Crumpy Gunt Posted June 4, 2009 Share Posted June 4, 2009 Ashley likely wont lose much if he does sell for £100m. He's likely selling the entire footballing side of the business for that price but didn't he also buy a lot of development land also? The Metro Station Car Park at SJP. The old Brewery land that was going to be developed into a 15 story hotel. Maybe he's thinking he'll clean up with either developing or selling at a later date this land. Just a thought. Link to post Share on other sites More sharing options...
NG32 Posted June 4, 2009 Share Posted June 4, 2009 Ashley likely wont lose much if he does sell for £100m. He's likely selling the entire footballing side of the business for that price but didn't he also buy a lot of development land also? The Metro Station Car Park at SJP. The old Brewery land that was going to be developed into a 15 story hotel. Maybe he's thinking he'll clean up with either developing or selling at a later date this land. Just a thought. Did he? Didn't know he got all that as well. Link to post Share on other sites More sharing options...
Dave Posted June 4, 2009 Share Posted June 4, 2009 Farrington says in today's Chronicle that Harris is back from Dubai and speaking to some potential buyers from the UK today. Link to post Share on other sites More sharing options...
Crumpy Gunt Posted June 4, 2009 Share Posted June 4, 2009 Ashley likely wont lose much if he does sell for £100m. He's likely selling the entire footballing side of the business for that price but didn't he also buy a lot of development land also? The Metro Station Car Park at SJP. The old Brewery land that was going to be developed into a 15 story hotel. Maybe he's thinking he'll clean up with either developing or selling at a later date this land. Just a thought. Did he? Didn't know he got all that as well. I'm sure I read somewhere he bought the lot from Hall/Shepherd. Might not have been entirely true mind. I'm sure someone will confirm or deny. It's the only thinking behind the £100m pricetag and a £140m potential loss. Link to post Share on other sites More sharing options...
NG32 Posted June 4, 2009 Share Posted June 4, 2009 Farrington says in today's Chronicle that Harris is back from Dubai and speaking to some potential buyers from the UK today. Del boy and Rodney? Link to post Share on other sites More sharing options...
AfroP Posted June 4, 2009 Share Posted June 4, 2009 managers, tactics, youth players, hidden gems scouted from lower levels or the cheap signing from a foreign league who is hungry. so what your saying is that we are up the creek without a paddle? we have no manager, an owner that seems so desperate to get rid of us i'm surprised we are'nt yet on ebay. an unmanageable wage budget for a bunch of useless, gutless mercenaries and a scouting network that gave us, coloccini, Xisco and Gonzales Link to post Share on other sites More sharing options...
Dave Posted June 4, 2009 Share Posted June 4, 2009 Is he really that desperate to sell up though or is this just the same as last time; claim you're flouncing off to keep the fans off your back then actually do fuck all about it, probably by asking far too much for the club. Would anyone be that surprised if in a month's time Ashley says he can't sell and that he's staying? Link to post Share on other sites More sharing options...
AfroP Posted June 4, 2009 Share Posted June 4, 2009 Would anyone be that surprised if in a month's time Ashley says he can't sell and that he's staying? i would'nt be surprised and then he appoints Peter Reid as our new manager Link to post Share on other sites More sharing options...
NG32 Posted June 4, 2009 Share Posted June 4, 2009 Is he really that desperate to sell up though or is this just the same as last time; claim you're flouncing off to keep the fans off your back then actually do f*** all about it, probably by asking far too much for the club. Would anyone be that surprised if in a month's time Ashley says he can't sell and that he's staying? No i'm fully expecting it now. Like i've said before we seem to be following a similar path. Link to post Share on other sites More sharing options...
