Kanj Posted January 22, 2015 Share Posted January 22, 2015 He's f***ing wealthy as f*** man. He's got money and investments all over. f*** sake Ha! Here's another one coming out with crap about Ashley being loaded. Trying to figure out of this is a serious post or not. Link to post Share on other sites More sharing options...
Hudson Posted January 22, 2015 Share Posted January 22, 2015 He's f***ing wealthy as f*** man. He's got money and investments all over. f*** sake Ha! Here's another one coming out with crap about Ashley being loaded. Trying to figure out of this is a serious post or not. Serious, Most of Ashleys wealth is on Paper via assets. Rather than paper money. Either way he's fucking minted Link to post Share on other sites More sharing options...
Guest Roger Kint Posted January 22, 2015 Share Posted January 22, 2015 Probably looking at 25m profit before transfer activity, 18m was due to be paid to ashley last season though. Wont affect the profit though nor as we were told in the Fans Fuckabout was it paid before 30 June Link to post Share on other sites More sharing options...
TaylorJ_01 Posted January 22, 2015 Share Posted January 22, 2015 Can't afford a manager or any players. I'm livid. I know we are this rich, but actually seeing the figures just makes me want to cry. Link to post Share on other sites More sharing options...
TaylorJ_01 Posted January 22, 2015 Share Posted January 22, 2015 He's f***ing wealthy as f*** man. He's got money and investments all over. f*** sake Ha! Here's another one coming out with crap about Ashley being loaded. Trying to figure out of this is a serious post or not. the guy like owns Britain. Link to post Share on other sites More sharing options...
LoveItIfWeBeatU Posted January 22, 2015 Share Posted January 22, 2015 http://www.msn.com/en-gb/money/other/mike-ashley-wields-his-iron-fist-once-more-at-usc/ar-AA8s6bX Mike Ashley wields his iron fist once more at USC The Independent - Simon Neville Most retailers, if singled out by the leader of the Opposition and held up as a symbol of poor business practice, might resolve to make some changes, or at least watch their step. But most retailers are not like Mike Ashley. The Sports Direct billionaire – denounced by Ed Miliband last year for his “Victorian” employment practices – is a busy man at the moment. He is trying to gain control of the floundering Scottish football club, Rangers. And yesterday Ashley confirmed that he had cashed in £116m-worth of Sports Direct shares, possibly to help finance that football deal. But the failure of Ashley’s fashion brand, USC, this month has thrown the spotlight back on to Ashley’s retail activities – and could end up landing him in hot water. USC announced it was going out of business on 8 January, but last Friday it was bought up by Republic, another arm of Ashley’s Sports Direct empire. This turned out to be a controversial “pre-pack” administration which, though perfectly legal, has left suppliers out of pocket and 88 staff redundant, with some of the costs to be picked up by the taxpayer. One senior politician yesterday called the behaviour a clear abuse of the insolvency rules and staff have outlined to The Independent how they believe they have been mistreated by their employer. Alastair Cook, who had worked for USC for eight years in the company’s Dundonald factory in Ayrshire before being made redundant last week, explained: “The first warning signs were on 4 January when we got some emails, saying we are doing a full warehouse stock-check. It’s not unusual, but it did raise a few eyebrows.” Five days later, at 7.30am, two senior workers from Sports Direct’s head office in Shirebrook, Derbyshire, arrived and told staff that they were to start loading up 50 Sports Direct trucks, which arrived an hour later. Mr Cook explained: “We weren’t told USC was going bust or going into administration. We made some calls to head office to ask what was happening, but no one told us anything. We knew something was up but were told to carry on loading the trucks. We were essentially digging our own graves.” On 8 January the situation turned farcical when the landlords of the warehouse, Sir Tom Hunter’s private equity group West Coast Capital, got wind of the stock being shipped out, and sent their own staff to blockade the departing trucks. By 2.30pm the trucks could not leave and the police arrived. Sir Tom was owed rent and a billionaire’s-standoff ensued which led to the power being shut off to the factory and an eight-hour negotiation. The landlord’s bill was finally settled. Before the power was cut, Mr Cook also noticed that the USC website said “© 2015 Republic.Com Retail Ltd” whereas it had previously said “© 2015 West Coast Capital (USC) Ltd”. “That suggested to us the sale was a done deal – before we had been told anything,” he said. On the trucks were thousands of products bound for stores, including those supplied by Diesel, the company USC cites as the cause of its insolvency after the fashion label demanded remuneration for unpaid stock. Mr Cook said payment delays to suppliers were becoming a regular occurrence at USC. Once the warehouse was empty, staff say they were left to sit in the canteen for eight hours a day, waiting for information. Finally, two administrators from Gallaghers arrived and handed staff a letter informing them that the company was at risk of administration and a consultation