McCormick Posted July 10 Share Posted July 10 14 minutes ago, TRon said: I do remember even before the takeover you were skeptical that the Saudis would be that interested in buying NUFC, although feel free to correct me if I'm wrong. I understand where you're coming from, but as long as football is one of their big projects, and I include the Saudi league in that, then I think Newcastle will matter as well. Our success and failure reflects on them ultimately, at least until their own domestic football gains credibility. I don’t think I was skeptical that they were interested in buying us, I believe I was just trying to subvert expectations that we were as important a project to them than what many were thinking. I still stand by that; we’re 300m operation in a 900bn plus investment portfolio. They’ve much bigger fish to fry so to speak. Link to post Share on other sites More sharing options...
Tiresias Posted July 10 Share Posted July 10 (edited) Look PIF has a big massive pot of money from oil profits. They could either leave it in a bank account and that would be fine, or invest it in all kinds of things all over the world. This has some benefits a) Some of these ventures will be profitable and so they are no worse off at the end of the day b) With investment in places such as north east or in somewhere in Africa or south america suddenly that area has links to Saudi Arabia and Saudi Arabia has some degree of soft power beyond their borders which may come in useful wanting to strike up trade agreements later (or get a government to look away when they do something bad) c) Associates saudi arabia with global generosity and projects rather than you know human rights abuses. I don't imagine PIF particularly wants to just throw billions at us for no actual gain, they want us to be a big mega club like man city which has huge global revenue, not just a money sink. Edited July 10 by Tiresias Link to post Share on other sites More sharing options...
gdm Posted July 10 Share Posted July 10 (edited) 6 minutes ago, McCormick said: Was I? Apologies for that . I’ve just worked alongside PIF long enough to know they can sometimes make massive promises only to not deliver. I don’t know anything about how Newcastle fits in to their plans so I’m just speculating (without any real basis) like the rest of us. Yes quite relentlessly so too iirc Edited July 10 by gdm Link to post Share on other sites More sharing options...
Keegans Export Posted July 10 Share Posted July 10 1 hour ago, AyeDubbleYoo said: I don't fully understand how this works, each shareholder has to invest relative to their percentage? Couldn't they just let her off her bit if she can't afford it? As I understand it, it's about how the owners put cash into the club's coffers. If your company wants to invest in something (eg a fancy new training ground...) and the company itself doesn't have the cash, the company can create shares then "sell" them to the owner/owners who do have the cash. The company now has a chunk of cash it can spend. The side effect of this however is that every time you make new shares, the value of any existing shares decreases. This means if you aren't the one buying more shares (in this case, AS) then your shares are going to decrease in percentage terms. Link to post Share on other sites More sharing options...
Monkey Alan Posted July 10 Share Posted July 10 35 minutes ago, HawK said: Fitting tribute would be a reword of Coloccini's song... her name fits perfectly for the cadence A-man-da Staveley, Up to your neck in debt, Amanda Staveley, But not one regret, Amanda Staveley, I want to kiss Mehrdad too. Link to post Share on other sites More sharing options...
aussiemag Posted July 10 Share Posted July 10 PIF only paid £305mill for the club, while Chelsea went for £2.5 bill. It is an investment that has and will continue to grow, but also provides exposure to Saudi businesses into a western market. They will make a lot of money out of owning us. Link to post Share on other sites More sharing options...
The College Dropout Posted July 10 Share Posted July 10 Thanks Mehrdad and Amanda. Bit nervous about this. Link to post Share on other sites More sharing options...
McCormick Posted July 10 Share Posted July 10 (edited) 10 minutes ago, gdm said: Yes quite relentlessly so too iirc I don’t think I was that bad. People were talking about “why doesn’t MBS have a word” when it wasn’t going through so I was just bringing a more sensible take to the table, I guess . See my post above; I just said it wasn’t a priority and I stand by that now. Edited July 10 by McCormick Link to post Share on other sites More sharing options...
OCK Posted July 10 Share Posted July 10 What PIF we're just their yearly tax write off Link to post Share on other sites More sharing options...
OCK Posted July 10 Share Posted July 10 2 hours ago, TBG said: How Toon Flags3000, found the next motiff. Link to post Share on other sites More sharing options...
leffe186 Posted July 10 Share Posted July 10 1 hour ago, Kid Icarus said: Shak weening out the non-N-O OGs I like that there are presumably Noobs and NOOGs. Link to post Share on other sites More sharing options...
et tu brute Posted July 10 Share Posted July 10 13 minutes ago, The College Dropout said: Thanks Mehrdad and Amanda. Bit nervous about this. Why? It was always happening. To me it demonstrates that more investment is coming into the club and she just doesn't have the funds to keep up. She said at the very start of the takeover that this was likely to happen Link to post Share on other sites More sharing options...
Shak Posted July 10 Share Posted July 10 1 hour ago, Kid Icarus said: It was George Michael you absolute fraud Are we sure? He didn't look that weird Link to post Share on other sites More sharing options...
