Greg Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? I'm no expert but from what I gather that would be embezzlement and thus illegal. Link to post Share on other sites More sharing options...
Colos Short and Curlies Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. WHo would take it off him then? Come on man, only a fool would buy us even for £50m Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. WHo would take it off him then? Come on man, only a fool would buy us even for £50m Thats where your logic fails. 50mil for a club with huge fanbase, top facilities, and LOW wage bill is far more tempting than 100mil for a club with huge fanbase, top facilities, overrated stars and HUGE wage bill! Link to post Share on other sites More sharing options...
Guest Pedro_de_geordieo Posted August 12, 2009 Share Posted August 12, 2009 I agree SuperToon. I was speaking to someone yesterday and we were talking about Ashleys intentions. I'm coming round to the opinion that he never intended to sell and this has all been a smokescreen so he didn't have to spend any money. His value might have been deliberatly unrealistic to put off bidders. The only thing against this idea I can think of is that he's still been paying players and didn't sell players earlier in the window. I've been saying this all along, I bet SP are a bit pissed at him though for being messed around and next season when he decides to sell again I bet they tell him to F*** off. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. WHo would take it off him then? Come on man, only a fool would buy us even for £50m Thats where your logic fails. 50mil for a club with huge fanbase, top facilities, and LOW wage bill is far more tempting than 100mil for a club with huge fanbase, top facilities, overrated stars and HUGE wage bill! Good one, pull me up for logic? Are you even aware theres now under 20 days til the transfer window? Are you even aware how long it would take to sell the players let alone then conclude the sale of the club then appoint a manager then buy an entire squad? So what if the club is bought for £50m. It would be a shell of a club without players and virtually zero chance of getting it near sorted by 31 August. This is the real world not Football Manager FFS Jesus H Christ you think MY logic fails? Link to post Share on other sites More sharing options...
Broadsword Posted August 12, 2009 Share Posted August 12, 2009 If he poured £100m into the club, the club owes him £100m. If the club has £50m in cash available, then he is quite entitled to take that out of the club. If doing so however were to endanger the clubs status as a going concern and it goes bust because of that he would be liable personally. So yes, Ashley could take whatever out of the club he wants to until his loan is repaid. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. WHo would take it off him then? Come on man, only a fool would buy us even for £50m Thats where your logic fails. 50mil for a club with huge fanbase, top facilities, and LOW wage bill is far more tempting than 100mil for a club with huge fanbase, top facilities, overrated stars and HUGE wage bill! Good one, pull me up for logic? Are you even aware theres now under 20 days til the transfer window? Are you even aware how long it would take to sell the players let alone then conclude the sale of the club then appoint a manager then buy an entire squad? So what if the club is bought for £50m. It would be a shell of a club without players and virtually zero chance of getting it near sorted by 31 August. This is the real world not Football Manager FFS Jesus H Christ you think MY logic fails? But i am not talking about it getting sold in the next few weeks. I am saying (and i will say this slowly) if he fails to sell the club this summer (are you still with me) he will take spend the next 12-24 months reassembling/selling players make a more streamlined proposition for potential buyers whilst making a tidy little profit in the mean time Link to post Share on other sites More sharing options...
