Dave Posted July 16, 2009 Share Posted July 16, 2009 Our new owner: http://i31.tinypic.com/2larf40.jpg Link to post Share on other sites More sharing options...
Guest Alan Shearer 9 Posted July 16, 2009 Share Posted July 16, 2009 thought you said you'd got rid of your dog skirge? Link to post Share on other sites More sharing options...
Skirge Posted July 16, 2009 Share Posted July 16, 2009 thought you said you'd got rid of your dog skirge? no he escaped death, he convinced me the relegation was not his fault. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted July 16, 2009 Share Posted July 16, 2009 Our new owner: http://i31.tinypic.com/2larf40.jpg Peter Kay? Link to post Share on other sites More sharing options...
Skirge Posted July 16, 2009 Share Posted July 16, 2009 Mike Ashley axes Sports Direct dividend to pay down £431m debts http://www.thisislondon.co.uk/standard-business/article-23720169-details/Mike+Ashley+axes+Sports+Direct+dividend+to+pay+down+431m+debts/article.do Link to post Share on other sites More sharing options...
Guest Brummiemag Posted July 16, 2009 Share Posted July 16, 2009 Don't know if I'm the only one thinking this, but the longer this drags on without the club being sold, the more I fear the possibility that Ashley will put us into administration. The club owes him £100 million in the form of a loan, for which there is no evidence that he intends to write off and I understand theres also an overdraft of 30 million and counting. The value of the club must be falling and the level of debt rising with each passing week and yet still he doesnt sell. Each month without a sale presumably means another 5 or 6 million paid out on player wages alone. Is Ashley paying this or is it added to the overdraft? We have I think 12 players tied into contracts of £50,000 or more, most of whom we will only get rid of if we continue to pay a percentage of their wages. If the club goes into administration could that be a way of making these expensive player contracts null and void, (in other words we are no longer legally bound to pay them)? At what point will it be in Ashleys interests to put the club into administration? Can someone who knows a lot more about finances than I do please reassure me and tell me my fears are completely unfounded? Link to post Share on other sites More sharing options...
Guest dazzanufc1892 Posted July 16, 2009 Share Posted July 16, 2009 if he did that, id fear for his safety as some lunatics out there wudnt accept it Link to post Share on other sites More sharing options...
James Posted July 16, 2009 Share Posted July 16, 2009 Don't know if I'm the only one thinking this, but the longer this drags on without the club being sold, the more I fear the possibility that Ashley will put us into administration. The club owes him £100 million in the form of a loan, for which there is no evidence that he intends to write off and I understand theres also an overdraft of 30 million and counting. The value of the club must be falling and the level of debt rising with each passing week and yet still he doesnt sell. Each month without a sale presumably means another 5 or 6 million paid out on player wages alone. Is Ashley paying this or is it added to the overdraft? We have I think 12 players tied into contracts of £50,000 or more, most of whom we will only get rid of if we continue to pay a percentage of their wages. If the club goes into administration could that be a way of making these expensive player contracts null and void, (in other words we are no longer legally bound to pay them)? At what point will it be in Ashleys interests to put the club into administration? Can someone who knows a lot more about finances than I do please reassure me and tell me my fears are completely unfounded? Ashley doesn't need to put the club into administration, administrators will be filling others pokets instead of his own and forcing him to accept a low bid. If he wants to get money back, he is better off just stripping the club himself and pocketing what he gets. Link to post Share on other sites More sharing options...
Big Geordie Posted July 16, 2009 Share Posted July 16, 2009 Administration is a very real worry for me, if the club is not sold. People should take our sale as being a forgone conclusion, regardless of what crap Llambiarse or Harris spouts when it suits. Link to post Share on other sites More sharing options...
Guest ObiChrisKenobi Posted July 16, 2009 Share Posted July 16, 2009 Echo all the worries about Administration, and if I'm honest I think its going to happen. If any prospective buyer has done their homework and looked at the books, chances are they'll have seen the club is bleeding money. If they have, would it be too outrageous to believe that they'll be holding out their bids or under bidding Ashley as they believe they'll be able to buy the club for 'next to nothing' when it goes into Administration? I'd hate to think that's the likely scenario, but business is business. If you knew something was going to be in the sale next week at half the price, would you buy it for full price this week? Link to post Share on other sites More sharing options...
