Finances 09/10 - 'Our vision for the club is to finish 10th or above every year'

[quayside]

Should we be concerned that the extra £13m Ashley has loaned the club in advance of players being sold might be repaid from the £35m received for Carroll?

 

No 

 

The club assigned existing debts to Ashley, the Carroll debt was not existing at 30th April 2010.

[ToonTastic]

haha that's gold

 

You know my real name, and I'm sure you're bright enough to type my name and Twitter into Google.

 

By the way, Colocho means curly haired in Central/South America.

 

I might be bright enough but I'm definitely not sad enough

 

Yeah, I'm sure you just stumbled across my account amongst the thousands of Newcastle supporters on Twitter. 

 

I don't use twitter but had a quick gander and "KTD89" seems like a right numpty

 

 

I typed in www.twitter.com

search "nufc"; the post I quoted was the first one that hinted at anyone trying to have 'insider knowledge' (as per TT's post, which sparked the initial peek)

 

 

Sorry didn't mean to start anything off

[Colocho]

haha that's gold

 

You know my real name, and I'm sure you're bright enough to type my name and Twitter into Google.

 

By the way, Colocho means curly haired in Central/South America.

 

I might be bright enough but I'm definitely not sad enough

 

Yeah, I'm sure you just stumbled across my account amongst the thousands of Newcastle supporters on Twitter.  

 

I don't use twitter but had a quick gander and "KTD89" seems like a right numpty

 

 

I typed in www.twitter.com

search "nufc"; the post I quoted was the first one that hinted at anyone trying to have 'insider knowledge' (as per TT's post, which sparked the initial peek)

 

 

You scrolled down a very long way. Glad you found me, gives you another medium for your stalking.

[Guest Roger Kint]

3 hours ago when he posted it there were less than 20 posts in that search before yours. Took me less than 10 seconds to see it and i dont even use twitter myself. Still if you want to imagine thats scrolling a very long way..........

[80]

That land with Science City being built will go further up in value and it's a prime location.

 

I think he bought the existing building...its currently being worked on now.

 

This is being turned into a hotel but has nowt to do with NUFC iirc.

 

So Ashley will build another hotel right next to an existing one ?

 

Seems daft.

 

If we increase the number of 4*/5* bedrooms within an x-mile radius of the stadium, doesn't that make us eligible to host a major final?

 

[/blueskythinking]

 

Pan-European exposure for SportsDirect

[ToonTastic]

I assume the mirror got this story http://www.mirrorfootball.co.uk/news/Newcastle-owner-Mike-Ashley-has-succeeded-in-slashing-the-club-s-wage-bill-by-21m-article717494.html from the same document and the accounts aren't actually available yet?

[James]

that's odd, there's not been any planning applications lodged for redevelopment.

 

For a development that size that is not unusual. Applicants are generally encouraged to consult the key planning stakeholders and get their approval where possible before formally submitting an application. Chances are the the City Council, the Environment Agency and so on all know about it but are bound by confidentiality.

[Guest Roger Kint]

I assume the mirror got this story http://www.mirrorfootball.co.uk/news/Newcastle-owner-Mike-Ashley-has-succeeded-in-slashing-the-club-s-wage-bill-by-21m-article717494.html from the same document and the accounts aren't actually available yet?

 

The article points to Thursday as when the club will submit the accounts so they may have been fed a little bit of positive info i guess(not the first time). Alternatively its all guesswork based on who left that summer and the fact the deadline for filing the accounts is Friday.....

[JH]

Accounts due to be released next week will reveal that Newcastle have reduced their debts to about £17m as they bounce back from relegation.

 

Their debts are now one of the lowest in the Premier League.

[Dave]

                                                                                         

[BeloEmre]

Accounts due to be released next week will reveal that Newcastle have reduced their debts to about £17m as they bounce back from relegation.

 

Their debts are now one of the lowest in the Premier League.

So now we only have a big debt to Mike Ashley?

[Colocho]

“We release our figures on Wednesday from the Championship year which I am hoping will read well and obviously with the sale of Andy Carroll we are starting to redress some of the big financial problems that there were here,” Pardew said.