Skirge Posted June 4, 2009 Share Posted June 4, 2009 Shepherd blasts Sir John for selling to Ashley Jun 4 2009 by Neil Farrington, Evening Chronicle FREDDY SHEPHERD has hit back at Sir John Hall over his former Newcastle boardroom ally's defence of Mike Ashley. In the wake of United’s shock relegation, Shepherd accused his fellow former United chairman of not checking Ashley’s credentials before selling his stake in the club to the sportswear tycoon. Hall rallied round beleaguered Newcastle owner Ashley earlier this week, insisting he had bought the club “for the right reasons” and not “as a toy”. But Shepherd, who reluctantly sold his stake in United to Ashley only after the Hall family had triggered the then billionaire’s takeover by selling him their own, larger shareholding, is far less forgiving. The then United chairman was in hospital with pneumonia and a collapsed lung when Ashley bought the Halls’ 41.6% Magpies’ stake for £55.3m. Had he not been seriously ill, Shepherd has always maintained he would have fought Ashley’s bid to buy the club outright. Instead, he also sold up, leaving Ashley to tie up a full takeover in June 2007. Ashley has since expressed regret that he failed to do due diligence – the process of thoroughly checking Newcastle’s finances – before buying the club. . However, Shepherd – having already made clear his disgust with Newcastle’s now pitiful plight – has turned that argument around . . . and aimed it at Ashley apologist Hall. “I was interested to read what Sir John Hall said about Mike Ashley,” said Shepherd, who is concerned enough with the disastrous turn of events at St James’s Park to consider buying back into the club. “It’s often been said that Ashley should have done due diligence on the club before buying it. “But after all that has happened, the question I would ask is why did Sir John Hall not do due diligence on Mike Ashley?” Meanwhile, Keith Harris – the man charged by Ashley with finding a buyer for Newcastle – has flown back from Dubai, where he was wooing potential investors. It remains to be seen whether interest in Newcastle in Dubai or neighbouring Oman materialises into a firm bid for the club, although I understand Harris is meeting with other potential buyers in the UK today. And the uncertainty also extends to Alan Shearer’s situation, with the question of whether he will be appointed as Newcastle’s full-time manager still unanswered. http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/06/04/freddy-hits-out-at-hall-72703-23787646/ Link to post Share on other sites More sharing options...
NG32 Posted June 4, 2009 Share Posted June 4, 2009 wooing potential investors. Obviously been doing belly dancing. Link to post Share on other sites More sharing options...
Yorkie Posted June 4, 2009 Share Posted June 4, 2009 Is he really that desperate to sell up though or is this just the same as last time; claim you're flouncing off to keep the fans off your back then actually do fuck all about it, probably by asking far too much for the club. Would anyone be that surprised if in a month's time Ashley says he can't sell and that he's staying? Bare in mind i know very little about the financial situation... but i thought Ashley was willing to accept a loss? Like, lose out on £110m or something? Link to post Share on other sites More sharing options...
Dave Posted June 4, 2009 Share Posted June 4, 2009 That's only what the media have assumed. Link to post Share on other sites More sharing options...
Decky Posted June 4, 2009 Share Posted June 4, 2009 I wish we would start buying and selling, this fucking tripe is Ashley kicking us when we are down then fucking off when we are even worse. Link to post Share on other sites More sharing options...
Wallace Posted June 4, 2009 Share Posted June 4, 2009 Ashley likely wont lose much if he does sell for £100m. He's likely selling the entire footballing side of the business for that price but didn't he also buy a lot of development land also? The Metro Station Car Park at SJP. The old Brewery land that was going to be developed into a 15 story hotel. Maybe he's thinking he'll clean up with either developing or selling at a later date this land. Just a thought. Did he? Didn't know he got all that as well. I'm sure I read somewhere he bought the lot from Hall/Shepherd. Might not have been entirely true mind. I'm sure someone will confirm or deny. It's the only thinking behind the £100m pricetag and a £140m potential loss. I was talking about this to my brother last night as I too thought there was a lot of land and property that belonged to NUFC and that maybe this is not part of the sale and therefore writing off £100m in loans might not be as a philanthropic act as first seemed. Link to post Share on other sites More sharing options...
Teasy Posted June 4, 2009 Share Posted June 4, 2009 Is he really that desperate to sell up though or is this just the same as last time; claim you're flouncing off to keep the fans off your back then actually do fuck all about it, probably by asking far too much for the club. Would anyone be that surprised if in a month's time Ashley says he can't sell and that he's staying? That strategy might have made sense to a degree back then, but not now. There's no protests or calls for him to leave this time around, just fans waiting for a management position to be settled and resigned to supporting the club in the Championship. What would he look to gain from pretending he wants to sell? It won't apease anyone, as far as I can see he'd only achieve a massive reduction in season ticket sales for no advantage what so ever. Unless he's putting the club up for sale only as an attempt to stall on the appointment of a new manager? Seems quite a drastic way to do it, but he is an idiot. Still I just think he wants out. Link to post Share on other sites More sharing options...
