oldtype Posted September 1, 2011 Share Posted September 1, 2011 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 Is that how it's supposed to work? I don't understand how 2. would be feasible or legal. Link to post Share on other sites More sharing options...
Guest johnson293 Posted September 1, 2011 Share Posted September 1, 2011 Hmm, I always thought SJH Ltd was just the company MA set up to actually purchase the shares/club in the first place, rather than it appearing to be 'one person' buying them up? Link to post Share on other sites More sharing options...
Guest CaPiTaL cHaP Posted September 1, 2011 Share Posted September 1, 2011 Just out of interest, when do people reckon he's going to sell, if at all? I think Golfmag indicated it might in the next year or so. Link to post Share on other sites More sharing options...
themanupstairs Posted September 1, 2011 Share Posted September 1, 2011 So Mike buys the club for 138m and labels the entire cost of the purchase as "club debt". Have I gotten it right? Pretty much. Mike loans the money to SJH Ltd, who actually buy the club. Now this loan has been added onto the club's debt, to be paid back to Mike. Would make sense as to why we've not spent much. Of course the main problem with us doing this as opposed to Man Utd (who weren't very happy with the Glazers take over anyway) is that we don't have nearly as much money coming in as they do, resulting the net debt growing while the St James Holdings debt is being paid back. A lot more selling of players to come if that's the case. Yup. That's why I reckon we should just enjoy ourselves while the club is still in the top flight, and just take it season by season, and forget about building a competitive squad that can challenge for Europe anytime in the foreseeable future. Link to post Share on other sites More sharing options...
Guest north shields lad Posted September 1, 2011 Share Posted September 1, 2011 Infact this is worse than Liverpool's situation. In the end they owed a lot of debt to the banks, and the banks basically seized the club, and got someone to pay off the debt for return of the club. So Liverpools new owners made them debt free, and had control of it. In our case, he hasnt bought the club with a loan. He has basically said i will buy NUFC, for so much, he has then personally lent SJH that money. If he wanted to he could keep adding interest. If someone come in to buy the club abd pay the debt off, they are not paying the banks as in the case of Liverpool, they are paying fat mike. Theres all kinds of stuff he could do, he could make the sponshership of the ground a 30 year contract, and if anyone wanted to change it, have to buy that contract off him. Link to post Share on other sites More sharing options...
FrenchWilliam Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Link to post Share on other sites More sharing options...
Mistle17 Posted September 1, 2011 Share Posted September 1, 2011 Just out of interest, when do people reckon he's going to sell, if at all? I think Golfmag indicated it might in the next year or so. When he does, I will get absolutely mortal and dance through the streets of Newcastle and up to St.James' Park where I will proceed to jizz myself. Link to post Share on other sites More sharing options...
Guest bimpy474 Posted September 1, 2011 Share Posted September 1, 2011 Just out of interest, when do people reckon he's going to sell, if at all? His refusal to spend in the transfer market would tell you he isn't willing to chase a dream as some owners do, although i quite like the way the Finances are run now compared to when Fat Freddie was here, its too skewed in that direction, the balance between spending wisely and splashing out is wrong, imo its leaning toward him reducing the debt owed to him, so he can find a buyer easier, i feckin hope so anyway. Link to post Share on other sites More sharing options...
FrenchWilliam Posted September 1, 2011 Share Posted September 1, 2011 Also, irrespective of how it's structured, Ashley basically used 138m to buy the club, and will recoup that 138m from the club. Seems a bit sensationalist to label it an LBO or compare us to Liverpool. Link to post Share on other sites More sharing options...
Guest north shields lad Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Link to post Share on other sites More sharing options...
Tachikoma Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. The club has a net value above 0.00 you know. Link to post Share on other sites More sharing options...
FrenchWilliam Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Well, yeah, but only 12m. And so what? Link to post Share on other sites More sharing options...
Tachikoma Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Well, yeah, but only 12m. And so what? You do realise that the club has probably paid off half the debt by now? Link to post Share on other sites More sharing options...