 

http://www.telegraph.co.uk/sport/football/teams/newcastle-united/8413324/Newcastle-set-to-announce-debts-reduction-says-manager-Alan-Pardew.html

[Punk77]

“

http://www.telegraph.co.uk/sport/football/teams/newcastle-united/8413324/Newcastle-set-to-announce-debts-reduction-says-manager-Alan-Pardew.html

 

From that article :

 

Newcastle manager Alan Pardew has claimed that club owner Mike Ashley has tackled “big financial problems” at St James’ Park as his employers prepared to announce accounts that will show a reduction in its debts to approximately £17 million.

 

 

Newcastle seem to be heading back towards profitability due to Ashley’s efforts to steer the club out of the red – it was £100 million in debt when he bought the club in 2007 – with his own money and austere financial management that has seen the wage bill slashed and costs cut.

 

He's managed to reduce the debt from 100 to 17. If it's true I'm very impressed.. That should put us in a really good position, especially when we consider that our closest rivals (Villa, Everton) are struggling..

[Dave]

Really good position for what?

[Colocho]

Concerns me that Pardew's quote there is almost suggesting we've used the Carroll money to pay off some of the club's debt?

[madras]

i wonder where that 17mill debt is owed ?

[JH]

i wonder where that 17mill debt is owed ?

 

Overdraft perhaps? Or did we get rid of that?

[madras]

Concerns me that Pardew's quote there is almost suggesting we've used the Carroll money to pay off some of the club's debt?

it's not right to look at it like that, as if money coming in from transfers has to be spent on this or that, all monies in go into one pot, from that some will go on fees, some on debts (probably) some on players etc. however they will also budget on probable incomings to gauge how much they can spend in the next year.

 

if we were to go down would we spend all the carroll money ? highly unlikely as it would go to cover other drops in income.

 

if we stay up will we spend it ? more likely due to higher projected incomings.

[Guest Roger Kint]

Concerns me that Pardew's quote there is almost suggesting we've used the Carroll money to pay off some of the club's debt?

 

If someone pays you £35m that money has to go into the bank, not like Ashley will pop the cheque in his desk drawer until 1st June. Obviously as a result it reduces any debts held at that time. Doesnt mean that money cant be spent later though.

[Punk77]

Really good position for what?

 

Better economy = better players can be brought in.

[Colos Short and Curlies]

Concerns me that Pardew's quote there is almost suggesting we've used the Carroll money to pay off some of the club's debt?

 

If someone pays you £35m that money has to go into the bank, not like Ashley will pop the cheque in his desk drawer until 1st June. Obviously as a result it reduces any debts held at that time. Doesnt mean that money cant be spent later though.

 

And also assuming the £17m is as of the date of these accounts, the Carroll sale hadn't happened yet

[Guest Roger Kint]

Concerns me that Pardew's quote there is almost suggesting we've used the Carroll money to pay off some of the club's debt?

 

If someone pays you £35m that money has to go into the bank, not like Ashley will pop the cheque in his desk drawer until 1st June. Obviously as a result it reduces any debts held at that time. Doesnt mean that money cant be spent later though.

 

And also assuming the £17m is as of the date of these accounts, the Carroll sale hadn't happened yet

 

Unless the £17m is a note on the accounts in respect of the current debts? Like you sy the sale would directly affect the accounts in question.

[Wallace]

 

But if Ashley has had to keep loaning his own money to NUFC to keep it going as has been reported, isn't a huge reduction in the debt misleading because we just owe him more money instead?

 

 

[madras]

 

But if Ashley has had to keep loaning his own money to NUFC to keep it going as has been reported, isn't a huge reduction in the debt misleading because we just owe him more money instead?

 

 

yes and no. when he comes to sell the price will be based on lots of things. if he aims to make a profit then he'll have to ask for about 200million minimum or he may sell just to cut his losses.

[Stu]

 

But if Ashley has had to keep loaning his own money to NUFC to keep it going as has been reported, isn't a huge reduction in the debt misleading because we just owe him more money instead?

 

 

 

Ashley had been loaning the club additional funds to keep it going and afloat, but it does appear as though (from the brief quotes) that the club has managed to reduce it's own debts (to any 3p) dramatically.

 

In which case even if it only means those who champion the "borrow to spend to compete" argument () have greater lines of credit on which the new owners can draw upon