Benwell Lad Posted June 5, 2009 Share Posted June 5, 2009 In amonst all the discussion about our financial position and needing bank facility agreements before decisions can be made etc etc here is more evidence of the imperious nature of banks relationships with football clubs today. In this case a club who, on the surface have everything we could wish for in terms of playing success and yet even for them it looks like trouble could be looming. What hope for a return to the days when football clubs were just that - clubs - and not billionaires toys or parts of of multi-national corporation's portfolios. http://news.bbc.co.uk/1/hi/business/8055814.stm Link to post Share on other sites More sharing options...
Mr Logic Posted June 5, 2009 Share Posted June 5, 2009 Just read that myself, but considering the level of debts some clubs run at - and indeed our own in the past, £40m doesn't seem that much or risky. Link to post Share on other sites More sharing options...
Benwell Lad Posted June 5, 2009 Share Posted June 5, 2009 Just read that myself, but considering the level of debts some clubs run at - and indeed our own in the past, £40m doesn't seem that much or risky. Isn't £40M just the annual amount required to service the debt, which is more like £350M and overdue ? Link to post Share on other sites More sharing options...
beardsleymagic Posted June 5, 2009 Share Posted June 5, 2009 Just read that myself, but considering the level of debts some clubs run at - and indeed our own in the past, £40m doesn't seem that much or risky. Isn't £40M just the annual amount required to service the debt, which is more like £350M and overdue ? I thought Ashley paid off the debt and it was just a 100m interest free loan to him personally, which he is (allegedly) willing to forget about in order to shift the club. Link to post Share on other sites More sharing options...
geordie2000 Posted June 5, 2009 Share Posted June 5, 2009 I think people are getting confused over the Liverpool debt of £350m and £36m interest payments and our debt of £100m interest free with a seperate £40m working capital overdraft facility. Link to post Share on other sites More sharing options...
Benwell Lad Posted June 5, 2009 Share Posted June 5, 2009 I think people are getting confused over the Liverpool debt of £350m and £36m interest payments and our debt of £100m interest free with a seperate £40m working capital overdraft facility. Indeed they are. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted June 5, 2009 Share Posted June 5, 2009 http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/06/05/wait-goes-on-over-alan-shearer-job-situation-72703-23797122/ Link to post Share on other sites More sharing options...
Cronky Posted June 5, 2009 Share Posted June 5, 2009 I'm not a business person, but if I've understood it right, this plan that's been put to the banks is based on Shearer's proposals, and would be part of the package for whoever took over from Ashley. The hope presumably is that Shearer would be put in place now, and be able to begin the task of team-building without delay, and the new owner who might come along further down the line would know what they were getting into financially and on the managerial front. Shearer in place could make the club more attractive, most supporters would be happy and the price of the club would reflect the business plan that was in place. Ashley has concluded - realistically I dare say - that with all that's happened, things will never be right between him and most supporters, and this is the best way forward. I don't know what the chances are of everything falling into place in the way Ashley hopes, but the overall intention seems pretty reasonable in what is a very messy situation. A lot depends on how realistic the plan is in view of our financial position, but it may also flounder on new owners not fancying taking on Shearer and the power he wields through his popularity. They may see a repeat of the Keegan fiasco further down the line and say no thanks, but that's another consideration. It's this sort of thinking that has got us into this mess in the first place. What has been needed is some form of positive action to get the club moving forward on the pitch, not more balancing of the books or fiddling in the hope some used car salesman can flog the club (again). Unless you're going to bankroll a club in the style of Chelsea or Man City, then the books do have to be balanced in the long term. Getting into increasing debt in the hope that the resulting success that enables you to pay off the debt doesn't work in today's climate, and there aren't many sugardaddies around whose pockets are deep enough to really make a difference. Not any more. I don't think Ashley's overall financial strategy was wrong. He made mistakes in his appointments on the football side of things. Link to post Share on other sites More sharing options...
dustynrg Posted June 5, 2009 Share Posted June 5, 2009 Dare i ask? Where's NE5 in all this? Is he keeping a low profile and hoping his hero returns? Link to post Share on other sites More sharing options...
Shearergol Posted June 5, 2009 Share Posted June 5, 2009 http://www.independent.co.uk/sport/football/football-league/ashley-and-shearer-to-learn-bankers-verdict-1697177.html Ashley and Shearer to learn bankers' verdict Friday, 5 June 2009 Alan Shearer is expected to hear news on his future at Newcastle United today. Owner Mike Ashley has been in negotiations with banks to maintain and extend Newcastle's £40m working capital facility, which is required if Shearer is to be given a contract and money with which to begin to restructure the squad. A provisional agreement is in place on the blueprint Shearer presented last week, but as of late yesterday there was still no indication of the response from the banks. As soon as Ashley put this in the hands of the banks he was taking a sideways step from handing Shearer the job. It's a kop out of the highest order and I think we need to start looking at alternative choice managers, though for the life I me I don't know where to start. Joe Kinnear probably. Ashley and Llambias are deluding themselves if they think any other half-decent manager won't say exactly the same as Shearer regarding what's needed to rebuild. Then again, someone like Kinnear will probably say nothing of the sort. What makes you think Ashley wants to rebuild? Administration looks more likely to me. I still don't see the point of that. How does administration help Ashley? I think he means the likely way this is heading. Ashley doesn't want to rebuild he wants out, but nothing is happening and were more likely to head in to Admin than find a buyer under Ashley due to Ashley's incompetence. That still doesn't make sense though. We only owe money to Ashley, so administration would be pointless, surely? Link to post Share on other sites More sharing options...