Guest bimpy474 Posted September 1, 2011 Share Posted September 1, 2011 Infact this is worse than Liverpool's situation. In the end they owed a lot of debt to the banks, and the banks basically seized the club, and got someone to pay off the debt for return of the club. So Liverpools new owners made them debt free, and had control of it. In our case, he hasnt bought the club with a loan. He has basically said i will buy NUFC, for so much, he has then personally lent SJH that money. If he wanted to he could keep adding interest. If someone come in to buy the club abd pay the debt off, they are not paying the banks as in the case of Liverpool, they are paying fat mike. Theres all kinds of stuff he could do, he could make the sponshership of the ground a 30 year contract, and if anyone wanted to change it, have to buy that contract off him. But as was seen in the last lot of accounts, the money is interest free, i dont want thank him for that but we would be occuring massive interest payments if it wasn't his money. Link to post Share on other sites More sharing options...
toon25 Posted September 1, 2011 Share Posted September 1, 2011 Just out of interest, when do people reckon he's going to sell, if at all? I think Golfmag indicated it might in the next year or so. If there is a fucking God. I just hope they'll find people that will want to deal with them - sooner rather than later preferably. Link to post Share on other sites More sharing options...
Guest north shields lad Posted September 1, 2011 Share Posted September 1, 2011 The situation would arise in about 3 yrs, where the club has completly paid him back, and dont owe him any money. He then owns NUFC, and has never paid a penny for us. He then sells us as a club with a massive stadium, and no debt, he could possibly make 300 million profit. Maybe more Link to post Share on other sites More sharing options...
TRon Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Well, yeah, but only 12m. And so what? He won't sell it for £150m, he'll probably be looking for a lot more. Link to post Share on other sites More sharing options...
oldtype Posted September 1, 2011 Share Posted September 1, 2011 Wait, what does SJH get out of any of this if the above is true? Hasn't he basically just given Mike Ashley the club for free? Link to post Share on other sites More sharing options...
Skirge Posted September 1, 2011 Share Posted September 1, 2011 Its how Man U was bought to was it not ? Sad fact is he won't sell us for less than £300m I reckon, no one is going to pay that for us. IF this was just a way for him to make a massive profit after selling us we could end up being stuck with the cunt. Link to post Share on other sites More sharing options...
Guest Antec Posted September 1, 2011 Share Posted September 1, 2011 So Mike buys the club for 138m and labels the entire cost of the purchase as "club debt". Have I gotten it right? Pretty much. Mike loans the money to SJH Ltd, who actually buy the club. Now this loan has been added onto the club's debt, to be paid back to Mike. I think I mentioned the 250m a while back, can't remember what came of it though. I realise that's no help I think quayside talked me through it iirc, I might have a look back Hopefully you can find it. I can't unfortunately Link to post Share on other sites More sharing options...
teohgk Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Well, yeah, but only 12m. And so what? calculate again mate, he didn't spend a penny to buy the club in this scenario , he used the club's money to buy out the club, it mean he got the club free, any money earn will be his profit Link to post Share on other sites More sharing options...
alanwilliams99 Posted September 1, 2011 Share Posted September 1, 2011 Just out of interest, when do people reckon he's going to sell, if at all? I think Golfmag indicated it might in the next year or so. When he does, I will get absolutely mortal and dance through the streets of Newcastle and up to St.James' Park where I will proceed to jizz myself. Link to post Share on other sites More sharing options...
Ginola Posted September 1, 2011 Share Posted September 1, 2011 Wait, what does SJH get out of any of this if the above is true? Hasn't he basically just given Mike Ashley the club for free? SJH Ltd is a company Mike Ashley made to acquire the shares. SJH basically is Mike Ashley. Link to post Share on other sites More sharing options...
Taylor Swift Posted September 1, 2011 Share Posted September 1, 2011 Umm, no. Ashley paid SJH and Shepherd a sum of money to buy the club and assume all of its debts. His mistake was not realizing that the debt had to be paid back immediately, which is why Ashley had to lend money to the club. He has invest 200m+ into the club. That's not something that can be doubted. He's probably trying to recoup a bit of that money, but if he sells for below 200m then he'll have made a loss. Link to post Share on other sites More sharing options...
Guest bimpy474 Posted September 1, 2011 Share Posted September 1, 2011 If you're all assuming the scenario is: 1. Ashley "lends" SJH 138 million 2. SJH buys club for 138 million. Transfers debt to club. 3. Gives club to Ashley for $0.00 4. Club revenue pays down 138m debt Where does MA get any money out of it? I don't know if the club pays him a salary, but even if it's a big six figure one, it doesn't seem like ti'd justify the above carry on for that alone. Because if he sells the club for 150 million, its a profit Well, yeah, but only 12m. And so what? calculate again mate, he didn't spend a penny to buy the club in this scenario , he used the club's money to buy out the club, it mean he got the club free, any money earn will be his profit I say good let him make a profit if it means he is out of our club, if it means sooner and we are still in the premiership then brilliant. Although detestable to think of him pocketing a profit, i could take that to see us free of him. Link to post Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now