Kaizero Posted January 8, 2018 Share Posted January 8, 2018 If mike is buying back shares in sd then there is only one way he got the money.... ...prostitution! Link to post Share on other sites More sharing options...
HaydnNUFC Posted January 8, 2018 Share Posted January 8, 2018 If mike is buying back shares in sd then there is only one way he got the money.... Alan Barnes. Link to post Share on other sites More sharing options...
Shays Given Tim Flowers Posted January 8, 2018 Share Posted January 8, 2018 Don't think its too much of a leap of faith to infer that there is still clear water on the purchase price. Certainly would explain why it has been difficult for PCP to make any funds available for this window. PCP investing in the window would in theory increase the chances of NUFC staying up which in turn would increase the value of the club and as such increase the purchase price MA wants for the club. The uncertainty surrounding the league status makes it a tricky negotiation for both sides Link to post Share on other sites More sharing options...
Kasper Posted January 8, 2018 Share Posted January 8, 2018 If mike is buying back shares in sd then there is only one way he got the money.... My understanding is that they buy shares back all the time. Link to post Share on other sites More sharing options...
1964 Posted January 8, 2018 Share Posted January 8, 2018 If mike is buying back shares in sd then there is only one way he got the money.... But as has been said they need to do this buy back thing annually. The interesting comparison would be against last year's buy back position Link to post Share on other sites More sharing options...
Figures 1-0 Football Posted January 8, 2018 Share Posted January 8, 2018 Just been to my local Sports Direct and they’re advertising for new staff. So I asked the lady at the tills if they were advertising for new staff because they have had a recent cash windfall through an injection of £300m. The lady didn’t say anything, just winked at me. ITS ON!!!!!! Link to post Share on other sites More sharing options...
Colos Short and Curlies Posted January 8, 2018 Share Posted January 8, 2018 Just been to my local Sports Direct and they’re advertising for new staff. So I asked the lady at the tills if they were advertising for new staff because they have had a recent cash windfall through an injection of £300m. The lady didn’t say anything, just winked at me. ITS ON!!!!!! Enough about your sex life with Gladys from SD, what does it mean for the takeover? Link to post Share on other sites More sharing options...
Carlito Posted January 8, 2018 Share Posted January 8, 2018 If mike is buying back shares in sd then there is only one way he got the money.... ...prostitution! https://www.youtube.com/watch?v=wFsfTdAdN9s Link to post Share on other sites More sharing options...
Zero Posted January 8, 2018 Share Posted January 8, 2018 I think the deal is dead. Let's move on to something else. Link to post Share on other sites More sharing options...
Guest firetotheworks Posted January 8, 2018 Share Posted January 8, 2018 Move on everyone, Zero thinks the deal's dead. Link to post Share on other sites More sharing options...
persy Posted January 8, 2018 Share Posted January 8, 2018 He has Zero intention to sell Link to post Share on other sites More sharing options...
Fenham Mag Posted January 8, 2018 Share Posted January 8, 2018 Thank christ you've confirmed that Zero - I can finally get on with preparing for the Royal Wedding. Link to post Share on other sites More sharing options...
Ketsbaia Posted January 8, 2018 Share Posted January 8, 2018 Staveley - from hero to Zero Link to post Share on other sites More sharing options...
Toonjam88 Posted January 8, 2018 Share Posted January 8, 2018 Thank you Zero I can finally get on with some work instead of refreshing twitter and checking this site. It's like a weight has been lifted off my shoulders. Link to post Share on other sites More sharing options...
nufcjb Posted January 8, 2018 Share Posted January 8, 2018 fuck off Zero. i need a new keyboard as my F5 doesn't work anymore. should have told us earlier. Link to post Share on other sites More sharing options...
Wilson Posted January 8, 2018 Share Posted January 8, 2018 There you have it, zero and persy confirm everything we didn't want to hear. Goodbye cruel world. Link to post Share on other sites More sharing options...
Guest reefatoon Posted January 8, 2018 Share Posted January 8, 2018 I think the deal is dead. Let's move on to something else. Ok mate, where do you fancy going? Link to post Share on other sites More sharing options...
Teasy Posted January 8, 2018 Share Posted January 8, 2018 Don't think its too much of a leap of faith to infer that there is still clear water on the purchase price. Certainly would explain why it has been difficult for PCP to make any funds available for this window. PCP investing in the window would in theory increase the chances of NUFC staying up which in turn would increase the value of the club and as such increase the purchase price MA wants for the club. The uncertainty surrounding the league status makes it a tricky negotiation for both sides I doubt that Ashley is pitching the club as "A Premier League side that possibly might go down this season". So improving our chances of survival shouldn't change his asking price at all. Link to post Share on other sites More sharing options...
Happinesstan Posted January 8, 2018 Share Posted January 8, 2018 Don't think its too much of a leap of faith to infer that there is still clear water on the purchase price. Certainly would explain why it has been difficult for PCP to make any funds available for this window. PCP investing in the window would in theory increase the chances of NUFC staying up which in turn would increase the value of the club and as such increase the purchase price MA wants for the club. The uncertainty surrounding the league status makes it a tricky negotiation for both sides I doubt that Ashley is pitching the club as "A Premier League side that possibly might go down this season". So improving our chances of survival shouldn't change his asking price at all. Good point. But once this financial year ends he'll likely have an extra £100million on the books. Link to post Share on other sites More sharing options...
