cp40 Posted August 24, 2009 Share Posted August 24, 2009 jeesus wept. Link to post Share on other sites More sharing options...
Guest Brazilianbob Posted August 24, 2009 Share Posted August 24, 2009 I'm no tax expert but surely MA can offset the £110m loss at NUFC against taxable income from Sports Direct? Link to post Share on other sites More sharing options...
Broadsword Posted August 24, 2009 Share Posted August 24, 2009 I'm no tax expert but surely MA can offset the £110m loss at NUFC against taxable income from Sports Direct? Nope, capital losses against capital gains only I believe. Link to post Share on other sites More sharing options...
NG32 Posted August 24, 2009 Share Posted August 24, 2009 I'm no tax expert but surely MA can offset the £110m loss at NUFC against taxable income from Sports Direct? Nope, capital losses against capital gains only I believe. So he was right, he isn't a tax expert. Link to post Share on other sites More sharing options...
Guest DavB93 Posted August 24, 2009 Share Posted August 24, 2009 I'm no tax expert but surely MA can offset the £110m loss at NUFC against taxable income from Sports Direct? Nope, capital losses against capital gains only I believe. Yeah your correct mate. Link to post Share on other sites More sharing options...
Sargey Posted August 24, 2009 Share Posted August 24, 2009 480 pages! :frantic: :frantic: Link to post Share on other sites More sharing options...
Guest Redheugh Posted August 24, 2009 Share Posted August 24, 2009 ....and its coming to an end very soon Link to post Share on other sites More sharing options...
junkhead Posted August 24, 2009 Share Posted August 24, 2009 ....and its coming to an end very soon yeah sure Link to post Share on other sites More sharing options...
Pilko Posted August 24, 2009 Share Posted August 24, 2009 ....and its coming to an end very soon yeah sure agreed. Link to post Share on other sites More sharing options...
ED209 Posted August 24, 2009 Share Posted August 24, 2009 Drove past shearers parents house today about 1200hrs, saw mrs shearer outshide getting into her vehicle however there was also o black range rover outside with a mispaced reg plate that said something like "?? X MD" I cant remember the first 2 characters. could this belong to some one linked to the take over? could MD stand for managing director? ? Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted August 24, 2009 Share Posted August 24, 2009 Drove past shearers parents house today about 1200hrs, saw mrs shearer outshide getting into her vehicle however there was also o black range rover outside with a mispaced reg plate that said something like "?? X MD" I cant remember the first 2 characters. could this belong to some one linked to the take over? could MD stand for managing director? ? Are you Ronan Keating Link to post Share on other sites More sharing options...
Guest Redheugh Posted August 24, 2009 Share Posted August 24, 2009 Link to post Share on other sites More sharing options...
maze Posted August 24, 2009 Share Posted August 24, 2009 how very disappointing. Link to post Share on other sites More sharing options...
SUPERTOON Posted August 24, 2009 Share Posted August 24, 2009 Tbh, this is actually the only deadline officially announced by the club isn't it? The rest were just media speculation i think. Link to post Share on other sites More sharing options...
ianovthetoon Posted August 24, 2009 Share Posted August 24, 2009 Tbh, this is actually the only deadline officially announced by the club isn't it? The rest were just media speculation i think. exactly Link to post Share on other sites More sharing options...
Matt Posted August 24, 2009 Share Posted August 24, 2009 I've said this before, but in order to get the accounts signed, Ashley (or more specifically SJP Holdings) will have signed a guarantee that the loan will not be recalled within one year from the date the accounts were signed. By using transfer fees to pay off this loan he would be comitting fraud. Of course the terms of the loan could show that (e.g.) £20m is payable each year back to Ashley on demand. If this is the case then there would be no reason why this could not be front loaded. I haven't seen the loan agreement so don't know its specifics, but I seriously doubt that it is structured in a way which would allow it all to be called in at once unless there is a major event (like a change in ownership) There's nothing to stop NUFC voluntarily prepaying the loan out of disposable cashflow, even if it the whole amount fell due after more than one year. However I'd be very surprised if Barclays did not put in clauses to ensure incoming cash was trapped and used to pay down their facility first and if all they have is an overdraft then I'd cancel it tomorrow and put them into a structured loan that would ensure no cash can be taken out of the business. If a penny has gone out of NUFC up to SJHL while the Barclays loan is in place then someone at the bank has been extremely generous. Link to post Share on other sites More sharing options...
Guest DavB93 Posted August 24, 2009 Share Posted August 24, 2009 Tbh, this is actually the only deadline officially announced by the club isn't it? The rest were just media speculation i think. exactly Still disappointing though, wonder what will happen now. Link to post Share on other sites More sharing options...
