madras Posted May 31, 2009 Share Posted May 31, 2009 How will a sale to another owner affect the loan we have to pay back to Ashley? that will be the small print he'll try to hide......just like was done to him. He only had to look at the accounts that anyone can download, which were even more detailed when we were a plc. Staggering that he didn't even ask the question. what wasn't in those accounts were the terms in which any loans had to be repaid. Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted May 31, 2009 Share Posted May 31, 2009 So already the 'there are parties interested' stories are out. Believe it when I see it, like last time. Sky Sports are brilliant at it. Take a story someone else has broken & start adding to it & make it "Sky Sports understands....." Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted May 31, 2009 Share Posted May 31, 2009 How will a sale to another owner affect the loan we have to pay back to Ashley? that will be the small print he'll try to hide......just like was done to him. He only had to look at the accounts that anyone can download, which were even more detailed when we were a plc. Staggering that he didn't even ask the question. what wasn't in those accounts were the terms in which any loans had to be repaid. Including the millions of pounds of early redemption penalties. Link to post Share on other sites More sharing options...
Dave Posted May 31, 2009 Share Posted May 31, 2009 The debts were there in black and white, they were hardly a secret. As Matt says, if he'd even enquired about them he could have easily found out the repayment terms and any penalties. Link to post Share on other sites More sharing options...
Fenham Mag Posted May 31, 2009 Share Posted May 31, 2009 What happened to Michael Dell ? Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted May 31, 2009 Share Posted May 31, 2009 By all accounts the timescale deadline imposed by the Hall's to complete the sale made full due diligence impossible. That's the chance Ashley took though & one which has obviously backfired. FWIW though I don't think it's the state of those initial debts which has caused the financial problem, it's more the financial state of the club overall in terms of onerous contracts, already spent future revenue etc Link to post Share on other sites More sharing options...
Jaehyun Posted May 31, 2009 Share Posted May 31, 2009 Sorry to run this Sky story again but its the highlighted bit that caught my eye that makes it more interesting Newcastle United could be sold within a month and at least two parties have already expressed their interest in buying the club, according to Sky Sports News. Sky Sports News' chief news reporter Bryan Swanson understands no bids have yet been made after Mike Ashley put the club up for sale following their relegation to the Championship. Ashley is believed to want in the region of £100m and Swanson has been told there is every expectation a deal will be concluded 'quickly' after a 'high level of interest'. [glow=red,2,300]It's understood the two parties who have expressed an interest did not approach the club when it was initially put up for sale in September last year.[/glow] Leading London investment bank Seymour Pierce, who have been commissioned to sell the club, have yet to comment on the latest takeover talks. Maybe a non story but it Could be a sugar daddy or Fat Fred and his posse If they weren't interested back in September, why not? Do they not have enough cash to match Ashley's earlier valuation? Are they just looking for a cheap club? Have they only recently found the funds? I'm sure the fact that the price-tag on our club has been reduced by 75% must have something to do wth it. It was up for 400 million pounds last September was it not? If it's 100 million pounds now, that's quite a cut. Link to post Share on other sites More sharing options...
ikri Posted May 31, 2009 Share Posted May 31, 2009 Sorry to run this Sky story again but its the highlighted bit that caught my eye that makes it more interesting Newcastle United could be sold within a month and at least two parties have already expressed their interest in buying the club, according to Sky Sports News. Sky Sports News' chief news reporter Bryan Swanson understands no bids have yet been made after Mike Ashley put the club up for sale following their relegation to the Championship. Ashley is believed to want in the region of £100m and Swanson has been told there is every expectation a deal will be concluded 'quickly' after a 'high level of interest'. [glow=red,2,300]It's understood the two parties who have expressed an interest did not approach the club when it was initially put up for sale in September last year.[/glow] Leading London investment bank Seymour Pierce, who have been commissioned to sell the club, have yet to comment on the latest takeover talks. Maybe a non story but it Could be a sugar daddy or Fat Fred and his posse If they weren't interested back in September, why not? Do they not have enough cash to match Ashley's earlier valuation? Are they just looking for a cheap club? Have they only recently found the funds? I'm sure the fact that the price-tag on our club has been reduced by 75% must have something to do wth it. It was up for 400 million pounds last September was it not? If it's 100 million pounds now, that's quite a cut. I've always thought that figure was a bit weird, it was only reported from a single source when all the other sources were saying £240m was the asking price. The 400 million figure may have been the price in dollars, since at the time $400m would have been roughly £240m. Link to post Share on other sites More sharing options...
Matt Posted May 31, 2009 Share Posted May 31, 2009 By all accounts the timescale deadline imposed by the Hall's to complete the sale made full due diligence impossible. That's the chance Ashley took though & one which has obviously backfired. FWIW though I don't think it's the state of those initial debts which has caused the financial problem, it's more the financial state of the club overall in terms of onerous contracts, already spent future revenue etc I've not got a copy to hand, but the sponsorship deals paid up front but not earned should have been classed as a liability on the books. The stadium debt was subject to a change of control clause, but not only is that a pretty standard clause, he could always have googled it- http://www.telegraph.co.uk/sport/football/2343907/Takeover-bid-is-a-fog-on-the-Tyne.html Link to post Share on other sites More sharing options...
