Dave Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. Link to post Share on other sites More sharing options...
Decky Posted July 16, 2009 Share Posted July 16, 2009 Another successful year for Mike http://news.bbc.co.uk/1/hi/business/8153274.stm If Mike's found in a garage with the engine running, what happens to the club? I bet he would change his will so it is left to Kinnear. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 More bad news for us - no way will he will write off any debts or loans owed to him - fat tosser Sports Direct profits plunge 91% But he still made a profit in these difficult times. A hell of a lot of companies are making a loss so any profit is pretty good. And he managed to open new stores and buy into more companies. Once theres a turn around his profits will go through the roof again. You're looking at about 18 months for a turnaround. He's asking way too much for the club and this is hampering any interested parties (if any are left). Which isn't a problem, I don't think he's planning on stopping SS now after all this time. And remember he made a profit in the worse time which as others have said is better than alot of other companies. Not talking about him stopping SD, I'm saying he isn't financially comfortable as he was 2 years ago and this will affect his thinking in all areas inc how he deals with us. Link to post Share on other sites More sharing options...
Guest Brazilianbob Posted July 16, 2009 Share Posted July 16, 2009 Call me paranoid if you will, but I do begin to wonder whether, if we were taken over by a mega rich oil arab, the worlds oil wells would suddenly dry up! Link to post Share on other sites More sharing options...
Dave Posted July 16, 2009 Share Posted July 16, 2009 He might want to cut and run quicker now those results are out. Alternatively he might hang on to squeeze as much as he can from us. Fuck knows. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. IMO MA has tagged on the monies owed to him with some kind of staggered timetable. This complicates things as a swift return to the PL isn't guaranteed. The worry is if we don't get back first time it starts to get twice as hard financially and competitively. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 He might want to cut and run quicker now those results are out. Alternatively he might hang on to squeeze as much as he can from us. Fuck knows. It's a weird thing with the player transfers if you ask me. It makes me wonder if he's paying the wages or if they are just coming direct from the overdraft (not at all good for us). Link to post Share on other sites More sharing options...
Dave Posted July 16, 2009 Share Posted July 16, 2009 Might be being covered by the Given (& Milner?) money for now. Link to post Share on other sites More sharing options...
madras Posted July 16, 2009 Share Posted July 16, 2009 He might want to cut and run quicker now those results are out. Alternatively he might hang on to squeeze as much as he can from us. f*** knows. i really don't think those results will phase him. i wonder what the figures would have been like on trading alone ? interesting to see that he's opened more shops while property/leases are cheaper and "other investments" ie buying when the market is low. seems like in his business he is planning ahead and is taking advantage of the market. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 Might be being covered by the Given (& Milner?) money for now. The way he works that would have gone into SJHoldings immediately with the wages coming from the overdraft...If that makes sense. He gets to keep the cash and the players are being paid from the bank which becomes club liabilities at some point in the future when he's long gone. I can't really back this up, but it is the kind of thing that is his MO. Not even sure what the legal implications are. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 He might want to cut and run quicker now those results are out. Alternatively he might hang on to squeeze as much as he can from us. f*** knows. i really don't think those results will phase him. i wonder what the figures would have been like on trading alone ? interesting to see that he's opened more shops while property/leases are cheaper and "other investments" ie buying when the market is low. seems like in his business he is planning ahead and is taking advantage of the market. Broadly agree. However he'll never ever get another share issue off the ground with the past performance of the first lot. It is highly unlikely he'll ever make another money hit again unless he sells the business. Link to post Share on other sites More sharing options...
stalker Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. IMO MA has tagged on the monies owed to him with some kind of staggered timetable. This complicates things as a swift return to the PL isn't guaranteed. The worry is if we don't get back first time it starts to get twice as hard financially and competitively. He might even have already sold the debt one, or used it as a security. If that's the case then administration may be more attractive to him. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. IMO MA has tagged on the monies owed to him with some kind of staggered timetable. This complicates things as a swift return to the PL isn't guaranteed. The worry is if we don't get back first time it starts to get twice as hard financially and competitively. He might even have already sold the debt one, or used it as a security. If that's the case then administration may be more attractive to him. How do you mean? Link to post Share on other sites More sharing options...
Teasy Posted July 16, 2009 Share Posted July 16, 2009 The wages will be paid from the overdraft, but that's nothing new or worrying. That's what its their for, to pay club running costs until revenue comes in to pay them, just the same as last season. Link to post Share on other sites More sharing options...
stalker Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. IMO MA has tagged on the monies owed to him with some kind of staggered timetable. This complicates things as a swift return to the PL isn't guaranteed. The worry is if we don't get back first time it starts to get twice as hard financially and competitively. He might even have already sold the debt one, or used it as a security. If that's the case then administration may be more attractive to him. How do you mean? If he paid off the debt, using a loan from himself, he would then be able to use that loan as an asset. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 The wages will be paid from the overdraft, but that's nothing new or worrying. That's what its their for, to pay club running costs until revenue comes in to pay them, just the same as last season. Not if transfer revenue is not released by SJH. It could be he is holding on till he gets all the revenue possible in and then letting go to the new owners who's welcome will be a nasty letter from Barclays. It's the only thing that makes sense to me. Why hang on if he has to keep finding from HIS OWN FUNDS the player wages?? Who knows? I'm just trying to understand his reticence at selling the club quickly and getting out of the forest fire that is surely coming. Link to post Share on other sites More sharing options...