Zero Posted August 24, 2009 Share Posted August 24, 2009 to look in an optimistic point of view, this means Ashley did want to sell the club to Moat --- and probably Moat do have a chance to secure his finance, or else Ashley would simply take the club off the market. Link to post Share on other sites More sharing options...
Guest Geordiekev Posted August 24, 2009 Share Posted August 24, 2009 Looks as though the new players are on route, well according to the official site http://www.nufc.premiumtv.co.uk/page/SeniorSquad/0,,10278,00.html Link to post Share on other sites More sharing options...
James Posted August 24, 2009 Share Posted August 24, 2009 Looks as though the new players are on route, well according to the official site http://www.nufc.premiumtv.co.uk/page/SeniorSquad/0,,10278,00.html good spot! Link to post Share on other sites More sharing options...
Guest michaelfoster Posted August 24, 2009 Share Posted August 24, 2009 Drove past shearers parents house today about 1200hrs, saw mrs shearer outshide getting into her vehicle however there was also o black range rover outside with a mispaced reg plate that said something like "?? X MD" I cant remember the first 2 characters. could this belong to some one linked to the take over? could MD stand for managing director? ? Michael Dawson paying a visit Link to post Share on other sites More sharing options...
James Posted August 24, 2009 Share Posted August 24, 2009 Drove past shearers parents house today about 1200hrs, saw mrs shearer outshide getting into her vehicle however there was also o black range rover outside with a mispaced reg plate that said something like "?? X MD" I cant remember the first 2 characters. could this belong to some one linked to the take over? could MD stand for managing director? ? Michael Dawson paying a visit Looking for WAAAAAAAAAAALT! http://www.blog-city.info/en/img5/577_bio_Perrineau.jpg Link to post Share on other sites More sharing options...
UV Posted August 24, 2009 Share Posted August 24, 2009 I've said this before, but in order to get the accounts signed, Ashley (or more specifically SJP Holdings) will have signed a guarantee that the loan will not be recalled within one year from the date the accounts were signed. By using transfer fees to pay off this loan he would be comitting fraud. Of course the terms of the loan could show that (e.g.) £20m is payable each year back to Ashley on demand. If this is the case then there would be no reason why this could not be front loaded. I haven't seen the loan agreement so don't know its specifics, but I seriously doubt that it is structured in a way which would allow it all to be called in at once unless there is a major event (like a change in ownership) There's nothing to stop NUFC voluntarily prepaying the loan out of disposable cashflow, even if it the whole amount fell due after more than one year. However I'd be very surprised if Barclays did not put in clauses to ensure incoming cash was trapped and used to pay down their facility first and if all they have is an overdraft then I'd cancel it tomorrow and put them into a structured loan that would ensure no cash can be taken out of the business. If a penny has gone out of NUFC up to SJHL while the Barclays loan is in place then someone at the bank has been extremely generous. Why? As long as we're paying the interest, and as long as the overdraft is guaranteed by Ashley, the bigger the overdraft (up to the limit of the facility) the better as far as they are concerned. It's how they make money. Link to post Share on other sites More sharing options...
Guest Mantis Posted August 24, 2009 Share Posted August 24, 2009 Very convenient. No announcement will be made Bank Hol monday, so Tuesday will bring news on the clubs position for next twelve months. Oh and the transfer window has just shut, oops, didn't see that coming. 2 or 3 players to be gone by deadline a bunch of loan offerings coming in. Will it ever end? Link to post Share on other sites More sharing options...
Matt Posted August 24, 2009 Share Posted August 24, 2009 Why? As long as we're paying the interest, and as long as the overdraft is guaranteed by Ashley, the bigger the overdraft (up to the limit of the facility) the better as far as they are concerned. It's how they make money. Because banks want their money back when it's at risk and you cannot argue it is not at risk now. MA will not have personally guaranteed the whole amount by putting the equivalent amount of cash in a Barclays account, otherwise he might as well put the money into the club and not pay the interest. They will have an appetite for risk and how much they are comfortable lending to each counterparty- clearly this amount is being breached following our relegation. I'd imagine Barclays would be loathe to demand the whole thing back so would be wise to look for it to be run down quietly to a level at which they are more comforable. Your concept of 'bigger is better' as long as they can service the debt is insane. It has to be paid back sooner or later- you can't live on the 'never never'. Banks now are looking to get their money back where possible from risky operations like NUFC. Link to post Share on other sites More sharing options...
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