dustynrg Posted June 4, 2009 Share Posted June 4, 2009 Ashley likely wont lose much if he does sell for £100m. He's likely selling the entire footballing side of the business for that price but didn't he also buy a lot of development land also? The Metro Station Car Park at SJP. The old Brewery land that was going to be developed into a 15 story hotel. Maybe he's thinking he'll clean up with either developing or selling at a later date this land. Just a thought. Did he? Didn't know he got all that as well. I'm sure I read somewhere he bought the lot from Hall/Shepherd. Might not have been entirely true mind. I'm sure someone will confirm or deny. It's the only thinking behind the £100m pricetag and a £140m potential loss. I was talking about this to my brother last night as I too thought there was a lot of land and property that belonged to NUFC and that maybe this is not part of the sale and therefore writing off £100m in loans might not be as a philanthropic act as first seemed. I'm pretty sure there's no land etc involved, there would have been far more talk if there had've been - he just wants out after hearing how he's going to lose megabucks in the Championship. Link to post Share on other sites More sharing options...
Guest guyb Posted June 4, 2009 Share Posted June 4, 2009 Don't know if any of you saw this in The Guardian by David Conn --------------------------------------------------------------------------------- Newcastle United Accounts for the year to 30 June 2008 Ownership Mike Ashley via his company, St James Holdings Limited Turnover £100.8m (up from £87m the previous year, a 16% increase) Gate and match-day £32.3m TV and broadcasting £41.1m Commercial activities £27.4m Wage bill £74.6m (up from £56.7m the previous year, a 31.6% increase) Wages as proportion of turnover 74% Loss before tax £34m Debts £106.2m (£100m is owed to Mike Ashley) Interest payable £6.6m Highest paid director Chris Mort, paid £1.357m via his law firm, Freshfields Bruckhaus Deringer State it's in A calamity. Mike Ashley could have been a hero. After buying the club for £134m in 2007, he repaid, with cash, around £94m of debts. Newcastle are almost debt-free, although Ashley paid the money off by lending £100m to the club himself, interest free, which has to be repaid if the ownership changes. Yet after appointments and decisions he admits himself have been awful and which led to relegation, he has not been thanked very fulsomely for his contribution. If he does not sell quickly, Ashley will need to stump up more if financial collapse is to be avoided next season. http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt Link to post Share on other sites More sharing options...
ikri Posted June 4, 2009 Share Posted June 4, 2009 Don't know if any of you saw this in The Guardian by David Conn --------------------------------------------------------------------------------- Newcastle United Accounts for the year to 30 June 2008 Ownership Mike Ashley via his company, St James Holdings Limited Turnover £100.8m (up from £87m the previous year, a 16% increase) Gate and match-day £32.3m TV and broadcasting £41.1m Commercial activities £27.4m Wage bill £74.6m (up from £56.7m the previous year, a 31.6% increase) Wages as proportion of turnover 74% Loss before tax £34m Debts £106.2m (£100m is owed to Mike Ashley) Interest payable £6.6m Highest paid director Chris Mort, paid £1.357m via his law firm, Freshfields Bruckhaus Deringer State it's in A calamity. Mike Ashley could have been a hero. After buying the club for £134m in 2007, he repaid, with cash, around £94m of debts. Newcastle are almost debt-free, although Ashley paid the money off by lending £100m to the club himself, interest free, which has to be repaid if the ownership changes. Yet after appointments and decisions he admits himself have been awful and which led to relegation, he has not been thanked very fulsomely for his contribution. If he does not sell quickly, Ashley will need to stump up more if financial collapse is to be avoided next season. http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt So, just how did we end up with £6.6m in interest payments or have they simply fucked up the figures? Link to post Share on other sites More sharing options...
johnnypd Posted June 4, 2009 Share Posted June 4, 2009 because we paid the interest due to lenders and ashley paid off the debt sometime afterwards. those figures are for 2007/2008 which is why chris mort is listed. Link to post Share on other sites More sharing options...