Teasy Posted July 16, 2009 Share Posted July 16, 2009 Don't know if I'm the only one thinking this, but the longer this drags on without the club being sold, the more I fear the possibility that Ashley will put us into administration. The club owes him £100 million in the form of a loan, for which there is no evidence that he intends to write off and I understand theres also an overdraft of 30 million and counting. The value of the club must be falling and the level of debt rising with each passing week and yet still he doesnt sell. Each month without a sale presumably means another 5 or 6 million paid out on player wages alone. Is Ashley paying this or is it added to the overdraft? We have I think 12 players tied into contracts of £50,000 or more, most of whom we will only get rid of if we continue to pay a percentage of their wages. If the club goes into administration could that be a way of making these expensive player contracts null and void, (in other words we are no longer legally bound to pay them)? At what point will it be in Ashleys interests to put the club into administration? Can someone who knows a lot more about finances than I do please reassure me and tell me my fears are completely unfounded? Its unfounded, not going to go into it again but you can just read the later pages of the "administration" thread. By the way we don't know what the overdraft is actually at. Its a 35 million pound overdraft facility, but that doesn't mean that its anywhere near fully utilised. In fact it shouldn't be anywhere near full as most, if not all of it, should be from last season and so should be paid off by last seasons Premier League revenue (I think last year it was paid down to 5 million by the time the end of year accounts came out). Wages will be paid by that overdraft yes (that's how it always works) and wages will be at about 4.5 million pounds per month (was at nearly 6 million per month before we let go of Owen and co). That doesn't mean however that we're going 4.5 million into debt every month as money will still come in to pay part of these wages, though certainly nowhere near enough to pay a full year of those kind of wages. Link to post Share on other sites More sharing options...
Guest Wally_McFool Posted July 16, 2009 Share Posted July 16, 2009 Louise says the takeover could still be a month away! (yawns) http://www.guardian.co.uk/football/2009/jul/16/alan-smith-blackburn-rovers-transfer-window Link to post Share on other sites More sharing options...
EthiGeordie Posted July 16, 2009 Share Posted July 16, 2009 Louise Taylor source is in a Mackems bar having a tequila. I hate her mackem Bi**H Link to post Share on other sites More sharing options...
ChezGiven Posted July 16, 2009 Share Posted July 16, 2009 Louise T was ITK all last year, her credibility as a source isnt bad. Still happily kick her in the cunt though. Link to post Share on other sites More sharing options...
Ronaldo Posted July 16, 2009 Share Posted July 16, 2009 It was Louise's access to keegan which allowed her ITK status, she doesn't have owt like that this year, presumebly Link to post Share on other sites More sharing options...
Guest kirkpatrick9 Posted July 16, 2009 Share Posted July 16, 2009 Louise says the takeover could still be a month away! (yawns) http://www.guardian.co.uk/football/2009/jul/16/alan-smith-blackburn-rovers-transfer-window Completely unreliable, she has cried wolf with Newcastle many times over the last 6 year. Link to post Share on other sites More sharing options...
magorific Posted July 16, 2009 Share Posted July 16, 2009 It was Louise's access to keegan which allowed her ITK status, she doesn't have owt like that this year, presumebly What access was that? Conjures up a terrible image....... Link to post Share on other sites More sharing options...
