Parky Posted June 18, 2009 Share Posted June 18, 2009 The Journal actually says that the four groups trying to buy us have proved they have the 100 million pound to buy the club, but if our finances are a mess then they dont have the funds to bankroll us. Yeah, as i understood it the groups were only given access to the data room once they'd proved they had the necessary funds. All 4 groups are studying the books so they must've met the financial criteria Yeah but if they don't have funds to push us on it'll be like buying an AT-AT but having no money left to buy storm troopers It may mean they have set aside a transfer budget already, but if our finances are in such a mess that all there money will be used on our debts, then they will pull out. Which is why Ashley should either lower his price or run the club properly and invest in the short term to win in the long run. But this has always been the case and the fat fool is more likely to keep counting the pennies and sink the club like a stone being the cretin that he is. He doesn't really have that much real money left. Of course he does, the guy still has about £500m in the bank plus the money he brings in from Sports Soccer. Close 81.50 Change -4.00 (-4.68%) Volume 769,295 Year high 122.00 Year low 31.00 Thats the share price, what's your point ? The launch price was 3.00GBP this is what he made the initial hit on about £900,000. That was 2 years ago. Of course it has lost 2/3 of its value and is a bad buy most days when I check or neutral. It is well known that when the price started diving in early 2008 he was 'buying back' at around £1.50 to support it. He took a loss of around 300,000 on the HSBC gamble. He's spent around (if you believe him) 250,000 on the club altogether. I would like evidence he's got 500,000 in the bank. Do you have it? Loss of share value doesn't equal loss of real money, its a paper loss until he sells the shares. Also you're making it sound as if he had £500m and then all those losses happened. When in fact all those losses are the reason he's down to that kind of money (£700m actually according to The Times). He was at £2 billion before all that happened. I've seen him about 1.2 billion (it was just the popular media iirc). My actual point is he can't really sell the shares as HIS buying is stopping it tanking like it did at 32p. I really don't think he's got that much liquidity. Could be wrong. "On Wednesday, as the world reeled from the collapse of US bank Lehman Brothers and insurer AIG, HBOS shares went into freefall amid fears about dodgy debts. Ashley lost £100million in just one hour as the shares plummeted to an all-time low of 88p. When trading closed for the day after the price rallied slightly, Ashley had lost £50million in a day, with the world economy in meltdown. He would have been required to wire cash to betting firm IG Index to cover the loss. The £50million hit took Ashley’s loss on his HBOS punt to the mind-boggling total of £380million." Link to post Share on other sites More sharing options...
ikri Posted June 18, 2009 Share Posted June 18, 2009 The Journal reckons some of the groups have had problems raising the backing and will walk away if the books are as terrible as most believe. Aye, I'd heard that they only just have the asking price and struggled to raise that. It think its the one fronted by Shep If that's true then they need to rethink their buyout. The club needs major surgery to rebuild a hugely unbalanced squad and that's going to require money, as is spending at least 1 season outside the Premiership. Without the additional TV revenue the club is going to be running at a pretty massive loss again this year unless they can renegotiate every contract at the club. Whoever buys the club is probably going to need to find about £50m this year to cover losses and fund transfers with the same amount being provided for squad strengthening whenever we return to the Premiership. We will be selling a lot of players though which will reduce the wage bill massively and bring in millions of pounds in transfer fees. Even if we only manage to remove £30m from the wage bill and bring in £25m from those player sales we'd be pretty much breaking even this season. Which means the only funds the new owner would need to come up with is transfer money, say £20m. The club can't guarantee that they'll be able to sell anyone. There's no way that we can force the high earners out of the club, they could easily pledge their undying love for the club and bleed us dry for the rest of their contracts. Whoever buys the club really needs to have sufficient funds available to cover the wages of everyone currently at the club, plus be able to fund new transfers. After that any sales should be viewed as a bonus. Link to post Share on other sites More sharing options...
Teasy Posted June 18, 2009 Share Posted June 18, 2009 The Journal reckons some of the groups have had problems raising the backing and will walk away if the books are as terrible as most believe. Aye, I'd heard that they only just have the asking price and struggled to raise that. It think its the one fronted by Shep If that's true then they need to rethink their buyout. The club needs major surgery to rebuild a hugely unbalanced squad and that's going to require money, as is spending at least 1 season outside the Premiership. Without the additional TV revenue the club is going to be running at a pretty massive loss again this year unless they can renegotiate every contract at the club. Whoever buys the club is probably going to need to find about £50m this year to cover losses and fund transfers with the same amount being provided for squad strengthening whenever we return to the Premiership. We will be selling a lot of players though which will reduce the wage bill massively and bring in millions of pounds in transfer fees. Even if we only manage to remove £30m from the wage bill and bring in £25m from those player sales we'd be pretty much breaking even this season. Which means the only funds the new owner would need to come up with is transfer money, say £20m. The club can't guarantee that they'll be able to sell anyone. There's no way that we can force the high earners out of the club, they could easily pledge their undying love for the club and bleed us dry for the rest of their contracts. Whoever buys the club really needs to have sufficient funds available to cover the wages of everyone currently at the club, plus be able to fund new transfers. After that any sales should be viewed as a bonus. £15m worth of wages is cut out automatically next month when the contracts of Owen, Viduka, Cacapa, Lovenkrands and Gonzales run out. The list of players we've put up for sale as a priority (which doesn't include the players who have asked to stay like Smith, Duff, Beye ect) contains £23m worth of wages and most of them will definitely go, they want to leave and we want to sell.. Also while this isn't guarenteed obviously I think we will end up selling the likes of Smith and Duff despite what they say once a new manager is appointed. Link to post Share on other sites More sharing options...
