quayside Posted July 8, 2009 Share Posted July 8, 2009 the fastest the accountants have ruined a thread yet!!! Ah but the topic of the thread is an accountancy type topic innit Going back to the OP - he will lose money unless someone gives him £134 million for the club and repays his £110m (or whatever) debt in full. Really can't see that happening - so the answer is yes. Link to post Share on other sites More sharing options...
Lenny Posted July 8, 2009 Share Posted July 8, 2009 he will lost around 150 million, any fan that says he was here to make a profit the evidence and facts prove he's had to put more money in just to keep the club afloat Now I tend to steer clear of a lot of the financial talk but I get the impression a lot of that is down to his own fucks ups and shortsighted planning. Things such as making a profit in the transfer window and hoping we stayed up has ultimately backfired on him and cost him a lot more than the little bit he made in January. Link to post Share on other sites More sharing options...
Stu Posted July 8, 2009 Share Posted July 8, 2009 Lenny - no-one is apportioning blame for Ashley's eventual losses, just refuting this ridiculous idea that the guy has made money from the club. Link to post Share on other sites More sharing options...
Slugsy Posted July 8, 2009 Share Posted July 8, 2009 Did he not also stick in circa 30m for additional working cap? Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 8, 2009 Share Posted July 8, 2009 Obviously it's Ashley's own fault that he's going to lose money, but nevertheless he is going to lose it. Like stupeedo says, he is the second biggest loser after the fans. Link to post Share on other sites More sharing options...
Lenny Posted July 8, 2009 Share Posted July 8, 2009 Lenny - no-one is apportioning blame for Ashley's eventual losses, just refuting this ridiculous idea that the guy has made money from the club. Can you tell I just read the last post in the thread... Link to post Share on other sites More sharing options...
BottledDog Posted July 8, 2009 Share Posted July 8, 2009 Obviously it's Ashley's own fault that he's going to lose money, but nevertheless he is going to lose it. Like stupeedo says, he is the second biggest loser after the fans. After the fans? Hell it hurts, but the club lives on as does my looking forward to the coming season. Ashley has lost face, lost credibility, lost the security of his family (even if it is just a sense of unease, but it is likely more than that if he were to go out on the town again), and lost more money than I will ever get to see. I would say he has, all things considered, lost far more than me during his time here. A lot more than probably anyone on here. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted July 8, 2009 Share Posted July 8, 2009 Obviously it's Ashley's own fault that he's going to lose money, but nevertheless he is going to lose it. Like stupeedo says, he is the second biggest loser after the fans. After the fans? Hell it hurts, but the club lives on as does my looking forward to the coming season. Ashley has lost face, lost credibility, lost the security of his family (even if it is just a sense of unease, but it is likely more than that if he were to go out on the town again), and lost more money than I will ever get to see. I would say he has, all things considered, lost far more than me during his time here. A lot more than probably anyone on here. You're a braver man than me saying that! Probably right I suppose, I doubt many fans would have the perspective to admit it though. Link to post Share on other sites More sharing options...
Teasy Posted July 8, 2009 Share Posted July 8, 2009 He won't get the loan back along with 100m pound fee, so yes he's going to lose a lot of money. Link to post Share on other sites More sharing options...
BottledDog Posted July 8, 2009 Share Posted July 8, 2009 Obviously it's Ashley's own fault that he's going to lose money, but nevertheless he is going to lose it. Like stupeedo says, he is the second biggest loser after the fans. After the fans? Hell it hurts, but the club lives on as does my looking forward to the coming season. Ashley has lost face, lost credibility, lost the security of his family (even if it is just a sense of unease, but it is likely more than that if he were to go out on the town again), and lost more money than I will ever get to see. I would say he has, all things considered, lost far more than me during his time here. A lot more than probably anyone on here. You're a braver man than me saying that! Probably right I suppose, I doubt many fans would have the perspective to admit it though. It would be braver to admit some sympathy towards him. Not sure I can go that far following the catalogue of errors he has apparently buit up during much of his time in charge though. Link to post Share on other sites More sharing options...
TRon Posted July 8, 2009 Share Posted July 8, 2009 Obviously it's Ashley's own fault that he's going to lose money, but nevertheless he is going to lose it. Like stupeedo says, he is the second biggest loser after the fans. After the fans? Hell it hurts, but the club lives on as does my looking forward to the coming season. Ashley has lost face, lost credibility, lost the security of his family (even if it is just a sense of unease, but it is likely more than that if he were to go out on the town again), and lost more money than I will ever get to see. I would say he has, all things considered, lost far more than me during his time here. A lot more than probably anyone on here. You're a braver man than me saying that! Probably right I suppose, I doubt many fans would have the perspective to admit it though. It would be braver to admit some sympathy towards him. Not sure I can go that far after the catalogue of errors he has buit up during much of his time here. Exactly. It was his poor judgement which lost him the money, nothing else. He gambled he lost and managed to make Fred Shepherd look like a financial genius in the process. Difficult to feel much sympathy for that even if you are inclined. Link to post Share on other sites More sharing options...
