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Mike Ashley

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Sean

Sean

Posted
Posted
  On 01/09/2017 at 08:22, Ian W said:

Rangers were lucky, they already knew what kind of person he was. We thought it was good to have a billionaire British owner :lol:

 

Yep, but we know what he's about now unfortunately.

 

Something about this Barnes cunt here:

 

 

 

Mr Barnes, has been acting on a wide number of legal matters on behalf of Sports Direct for a number of years.

 

He was one of the key people responsible for fashion shop group USC when it was put into pre-pack administration and subsequently bought back by Sports Direct debt-free.

 

 

HeraldScotland:

 

Philip Duffy of Duff and Phelps claimed at the Scottish Affairs Select Committee last year that Mr Barnes, who he said looked after all the brands in the Sports Direct group, was one of two members of a senior management team that ignored advice from the administrators Duff and Phelps to inform staff at a Scottish warehouse that they could lose their jobs.

 

MPs on the Scottish Affairs Select Committee were told by Philip Duffy of Duff and Phelps last year that he had held meeting with Mr Barnes and another executive Benjamin Gardener, at which he recommended that staff should be informed sooner rather than later.

 

USC's lack of consultation led to Dave Forsey, the Sports Direct chief executive facing criminal charges over the termination procedures, and he was accused of failing to inform the Business Secretary in advance.

 

HeraldScotland:

 

Mr Duffy (above)  told the select committee: “We arranged a meeting with the company on the morning of the 9th [of January 2015]. On the morning of the 9th, we offered to give them [Mr Gardener and Mr Barnes] draft letters of consultation, saying, ‘You should be giving these to your employees.’ “We said, ‘We can prepare draft letters.’ We weren’t advising them. We said, ‘We think that you should do a consultation. Here are some standard letters that we would use in insolvency situations.’”

 

 

Four days later 79 permanent staff and 166 agency or zero-hour contract workers their posts at Dundonald, South Ayrshire were given only 15 minutes’ notice, despite USC executives allegedly receiving draft letters in advance.

 

In April, a bid to dismiss a criminal charge against Sports Direct's chief executive following the collapse of fashion retailer USC was rejected.

 

He is accused of breaching section 194 of the Trade Union and Labour Relations (Consolidation) Act 1992 along with Robert Palmer, an administrator of USC. Both pleaded not guilty.

 

 

Sounds like he should be in prison tbh. There must be some dirt on these charlatans that'll catch up with them.

 

 

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Dave

Dave

Posted
Posted
  On 01/09/2017 at 08:30, Ian W said:

It's such a weird feeling to have something you love so much associated with such fucking awful people.

 

I guess a lot of football fans are used to this feeling now.

 

That's why he's laughing all the way to the bank; it's a captive audience.

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Begbie

Begbie

Posted
Posted

I heard on Norwegian tv that they suggested that Mike Ashley didnt want to spend money because our squad is suppose to be good enough to stay in the Premier League. They showed paralels on how he do his business normaly, that he buys companies and if they are doing bad he is trying to stabilise them and sell them on the next year with a small profit. Can it be that he is hoping to sell us next season?

 

We can only dream, I have now lost my last litle faith in this fat bastard..

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TRon

TRon

Posted
Posted
  On 01/09/2017 at 08:19, Sean said:

I think looking into what went on at Rangers might give us a better idea of what is likely going on in regards to our club.

 

Something relevant from a Telegraph Article in 2014:

 

On the day before the Somers email, it was revealed that Nash and Wallace had been targeted because they had opposed a deal which would have given Ashley the rights to Rangers’ club crest and trademark in return for emergency funding, a proposition which the pair did not believe represented sound commercial value for the club.

Ashley, meanwhile, had helped bring about another financial crisis at Ibrox, first by refusing to take part in Rangers’ equity issue in August and then by increasing his holding through a private share purchase which meant that his money would not go into the club. As The Daily Telegraph revealed on Monday, Ashley also gave up the naming rights to Ibrox stadium – notoriously acquired for £1 from the Charles Green consortium which brought Rangers out of liquidation in 2012 – but in exchange for significant commercial and advertising rights within the ground.

Another deal with Green channelled Rangers’ merchandising through Sports Direct outlets and gave Ashley even more influence over the club’s financial health.

 

I dread to think of what he'd done or going to do to us in the future. Fucking parasite.