period had started. Staff say that just 15 minutes later, a second letter was handed to them, telling them the company had indeed fallen into administration. They claim no one told them that a formal notice of intention to appoint receivers was filed with the High Court a few days earlier. One member of staff, who did not want to be named, said: “Because no information was given to us, we couldn’t even make arrangements for things like benefits, as we didn’t know if we would be redeployed into stores, or paid our owed wages and redundancy.” Adrian Bailey, the Labour MP and chair of the Business Select Committee, said the USC affair demonstrated why the law covering pre-packs should be reformed. “The abuse of pre-pack is usually in the context of directors buying back a bust business themselves. This is a slightly more sophisticated approach and demonstrates contempt for the due processes that regulation is supposed to impose, and also a complete indifference to staff, suppliers and landlords left out of pocket,” he said. “You might also say if they were able to pay the landlords in order to gain access to the warehouse, why can’t they live up to their responsibility and pay the staff?” Questions remain over exactly why USC fell into administration. The company was funded primarily through a £20m revolving loan from Sports Direct and its most recent accounts say “Sports Direct International Plc has agreed not to withdraw finance for the foreseeable future.” The company also made a £1.1m pre-tax profit in its most recently filed accounts, and there are no warnings over the company’s future. So why was the funding suddenly pulled? There were no answers coming from Sports Direct last night. A spokesman said: “Sports Direct notes factual inaccuracies in these allegations but has no further comment.” He failed to elaborate on the inaccuracies, but one thing is sure: Mike Ashley has pulled off yet another display of his iron fist-like retailing behaviour. But at what cost? Pre-pack facts: The real costs Landlords can lose out because the new (old) owners can demand a rent renegotiation or threaten to leave, as all former contracts become null and void. Suppliers can be hit because bosses might renegotiate payment terms for stock already in their possession. Under administration rules, an insolvent company cannot pay its staff, so laid-off employees must claim unpaid hours and statutory redundancy from the taxpayer-financed Insolvency Service. Link to post Share on other sites More sharing options...
Heron Posted January 22, 2015 Share Posted January 22, 2015 Fuck me. Might as well have a stripey jumper and balaclava the thieving cunt Link to post Share on other sites More sharing options...
Unbelievable Posted January 22, 2015 Share Posted January 22, 2015 What a cunt. Worth 4b, but can't show common decency to his workforce or suppliers. Link to post Share on other sites More sharing options...
TaylorJ_01 Posted January 22, 2015 Share Posted January 22, 2015 Jesus, grim reading. Link to post Share on other sites More sharing options...
TaylorJ_01 Posted January 22, 2015 Share Posted January 22, 2015 Can't believe he actually tried to scarper with truckloads of stuff without paying the rent Link to post Share on other sites More sharing options...
NG32 Posted January 22, 2015 Share Posted January 22, 2015 Ive said it before, he is nothing but a common bamp who happens to have billions. Link to post Share on other sites More sharing options...
Guest thenorthumbrian Posted January 22, 2015 Share Posted January 22, 2015 Newcastle United have entered the top 20 of the world's list of richest clubs after the Money League was published by Deloitte. The Magpies scored a revenue of £129.7m in 2013/14 to climb up the table and now find themselves ahead of Everton and just behind Turkish giants Galatasaray. Newcastle's revenue has increased significantly in the last 12 months after netting around £95million a year earlier. However, the riches gained from Premier League TV money have boosted the coffers for Mike Ashley. And should Newcastle remain in the top flight next season they are only likely to bolster their place as one of the world's richest clubs. Indeed, with Apple and Google vying to join the party and set to bid for the biggest ever TV rights deal in the Premier League, owner Mike Ashley has United exactly where he wants them as far as finances are concerned. A Deloitte spokesman said: "It is with great anticipation that we wait to see what the new round of Premier League broadcast deals, expected to be agreed in 2015, will yield. With the market expectation that another significant increase will occur, it is likely that the money league will have a strongly English appearance in the coming years." http://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-officially-one-worlds-8493633 Link to post Share on other sites More sharing options...
Andymc1 Posted January 22, 2015 Share Posted January 22, 2015 He's f***ing wealthy as f*** man. He's got money and investments all over. f*** sake Ha! Here's another one coming out with crap about Ashley being loaded. Trying to figure out of this is a serious post or not. the guy like owns Britain. In no way was I being serious. Link to post Share on other sites More sharing options...
steve_69 Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Link to post Share on other sites More sharing options...