Stu Posted July 8, 2009 Share Posted July 8, 2009 How on earth has he managed to make Shepherd look like a financial genius? that's almost on a par with the OP Just because Ashley made the mistakes doesn't mean that you can't afford him any empathy or recognition of his losses. Unless proven otherwise, he acted in how he thought was best for the club - which you can't fault his intentions for. His methods and decisions will be scrutinised forevermore, but it ludicrous to think that he came to SJP with the intention of deliberately failing. Link to post Share on other sites More sharing options...
Cronky Posted July 8, 2009 Share Posted July 8, 2009 He buys the club for £134 million, wipes £90 million off the debt, then puts the club up for sale for £100 million, and he still gets accused of being in it for the money. He's admitted himself that he's made some costly mistakes, but he seems to be doing the decent thing in getting out and taking a huge financial loss on the chin. Give the guy a break, lads. There's others who have been far more selfish. Link to post Share on other sites More sharing options...
garth Posted July 8, 2009 Share Posted July 8, 2009 He buys the club for £134 million, wipes £90 million off the debt, then puts the club up for sale for £100 million, and he still gets accused of being in it for the money. He's admitted himself that he's made some costly mistakes, but he seems to be doing the decent thing in getting out and taking a huge financial loss on the chin. Give the guy a break, lads. There's others who have been far more selfish. Exactly!!!. Freddy Shepherd for one. Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 He buys the club for £134 million, wipes £90 million off the debt, then puts the club up for sale for £100 million, and he still gets accused of being in it for the money. He's admitted himself that he's made some costly mistakes, but he seems to be doing the decent thing in getting out and taking a huge financial loss on the chin. Give the guy a break, lads. There's others who have been far more selfish. He didn’t wipe the debt, he restructured it in such a way that the club ended up owing even more money…. most of it to Ashley. Whether the club will still owe him £100m after it’s sold remains to be seen. If you buy a business and don’t invest in the product, and treat you’re customers like shite, losing lots of money is what you deserve. Link to post Share on other sites More sharing options...
Frazzle Posted July 8, 2009 Share Posted July 8, 2009 He buys the club for £134 million, wipes £90 million off the debt, then puts the club up for sale for £100 million, and he still gets accused of being in it for the money. He's admitted himself that he's made some costly mistakes, but he seems to be doing the decent thing in getting out and taking a huge financial loss on the chin. Give the guy a break, lads. There's others who have been far more selfish. He didn’t wipe the debt, he restructured it in such a way that the club ended up owing even more money…. most of it to Ashley. Whether the club will still owe him £100m after it’s sold remains to be seen. If you buy a business and don’t invest in the product, and treat you’re customers like s****, losing lots of money is what you deserve. How did he manage that then? Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. Link to post Share on other sites More sharing options...
madras Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. so you expected him to break even straight away while inheriting a wages ratio of over 60% ? Link to post Share on other sites More sharing options...
Frazzle Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. Source? Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. so you expected him to break even straight away while inheriting a wages ratio of over 60% ? Are you saying the debt levels went down? Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. Source? Various accounts published when the club was a PLC. Lambias / Harris. Link to post Share on other sites More sharing options...
madras Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. so you expected him to break even straight away while inheriting a wages ratio of over 60% ? Are you saying the debt levels went down? where did i even hint it ? i'm asking you how, with the wages being by far the largest swallower of cash and built in with long term contracts you expect him to cut the debt straight away Link to post Share on other sites More sharing options...
ikri Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. You've conveniently ignored the additional funds he loaned the club after paying off those debts to cover our ridiculous wage bill and other outgoings. The club has been losing millions each year and wasn't close to breaking even. But don't let facts get in the way of an argument. Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 So you think the debt went down as well? Link to post Share on other sites More sharing options...
Guest fading star Posted July 8, 2009 Share Posted July 8, 2009 £75m owed to the banks turned in to £100m owed to Mike. Plus an £10m overdraft extension. so you expected him to break even straight away while inheriting a wages ratio of over 60% ? Are you saying the debt levels went down? where did i even hint it ? i'm asking you how, with the wages being by far the largest swallower of cash and built in with long term contracts you expect him to cut the debt straight away It’s implied by the context of post I was responding to, which incorrectly claimed Ashley wiped off £90m of debt. Link to post Share on other sites More sharing options...
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