 

 

 

We've been relegated twice and seen our brand diminished to small club level. He's been doing it for the past decade, we just didn't click on until it was too late, Rangers managed to get the blocks in before he got his claws sunk in.

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tmonkey

tmonkey

Posted
Posted
  On 01/09/2017 at 08:58, Begbie said:

I heard on Norwegian tv that they suggested that Mike Ashley didnt want to spend money because our squad is suppose to be good enough to stay in the Premier League. They showed paralels on how he do his business normaly, that he buys companies and if they are doing bad he is trying to stabilise them and sell them on the next year with a small profit. Can it be that he is hoping to sell us next season?

 

We can only dream, I have now lost my last litle faith in this fat b******..

 

Absolutely no chance he's looking to sell. He's making all sorts of money from owning NUFC is my guess - probably a bunch of Freddie Shepherd type deals we don't know about (e.g. leasing an empty warehouse from his brother for £0.5m a year). That's before we start considering NUFC being a giant Sports Direct advert for free, and all the high ranking jobs within the club he gives to his unqualified and inexperienced golfing/casino/drinking buddies.

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quayside

quayside

Posted
Posted
  On 01/09/2017 at 08:58, Begbie said:

I heard on Norwegian tv that they suggested that Mike Ashley didnt want to spend money because our squad is suppose to be good enough to stay in the Premier League. They showed paralels on how he do his business normaly, that he buys companies and if they are doing bad he is trying to stabilise them and sell them on the next year with a small profit. Can it be that he is hoping to sell us next season?

 

We can only dream, I have now lost my last litle faith in this fat b******..

I can believe anything of Ashley. A scenario whereby he will sell fits the recent events. One problem with the club going on the market as it is is that there is a debt of at least £140 million owed to Ashley in the balance sheet. That is not attractive to a potential buyer. The tactic could be to spend the bare minimum now and use any surplus cash plus the £100 million odd that comes later with the tv deal to wipe the debt. It will be a lot easier to sell with a debt free balance sheet I think. If this is the case then he is of course gambling that we will do the necessary to avoid relegation. A relegated club is worth nowhere near as much as one that is in the EPL

 

On the other hand the explanation could be any of the other theories put up on this forum....... :dontknow:

 

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Sean

Sean

Posted
Posted
  On 01/09/2017 at 09:00, TRon said:

  Quote

I think looking into what went on at Rangers might give us a better idea of what is likely going on in regards to our club.

 

Something relevant from a Telegraph Article in 2014:

 

On the day before the Somers email, it was revealed that Nash and Wallace had been targeted because they had opposed a deal which would have given Ashley the rights to Rangers’ club crest and trademark in return for emergency funding, a proposition which the pair did not believe represented sound commercial value for the club.

Ashley, meanwhile, had helped bring about another financial crisis at Ibrox, first by refusing to take part in Rangers’ equity issue in August and then by increasing his holding through a private share purchase which meant that his money would not go into the club. As The Daily Telegraph revealed on Monday, Ashley also gave up the naming rights to Ibrox stadium – notoriously acquired for £1 from the Charles Green consortium which brought Rangers out of liquidation in 2012 – but in exchange for significant commercial and advertising rights within the ground.

Another deal with Green channelled Rangers’ merchandising through Sports Direct outlets and gave Ashley even more influence over the club’s financial health.

 

I dread to think of what he'd done or going to do to us in the future. Fucking parasite.

 

 

 

We've been relegated twice and seen our brand diminished to small club level. He's been doing it for the past decade, we just didn't click on until it was too late, Rangers managed to get the blocks in before he got his claws sunk in.

 

Yep. It can and will still get a lot worse though unfortunately I feel.

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NG32

NG32

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Posted
  On 01/09/2017 at 09:33, xLiaaamx said:

Apperantly he'll take 33 million of the TV money out to cover what he lost last year. c***.

 

And that was his fault again.  :lol:

 

If he built a team that was focused on pushing for 7th and 8th every season, he would be set for guaranteed income of TV money every year without the threat of relegation and losing massive revenue streams.

 

Its such a stupid thought process.  :lol:  I'm starting to come round to the idea that this is deliberate vandalism of the club.

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Sean

Sean

Posted
Posted
  On 01/09/2017 at 09:36, Northerngimp said:

  Quote

Apperantly he'll take 33 million of the TV money out to cover what he lost last year. c***.