NG32 Posted January 22, 2015 Share Posted January 22, 2015 Google and apple, my word. This will be a massive deal with Sky trying to retain its hold, BT coming in strong and now these two sniffing. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Eh? We would be in the exact same place Link to post Share on other sites More sharing options...
steve_69 Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Eh? We would be in the exact same place If we had more commercial revenue coming in instead of Ashley using us as to advertise his own business for free, we'd be in the same place in the rich list? Have i missed something? Link to post Share on other sites More sharing options...
Cookie1892 Posted January 22, 2015 Share Posted January 22, 2015 As much as i hate to say it and have to laugh at his shady business practices and scarpering with stock, you have to have some brains and balls to pull it off on such a scale with actually no laws broken* Like he did with Adidas a few year back and then also tesco lately, he plays the game and wins. *circumvented... and such Link to post Share on other sites More sharing options...
TRon Posted January 22, 2015 Share Posted January 22, 2015 As much as i hate to say it and have to laugh at his shady business practices and scarpering with stock, you have to have some brains and balls to pull it off on such a scale with actually no laws broken* Like he did with Adidas a few year back and then also tesco lately, he plays the game and wins. *circumvented... and such Except he's doing the same thing with us and then it becomes less funny. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Eh? We would be in the exact same place If we had more commercial revenue coming in instead of Ashley using us as to advertise his own business for free, we'd be in the same place in the rich list? Have i missed something? Ah you meant where would we be in a pointless list of clubs turnover? I was talking about the real world where Ashley wouldnt spend the extra money so the club would be exactly where we are now. Link to post Share on other sites More sharing options...
TaylorJ_01 Posted January 22, 2015 Share Posted January 22, 2015 He's f***ing wealthy as f*** man. He's got money and investments all over. f*** sake Ha! Here's another one coming out with crap about Ashley being loaded. Trying to figure out of this is a serious post or not. the guy like owns Britain. In no way was I being serious. Aye I know was aimed at the previous folk Link to post Share on other sites More sharing options...
steve_69 Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Eh? We would be in the exact same place If we had more commercial revenue coming in instead of Ashley using us as to advertise his own business for free, we'd be in the same place in the rich list? Have i missed something? Ah you meant where would we be in a pointless list of clubs turnover? I was talking about the real world where Ashley wouldnt spend the extra money so the club would be exactly where we are now. No argument from me there. We could be top of the list and nothing would change from that side of things. However, every position we climb up that league makes us more attractive to potential buyers, especially when you consider that our commercial revenue opportunities are nowhere near being maximised. From that perspective it isn't useless. Link to post Share on other sites More sharing options...
geordiesteve710 Posted January 22, 2015 Share Posted January 22, 2015 Just think where we'd be if Ashley didn't limit the amount of commercial revenue we bring in. Eh? We would be in the exact same place If we had more commercial revenue coming in instead of Ashley using us as to advertise his own business for free, we'd be in the same place in the rich list? Have i missed something? Ah you meant where would we be in a pointless list of clubs turnover? I was talking about the real world where Ashley wouldnt spend the extra money so the club would be exactly where we are now. No argument from me there. We could be top of the list and nothing would change from that side of things. However, every position we climb up that league makes us more attractive to potential buyers, especially when you consider that our commercial revenue opportunities are nowhere near being maximised. From that perspective it isn't useless. What you're saying is probably 100% correct. My big worries for the future are a) what kind of prospective owner will be attracted by the fact the club is extremely profitable? My guess is one who wants to take as much out of the club as he can. b) it'll just mean Ashley gets to put a higher price on the club as it's proven to be a very profitable asset, albeit one which will have reached it's potential (as a profit-generator) so no nearer a new buyer unless one with ridiculously deep pockets can be found and c)as long as it's raking cash in he's not going to want to sell, so no nearer a potential new owner. In honesty, despite my pessimism, I struggle to constructively think of a hypothetical situation aside from an unfortunate contamination in the Greggs factory, which does bring us nearer to new ownership. We've tried being poor and that certainly didn't work!! Link to post Share on other sites More sharing options...
Chicane Posted January 22, 2015 Share Posted January 22, 2015 It's incredibly frustrating. The guy has a stranglehold on the club, can do whatever the f*** he likes, surround himself with yes men and there is not a thing anyone can do about it. With all this money pouring in from broadcasters he's never gonna sell up. Sickening really. Link to post Share on other sites More sharing options...
steve_69 Posted January 22, 2015 Share Posted January 22, 2015 In grim times you've got to cling on to the smallest rays of hope. Link to post Share on other sites More sharing options...
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