LoveItIfWeBeatU Posted July 16, 2009 Share Posted July 16, 2009 It will never happen but it's a shame the fans can't set a deadline for the sale. Get the club sold by this weekend or nobody is going to buy tickets to watch NUFC this season. Surely that would put a fire under Ashley. Nobody would buy a club with no fans. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 Blatantly will be, but if not and someone walks it'll be interestIng to see if they come out and explain what happened. IMO MA has tagged on the monies owed to him with some kind of staggered timetable. This complicates things as a swift return to the PL isn't guaranteed. The worry is if we don't get back first time it starts to get twice as hard financially and competitively. He might even have already sold the debt one, or used it as a security. If that's the case then administration may be more attractive to him. How do you mean? If he paid off the debt, using a loan from himself, he would then be able to use that loan as an asset. Gotcha. I can't work him out. He seems financially at least sneaky and clearly a survivor yet so many of his other calls are clearly bollocks. Link to post Share on other sites More sharing options...
madras Posted July 16, 2009 Share Posted July 16, 2009 The wages will be paid from the overdraft, but that's nothing new or worrying. That's what its their for, to pay club running costs until revenue comes in to pay them, just the same as last season. Not if transfer revenue is not released by SJH. It could be he is holding on till he gets all the revenue possible in and then letting go to the new owners who's welcome will be a nasty letter from Barclays. It's the only thing that makes sense to me. Why hang on if he has to keep finding from HIS OWN FUNDS the player wages?? Who knows? I'm just trying to understand his reticence at selling the club quickly and getting out of the forest fire that is surely coming. if the overdraft is paying the wages then that will fall on new owners. his retcence will be that he thinks a better offer is coming or they are haggling over the details. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 It will never happen but it's a shame the fans can't set a deadline for the sale. Get the club sold by this weekend or nobody is going to buy tickets to watch NUFC this season. Surely that would put a fire under Ashley. Nobody would buy a club with no fans. Do you believe Lambarse that there have been two 100m bids? Link to post Share on other sites More sharing options...
LoveItIfWeBeatU Posted July 16, 2009 Share Posted July 16, 2009 It will never happen but it's a shame the fans can't set a deadline for the sale. Get the club sold by this weekend or nobody is going to buy tickets to watch NUFC this season. Surely that would put a fire under Ashley. Nobody would buy a club with no fans. Do you believe Lambarse that there have been two 100m bids? No. Ashley would have to sell the club for less than his ridiculous £100m (+ £100m loan?) asking price if the fans made it clear that they wouldn't be supporting the club (which to a certain extent they probably already have by not renewing their season tickets). Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 The wages will be paid from the overdraft, but that's nothing new or worrying. That's what its their for, to pay club running costs until revenue comes in to pay them, just the same as last season. Not if transfer revenue is not released by SJH. It could be he is holding on till he gets all the revenue possible in and then letting go to the new owners who's welcome will be a nasty letter from Barclays. It's the only thing that makes sense to me. Why hang on if he has to keep finding from HIS OWN FUNDS the player wages?? Who knows? I'm just trying to understand his reticence at selling the club quickly and getting out of the forest fire that is surely coming. if the overdraft is paying the wages then that will fall on new owners. his retcence will be that he thinks a better offer is coming or they are haggling over the details. I can't imagine a better offer than a 100m for a club with no assets and some kind of serious debt structure. Link to post Share on other sites More sharing options...
madras Posted July 16, 2009 Share Posted July 16, 2009 The wages will be paid from the overdraft, but that's nothing new or worrying. That's what its their for, to pay club running costs until revenue comes in to pay them, just the same as last season. Not if transfer revenue is not released by SJH. It could be he is holding on till he gets all the revenue possible in and then letting go to the new owners who's welcome will be a nasty letter from Barclays. It's the only thing that makes sense to me. Why hang on if he has to keep finding from HIS OWN FUNDS the player wages?? Who knows? I'm just trying to understand his reticence at selling the club quickly and getting out of the forest fire that is surely coming. if the overdraft is paying the wages then that will fall on new owners. his retcence will be that he thinks a better offer is coming or they are haggling over the details. I can't imagine a better offer than a 100m for a club with no assets and some kind of serious debt structure. neither can I. Link to post Share on other sites More sharing options...
Parky Posted July 16, 2009 Share Posted July 16, 2009 It will never happen but it's a shame the fans can't set a deadline for the sale. Get the club sold by this weekend or nobody is going to buy tickets to watch NUFC this season. Surely that would put a fire under Ashley. Nobody would buy a club with no fans. Do you believe Lambarse that there have been two 100m bids? No. Ashley would have to sell the club for less than his ridiculous £100m (+ £100m loan?) asking price if the fans made it clear that they wouldn't be supporting the club (which to a certain extent they probably already have by not renewing their season tickets). I don't know if there is any precedent for taking an owner to court. Link to post Share on other sites More sharing options...
ianovthetoon Posted July 16, 2009 Share Posted July 16, 2009 I still think the interested parties must be negotiating and be still interested. I'm pretty sure if their enthusiasm had waned at all, at least one would have blabbed to the press as to why they were no longer interested Link to post Share on other sites More sharing options...
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