Guest dover Posted July 16, 2009 Share Posted July 16, 2009 Don't know if I'm the only one thinking this, but the longer this drags on without the club being sold, the more I fear the possibility that Ashley will put us into administration. The club owes him £100 million in the form of a loan, for which there is no evidence that he intends to write off and I understand theres also an overdraft of 30 million and counting. The value of the club must be falling and the level of debt rising with each passing week and yet still he doesnt sell. Each month without a sale presumably means another 5 or 6 million paid out on player wages alone. Is Ashley paying this or is it added to the overdraft? We have I think 12 players tied into contracts of £50,000 or more, most of whom we will only get rid of if we continue to pay a percentage of their wages. If the club goes into administration could that be a way of making these expensive player contracts null and void, (in other words we are no longer legally bound to pay them)? At what point will it be in Ashleys interests to put the club into administration? Can someone who knows a lot more about finances than I do please reassure me and tell me my fears are completely unfounded? Unfortunately ive been saying that since he announced it was for sale, was shot down by alot of "experts" on this forum but I stand by it. Im hoping and praying im wrong but i stand by it. He isnt going to put any money in, thus making the holding company bankrupt, hes also pricing us out of the market, if you were a serious investor would you pay ashleys inflated fee in a distressed sale or make a best offer to the administrators? What i want to know is where the premier leagues "proper person" test comes into this, becaue hes a fucking liability who has caused this club irrepairable damage, so surely someone is accountable. It cannot be legal to buy and destroy a premier league club through mismanagement and vindictiveness, because if it is im starting a buy sunderland fund tomorrow. Link to post Share on other sites More sharing options...
dustynrg Posted July 16, 2009 Share Posted July 16, 2009 Groundhog Day Thread Alert. We're going around in circles, administration was discussed about 50 pages ago. It's like one of those dreams where you run and you're not going anywhere fast. I'm not sure what's worse, no sale news or reading this thread, the problem is it's an addiction. I wish I was a poor Newcastle United Player who's getting treated like a Taiwanese T Shirt maker apparently, all I would have to worry about would be whether the club was getting sold in time and I didn''t have to lose any money by putting in a transfer request first. I'm trying the buddhist thing, "This too will pass", I just wish it would bloodly well pass before we all die of turgidity. Link to post Share on other sites More sharing options...
Matt Posted July 16, 2009 Share Posted July 16, 2009 Jesus. Ashley will not put us into administration. Barclays on the other hand...... Link to post Share on other sites More sharing options...
ChezGiven Posted July 16, 2009 Share Posted July 16, 2009 The forum software will arrive 3 days before the club is sold. Dave will be in the process of updating the software when it happens. Link to post Share on other sites More sharing options...
Dave Posted July 16, 2009 Share Posted July 16, 2009 John Gibson from the Chronicle was at the NUSC gathering tonight. John Gibson suggested that there's been no bid close to £100m tonight. He also intimated that the malaysians were just casino buddies of Ashley who'd come to put on a show of interest. The only actual interest has been the £55m bid from Shepherd and a US hedge fund. Link to post Share on other sites More sharing options...
Ketsbaia Posted July 17, 2009 Share Posted July 17, 2009 ive lost all faith in a takeover happening before the season starts, if at all. all these positive news stories have turned out to be lies and everythings happening soooooooooo slowly. and if what john gibson says is true, im starting to get seriously worried. unless some rich guy wakes up one morning and suddenly says "hey, lets give them what they want right now and get this sorted ASAP", there appears to be no end in sight. its so unbelievably painful to watch this happen, knowing theres not a damn thing we can do about it. time to cry Link to post Share on other sites More sharing options...
madras Posted July 17, 2009 Share Posted July 17, 2009 John Gibson from the Chronicle was at the NUSC gathering tonight. John Gibson suggested that there's been no bid close to £100m tonight. He also intimated that the malaysians were just casino buddies of Ashley who'd come to put on a show of interest. The only actual interest has been the £55m bid from Shepherd and a US hedge fund. if john gibson says that, is it safe to assume that an auction is taking place above 100mill ? Link to post Share on other sites More sharing options...
Skirge Posted July 17, 2009 Share Posted July 17, 2009 John Gibson from the Chronicle was at the NUSC gathering tonight. John Gibson suggested that there's been no bid close to £100m tonight. He also intimated that the malaysians were just casino buddies of Ashley who'd come to put on a show of interest. The only actual interest has been the £55m bid from Shepherd and a US hedge fund. And yet they have not ran with any of that in the paper. Link to post Share on other sites More sharing options...
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