Skirge Posted August 12, 2009 Share Posted August 12, 2009 Barry Moat and Mike Ashley set for last supper? Aug 12 2009 by Lee Ryder, Evening Chronicle MIKE Ashley and wannabe owner Barry Moat are on the guest list for a pre-match lunch at St James’s Park ahead of Saturday’s home opener with Reading. However, unfortunately for Toon fans desperate to see a conclusion to the summer-long takeover deal the pair will be forbidden to talk terms on United’s long, drawn-out sale. Tyneside businessman Moat, who was yesterday played down as a leading takeover contender by Ashley’s PR people, is currently working with lawyers to prove to Ashley he is a serious bidder who can provide the club with a convincing financial package and action plan. Instead, Moat and Ashley will merely be guests in St James’s Park’s luxurious Magpie Suite for a curtain-raiser dinner to mark the start of the season in aid of charity the Newcastle United Foundation. A United insider said today: “Both Barry and Mike are invited to the dinner. “They are both expected to be there and we have not been told they are not coming.” The Chronicle understands Moat, who is one of United’s top corporate customers, is still clamouring to pull funds together for his bid with a range of local investors – including Collingwood Insurance’s chief executive officer Alan Beenshill – but has yet to come near to any agreement with Ashley or investment bank Seymour Pierce. The Ashley camp have made it clear they are doing everything they can to assist potential buyers and United’s financial controller John Irving has been in central London in the last seven days. However, as we reported last night, Ashley does not expect the sale to go through before the Reading game. Fears, though, are rife at St James’s that the current squad, which consists of just 18 senior players, is nowhere near strong enough to deal with the rigours of life in the Championship with another 45 league games to go and at least two cup ties in the League and FA Cups respectively. With time ticking away in the August transfer window, which slams shut on September 1, caretaker boss Chris Hughton is concerned by the paper-thin nature of his roster. Ashley could yet bring in an interim manager, with David O’Leary, Alan Curbishley and Gordon Strachan names mooted for the job. Yet despite their experience at top level, they are not miracle workers and, with many clubs done and dusted in the transfer market with just over two weeks to go in the window, whether it is Hughton or anybody else, they would be forced to scour through the football scrapheap to bolster their squad. We reported on August 5 that O’Leary was at the top of Ashley’s candidate list, but the ex-Leeds boss, currently in Ireland on a family holiday, is unwilling to take the job while United are up for sale. The former Eire international will insist on a two-year contract and the right to bring in his own backroom team, which may include ex-Toon captain Roy Aitken, currently assistant to Birmingham’s Alex McLeish. Meanwhile, United coach Colin Calderwood was at the Madjeski Stadium to take in Reading’s convincing carling Cup triumph over Burton Albion last night ahead of Saturday’s home opener with the Royals. http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/08/12/barry-moat-and-mike-ashley-set-for-last-supper-72703-24380588/ Link to post Share on other sites More sharing options...
Guest Roger Kint Posted August 12, 2009 Share Posted August 12, 2009 As if Ashley can just take £50m out of the club man It's still a UK business. I'm no expert but surely HMRC would be on him like a shot if he tried something like that? 50% of £50m is better than 100% of nothing though... What he could do in theory is sell the players and repay some of the loan he has made to the club - unless he has given a written declaration that the loan would not be called in during a specified period (and of course we are still in that period). My guess would be that in order to get a clean audit opinion he would have had to provide such a guarantee. Losing the wages would make the club more attractive, but the transfer fees received should not change the value of the club unless (as has been pointed out somewhere in here before) we are selling at figures grossly over or under what the buyers of the club valued the players at. WHo would take it off him then? Come on man, only a fool would buy us even for £50m Thats where your logic fails. 50mil for a club with huge fanbase, top facilities, and LOW wage bill is far more tempting than 100mil for a club with huge fanbase, top facilities, overrated stars and HUGE wage bill! Good one, pull me up for logic? Are you even aware theres now under 20 days til the transfer window? Are you even aware how long it would take to sell the players let alone then conclude the sale of the club then appoint a manager then buy an entire squad? So what if the club is bought for £50m. It would be a shell of a club without players and virtually zero chance of getting it near sorted by 31 August. This is the real world not Football Manager FFS Jesus H Christ you think MY logic fails? But i am not talking about it getting sold in the next few weeks. I am saying (and i will say this slowly) if he fails to sell the club this summer (are you still with me) he will take spend the next 12-24 months reassembling/selling players make a more streamlined proposition for potential buyers whilst making a tidy little profit in the mean time Oh why didnt you say, instead of being daft you are clearly delusional. I wont act the twat like you and suggest reading slower but i will ask, what the hell sort of club can survive a season like that? It will still be unsold as £50m ofr a League 1 side is still extreme. The only way to make the club look saleable is for players IN not emptying the squad. Apologises for rational thinking there, i was clearly on the wrong track...oh look i can patronise too Link to post Share on other sites More sharing options...