Dave Posted May 31, 2009 Share Posted May 31, 2009 We're given to understand that the £100m price tag is an "all-in" price and that Ashley has written off the estimated £110m of additional funding that he shored up the club with - in other words a new owner does inherit that extra sum as a liability. Could make us a hell of a lot more attractive. Link to post Share on other sites More sharing options...
Parky Posted May 31, 2009 Share Posted May 31, 2009 We're given to understand that the £100m price tag is an "all-in" price and that Ashley has written off the estimated £110m of additional funding that he shored up the club with - in other words a new owner does inherit that extra sum as a liability. Could make us a hell of a lot more attractive. I'm inclined to think he'll take what he can get especially with wages running so high (money that has to be found every month) till they are shifted. Might not be so easy to shift either. Link to post Share on other sites More sharing options...
Taylor Swift Posted May 31, 2009 Share Posted May 31, 2009 Either Ashley is in some serious financial trouble or he's just a major idiot for selling now when losing £30-40m this year but getting us promoted will instantly mean that our valuation rises by more than what he'll lose this year. Link to post Share on other sites More sharing options...
Dave Posted May 31, 2009 Share Posted May 31, 2009 We're given to understand that the £100m price tag is an "all-in" price and that Ashley has written off the estimated £110m of additional funding that he shored up the club with - in other words a new owner does inherit that extra sum as a liability. Could make us a hell of a lot more attractive. I'm inclined to think he'll take what he can get especially with wages running so high (money that has to be found every month) till they are shifted. Might not be so easy to shift either. Aye, the wages until Owen/Viduka/Cacapa/etc fuck off are just dead money now the season is over. The quicker he gets out the better for him. Link to post Share on other sites More sharing options...
Skirge Posted May 31, 2009 Share Posted May 31, 2009 Not as daft as it seems, £100mill get em interested and start the bidding war. Next the club will be on fkn ebay Link to post Share on other sites More sharing options...
Pilko Posted May 31, 2009 Share Posted May 31, 2009 We're given to understand that the £100m price tag is an "all-in" price and that Ashley has written off the estimated £110m of additional funding that he shored up the club with - in other words a new owner does inherit that extra sum as a liability. Could make us a hell of a lot more attractive. I'm inclined to think he'll take what he can get especially with wages running so high (money that has to be found every month) till they are shifted. Might not be so easy to shift either. Aye, the wages until Owen/Viduka/Cacapa/etc fuck off are just dead money now the season is over. The quicker he gets out the better for him. If you think about it (assuming Owen is on £105,000 a week as many papers and FM document) then from the final day on May 24th, Owen will make £525,000, over half a million, from simply going into training for a couple of days and then sunning it and watching racehorses, in 5 weeks. Link to post Share on other sites More sharing options...
Taylor Swift Posted May 31, 2009 Share Posted May 31, 2009 How much did Ashley pay for the club? £134m for the all the shares plus taking on the £80m debt, am I right? That means he paid about £210m for the club. He's put £110m in at interest-free rate into the club. I imagine he'll sell for £100m and change the interest on the debt to something more standard (7% or something). It depends on how willing the new owners will be to finance a spending-spree of sorts because we're already losing money every month. Fake edit: Or is what .com saying is that he'll just forget about the £110m he's put in and just sell the club for £100m straight, taking the £110m as a loss? Link to post Share on other sites More sharing options...
Slugsy Posted May 31, 2009 Share Posted May 31, 2009 Depends on if Ashley wants £100m for the Enterprise Value of the business or £100m for the equity value. I'm assuming its equity value and thus the cost of the debt will be in addition. Link to post Share on other sites More sharing options...
Taylor Swift Posted May 31, 2009 Share Posted May 31, 2009 That'd mean relegation will only cost him £4m. Lucky bastard. Link to post Share on other sites More sharing options...
Guest toonlass Posted May 31, 2009 Share Posted May 31, 2009 What is the difference Slugsy? Link to post Share on other sites More sharing options...
Matt Posted May 31, 2009 Share Posted May 31, 2009 What .com said makes sense. £100m (likely a bit less) gets you the club and the £110m owed to Ashley is written off. Link to post Share on other sites More sharing options...
doublecrown Posted May 31, 2009 Share Posted May 31, 2009 According to Guardian.co.uk: "If he stays, Shearer is keen to reinforce the squad by signing Paul Scholes from Manchester United on a free transfer but high wages and Jermaine Beckford, the pacy Leeds United striker, for around £2m." Any thoughts? Link to post Share on other sites More sharing options...
Guest Heneage Posted May 31, 2009 Share Posted May 31, 2009 According to Guardian.co.uk: "If he stays, Shearer is keen to reinforce the squad by signing Paul Scholes from Manchester United on a free transfer but high wages and Jermaine Beckford, the pacy Leeds United striker, for around £2m." Any thoughts? Why would Scholes join us? Link to post Share on other sites More sharing options...
lovejoy Posted May 31, 2009 Share Posted May 31, 2009 What .com said makes sense. £100m (likely a bit less) gets you the club and the £110m owed to Ashley is written off. exactly. makes no sense. if its written off, it doesnt become a liability. slugsy may well be able to add to this Link to post Share on other sites More sharing options...
Mike Posted May 31, 2009 Share Posted May 31, 2009 Scholes will be Butt while Butt is being Butt. Link to post Share on other sites More sharing options...
Dave Posted May 31, 2009 Share Posted May 31, 2009 Scholes. Link to post Share on other sites More sharing options...
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