Is Mike Ashley the worst person ever to have been associated with NUFC?

[oldtype]

It also sticks in the throat that we get patronised with guff like "there's no such thing as free transfers"'and "the agent fees were very expensive."

 

Are those statements false?

[AyeDubbleYoo]

I think the most pressing question is, why is the Carroll money simply the only money we have?

 

The notion of "money will be kept in the club" is all very good in theory but they should expect unrest when we're fobbed off with s**** like it being used to cover wages for the entirety of a 6 year contract or a refurbishment of the training ground.

 

Where is the rest of the club's money? Every time an expense is needed, the Carroll jar gets dipped into. The only way the AC sale being acceptable was if the money was to be spent on some top quality replacements. As fans, none of us are rubbing our hands about tales of money being set aside for contracts. It's simply one excuse after another not to spend on transfer fees.

 

Who says it is?

They said it would be reinvested in the team and i dont expect all in one go ,the normal revenue for a football club that is used for transfers normall comes from that stream ,no one has said anything about that but its the promise of the Carroll money being spent that is the main point in question .Do you think the Carroll money should cover agents fees and wages etc ?

 

I think the Carroll money, along with all our other income, should cover all our outgoings.

 

I don't think it's normal practice for clubs to only spend money they've brought through outgoing transfers on incoming ones, or to make sure that they spend every penny of those fees only on new players.

 

I know Pardew was unwise to say all of the Carroll money would be reinvested in the team, but we surely can't believe that a response like that in a pressure situation represents unshakeable NUFC policy. To hold that statement up as that just seems naive to me.

[quayside]

Mike Ashley has a reported personal wealth of £1.1bn

 

Doubt it.

 

Even if that figure is correct, most of it will be tied up in what he owns in Sports Direct, his brands like Kangol and his ownership of the club.

 

Money wise, he's hardly looking in the whoopsie ailse in ASDA, but cash would be a small part of his wealth

 

His holding in Sports Direct is worth about £1.1 billion based on the current market capitalisation. Add in the fact that he has already lifted nearly £1 billion in cash when it floated (some of which is funding us) so you'd have to think he'd be worth something like £2 billion. As you say how much of that is still in cash is open to speculation.

 

[Colos Short and Curlies]

Mike Ashley has a reported personal wealth of £1.1bn

 

Doubt it.

 

Even if that figure is correct, most of it will be tied up in what he owns in Sports Direct, his brands like Kangol and his ownership of the club.

 

Money wise, he's hardly looking in the whoopsie ailse in ASDA, but cash would be a small part of his wealth

 

His holding in Sports Direct is worth about £1.1 billion based on the current market capitalisation. Add in the fact that he has already lifted nearly £1 billion in cash when it floated (some of which is funding us) so you'd have to think he'd be worth something like £2 billion. As you say how much of that is still in cash is open to speculation.

 

 

He bought back a chunk of SD shares didn't he?

 

 

[Big Geordie]

Great piece from TF there as always. Ashley has had to put cash into the club, but that's down to his own stupidity with firstly not doing due diligence when he bought it and also making awful decisions which culminated in our relegation. Something about the financial side of the club doesn't seem right and I don't think it'll come out until the next set of accounts are due out, which won't be for some time yet.

 

The club is skating on ice and has been for a long time for the way it treats supporters. Many of my black and white amigos that I have spoken to view the regime with a great sense of mistrust. As ever though, the only way to stop this is to stop putting money in and this unfortunately is where the man knows he has many over a barrell.

[quayside]

Mike Ashley has a reported personal wealth of £1.1bn

 

Doubt it.

 

Even if that figure is correct, most of it will be tied up in what he owns in Sports Direct, his brands like Kangol and his ownership of the club.

 

Money wise, he's hardly looking in the whoopsie ailse in ASDA, but cash would be a small part of his wealth

 

His holding in Sports Direct is worth about £1.1 billion based on the current market capitalisation. Add in the fact that he has already lifted nearly £1 billion in cash when it floated (some of which is funding us) so you'd have to think he'd be worth something like £2 billion. As you say how much of that is still in cash is open to speculation.

