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...
Mattoon Posted August 24, 2009 Share Posted August 24, 2009 Anyone else concerned that having taken so long to "secure" the funding to buy the club, where will the funds come from for buying players, especially when we get promoted. Link to post Share on other sites More sharing options...
ianovthetoon 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? It doesn't say anywhere that the deadline is a week. For all we know it could have been 5pm tonight, with an announcement to be made tomorrow. The promise of news today from friday could have been on the premise that the OD would have been signed off friday night, but it took longer than expected. Link to post Share on other sites More sharing options...
Nicky Posted August 24, 2009 Share Posted August 24, 2009 Pretty happy reading that, seems like they are trying to do a deal, and its not too far off. Ashley hasn't taken the club off the market, and they've actually named Moat and not thrown in any other consortiums. Fingers crossed and all that... 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? It doesn't say anywhere that the deadline is a week. For all we know it could have been 5pm tonight, with an announcement to be made tomorrow. The promise of news today from friday could have been on the premise that the OD would have been signed off friday night, but it took longer than expected. We will wait and see what tomorrow brings then. I'd like to know when the £22m or so from transfers will be deducted from the £39m overdraft. I simply cant believe anyone would be stupid enough to pay MA anywhere near £100m and take on a £39m overdraft. Link to post Share on other sites More sharing options...
jackyboy Posted August 24, 2009 Share Posted August 24, 2009 This allows Ashley to say " I have done everything possible to facilitate the takeover but unfortunately Barry could not get the backing needed. As a result I am now taking the club off the market to give some stability" Link to post Share on other sites More sharing options...
Guest DMan Posted August 24, 2009 Share Posted August 24, 2009 I can't help but think all this is Ashley's parting gift to NUFC, extend the deadline to 1st Sept so no time for transfers, give Chris Hughton a 2 year contract and strip the club of all it's best players so we have a threadbare squad. That way he can walk away in the knowledge he won't look like a fool if we bounce straight back up to the Prem next season. I truly hope the fat b****** gets what is due to him for treating the club and fans with such disrespect Link to post Share on other sites More sharing options...
LucaAltieri Posted August 24, 2009 Share Posted August 24, 2009 So predictable... yet we keep falling for it. It's hard to know who is thicker, him or us? Link to post Share on other sites More sharing options...
Waddles mullet 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 That is so funny. As if big al would invite a potential signing or new managing director to his mam and dads for lunch!!!!!!! Link to post Share on other sites More sharing options...
Guest DMan Posted August 24, 2009 Share Posted August 24, 2009 Don't think it is a case of falling for it, it is just blind hope that we get him out of Toon asap. If he doesn't sell it would be nice to think that the fans would just not turn up to the games and then he will really feel it financially, but that won't happen either. Link to post Share on other sites More sharing options...
Guest Geordiekev Posted August 24, 2009 Share Posted August 24, 2009 Don't think it is a case of falling for it, it is just blind hope that we get him out of Toon asap. If he doesn't sell it would be nice to think that the fans would just not turn up to the games and then he will really feel it financially, but that won't happen either. And the point of that would be? other than allowing the makems screaming "where were you when you were shit" at us should we get promoted.. Leave the protests to the bastard tree huggers.. I've renewed my season ticket regardless of what the club does.. and will continue to support the squad regardless. Link to post Share on other sites More sharing options...
SUPERTOON Posted August 24, 2009 Share Posted August 24, 2009 Probably a stupid question, but if Moat doesn't get the backing from Barclay's, would he be able to try another bank? Link to post Share on other sites More sharing options...
ED209 Posted August 24, 2009 Share Posted August 24, 2009 Probably a stupid question, but if Moat doesn't get the backing from Barclay's, would he be able to try another bank? ,maybe he could try the provident? Link to post Share on other sites More sharing options...
BONTEMPI Posted August 24, 2009 Share Posted August 24, 2009 Probably a stupid question, but if Moat doesn't get the backing from Barclay's, would he be able to try another bank? Northern Rock Link to post Share on other sites More sharing options...
SUPERTOON Posted August 24, 2009 Share Posted August 24, 2009 Probably a stupid question, but if Moat doesn't get the backing from Barclay's, would he be able to try another bank? ,maybe he could try the provident? Nationwide is the best. Link to post Share on other sites More sharing options...
Recommended Posts