Guest johnson293 Posted June 4, 2009 Share Posted June 4, 2009 Don't know if any of you saw this in The Guardian by David Conn --------------------------------------------------------------------------------- Newcastle United Accounts for the year to 30 June 2008 Ownership Mike Ashley via his company, St James Holdings Limited Turnover £100.8m (up from £87m the previous year, a 16% increase) Gate and match-day £32.3m TV and broadcasting £41.1m Commercial activities £27.4m Wage bill £74.6m (up from £56.7m the previous year, a 31.6% increase) Wages as proportion of turnover 74% Loss before tax £34m Debts £106.2m (£100m is owed to Mike Ashley) Interest payable £6.6m Highest paid director Chris Mort, paid £1.357m via his law firm, Freshfields Bruckhaus Deringer State it's in A calamity. Mike Ashley could have been a hero. After buying the club for £134m in 2007, he repaid, with cash, around £94m of debts. Newcastle are almost debt-free, although Ashley paid the money off by lending £100m to the club himself, interest free, which has to be repaid if the ownership changes. Yet after appointments and decisions he admits himself have been awful and which led to relegation, he has not been thanked very fulsomely for his contribution. If he does not sell quickly, Ashley will need to stump up more if financial collapse is to be avoided next season. http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt So despite recent reports, does that mean the purchase price will be approx. £100m for the club, and any new owner still has to pay the debt off as well? Or, is he really writing off that debt payment now? Link to post Share on other sites More sharing options...
Shearergol Posted June 4, 2009 Share Posted June 4, 2009 A 31.6% increase in wages? Surely that's not true. Link to post Share on other sites More sharing options...
quayside Posted June 4, 2009 Share Posted June 4, 2009 Don't know if any of you saw this in The Guardian by David Conn --------------------------------------------------------------------------------- Newcastle United Accounts for the year to 30 June 2008 Ownership Mike Ashley via his company, St James Holdings Limited Turnover £100.8m (up from £87m the previous year, a 16% increase) Gate and match-day £32.3m TV and broadcasting £41.1m Commercial activities £27.4m Wage bill £74.6m (up from £56.7m the previous year, a 31.6% increase) Wages as proportion of turnover 74% Loss before tax £34m Debts £106.2m (£100m is owed to Mike Ashley) Interest payable £6.6m Highest paid director Chris Mort, paid £1.357m via his law firm, Freshfields Bruckhaus Deringer State it's in A calamity. Mike Ashley could have been a hero. After buying the club for £134m in 2007, he repaid, with cash, around £94m of debts. Newcastle are almost debt-free, although Ashley paid the money off by lending £100m to the club himself, interest free, which has to be repaid if the ownership changes. Yet after appointments and decisions he admits himself have been awful and which led to relegation, he has not been thanked very fulsomely for his contribution. If he does not sell quickly, Ashley will need to stump up more if financial collapse is to be avoided next season. http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt So, just how did we end up with £6.6m in interest payments or have they simply f***ed up the figures? Believe it or not I think he got stuck with paying some interest on the loan he paid off as some sort of early settlement penalty. Link to post Share on other sites More sharing options...
quayside Posted June 4, 2009 Share Posted June 4, 2009 Don't know if any of you saw this in The Guardian by David Conn --------------------------------------------------------------------------------- Newcastle United Accounts for the year to 30 June 2008 Ownership Mike Ashley via his company, St James Holdings Limited Turnover £100.8m (up from £87m the previous year, a 16% increase) Gate and match-day £32.3m TV and broadcasting £41.1m Commercial activities £27.4m Wage bill £74.6m (up from £56.7m the previous year, a 31.6% increase) Wages as proportion of turnover 74% Loss before tax £34m Debts £106.2m (£100m is owed to Mike Ashley) Interest payable £6.6m Highest paid director Chris Mort, paid £1.357m via his law firm, Freshfields Bruckhaus Deringer State it's in A calamity. Mike Ashley could have been a hero. After buying the club for £134m in 2007, he repaid, with cash, around £94m of debts. Newcastle are almost debt-free, although Ashley paid the money off by lending £100m to the club himself, interest free, which has to be repaid if the ownership changes. Yet after appointments and decisions he admits himself have been awful and which led to relegation, he has not been thanked very fulsomely for his contribution. If he does not sell quickly, Ashley will need to stump up more if financial collapse is to be avoided next season. http://www.guardian.co.uk/football/2009/jun/03/english-premier-league-debt So despite recent reports, does that mean the purchase price will be approx. £100m for the club, and any new owner still has to pay the debt off as well? Or, is he really writing off that debt payment now? If he wants to waive the "repayment of debt" clause and write the debt off he can do so - entirely up to him. Link to post Share on other sites More sharing options...
quayside Posted June 4, 2009 Share Posted June 4, 2009 A 31.6% increase in wages? Surely that's not true. It sounds wrong - I haven't got the accounts here but it might be because St James Holdings came into existence in July 2007 so the comparative figure is only for 11 months and not a full year. Edit: The insurance money received on Owen's wages in 2007 and Allardyce's payoff in 2008 could be other distorting factors. I'll have a look tomorrow. Link to post Share on other sites More sharing options...
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