 

 

He bought back a chunk of SD shares didn't he?

 

 

 

He did.

 

He originally floated it at £3 a share selling 50% in the process. Needless to say it hasn't reached that price level since, and his investors aren't too impressed (he has called then whingers). Then when the price went down to about £1 he bought back a further 20 to 25%.

[Colocho]

The ultimatum to pardew is he must finish in the top 10

 

Source?

[biggs]

Great piece from TF there as always. Ashley has had to put cash into the club, but that's down to his own stupidity with firstly not doing due diligence when he bought it and also making awful decisions which culminated in our relegation. Something about the financial side of the club doesn't seem right and I don't think it'll come out until the next set of accounts are due out, which won't be for some time yet.

 

The club is skating on ice and has been for a long time for the way it treats supporters. Many of my black and white amigos that I have spoken to view the regime with a great sense of mistrust. As ever though, the only way to stop this is to stop putting money in and this unfortunately is where the man knows he has many over a barrell.

Very true and no end to the cycle and i for one will be going halfs with a mate the season after next as i packed in a few years ago after 38 yrs of going regular ,its in my blood i guess and will not let it leave me .

[madras]

Great piece from TF there as always. Ashley has had to put cash into the club, but that's down to his own stupidity with firstly not doing due diligence when he bought it and also making awful decisions which culminated in our relegation. Something about the financial side of the club doesn't seem right and I don't think it'll come out until the next set of accounts are due out, which won't be for some time yet.

 

The club is skating on ice and has been for a long time for the way it treats supporters. Many of my black and white amigos that I have spoken to view the regime with a great sense of mistrust. As ever though, the only way to stop this is to stop putting money in and this unfortunately is where the man knows he has many over a barrell.

i haven't been treat any differently. also, no he didn't do due dilligence, if he had he'd have ran a mile like polygon and belgravia and theres no guarantee we'd have been better off today for that.

[Big Geordie]

Madras - if he hadn't bought the club we would be better off today, regardless of where we were. He wouldn't be in charge for starters!

[AyeDubbleYoo]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

[oldtype]

Madras - if he hadn't bought the club we would be better off today, regardless of where we were. He wouldn't be in charge for starters!

 

Oh sweet Jesus hell no. Seriously, my mind just exploded, can't stand statements like this.

[biggs]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

[AyeDubbleYoo]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

[arnonel]

Has anyone considered just for a second that they are managing expectation re: transfers?

 

Option A : We tell supporters, clubs and agents we have loads of money to spend and will be going nuts in the transfer market

Option B : We tell supporters, clubs and agents we have no money left, (but still seem to find it when players like Gameiro, Gervinho etc become available)

 

 

[madras]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

a while back there was a NOTW interview thing with dougie hall when he was still at NUFC in which he said they budgeted on spending 100mill, the paper went to town on it, as did many NUFC fans. it was only when you actually read the article that it was pointed out it also included wages,transfer fees and some ground work (there was some refurb in the east stand) and it was over 2 years. however many just started working out who we could buy with 100mill on purely transfer fees.

[Colocho]

Good article from True Faith here

Those of us who tuned in to BBC Radio Newcastle’s interview with Alan Pardew last Monday had our “card marked” about the monies the club was spending strengthening the squad this summer. Following Pardew’s radio interview, Derek Llambias, Mike Ashley’s hard to like Managing Director told us some of the money received from the Carroll deal would be kept back for January in case we needed to spend then too. This is the January transfer window, Alan Pardew tells us has little value in it. All of the monies received from Carroll would stay in the club we were er, “assured”.

Without the benefit of the club’s accounts in front of me, I can, only at best come up with some uneducated guesswork and questions but here goes:

Why is it, the Carroll money is the only money the club has its disposal for virtually everything? Why, for example, is the Carroll money used to pay for under-soil heating at the club’s training ground? Weren’t we previously told Mike Ashley was funding that himself?