beardsleymagic Posted August 12, 2009 Share Posted August 12, 2009 Barry Moat and Mike Ashley set for last supper? Aug 12 2009 by Lee Ryder, Evening Chronicle MIKE Ashley and wannabe owner Barry Moat are on the guest list for a pre-match lunch at St James’s Park ahead of Saturday’s home opener with Reading. However, unfortunately for Toon fans desperate to see a conclusion to the summer-long takeover deal the pair will be forbidden to talk terms on United’s long, drawn-out sale. Tyneside businessman Moat, who was yesterday played down as a leading takeover contender by Ashley’s PR people, is currently working with lawyers to prove to Ashley he is a serious bidder who can provide the club with a convincing financial package and action plan. Instead, Moat and Ashley will merely be guests in St James’s Park’s luxurious Magpie Suite for a curtain-raiser dinner to mark the start of the season in aid of charity the Newcastle United Foundation. A United insider said today: “Both Barry and Mike are invited to the dinner. “They are both expected to be there and we have not been told they are not coming.” The Chronicle understands Moat, who is one of United’s top corporate customers, is still clamouring to pull funds together for his bid with a range of local investors – including Collingwood Insurance’s chief executive officer Alan Beenshill – but has yet to come near to any agreement with Ashley or investment bank Seymour Pierce. The Ashley camp have made it clear they are doing everything they can to assist potential buyers and United’s financial controller John Irving has been in central London in the last seven days. However, as we reported last night, Ashley does not expect the sale to go through before the Reading game. Fears, though, are rife at St James’s that the current squad, which consists of just 18 senior players, is nowhere near strong enough to deal with the rigours of life in the Championship with another 45 league games to go and at least two cup ties in the League and FA Cups respectively. With time ticking away in the August transfer window, which slams shut on September 1, caretaker boss Chris Hughton is concerned by the paper-thin nature of his roster. Ashley could yet bring in an interim manager, with David O’Leary, Alan Curbishley and Gordon Strachan names mooted for the job. Yet despite their experience at top level, they are not miracle workers and, with many clubs done and dusted in the transfer market with just over two weeks to go in the window, whether it is Hughton or anybody else, they would be forced to scour through the football scrapheap to bolster their squad. We reported on August 5 that O’Leary was at the top of Ashley’s candidate list, but the ex-Leeds boss, currently in Ireland on a family holiday, is unwilling to take the job while United are up for sale. The former Eire international will insist on a two-year contract and the right to bring in his own backroom team, which may include ex-Toon captain Roy Aitken, currently assistant to Birmingham’s Alex McLeish. Meanwhile, United coach Colin Calderwood was at the Madjeski Stadium to take in Reading’s convincing carling Cup triumph over Burton Albion last night ahead of Saturday’s home opener with the Royals. http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/08/12/barry-moat-and-mike-ashley-set-for-last-supper-72703-24380588/ Eh? I thought he was the choice of SP? If he's struggling to put together funds, how did he enter DD? Total bollocks! Link to post Share on other sites More sharing options...
Newcastle Fan Posted August 12, 2009 Share Posted August 12, 2009 The state of the club right now is so depressing its beyond belief. Link to post Share on other sites More sharing options...
Skirge Posted August 12, 2009 Share Posted August 12, 2009 We were told from the off they had to prove funds before being allowed to to view the data room. Link to post Share on other sites More sharing options...
mouldy_uk Posted August 12, 2009 Share Posted August 12, 2009 The state of the club right now is so depressing its beyond belief. Tell me about it I think we need the poll on this thread reset to do you think Ashley will be in charge come Sept 1st, or whenever it is that the transfer deadline comes in. Link to post Share on other sites More sharing options...
Dave Posted August 12, 2009 Share Posted August 12, 2009 Eh? I thought he was the choice of SP? If he's struggling to put together funds, how did he enter DD? Total bollocks! Exactly. Proof of funds and recommendations will have been done weeks (if not months) ago. If anything is happening I imagine it will just be bartering over the total price and/or how it's paid. The Chronicle is no different from any of the other media outlets; if anyone was arsed enough to track their stories from day one they'd find an absolute shedload of u-turns and contradictions. Link to post Share on other sites More sharing options...
Colos Short and Curlies Posted August 12, 2009 Share Posted August 12, 2009 If he poured £100m into the club, the club owes him £100m. If the club has £50m in cash available, then he is quite entitled to take that out of the club. If doing so however were to endanger the clubs status as a going concern and it goes bust because of that he would be liable personally. So yes, Ashley could take whatever out of the club he wants to until his loan is repaid. Due to the state of the club, in order to get the accounts signed off it is more than likely that he will have signed a declaration stating that he will not call in the loan within 12 months. Sets himself up for all sorts of legal action if he does this and the club went pop Link to post Share on other sites More sharing options...