Shearergol Posted June 5, 2009 Share Posted June 5, 2009 Dare i ask? Where's NE5 in all this? Is he keeping a low profile and hoping his hero returns? He's preparing the business plan to allow that return. As if NE5 and Freddie are two different people Link to post Share on other sites More sharing options...
Guest Stephen927 Posted June 5, 2009 Share Posted June 5, 2009 Dare i ask? Where's NE5 in all this? Is he keeping a low profile and hoping his hero returns? Banned a few weeks ago. Link to post Share on other sites More sharing options...
Benwell Lad Posted June 5, 2009 Share Posted June 5, 2009 Dare i ask? Where's NE5 in all this? Is he keeping a low profile and hoping his hero returns? Banned a few weeks ago. But isn't he also Howaythelads who posted on the previous page ? I bet they've never been seen in the same room together. Link to post Share on other sites More sharing options...
Nexumaster Posted June 5, 2009 Share Posted June 5, 2009 Every day that this drags on makes me less and less optimistic about getting promoted. Other clubs are getting managers and players in. We need a lot of things sorting and the more we sit about the worse off we'll be compared to other more stable clubs. Anyone else thinking about the demise of Leeds, Charlton and Southampton? Link to post Share on other sites More sharing options...
Tooj Posted June 5, 2009 Share Posted June 5, 2009 Dare i ask? Where's NE5 in all this? Is he keeping a low profile and hoping his hero returns? Banned a few weeks ago. But isn't he also Howaythelads who posted on the previous page ? I bet they've never been seen in the same room together. No he is not. Link to post Share on other sites More sharing options...
NG32 Posted June 5, 2009 Share Posted June 5, 2009 Every day that this drags on makes me less and less optimistic about getting promoted. Other clubs are getting managers and players in. We need a lot of things sorting and the more we sit about the worse off we'll be compared to other more stable clubs. Anyone else thinking about the demise of Leeds, Charlton and Southampton? We've been though all this before, still it never gets any better. Link to post Share on other sites More sharing options...
Mistle17 Posted June 5, 2009 Share Posted June 5, 2009 Shearer is now on holiday in Portugal. Draw your own conclusions on that... I think its just a matter of time until they come out and say that we're screwed- because that's what we are....screwed. Once again our owners have found a way to fuck this club up even more! No words will fully justify my hatred for Ashley and Llambias, in my mind. 'Scum' would be going easy on them! Link to post Share on other sites More sharing options...
Pilko Posted June 5, 2009 Share Posted June 5, 2009 This isn't making me angry or anything, just making me rather irritated. Link to post Share on other sites More sharing options...
Guest firetotheworks Posted June 5, 2009 Share Posted June 5, 2009 Has no one learned just to ignore everything until it happens yet? Nothing will ever be on time or what we want while Ashley's in charge. Link to post Share on other sites More sharing options...
dustynrg Posted June 5, 2009 Share Posted June 5, 2009 Shearer is now on holiday in Portugal. Draw your own conclusions on that... I think its just a matter of time until they come out and say that we're screwed- because that's what we are....screwed. Once again our owners have found a way to f*** this club up even more! No words will fully justify my hatred for Ashley and Llambias, in my mind. 'Scum' would be going easy on them! Well you could say he's taking a break now because of all the work he's about to do over the next few weeks, and if he doesn't get a break now he'll be without any holiday. I read somewhere he's back on Monday anyway. The problem is no-one knows apart from the people working at Barclays who are doing the number crunching. I take it if they give Shearer's plan the he will be Manager, if they say it will be disaster for us all. I just don't know why they are taking such a feckin long time like. Surely it doesn't take two weeks to look at the figures and say yay or nay. Link to post Share on other sites More sharing options...
Dokko Posted June 5, 2009 Share Posted June 5, 2009 Holiday? Just like fuking Kevin 'I've done sweet fuk all yet need to go away and sun up' Keegan leaving the club to disappear when there's work to be done. Worked well for us that time. Link to post Share on other sites More sharing options...
Tooj Posted June 5, 2009 Share Posted June 5, 2009 Holiday? Just like fuking Kevin 'I've done sweet fuk all yet need to go away and sun up' Keegan leaving the club to disappear when there's work to be done. Worked well for us that time. Well he never had to remember as he had a recruit team doing all of that. Link to post Share on other sites More sharing options...
Teasy Posted June 5, 2009 Share Posted June 5, 2009 Holiday? Just like fuking Kevin 'I've done sweet fuk all yet need to go away and sun up' Keegan leaving the club to disappear when there's work to be done. Worked well for us that time. What work can he do like? Link to post Share on other sites More sharing options...
indi Posted June 5, 2009 Share Posted June 5, 2009 For the bazillionth time: WE ARE NOT GOING TO GO INTO ADMINISTRATION!! A company goes into administration to protect itself from it's creditors (the people it owes money to), we only have one major creditor, his name is Mike Ashley. Why would Mike Ashley put the club into administration to protect the club from Mike Ashley? For those who still don't get it, the answer is "He wouldn't." Therefore NUFC is not going to go into administration. Does everyone understand now? Link to post Share on other sites More sharing options...
thomas Posted June 5, 2009 Share Posted June 5, 2009 would mike ashley call in his debt to himself just to fuck over the fans? I think so. The man has clearly lost it. Link to post Share on other sites More sharing options...
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