mrmojorisin75 Posted March 30, 2015 Share Posted March 30, 2015 To be fair Mojo you seemed to miss TCD's point. You're both saying the same thing. I think he's doing it on purpose to be cool. From a NUFC fans perspective - there's nothing wrong with the basics of what we think he's done with the accounts. If he was going to go on a spending spree he would do the same thing. The negativity for me is that it's an indication he's not wanting to sell. A business posting large profits with little growth screams "come and get me" to investors. Keeping it in the club is an indication he wants his own assets to have loads of cash and increase his wealth. You do yourself no favours To say there is nothing wrong is a bit of an over-simplification, context is quite important when judging Mike Ashley and NUFC. if anyone is being contrary for the sake of it it's the person wilfully ignoring the fact that he owns one of the biggest clubs in world football and is driving it into the ground while he squirrels away his money and "announces" *mediocre* profits to keep defrauding his customers Link to post Share on other sites More sharing options...
The College Dropout Posted March 30, 2015 Share Posted March 30, 2015 A second negative is that people will assume we have 18m to spend on players. Add in wages over the course of a contract, that's 1 Purple. But using "Profit" as the figure of which shows how much "cash" we have, is the real mistake in any case. Do we have the money to not be playing Janmaat at CB? yes? argument over. Of course. We probably have way more in fact. To be fair Mojo you seemed to miss TCD's point. You're both saying the same thing. I think he's doing it on purpose to be cool. From a NUFC fans perspective - there's nothing wrong with the basics of what we think he's done with the accounts. If he was going to go on a spending spree he would do the same thing. The negativity for me is that it's an indication he's not wanting to sell. A business posting large profits with little growth screams "come and get me" to investors. Keeping it in the club is an indication he wants his own assets to have loads of cash and increase his wealth. You do yourself no favours To say there is nothing wrong is a bit of an over-simplification, context is quite important when judging Mike Ashley and NUFC. Eh? There's nothing negative about creative accounting for us unless people take the 18m for the money we can spend. the more cash we have in the club is the more cash we can invest. The big worry is if cost have risen 30% but that looks impossible to me. We rarely give players contract extensions. Link to post Share on other sites More sharing options...
morpeth mag Posted March 30, 2015 Share Posted March 30, 2015 I think under Premier League FFP we are only allowed to show an increase in wages of £12m based on the rule of £4m plus increase in commercial income. I'm not sure we are allowed to alter player amortisation so the increase in costs must be coming from elsewhere. Could we have re-evaluated the capital assets downward and taken a one off hit on operating costs? Any similar scams? Link to post Share on other sites More sharing options...
Disco Posted March 30, 2015 Share Posted March 30, 2015 Probably paying Colback £18m pa or something horrific. Link to post Share on other sites More sharing options...
Beren Posted March 30, 2015 Share Posted March 30, 2015 I think under Premier League FFP we are only allowed to show an increase in wages of £12m based on the rule of £4m plus increase in commercial income. I'm not sure we are allowed to alter player amortisation so the increase in costs must be coming from elsewhere. Could we have re-evaluated the capital assets downward and taken a one off hit on operating costs? Any similar scams? Impairments on Bigi, Gouffran, etc and all other ruined players? Link to post Share on other sites More sharing options...
morpeth mag Posted March 30, 2015 Share Posted March 30, 2015 Probably paying Colback £18m pa or something horrific. Colbeck came after this accounting period. Link to post Share on other sites More sharing options...
Big Geordie Posted March 30, 2015 Share Posted March 30, 2015 I'm no expert, but something stinks here. We'll have to wait until full details are released and the real accountants among our ranks can go through it with a fine tooth comb. It does seem to be that a lot of cash seems to have disappeared - particularly when he's not paid back any of what the club owes him. He's using that loan to choke the life out of the club - which we knew already. For me, he's not going to sell any time soon. He's here for the duration. Link to post Share on other sites More sharing options...
Taylor Swift Posted March 30, 2015 Share Posted March 30, 2015 When will the full version be published? Link to post Share on other sites More sharing options...
morpeth mag Posted March 30, 2015 Share Posted March 30, 2015 Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space? Link to post Share on other sites More sharing options...