Skirge Posted June 18, 2009 Share Posted June 18, 2009 Ashley may have to pay £10m in player bonuses Jun 18 2009 by Lee Ryder, Evening Chronicle BEWILDERED Newcastle United owner Mike Ashley will have to stump up around £10m in players’ bonuses – if he is still in control of the Magpies on June 30. Ashley’s cash is hardly burning a hole in his pocket at the moment – a fact underlined by his reluctance to appoint Alan Shearer at St James’s Park, with the club’s uncertain future cited as the reason by managing director Derek Llambias. http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/06/18/ashley-may-have-to-pay-10m-in-player-bonuses-72703-23910630/ Link to post Share on other sites More sharing options...
Dr Venkman Posted June 18, 2009 Share Posted June 18, 2009 haha, bewildered. that about sums it up Link to post Share on other sites More sharing options...
ikri Posted June 18, 2009 Share Posted June 18, 2009 Also while this isn't guarenteed obviously I think we will end up selling the likes of Smith and Duff despite what they say once a new manager is appointed. I really hope that you're right. Players like Duff and Smith are the reason that we're in this position. Overpaid, under performing, unmotivated garbage. They might run around a lot when they have to, they might dive into tackles but they have contributed almost nothing in the last couple of years, there were games last season where we'd have probably done better if we'd simply dropped the entire midfield and played 5-5 with the defence hoofing the ball up field. I feel that we'll probably end up being stuck with Barton though, he's a risk for any club to take on and he's on massive wages here, I can't see him taking a wage cut to join another team even if they're in a higher league. Link to post Share on other sites More sharing options...
ToonTastic Posted June 18, 2009 Share Posted June 18, 2009 haha, bewildered. that about sums it up Bonus for what !!!! That about sums it up. Link to post Share on other sites More sharing options...
Teasy Posted June 18, 2009 Share Posted June 18, 2009 Parky, yeah I know he lost that money on HBOS, it was already mentioned in your earlier post and I read all about it at the time, the last article I saw had him losing £300m (he gained back that £80m mentioned in your quote). Though I've no idea what his final losses were. According to the Sunday Times Rich List he was worth around £2 billion in 2007 after making £929m cash from the floatation of Sports Direct (so he's had well over £1b cash at one point). That's his money by the way and wouldn't be effected by the subsequent loss in share price of Sports Direct. He also kept a £1 billion stake in the company. By 2008 his wealth had gone down to £1.4 billion but only due to the loss in value of Sports Direct shares (his original £1 billion stake lost more then half its value). Now after the credit crunch dropping shares further as well as losing about £500m of his own money from the HBOS gamble and Newcastle he's down to £700m. A substantial amount of that will still be cash/liquid assets. Link to post Share on other sites More sharing options...
Parky Posted June 18, 2009 Share Posted June 18, 2009 Parky, I know he lost that money on HBOS, it was already mentioned in your earlier post and I read all about it at the time anyway, the last article I saw had him losing £300m (he gained back that £80m mentioned in your quote). Though I've no idea what his final losses were. According to the Sunday Times Rich List he was worth around £2 billion in 2007 after making £929m cash from the floatation of Sports Direct. That's his money by the way and wouldn't be effected by the subsequent loss in share price of Sports Direct. He also kept a £1 billion stake in the company. By 2008 his wealth had gone down to £1.4 billion due to the loss in value of Sports Direct shares (his original £1 billion stake lost more then half its value). Now after the credit crunch dropping shares further as well as losing about £500m of his own money from the HBOS gamble and Newcastle he's down to £700m. A substantial amount of that will still be cash/liquid assets. He wants out anyway so this debate is redundant. Link to post Share on other sites More sharing options...
Guest firetotheworks Posted June 18, 2009 Share Posted June 18, 2009 Bonus for fucking what!? Getting us relegated? Link to post Share on other sites More sharing options...
Willow Posted June 18, 2009 Share Posted June 18, 2009 .com Numerous media reports on Thursday claimed that up to four separate parties have satisfied the financial demands in order to be able to see the club's books - and there's also talk that one formal bid has now been received. The size of the bid and identity of that bidder are tbc. get on with it! Link to post Share on other sites More sharing options...
