted to appoint another one,

but then he thinks "Well, why not give it a try? If things doesn't go on well then I will sack him"

WTF is this strategy? Give it a try? Sack whenever not impressive enough?

Jesus christ.  It's just like another temporary manager appointment. No stability at all.

 

I don't blame him for not putting money into the transfer market (considering that's the consequence of FS and his interest-free loan)

but he's failed as an owner, simply as that.

 

 

 

 

 

To be honest I would have done the same in the hope BS did ok. Simple reason, No 5mill sacking payout and less of a manager merry go round, you know just to have a slight break from a manager every 9 months or what ever it works out at.  Also maybe its not that simple, well its fact its not that simple getting a decent replacement manager to kill there career here at the drop of a hat.  I can`t remember when exactly timescale wise from when Ashley got his feet under the desk to sort out the actual takeover and when the new season started.

[Guest The Libertine]

Ashley has admitted that he thinks Allardyce wasn't appropriate to be the manager and he wanted to appoint another one,

but then he thinks "Well, why not give it a try? If things doesn't go on well then I will sack him"

WTF is this strategy? Give it a try? Sack whenever not impressive enough?

Jesus christ.  It's just like another temporary manager appointment. No stability at all.

 

concurred. WTF is all this shit about giving a new well respected manager a chance?! should have binned him instantly.

[Guest Vigge]

in the 18 pages has anyone looked at where we'd theoretically be if we stayed up and lost, owen, viduka, smith, duff, geremi, butt, barton etc... from the wage bill?

 

i.e. would it free up enough operating money for us to start spending and building or are we basically f***ed either way?

 

I think we are supposed to be able to rebuild if we restructure and sell/relase some of our more expensive players. If we can survive this season there should be some hopes for a brighter imminent future I think. Someone with a more direct familiarity with the finance report might wish to enlighten us further ?

[mrmojorisin75]

in the 18 pages has anyone looked at where we'd theoretically be if we stayed up and lost, owen, viduka, smith, duff, geremi, butt, barton etc... from the wage bill?

 

i.e. would it free up enough operating money for us to start spending and building or are we basically f***ed either way?

 

I think we are supposed to be able to rebuild if we restructure and sell/relase some of our more expensive players. If we can survive this season there should be some hopes for a brighter imminent future I think. Someone with a more direct familiarity with the finance report might wish to enlighten us further ?

 

yeah, think it's an interesting question myself...might go towards explaining the gamble ashleys taking by not spending now?  [waiting for quayside or someone to come and boot me in the balls now!  ]

[fredbob]

Now it makes you wonder why Ashley brought back Keegan.   That's a terrible decision, very terrible one, considering Keegan's style and his "dream factory" speech.

Ashley fault to be honest.  It's be clearer and clearer that Keegan has been promised to have funds to spend while the truth is we can just afford a few bargaining deals like Jonas and Bassong.

Keegan's right that he was brought in under wrong circumstances --- not the power struggle with Wise, but the non-existance of money.

 

Ashley, while saving us from administration, has 2 very critical appointments failed, and that's why he should take the blame.

Unfortunately he has no power to overturn it now...

 

Which is what most of us have been saying for a long long time. It was bad judgment, although id disagree with you when you say no money was available, i think there was money available, didnt we buy Colocinni before Milner? How did that get funded becasue no matter what you say, if you cant afford it you wouldnt risk a £10m investment on another clubs word to buy your player.

 

There was also the bid for Modric, its up to you to decide if tht was a PR stunt or not, i'd say it wasnt, and id also suggest that if money wasnt available, contrary to what Keegan had been promised, why didnt he walk straight away like he did the 1st time round. It doesnt all quite add up.

 

[Guest Howaythetoon]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

[indi]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

How do you get the impression that they've not been honest about this!?!

 

Everything they've said about the financial side of the club has been proved to be honest.

 

They said that the club was in danger of going out of business when they took over. True.

 

They said that the debts had been paid off. True.

 

All that can be true and there can still be money available to the manager for transfers. Ashley can be prepared to provide the money himself if the manager identifies a player that fits with the club's strategy (Young, value for money both in terms of wages and transfer fee, future potential, etc), that player is available (ie his club is willing to sell), and they want to come here and the club can still be financially in the shit at the moment. Unfortunately, that strategy is going to restrict the number of players available to us, especially within the confines of the ridiculous January transfer window - which surely needs to go, if FIFA/UEFA are serious about encouraging an element of financial realism in football - but that doesn't mean it's wrong. If we're needing to get in  a few fire-fighters to see us through until the end of the season, then fine, but we should try and make them loan signings if they don't fit with the sensible, neigh essential, transfer strategy.

 

The anger comes from people's desire for there to be a hero and a villain in all of this and their subsequent inability to see both sides of the story. People have simply refused to accept that Ashley has had legitimate reasons behind doing what he's done - whether you think he's made mistakes or not - preferring to see him as some kind of evil super-villain whose taken us over simply to destroy the club. That's simply fucking ridiculous and it's about time reality bit for many people, hopefully this is the start of that.

[Liam Liam Liam O]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

You don't think it's more to do with Keegan leaving?

[midds]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

How do you get the impression that they've not been honest about this!?!

 

Everything they've said about the financial side of the club has been proved to be honest.

 

They said that the club was in danger of going out of business when they took over. True.

 

They said that the debts had been paid off. True.