 

Do you have a link for this please?

[Guest Roger Kint]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

He said it would be spent on the squad, not necessarily all on new members though. Basically just meant Ashley wouldnt be investing any more money for a while til that runs out.

[Dr Venkman]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

 

you're missing the point. spending none of it and then giving a list of excuses to the local press including a fucking water pipe is a pretty clear indication of what these lot are about, and you're still not seeing it.

[Guest Roger Kint]

Good article from True Faith here

Those of us who tuned in to BBC Radio Newcastles interview with Alan Pardew last Monday had our card marked about the monies the club was spending strengthening the squad this summer. Following Pardews radio interview, Derek Llambias, Mike Ashleys hard to like Managing Director told us some of the money received from the Carroll deal would be kept back for January in case we needed to spend then too. This is the January transfer window, Alan Pardew tells us has little value in it. All of the monies received from Carroll would stay in the club we were er, assured.

Without the benefit of the clubs accounts in front of me, I can, only at best come up with some uneducated guesswork and questions but here goes:

Why is it, the Carroll money is the only money the club has its disposal for virtually everything? Why, for example, is the Carroll money used to pay for under-soil heating at the clubs training ground? Werent we previously told Mike Ashley was funding that himself?

 

Do you have a link for this please?

 

You mean aside from the obvious answer of True Faith's website?

[AyeDubbleYoo]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

 

you're missing the point. spending none of it and then giving a list of excuses to the local press including a fucking water pipe is a pretty clear indication of what these lot are about, and you're still not seeing it.

 

How am I missing the point? You mean I'm not coming to the same conclusion as you.

[Colocho]

What makes me laugh is the thought of people having faith in Ashley when Carroll was sold.

[Dr Venkman]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

 

you're missing the point. spending none of it and then giving a list of excuses to the local press including a fucking water pipe is a pretty clear indication of what these lot are about, and you're still not seeing it.

 

How am I missing the point? You mean I'm not coming to the same conclusion as you.

 

the conclusion i'm coming to is that they haven't spent any of it, i fail to see how you'd be too far away from that?

[AyeDubbleYoo]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

 

you're missing the point. spending none of it and then giving a list of excuses to the local press including a fucking water pipe is a pretty clear indication of what these lot are about, and you're still not seeing it.

 

How am I missing the point? You mean I'm not coming to the same conclusion as you.

 

the conclusion i'm coming to is that they haven't spent any of it, i fail to see how you'd be too far away from that?

 

I don't know exactly how much they've spent, I agree it is probably quite a small proportion. But that doesn't outrage me as much as it does some people, because I never thought it would all go on transfers in the first place.

 

What concerns me is whether we are adding decent players to the squad, which I think we are.

[Colocho]

Even he was stupid not to do due diligence, that doesn't change the reality of the current situation. It's a strange argument that because he spent too much buying the club, and it cost him much more than he expected, he should therefore spend even more now.

 

Pardew said the money would be reinvested out of the Carroll sale ,he was told by Llambias and thats the crux of the current debate that that promise was made and so far very little net spend of that money.

 

I agree that "promise" was a mistake, but I think expecting that it actually meant we would spend £35m on transfer fees is taking it far too literally. It was also made in a pressure situation by a manager trying to defend a very unpopular sale.

 

you're missing the point. spending none of it and then giving a list of excuses to the local press including a fucking water pipe is a pretty clear indication of what these lot are about, and you're still not seeing it.

 

How am I missing the point? You mean I'm not coming to the same conclusion as you.

 

the conclusion i'm coming to is that they haven't spent any of it, i fail to see how you'd be too far away from that?

 

I don't know exactly how much they've spent, I agree it is probably quite a small proportion. But that doesn't outrage me as much as it does some people, because I never thought it would all go on transfers in the first place.

 

What concerns me is whether we are adding decent players to the squad, which I think we are.

 

They have "spent" around £25 million of the Carroll money.