Teasy Posted June 18, 2009 Share Posted June 18, 2009 Parky, I know he lost that money on HBOS, it was already mentioned in your earlier post and I read all about it at the time anyway, the last article I saw had him losing £300m (he gained back that £80m mentioned in your quote). Though I've no idea what his final losses were. According to the Sunday Times Rich List he was worth around £2 billion in 2007 after making £929m cash from the floatation of Sports Direct. That's his money by the way and wouldn't be effected by the subsequent loss in share price of Sports Direct. He also kept a £1 billion stake in the company. By 2008 his wealth had gone down to £1.4 billion due to the loss in value of Sports Direct shares (his original £1 billion stake lost more then half its value). Now after the credit crunch dropping shares further as well as losing about £500m of his own money from the HBOS gamble and Newcastle he's down to £700m. A substantial amount of that will still be cash/liquid assets. He wants out anyway so this debate is redundant. Yeah I agree, just wish it would stop getting brought up £10m bonus, nah don't believe that one. Any bonuses would be on a sliding scale depending on how well the team performs in various competitions. What will they get the bonus for? League placing?, going far in the cups? Link to post Share on other sites More sharing options...
LoveItIfWeBeatU Posted June 18, 2009 Share Posted June 18, 2009 Bonus for fucking what!? Getting us relegated? I'd love a job where failure was actually rewarded. Football Manager, Football Player and Board member of multinational corporation is the only jobs I know that do this. Link to post Share on other sites More sharing options...
Guest michaelfoster Posted June 18, 2009 Share Posted June 18, 2009 Forbes rich list value Mike Ashley at $1.1b on 11/3/09 which works out at £675.9m on todays exchange rates. He has therefore made a loss of £1.2b Link to post Share on other sites More sharing options...
ToonTastic Posted June 18, 2009 Share Posted June 18, 2009 Forbes rich list value Mike Ashley at $1.1b on 11/3/09 which works out at £675.9m on todays exchange rates. He has therefore made a loss of £1.2b And therefore has more than the £500m I said Link to post Share on other sites More sharing options...
Parky Posted June 18, 2009 Share Posted June 18, 2009 Forbes rich list value Mike Ashley at $1.1b on 11/3/09 which works out at £675.9m on todays exchange rates. He has therefore made a loss of £1.2b And therefore has more than the £500m I said Not in pure cash you guppy. Link to post Share on other sites More sharing options...
BONTEMPI Posted June 18, 2009 Share Posted June 18, 2009 http://www.nufcblog.com/2009/06/18/is-microsoft-co-founder-bidding-for-newcastle/ You've got to ask how and why? Link to post Share on other sites More sharing options...
ikri Posted June 18, 2009 Share Posted June 18, 2009 http://www.nufcblog.com/2009/06/18/is-microsoft-co-founder-bidding-for-newcastle/ You've got to ask how and why? To attract visitors (and advertising revenue) to nufcblog I'd guess. Unless you meant why is a Microsoft co-founder interested in the club? Link to post Share on other sites More sharing options...
QBG Posted June 18, 2009 Share Posted June 18, 2009 http://www.nufcblog.com/2009/06/18/is-microsoft-co-founder-bidding-for-newcastle/ You've got to ask how and why? Link to post Share on other sites More sharing options...
BONTEMPI Posted June 18, 2009 Share Posted June 18, 2009 http://www.nufcblog.com/2009/06/18/is-microsoft-co-founder-bidding-for-newcastle/ You've got to ask how and why? To attract visitors (and advertising revenue) to nufcblog I'd guess. Unless you meant why is a Microsoft co-founder interested in the club? Nagger please! Link to post Share on other sites More sharing options...
Dave Posted June 18, 2009 Share Posted June 18, 2009 nufcblog again. What a numbskull that bloke is. Link to post Share on other sites More sharing options...
ikri Posted June 18, 2009 Share Posted June 18, 2009 http://www.nufcblog.com/2009/06/18/is-microsoft-co-founder-bidding-for-newcastle/ You've got to ask how and why? To attract visitors (and advertising revenue) to nufcblog I'd guess. Unless you meant why is a Microsoft co-founder interested in the club? Nagger please! There seems to be an American bidder in for Newcastle United and there is of course quite a bit of speculation on who that could be. We have no idea They've simply picked his name out of thin air based on his wealth and his ownership of 3 sporting franchises in the US. Link to post Share on other sites More sharing options...
Guest Mucky01 Posted June 18, 2009 Share Posted June 18, 2009 I could even see Ashley selling to a lower bidder if it meant that a true saviour was kept from us. Link to post Share on other sites More sharing options...
Skirge Posted June 18, 2009 Share Posted June 18, 2009 I could even see Ashley selling to a lower bidder if it meant that a true saviour was kept from us. Mr Ryder is that you? get back to your blog. Link to post Share on other sites More sharing options...
Parky Posted June 18, 2009 Share Posted June 18, 2009 nufcblog again. What a numbskull that bloke is. You never know with this club though. Link to post Share on other sites More sharing options...
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