Guest Roger Kint Posted August 12, 2009 Share Posted August 12, 2009 If he poured £100m into the club, the club owes him £100m. If the club has £50m in cash available, then he is quite entitled to take that out of the club. If doing so however were to endanger the clubs status as a going concern and it goes bust because of that he would be liable personally. So yes, Ashley could take whatever out of the club he wants to until his loan is repaid. Due to the state of the club, in order to get the accounts signed off it is more than likely that he will have signed a declaration stating that he will not call in the loan within 12 months. Sets himself up for all sorts of legal action if he does this and the club went pop Be likely he would have an agreement with the bank to completely clear the overdraft before he takes a penny too. Link to post Share on other sites More sharing options...
Guest Wally_McFool Posted August 12, 2009 Share Posted August 12, 2009 We were told from the off they had to prove funds before being allowed to to view the data room. Mike and Derek think that people have forgotten about that. Link to post Share on other sites More sharing options...
Ketsbaia Posted August 12, 2009 Share Posted August 12, 2009 the day before the reading match, we'll be told that we're nearly sold just so to protect ashley when he shows up. Link to post Share on other sites More sharing options...
Skirge Posted August 12, 2009 Share Posted August 12, 2009 When we all sing "One Barry Moat there's only one Barry Moat" Link to post Share on other sites More sharing options...
clintdempsey Posted August 12, 2009 Share Posted August 12, 2009 Barry Moat and Mike Ashley set for last supper? Aug 12 2009 by Lee Ryder, Evening Chronicle MIKE Ashley and wannabe owner Barry Moat are on the guest list for a pre-match lunch at St James’s Park ahead of Saturday’s home opener with Reading. However, unfortunately for Toon fans desperate to see a conclusion to the summer-long takeover deal the pair will be forbidden to talk terms on United’s long, drawn-out sale. Tyneside businessman Moat, who was yesterday played down as a leading takeover contender by Ashley’s PR people, is currently working with lawyers to prove to Ashley he is a serious bidder who can provide the club with a convincing financial package and action plan. Instead, Moat and Ashley will merely be guests in St James’s Park’s luxurious Magpie Suite for a curtain-raiser dinner to mark the start of the season in aid of charity the Newcastle United Foundation. A United insider said today: “Both Barry and Mike are invited to the dinner. “They are both expected to be there and we have not been told they are not coming.” The Chronicle understands Moat, who is one of United’s top corporate customers, is still clamouring to pull funds together for his bid with a range of local investors – including Collingwood Insurance’s chief executive officer Alan Beenshill – but has yet to come near to any agreement with Ashley or investment bank Seymour Pierce. The Ashley camp have made it clear they are doing everything they can to assist potential buyers and United’s financial controller John Irving has been in central London in the last seven days. However, as we reported last night, Ashley does not expect the sale to go through before the Reading game. Fears, though, are rife at St James’s that the current squad, which consists of just 18 senior players, is nowhere near strong enough to deal with the rigours of life in the Championship with another 45 league games to go and at least two cup ties in the League and FA Cups respectively. With time ticking away in the August transfer window, which slams shut on September 1, caretaker boss Chris Hughton is concerned by the paper-thin nature of his roster. Ashley could yet bring in an interim manager, with David O’Leary, Alan Curbishley and Gordon Strachan names mooted for the job. Yet despite their experience at top level, they are not miracle workers and, with many clubs done and dusted in the transfer market with just over two weeks to go in the window, whether it is Hughton or anybody else, they would be forced to scour through the football scrapheap to bolster their squad. We reported on August 5 that O’Leary was at the top of Ashley’s candidate list, but the ex-Leeds boss, currently in Ireland on a family holiday, is unwilling to take the job while United are up for sale. The former Eire international will insist on a two-year contract and the right to bring in his own backroom team, which may include ex-Toon captain Roy Aitken, currently assistant to Birmingham’s Alex McLeish. Meanwhile, United coach Colin Calderwood was at the Madjeski Stadium to take in Reading’s convincing carling Cup triumph over Burton Albion last night ahead of Saturday’s home opener with the Royals. http://www.chroniclelive.co.uk/nufc/newcastle-united-news/2009/08/12/barry-moat-and-mike-ashley-set-for-last-supper-72703-24380588/ So, if we try to decipher the small snippets from the different papers could it not be that Moat, Beenshill, Wylie and Rankin have formed a geordie consortium to try and buy the club? They have all been mentioned along Moat in different stories over the last week or so. Link to post Share on other sites More sharing options...