 

And that was his fault again.  :lol:

 

If he built a team that was focused on pushing for 7th and 8th every season, he would be set for guaranteed income of TV money every year without the threat of relegation and losing massive revenue streams.

 

Its such a stupid thought process.  :lol:  I'm starting to come round to the idea that this is deliberate vandalism of the club.

 

Its clearly deliberate. He fucking hates us.

 

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NG32

NG32

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Posted

So he'd rather have his wedge of cash back first and risk the club being relegated again  :lol:

 

He could have taken 10 million and allowed us to spend 23.  Then the season after take another 10 mil and so on and so on.  :undecided:

 

 

 

 

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Zero

Zero

Posted
Posted
  On 01/09/2017 at 09:32, quayside said:

  Quote

I heard on Norwegian tv that they suggested that Mike Ashley didnt want to spend money because our squad is suppose to be good enough to stay in the Premier League. They showed paralels on how he do his business normaly, that he buys companies and if they are doing bad he is trying to stabilise them and sell them on the next year with a small profit. Can it be that he is hoping to sell us next season?

 

We can only dream, I have now lost my last litle faith in this fat b******..

I can believe anything of Ashley. A scenario whereby he will sell fits the recent events. One problem with the club going on the market as it is is that there is a debt of at least £140 million owed to Ashley in the balance sheet. That is not attractive to a potential buyer. The tactic could be to spend the bare minimum now and use any surplus cash plus the £100 million odd that comes later with the tv deal to wipe the debt. It will be a lot easier to sell with a debt free balance sheet I think. If this is the case then he is of course gambling that we will do the necessary to avoid relegation. A relegated club is worth nowhere near as much as one that is in the EPL

 

On the other hand the explanation could be any of the other theories put up on this forum....... :dontknow:

 

Quayside, I got what you mean, but believe me people here won't tolerate this as this is what they called "Ashley take the money away from the club".

 

 

On the other hand, I think it is fair to assume that Ashley is trying his best to decorate the financial statements, as well as taking back his investment like what you said. If this is the case, we may be close to the end.  Let's pray for this.

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Zero

Zero

Posted
Posted
  On 01/09/2017 at 09:55, Northerngimp said:

So he'd rather have his wedge of cash back first and risk the club being relegated again  :lol:

 

He could have taken 10 million and allowed us to spend 23.  Then the season after take another 10 mil and so on and so on.  :undecided:

 

You can comfort yourself a bit by taking this as a desperation for selling the club and take back his investment.

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Guest neesy111

Guest neesy111

Posted
Posted

I don't understand what the issue is around the debt.  A company that has debt is worth less due to the debt you take on when you buy it.

 

He got the club for £125m which undervalued the club, so he can't complain about the debt he took on.  Also our debt this season will be under our yearly income so it's easily manageable.

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TRon

TRon

Posted
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  On 01/09/2017 at 09:52, hoppaz said:

  Quote

  Quote

  Quote

Apperantly he'll take 33 million of the TV money out to cover what he lost last year. c***.

 

Hadn't heard that.

 

Wheres this from?

 

http://www.telegraph.co.uk/football/2017/09/01/rafa-benitezs-long-term-future-serious-doubt-newcastle-fail/

 

That only says " it's feared" he'll take that money out, so it's just speculation at this point. If he does, at least that might mean he's getting ready to sell up, although I'll believe that when I see it.

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Zero

Zero

Posted
Posted

Even if there is a new owner who pay Ashley 200M for the club,  he still owe Ashley around 160M due to the debt.  So the true cost for the acquisition is 360M.

 

What Ashley has put into the club basically is his purchase price + his loan to the club.  So anyone who wants to buy the club has to match it.  No way the fat cunt will accept a loss, never.

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Sean

Sean

Posted
Posted
  On 01/09/2017 at 10:14, Zero said:

  Quote

So he'd rather have his wedge of cash back first and risk the club being relegated again  :lol:

 

He could have taken 10 million and allowed us to spend 23.  Then the season after take another 10 mil and so on and so on.  :undecided:

 

You can comfort yourself a bit by taking this as a desperation for selling the club and take back his investment.

 

It would be foolish to assume he intentions to sell the club given his repeated PR exercises pretending he wants to sell. Even if he states its for sale we shouldn't trust a word that come out of his mouth.

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