 

All that can be true and there can still be money available to the manager for transfers. Ashley can be prepared to provide the money himself if the manager identifies a player that fits with the club's strategy (Young, value for money both in terms of wages and transfer fee, future potential, etc), that player is available (ie his club is willing to sell), and they want to come here and the club can still be financially in the shit at the moment. Unfortunately, that strategy is going to restrict the number of players available to us, especially within the confines of the ridiculous January transfer window - which surely needs to go, if FIFA/UEFA are serious about encouraging an element of financial realism in football - but that doesn't mean it's wrong. If we're needing to get in  a few fire-fighters to see us through until the end of the season, then fine, but we should try and make them loan signings if they don't fit with the sensible, neigh essential, transfer strategy.

 

The anger comes from people's desire for there to be a hero and a villain in all of this and their subsequent inability to see both sides of the story. People have simply refused to accept that Ashley has had legitimate reasons behind doing what he's done - whether you think he's made mistakes or not - preferring to see him as some kind of evil super-villain whose taken us over simply to destroy the club. That's simply fucking ridiculous and it's about time reality bit for many people, hopefully this is the start of that.

 

Absolutely 100% nailed it indi. Particularly the last paragraph. 

[Guest fading star]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

How do you get the impression that they've not been honest about this!?!

 

Everything they've said about the financial side of the club has been proved to be honest.

 

They said that the club was in danger of going out of business when they took over. True.

 

They said that the debts had been paid off. True.

 

All that can be true and there can still be money available to the manager for transfers. Ashley can be prepared to provide the money himself if the manager identifies a player that fits with the club's strategy (Young, value for money both in terms of wages and transfer fee, future potential, etc), that player is available (ie his club is willing to sell), and they want to come here and the club can still be financially in the s*** at the moment. Unfortunately, that strategy is going to restrict the number of players available to us, especially within the confines of the ridiculous January transfer window - which surely needs to go, if FIFA/UEFA are serious about encouraging an element of financial realism in football - but that doesn't mean it's wrong. If we're needing to get in  a few fire-fighters to see us through until the end of the season, then fine, but we should try and make them loan signings if they don't fit with the sensible, neigh essential, transfer strategy.

 

The anger comes from people's desire for there to be a hero and a villain in all of this and their subsequent inability to see both sides of the story. People have simply refused to accept that Ashley has had legitimate reasons behind doing what he's done - whether you think he's made mistakes or not - preferring to see him as some kind of evil super-villain whose taken us over simply to destroy the club. That's simply f***ing ridiculous and it's about time reality bit for many people, hopefully this is the start of that.

The debts haven’t been paid off they’ve been restructured. In fact NUFC owe more money now than they did when Ashley took over.

[OzzieMandias]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

How do you get the impression that they've not been honest about this!?!

 

Everything they've said about the financial side of the club has been proved to be honest.

 

They said that the club was in danger of going out of business when they took over. True.

 

They said that the debts had been paid off. True.

 

All that can be true and there can still be money available to the manager for transfers. Ashley can be prepared to provide the money himself if the manager identifies a player that fits with the club's strategy (Young, value for money both in terms of wages and transfer fee, future potential, etc), that player is available (ie his club is willing to sell), and they want to come here and the club can still be financially in the shit at the moment. Unfortunately, that strategy is going to restrict the number of players available to us, especially within the confines of the ridiculous January transfer window - which surely needs to go, if FIFA/UEFA are serious about encouraging an element of financial realism in football - but that doesn't mean it's wrong. If we're needing to get in  a few fire-fighters to see us through until the end of the season, then fine, but we should try and make them loan signings if they don't fit with the sensible, neigh essential, transfer strategy.

 

The anger comes from people's desire for there to be a hero and a villain in all of this and their subsequent inability to see both sides of the story. People have simply refused to accept that Ashley has had legitimate reasons behind doing what he's done - whether you think he's made mistakes or not - preferring to see him as some kind of evil super-villain whose taken us over simply to destroy the club. That's simply fucking ridiculous and it's about time reality bit for many people, hopefully this is the start of that.

 

[fredbob]

I'll wait and see what 2008-09 accounts are like. The timing of this is fantastic too. A ready made excuse for not spending any money in the transfer window. Just give us some honesty man and be up front from the off. If the club is financially in the s***, say so, instead of saying the club is debt free, money is available for this and that player, talking about the top 6 etc. They are there own worst enemies and all this anger, frustration and poison stems directly from their dishonesty more than anything else.

 

How do you get the impression that they've not been honest about this!?!

 

Everything they've said about the financial side of the club has been proved to be honest.

 

They said that the club was in danger of going out of business when they took over. True.

 

They said that the debts had been paid off. True.

 

All that can be true and there can still be money available to the manager for transfers. Ashley can be prepared to provide the money himself if the manager identifies a player that fits with the club's strategy (Young, value for money both in terms of wages and transfer fee, future potential, etc), that player is available (ie his club is willing to sell), and they want to come here and the club can still be financially in the shit at the moment. Unfortunately, that strategy is going to restrict the number of players available to us, especially within the confines of the ridiculous January transfer window - which surely needs to go, if FIFA/UEFA are serious about encouraging an element of financial realism in football - but that doesn't mean it's wrong. If we're needing to get in a few fire-fighters to see us through until the end of the season, then fine, but we should try and make them loan signings if they don't fit with the sensible, neigh essential, transfer strategy.

 

The anger comes from people's desire for there to be a hero and a villain in all of this and their subsequent inability to see both sides of the story. People have simply refused to accept that Ashley has had legitimate reasons behind doing what he's done - whether you think he's made mistakes or not - preferring to see him as some kind of evil super-villain whose taken us over simply to destroy the club. That's simply fucking ridiculous and it's about time reality bit for many people, hopefully this is the start of that.

 

Spot on. Couldnt agree more.

 

Delicious post.

 

[ChezGiven]

Superb post Indi, summed up the whole situation very well. Some people should be forced to read that over and over again until the penny drops.