Teasy Posted January 8, 2018 Share Posted January 8, 2018 We were getting parachute payments in the Championship so the increase won't be that much. Revenue will certainly be up significantly though, then again the wage bill will also have increased (surely players will have had wage increases in their contracts). Also if you sell a club on the basis its in the Premier League you can't then increase your asking price when you get the inevitable payment from being in that league. Well I mean logically, obviously Ashley logic may be different. Link to post Share on other sites More sharing options...
Unbelievable Posted January 8, 2018 Share Posted January 8, 2018 Ashley can do whatever the fuck he wants in terms of his asking price until a deal is agreed, and he probably will if the new overseas TV deal comes in higher than expected and/or the club is guaranteed another year in the PL. I loathe the man, but not sure I could even begrudge him doing it. Whilst it’s true that Amanda’s due dilligence may have given her a good indication of the club’s “fair value”, it doesn’t necessarily mean it’s what the club is worth to Ashley, or what it’s worth irrespective of uncertainty surrounding future revenue. If Amanda and her investors are serious about this takeover they better trash out a deal while talks are still ongoing based on the same premise as when they started, or I can see them getting frustrated at moving goal posts before long. Time is very much of the essence here I’m afraid and if this January window shows us anything it’s that Ashley is once again more than happy twiddle his thumbs and gamble on the club’s future rather than going out to secure its future and get this sale done and dusted. Link to post Share on other sites More sharing options...
Charlies Posted January 8, 2018 Share Posted January 8, 2018 Tom Benbow: The meaning behind the Sports Direct filing: Why the Newcastle United takeover is imminent January 08, 2018 While searching for developments on the Newcastle United takeover earlier, I discovered that the contents of Sports Direct’s ‘authority to buy back shares’ filing had been released. This surprised me, as the previous two filings on this authority aren't available to the public. I decided to analyse the contents, and revaluate the speculative conclusions I reached in ‘Sports Direct Ltd: The Next Chapter in the Newcastle United Takeover?’. In that article, I analysed why Mike Ashley might want to repurchase Sports Direct shares, why Sports Direct need an injection of cash to do so, and how this relates to the Newcastle United takeover. If you haven’t read that article already, I’d highly recommend you do so for additional context. The Law on Share buyback (if you read my previous article, skip this!): Yearly, share buy backs are capped at £15k or 5% of a company’s value, whichever is lowest. In the case of Sports Direct, this will be 15k worth of shares per year. This cap can only be increased if the majority of shareholders vote to do so, followed by a filing at Companies House. If released, the filing will state how many shares the company have allowed themselves to buyback, and thus how much they are planning to invest in their own shares in the near future. The contents of the filing: This filing contains numerous ‘resolutions’, which each increase Sports Direct’s cap on share buyback. I will go through the resolutions one by one, explaining how many shares each resolution have allowed Sports Direct to buy back, followed by the implications this has for Newcastle United. Resolution 9 allows for the purchase of up to £17.6 million in Sports Direct shares. Resolution 10 allows for the purchase of up to 35.3 million in Sports Direct shares, on top of that permitted by Resolution 9. Resolution 11 allows for the company to purchase up to £2.6 million in ‘equity securities’ in accordance with s560 of the Companies Act 2006, which defines equity securities as 'ordinary shares'. Finally, Resolution 13 allows for Sports Direct to purchase up to 79.4 million shares in the company, on top of the cash sums permitted in Resolutions 9, 10, & 11. At today’s Sports Direct share value, Resolution 13 allows for the purchase of £297.7 million worth of Sports Direct shares. So, in total, the filing permits Sports Direct to buyback around £350 million of its own shares. What does this mean for Newcastle United? The theory I put forth in ‘Sports Direct Ltd: The Next Chapter in the Newcastle United Takeover?’, was that Mike Ashley was going to sell Newcastle United, then use the proceeds to invest in Sports Direct shares. However, I had initial doubts regarding this theory, as the precise amount of shares permitted for buyback under this filing weren’t available to the public. Therefore, the cap could’ve been lifted for an ‘employee share scheme’, or for the reinvestment of funds generated by a Debenhams share sale, rather than a Newcastle United sale. However, £350 million is far too much for an employee share scheme. Secondly, Mike Ashley’s Debenhams stock is only worth around £40 million. The cap would’ve only been lifted by £40 million if it were for the investment of funds generated by a Debenhams sale. The contents of this filing confirm my belief the Newcastle Takeover is going ahead. Mike Ashley will use £350 million generated through the sale of Newcastle United to reinvest in Sports Direct shares. This is why he established the legal structure to allow himself to repurchase £350 million of Sports Direct stock last Thursday. He wouldn’t have raised the cap if he wasn’t planning to use it. The amount he has raised the cap by is too aligned with the value of Newcastle United football club to be a coincidence. In conclusion, the contents of the filing released today has confirmed my initial theory that the Newcastle United takeover is going ahead. I believe the price will be around £350 million pounds. Link to post Share on other sites More sharing options...
SuperFlat Posted January 8, 2018 Share Posted January 8, 2018 Someone needs to be having a word with that lad. Link to post Share on other sites More sharing options...
thomas Posted January 8, 2018 Share Posted January 8, 2018 Doing a disservice to Toms everywhere. Link to post Share on other sites More sharing options...
Darth Crooks Posted January 8, 2018 Share Posted January 8, 2018 Someone needs to be having a word with that lad. Stop would be my nomination Link to post Share on other sites More sharing options...
Recommended Posts