Guest antz1uk Posted August 12, 2009 Share Posted August 12, 2009 i missed this but it's obvious there has been interest in the past after reading this not sure who mentioned a board of 4 local businessmen, but this does sound quite an astute idea, the same sort of thing that the drumaville group were except they were from ireland graham wylie, alan beenshill, barry moat and alan rankin with shearer at the helm, at least you would know the club would be ran correctly Taken from 18th November last year........... Billionaire owner Mike Ashley is considering a plan that would take the heat off him at Newcastle – and line up Alan Shearer as the next manager. Talks have been held between Toon chairman Derek Llambias and a wealthy North-East businessman – understood to be insurance company boss and lifelong fan Alan Beenshill. Under Beenshill’s proposal, he would become chairman while Ashley would retain an involvement. But it is the prospect of Shearer returning as manager under the new regime that will excite Newcastle fans. It is believed Shearer is aware talks have started and has indicated he would be willing to work as manager with the would-be chairman. A source close to the negotiations said last night: “The businessman involved has built up a very successful company and is a shrewd guy. “He has a lot of ideas about the future of Newcastle and, if anybody can deliver Alan Shearer, he can. “This is a serious proposal and it’s one that would work out well for a lot of people. “It is very different to the sort of deals we’ve been hearing about involving investors from the Middle East and America. “It doesn’t involve a complete takeover but it could be the right way to go in the current financial climate. “We are talking about a devoted Newcastle United supporter who is ready to invest in the club and is keen on a hands-on role. “If Mike Ashley is adamant he wants £250million for the whole club, he won’t get it from this man, but he will see a return on some of his investment and retain a major stake.” Beenshill said last night: “I remain a massive fan of the club. “But I have no comment to make at this stage.” Link to post Share on other sites More sharing options...
UV Posted August 12, 2009 Share Posted August 12, 2009 If he poured £100m into the club, the club owes him £100m. If the club has £50m in cash available, then he is quite entitled to take that out of the club. If doing so however were to endanger the clubs status as a going concern and it goes bust because of that he would be liable personally. So yes, Ashley could take whatever out of the club he wants to until his loan is repaid. Due to the state of the club, in order to get the accounts signed off it is more than likely that he will have signed a declaration stating that he will not call in the loan within 12 months. Sets himself up for all sorts of legal action if he does this and the club went pop Forcibly calling the loan in, and the club choosing to pay part of the loan off are two separate things though aren't they? Am I right in thinking the club owes the money to the holding company, or is it the holding company which owes the money to Ashley as a private individual? Link to post Share on other sites More sharing options...
Guest antz1uk Posted August 12, 2009 Share Posted August 12, 2009 If he poured £100m into the club, the club owes him £100m. If the club has £50m in cash available, then he is quite entitled to take that out of the club. If doing so however were to endanger the clubs status as a going concern and it goes bust because of that he would be liable personally. So yes, Ashley could take whatever out of the club he wants to until his loan is repaid. Due to the state of the club, in order to get the accounts signed off it is more than likely that he will have signed a declaration stating that he will not call in the loan within 12 months. Sets himself up for all sorts of legal action if he does this and the club went pop Forcibly calling the loan in, and the club choosing to pay part of the loan off are two separate things though aren't they? Am I right in thinking the club owes the money to the holding company, or is it the holding company which owes the money to Ashley as a private individual? i think the holding company IS the club and thefefore owe the money to a private individual messr mike fat ashley Link to post Share on other sites More sharing options...
Frazzle Posted August 12, 2009 Share Posted August 12, 2009 graham wylie, alan beenshill, barry moat and alan rankin with shearer at the helm, at least you would know the club would be ran correctly Where did you get Wylie's name from? I read up on him and found out who he is but he hasn't been even rumoured to take over has he? Link to post Share on other sites More sharing options...
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