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Mike Ashley (former owner) (still alive)


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IIRC, he had to put 135M into the club as an interest free loan when he first acquired the club.  That was to cover all the liabilities he missed when he supposedly did his due diligence.  That money he is getting back as part of the sell price.

 

He floated the club an additional 30M which was taken out of the club more recently.

iirc it wasn't so much missed in due diligence but never did it in the first place, anyone who did do due diligence before MA ran for the hills once they saw the books

 

I think people need to remember that the club was a PLC before Ashley bought us and as a consequence had to publish far more detailed accounts. The only debt Ashley had to settle immediately was the remainder of the Mortgage for the expansion, which I believe was around £60M and had 5 or 6 years left to run.

 

He started with the media crap, complaining about the fact we still owed cash on the Owen transfer etc, but as others who’d examined the accounts at the time pointed out we were owed more in outstanding transfer deals, than we owed to other clubs. Complaints by Ashley and his cronies to 5e contrary was the start of trying to lower our expectations IMHO.

 

Interesting take.

 

Not really, I thought it was well understood that the clubs debt has risen as a consequence of the relegations. The mortgage with Barclays was well known at the time, I don’t understand how the narrative has become so twisted after 12 years. I guess the adage of repeat a lie often enough and people will believe it, is true.

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IIRC, he had to put 135M into the club as an interest free loan when he first acquired the club.  That was to cover all the liabilities he missed when he supposedly did his due diligence.  That money he is getting back as part of the sell price.

 

He floated the club an additional 30M which was taken out of the club more recently.

iirc it wasn't so much missed in due diligence but never did it in the first place, anyone who did do due diligence before MA ran for the hills once they saw the books

 

I think people need to remember that the club was a PLC before Ashley bought us and as a consequence had to publish far more detailed accounts. The only debt Ashley had to settle immediately was the remainder of the Mortgage for the expansion, which I believe was around £60M and had 5 or 6 years left to run.

 

He started with the media crap, complaining about the fact we still owed cash on the Owen transfer etc, but as others who’d examined the accounts at the time pointed out we were owed more in outstanding transfer deals, than we owed to other clubs. Complaints by Ashley and his cronies to 5e contrary was the start of trying to lower our expectations IMHO.

 

Interesting take.

 

Not really, I thought it was well understood that the clubs debt has risen as a consequence of the relegations. The mortgage with Barclays was well known at the time, I don’t understand how the narrative has become so twisted after 12 years. I guess the adage of repeat a lie often enough and people will believe it, is true.

 

And that final quote describes Ashley to a T

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What is not in question is that everything has been carefully orchestrated for 12 years.

 

He lost his credibility for me when Keegan was proven right in court and Ashley and the cronies were exposed as liars.

 

Having said all of that we will never forget Mike Ashley Chris Mort Derek Llambias Dennis Wise Joe Kinnear Alan Pardew Steve McLaren Lee Charnley for as long as we each shall live and that will make us appreciate all the more that which is yet to come from this takeover.

 

It's truly like waiting for Christmas as a bairn  :D

 

Chris Mort?  Dont think he deserves to be lumped in with the rest of them cunts

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The theory I’m getting from the replies is he’s gone back on the sale of the strawberry place grounds, possibly as part of a takeover deal. However it’s most likely irrelevant

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What importance it has to do with the takeover? Please explain to me, I really don't understand.

 

Yeah I don’t get it either

 

Read the replies. They explain it in there

 

I did. Still none the wiser. I must be thick.

 

Well I wrote the reasoning that I could gather from the replies on the previous page. It’s probably nothing but their theory seems to be the strawberry place land sale was pending planning permission and the sale has been cancelled as new owner wants the land as part of the deal to expand. Tbh I think it’s nothing major myself

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What importance it has to do with the takeover? Please explain to me, I really don't understand.

 

Yeah I don’t get it either

 

Read the replies. They explain it in there

 

I did. Still none the wiser. I must be thick.

 

Well I wrote the reasoning that I could gather from the replies on the previous page. It’s probably nothing but their theory seems to be the strawberry place land sale was pending planning permission and the sale has been cancelled as new owner wants the land as part of the deal to expand. Tbh I think it’s nothing major myself

 

Not that I believe there is going to be a takeover now or ever but surely any knowledgeable buyer would be aware of the chances of getting the land behind the gallowgate sorted when its still possible rather than potentially having to splash out hundreds of millions on alternative ideas of stadium upgrade

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What importance it has to do with the takeover? Please explain to me, I really don't understand.

 

Yeah I don’t get it either

 

Read the replies. They explain it in there

 

I did. Still none the wiser. I must be thick.

 

Well I wrote the reasoning that I could gather from the replies on the previous page. It’s probably nothing but their theory seems to be the strawberry place land sale was pending planning permission and the sale has been cancelled as new owner wants the land as part of the deal to expand. Tbh I think it’s nothing major myself

 

If that's the case, it's pretty fucking major :lol: but yeah, that won't be the reason.

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I agree, we were never in danger of becoming a Leeds. If that was the case, Ashley wound have snapped us up for a £1 and taken on the debt like he does with all his other vulturesque manoeuvres.

 

Even that whole bullshit about not realising how much was owed is nonsense. It was plain as day and info easily accessible as we were a plc at that time.

 

Everything since then has been a PR war game to deflect the real reason he bought the club. Well, since it turned on him.

 

Think at the start he was genuinely loving the attention. Only so long a cunt can keep a facade going for though until everyone sees the reality.

 

I agree with all of this, but the one point that was not known was that the mortgage became payable almost immediately on a sale. This would however be clear with 5 minutes reading of the loan document so it's no excuse

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Has the sale of the land definitely been cancelled or is it just that the striking off of the company has been cancelled?

 

Just the company by the looks of it.  People just speculating as to why.

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Has the sale of the land definitely been cancelled or is it just that the striking off of the company has been cancelled?

 

Just the company by the looks of it.  People just speculating as to why.

 

:thup:

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Has the sale of the land definitely been cancelled or is it just that the striking off of the company has been cancelled?

 

Just the company. They are speculating on the reason

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Has the sale of the land definitely been cancelled or is it just that the striking off of the company has been cancelled?

 

Just the company. They are speculating on the reason

 

so the suggestion is there was another buyer going to buy the land and they'd starting proceedings to strike off the company in anticipation of the sale as it was just the vehicle for the sale, now that they've cancelled the striking off the guess is that it's because the sale will be delayed as he'll now be selling the land to BZG as part of the takeover

 

am i following that logic correctly?

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Has the sale of the land definitely been cancelled or is it just that the striking off of the company has been cancelled?

 

Just the company. They are speculating on the reason

 

so the suggestion is there was another buyer going to buy the land and they'd starting proceedings to strike off the company in anticipation of the sale as it was just the vehicle for the sale, now that they've cancelled the striking off the guess is that it's because the sale will be delayed as he'll now be selling the land to BZG as part of the takeover

 

am i following that logic correctly?

 

Yes

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