NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 No evidence he's paying himself back at all, it's pure fantasy at the moment. Oh come on, be realistic. So it hasn't happened yet. But it will. Well that's a different question. It might, but then loans are usually paid back. We're lucky we don't still owe the money to a commercial bank TBH. Well I hope it doesn't cost us, this brinkmanship of attempting to have just enough quality to prevent relegation. Last time they tried it, we ended up in the Championship. Now, seemingly, after learning nothing from the last time the roulette wheel was given a spin, we are doing exactly the same again. So do I, but stop changing the argument. We were discussing whether he's paid himself back, which he hasn't. We wont know that until the accounts are published. He may have, for all we know, or the money may be just sitting in the bank. Who knows. I know man, I was talking about in the past. If he starts repaying himself in the future then fair enough. The last financial year IS in the past. He may have paid himself back some of the loans during this last year, and the accounts have not been published yet. Unless you are privy to the daily or interim accounts, you dont know what was paid last year until the accounts are published. Link to post Share on other sites More sharing options...
HawK Posted August 24, 2011 Share Posted August 24, 2011 No evidence he's paying himself back at all, it's pure fantasy at the moment. http://www.nufcblog.co.uk/wp-content/uploads/2011/07/Accounts.jpg From the 2010 accounts I didn't know that, interesting. As everyone says, will be fascinating to see what the next accounts say. I have repeatedly pointed these out before but the blind like to be blind. Link to post Share on other sites More sharing options...
ToonTastic Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Link to post Share on other sites More sharing options...
Hudson Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Maybe true, fact still stands that Ashley is paying the debt down. Link to post Share on other sites More sharing options...
TRon Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Maybe true, fact still stands that Ashley is paying the debt down. Yep. At least we know the reason why Ashley hasn't invested more money into the squad after selling Carroll. He's taking his money back basically. Link to post Share on other sites More sharing options...
NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. I think that was the case.... but in any case it states the 16.5M loan is being repaid from the TV money, which I understand was about 40M. The Carroll money I don't just see sitting around in the bank doing nothing: I expect the 111 M to be lowered from the Carroll sale. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted August 24, 2011 Share Posted August 24, 2011 If our debt is reducing I guess it's still a good thing. If we owed the money to Barclays they could well be asking for much more aggressive repayments. Look at Everton's situation. Link to post Share on other sites More sharing options...
NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 If our debt is reducing I guess it's still a good thing. If we owed the money to Barclays they could well be asking for much more aggressive repayments. Look at Everton's situation. You know I agree with this so long as its done in a responsible manner: my concern is that there is almost a fire sale with the playing side being put in jeopardy. Thankfully, as someone pointed out on another post, there are some awful teams in the prem this year. I assume they have taken this into account and decided the gamble is worth it. I hope they are right, but the track record isnt exactly great. Link to post Share on other sites More sharing options...
Stu Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Maybe true, fact still stands that Ashley is paying the debt down. Get out of our club, Get out of our club, You fat cockney bastard, Get out of our club They did ask for it Link to post Share on other sites More sharing options...
Stu Posted August 24, 2011 Share Posted August 24, 2011 If our debt is reducing I guess it's still a good thing. If we owed the money to Barclays they could well be asking for much more aggressive repayments. Look at Everton's situation. You know I agree with this so long as its done in a responsible manner: my concern is that there is almost a fire sale with the playing side being put in jeopardy. Thankfully, as someone pointed out on another post, there are some awful teams in the prem this year. I assume they have taken this into account and decided the gamble is worth it. I hope they are right, but the track record isnt exactly great. We were told he was gambling last January too. Looks like won 1, lost 1. Link to post Share on other sites More sharing options...
Dr Venkman Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Maybe true, fact still stands that Ashley is paying the debt down. Yep. At least we know the reason why Ashley hasn't invested more money into the squad after selling Carroll. He's taking his money back basically. and the sooner the better Link to post Share on other sites More sharing options...
NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. Maybe true, fact still stands that Ashley is paying the debt down. Yep. At least we know the reason why Ashley hasn't invested more money into the squad after selling Carroll. He's taking his money back basically. and the sooner the better I assume that you mean the sooner the better because then we could be sold? Link to post Share on other sites More sharing options...
quayside Posted August 24, 2011 Share Posted August 24, 2011 No evidence he's paying himself back at all, it's pure fantasy at the moment. http://www.nufcblog.co.uk/wp-content/uploads/2011/07/Accounts.jpg From the 2010 accounts I didn't know that, interesting. As everyone says, will be fascinating to see what the next accounts say. I have repeatedly pointed these out before but the blind like to be blind. The note you and Jayson refer to merely says that certain amounts were repayable not that they were repaid. There is a huge difference. If you look a bit further you will find (on page 11 of the accounts) that Ashley had provided further funding of £7 million after 30th June. The accounts were signed on 5th January. This means that rather than taking any of his loan back he had, in fact, increased it to £147 million between 30th June 2010 and 5th January 2011. Link to post Share on other sites More sharing options...
NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 No evidence he's paying himself back at all, it's pure fantasy at the moment. http://www.nufcblog.co.uk/wp-content/uploads/2011/07/Accounts.jpg From the 2010 accounts I didn't know that, interesting. As everyone says, will be fascinating to see what the next accounts say. I have repeatedly pointed these out before but the blind like to be blind. The note you and Jayson refer to merely says that certain amounts were repayable not that they were repaid. There is a huge difference. If you look a bit further you will find (on page 11 of the accounts) that Ashley had provided further funding of £7 million after 30th June. The accounts were signed on 5th January. This means that rather than taking any of his loan back he had, in fact, increased it to £147 million between 30th June 2010 and 5th January 2011. Surely if something was repayable it had to have been re-paid unless the terms were re-negotiated? Link to post Share on other sites More sharing options...
quayside Posted August 24, 2011 Share Posted August 24, 2011 No evidence he's paying himself back at all, it's pure fantasy at the moment. http://www.nufcblog.co.uk/wp-content/uploads/2011/07/Accounts.jpg From the 2010 accounts I didn't know that, interesting. As everyone says, will be fascinating to see what the next accounts say. I have repeatedly pointed these out before but the blind like to be blind. The note you and Jayson refer to merely says that certain amounts were repayable not that they were repaid. There is a huge difference. If you look a bit further you will find (on page 11 of the accounts) that Ashley had provided further funding of £7 million after 30th June. The accounts were signed on 5th January. This means that rather than taking any of his loan back he had, in fact, increased it to £147 million between 30th June 2010 and 5th January 2011. Surely if something was repayable it had to have been re-paid unless the terms were re-negotiated? The whole of Ashley's loan is repayable on demand, he hasn't demanded it so it's not been repaid - not that the club could repay it in one hit if he did demand it. Edit: that should say the bulk of Ashley's loan not the whole. Link to post Share on other sites More sharing options...
Big Geordie Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. Link to post Share on other sites More sharing options...
BottledDog Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. You what? The club? How on earth do you work that out. Link to post Share on other sites More sharing options...
quayside Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. He knew most of it was there, he didn't know he would have to pay it off within two months. Link to post Share on other sites More sharing options...
Big Geordie Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. You what? The club? How on earth do you work that out. He will want that back at some point. The question is how and when. Link to post Share on other sites More sharing options...
Colos Short and Curlies Posted August 24, 2011 Share Posted August 24, 2011 Wasn't it simply that this money was the overdraft Ashley had to cover and so made it that it had to be repaid after one year. I think that was the case.... but in any case it states the 16.5M loan is being repaid from the TV money, which I understand was about 40M. Except it doesn't, it states it is secured on the TV money not being reapid from it. Basically if the club went pop, the loan would be repaid by the TV money, pretty much the same way a mortgage is secured on a house. Link to post Share on other sites More sharing options...
Hughesy Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. He knew most of it was there, he didn't know he would have to pay it off within two months. I still can't believe that Ashley didn't ask to see the terms of the various loans we had. It would have taken about 2 mins to check whether there was a change of control clause - which there would normally be anyway. Link to post Share on other sites More sharing options...
oldtype Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. http://profile.ak.fbcdn.net/hprofile-ak-snc4/41572_2204391556_1588_n.jpg Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. http://profile.ak.fbcdn.net/hprofile-ak-snc4/41572_2204391556_1588_n.jpg I know man, this kind of thinking is mental. As if the club wasn't in worse financial shit before he arrived. He just took over loans from much more demanding and expensive lenders. Link to post Share on other sites More sharing options...
BottledDog Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. You what? The club? How on earth do you work that out. He will want that back at some point. The question is how and when. That's fine, we owed those debts anyway, all that happened was that they suddenly had to be paid back. Now we just owe those debts to the owner without paying any further interest. Link to post Share on other sites More sharing options...
NewJerseyMag Posted August 24, 2011 Share Posted August 24, 2011 Bear in mind that £100 million of what he is owed is what he missed when he took over the club and didn't do his homework properly. A mistake of his own making and yet the club will have to pay for it. You what? The club? How on earth do you work that out. He will want that back at some point. The question is how and when. I think we are seeing that answer being played out before our eyes. Could "Some of the 111 M has been paid off" be construed as "all of the money will be staying within the club"? I guess at some point the money had to be re-paid. I just hope we don't end up in a bigger crisis, by losing more than we save. After all, that is what relegation did for us, he lost way more than he saved implementing the gamble. Link to post Share on other sites More sharing options...
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