Mole_Toonfan Posted March 30, 2015 Share Posted March 30, 2015 Probably paying Colback £18m pa or something horrific. Colbeck came after this accounting period. Link to post Share on other sites More sharing options...
Matt Posted March 30, 2015 Share Posted March 30, 2015 Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space? It would probably be shot down by the minority shareholders, MA is restricted in what he can do with related party transactions when you are a plc. Link to post Share on other sites More sharing options...
Taylor Swift Posted March 30, 2015 Share Posted March 30, 2015 Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space? The decrease in value of the shares in SD would by far outweigh the positive effects on our accounts. If investors knew he was siphoning off large sums of money to NUFC from SD, SD shares would tank. It's better for him if it's the other way around. A 1% rise in SD shares nets him millions of pounds. Link to post Share on other sites More sharing options...
AyeDubbleYoo Posted March 30, 2015 Share Posted March 30, 2015 Yeah, he's not actually the only shareholder of SD, although he might want to act like it. Link to post Share on other sites More sharing options...
The College Dropout Posted March 30, 2015 Share Posted March 30, 2015 Don't understand why MA doesn't make Sports Direct pay £20m pa for advertising at SJP. On the face of it he owns 53% of SD and 100% of NUFC so would make almost £10m pa on that deal. What does he gain by offering free advertising space? I assume the SD shareholders would start crying that he's using his positions to launder cash from the company which would affect the shareprice. Doing this way helps keep the SD shareprice high, helps keep his position at SD solidified too. The market is causing our growth, we can be run on autopilot if we stay in the league. SD needs greater investment. Link to post Share on other sites More sharing options...
Guest DebuchyAndTheBeast Posted March 30, 2015 Share Posted March 30, 2015 Where are we going to get £60 million to spend next season. Link to post Share on other sites More sharing options...
loki679 Posted March 30, 2015 Share Posted March 30, 2015 I would think our accumulated losses over the years make any 'hiding' from HMRC un-necessary btw Link to post Share on other sites More sharing options...
morpeth mag Posted March 30, 2015 Share Posted March 30, 2015 I would think our accumulated losses over the years make any 'hiding' from HMRC un-necessary btw They need to be hidden from the fans and from the clubs selling players to us this summer! Link to post Share on other sites More sharing options...
maybe_next_year Posted March 30, 2015 Share Posted March 30, 2015 Bloody hell, these cunts can't even release account info without trying to pull the wool over peoples eyes. Link to post Share on other sites More sharing options...
Guest Posted March 30, 2015 Share Posted March 30, 2015 http://www.themag.co.uk/2015/03/newcastle-united-finances-leave-28-5m-unexplained/? Really need to see what these extra millions in costs are made up of.... That money is just resting in his account. Link to post Share on other sites More sharing options...
Cronky Posted March 30, 2015 Share Posted March 30, 2015 If it's any consolation to those seeking to have a go at our great leader, £18.7m profit is still a pretty hefty whack, considering our total turnover. Link to post Share on other sites More sharing options...
Zero Posted March 30, 2015 Share Posted March 30, 2015 where is quayside? Link to post Share on other sites More sharing options...
Beren Posted March 30, 2015 Share Posted March 30, 2015 where is quayside? On the banks along an area of the River Tyne. Link to post Share on other sites More sharing options...
Zero Posted March 30, 2015 Share Posted March 30, 2015 Not familiar with UK standards, but I would be surprised if player's revaluation is above the operating profits line. That means the additional cost is not due to player's revaluation nor transfer payment. As someone mentioned, training centre cost should be capital expense and should not affect the operating profit. Link to post Share on other sites More sharing options...
Zero Posted March 30, 2015 Share Posted March 30, 2015 where is quayside? On the banks along an area of the River Tyne. Link to post Share on other sites More sharing options...
GeordieT Posted March 30, 2015 Share Posted March 30, 2015 Player trading isn't even included here, is it? Is that normal? Or is that the difference between Operating Profit and After Tax Profit? Link to post Share on other sites More sharing options...
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