Kid Icarus Posted July 10 Share Posted July 10 1 minute ago, Shak said: Are we sure? He didn't look that weird 100% sure, it's what made Crumpy's post so needlessly shit. https://newcastle-online.org/topic/31963-george-michael-has-died/?do=findComment&comment=5541279 Link to post Share on other sites More sharing options...
OCK Posted July 10 Share Posted July 10 There was news like 6 months ago of Stevely annually decreasing her stake in Newcastle. https://www.chroniclelive.co.uk/sport/football/football-news/newcastle-united-co-owner-amanda-28494021 Quote Newcastle United co-owner Amanda Staveley has reduced her stake at St James' Park but remains one of the figureheads behind the scenes. The Ripon financier's stake has gone down from 10% to 6% since the original takeover in October 2021. The change means that the Reuben family - with Jamie Reuben the visible director at the club - has gone up to 14%. Newcastle's main benefactors remain Saudi Arabia's Public Investment Fund who have an 80% stake at St James' Park. The recent annual accounts showed that Staveley was handed £659,000 of club funds for legal fees in August last year and £600,000 in November the year before. READ MORE: Newcastle United transfer news LIVE - Almiron interest, Wilson & Trippier latest READ MORE: Bayern Munich engage in 'transfer poker' to try to land Newcastle United star Kieran Trippier Club sources stated this month that they were unable to state what the funds were for but any loans will be repaid. Cantervale, Staveley’s company, was paid £312,000 for advisory services in the year to July 2023. It was also paid £937,500 in 2022. The accounts also state: "The Group has also paid £625,000 to Cantervale Limited during the year which will be refunded subsequent to the balance sheet date." Staveley was one of the central figures during the club's Amazon documentary and was involved in board meetings, player sales and sponsorship negotiations. And that day-to-day involvement is set to continue with the director currently overseeing the club's difficult January and the downturn in Premier League form. Staveley has championed the football club at every turn and wants to see it succeed on the pitch. In the wake of the Carabao Cup final, the financier boldly predicted the Magpies would end their trophy hoodoo in the coming years. "We will win the Carabao Cup, we will win the FA Cup, we will the Champions League and we will win the Premier League. This is all about the amazing fans that have taken us on this journey, and we're just honoured and humbled and feel very privileged to help run Newcastle United," she said. Link to post Share on other sites More sharing options...
gbandit Posted July 10 Share Posted July 10 That post from Gunt really was the absolute pits Link to post Share on other sites More sharing options...
OCK Posted July 10 Share Posted July 10 Hey if it wasn't for Crumpy, half of this forum wouldn't be able to drive. Not sure if that's a good or bad thing. Link to post Share on other sites More sharing options...
The College Dropout Posted July 10 Share Posted July 10 (edited) 12 minutes ago, et tu brute said: Why? It was always happening. To me it demonstrates that more investment is coming into the club and she just doesn't have the funds to keep up. She said at the very start of the takeover that this was likely to happen They've been good stewards of the club and public/fan facing. As part of the leadership team they've been a success. Now they are leaving. That creates a gap. Now in reality they may have been hands off for some time and this is all part of the plan... but I don't know any of those things for certain. The spokesperson for the club going forward is going to be an employee like Eales or Mitchell. At least Chelsea had Marina who seemed to have a direct line to the big boss. Eales might have a direct line but I would rather someone with closer ties to the owners. We'll see. Edited July 10 by The College Dropout Link to post Share on other sites More sharing options...
JJ7 Posted July 10 Share Posted July 10 I’m not sure where the logic comes from that buying up another 6% of the club shows that the Saudis are now less interested. Link to post Share on other sites More sharing options...
Nucasol Posted July 10 Share Posted July 10 Just now, JJ7 said: I’m not sure where the logic comes from that buying up another 6% of the club shows that the Saudis are now less interested. Mackematics. Link to post Share on other sites More sharing options...
The College Dropout Posted July 10 Share Posted July 10 2 minutes ago, The College Dropout said: They've been good stewards of the club and public/fan facing. As part of the leadership team they've been a success. Now they are leaving. That creates a gap. Now in reality they may have been hands off for some time and this is all part of the plan... but I don't know any of those things for certain. The spokesperson for the club going forward is going to be an employee like Eales or Mitchell. At least Chelsea had Marina who seemed to have a direct line to the big boss. Eales might have a direct line but I would rather someone with closer ties to the owners. We'll see. And personally I don't know much about PIF. But who is the ultimate shot-caller? It might end up being Eales but I would hope not. Link to post Share on other sites More sharing options...
Ben Posted July 10 Share Posted July 10 The Chronicle are saying Jamie wanted both of them to stay on the board Link to post Share on other sites More sharing options...
et tu brute Posted July 10 Share Posted July 10 7 minutes ago, The College Dropout said: And personally I don't know much about PIF. But who is the ultimate shot-caller? It might end up being Eales but I would hope not. It will be the chairman as it always has been. If AS had the funds to match investment then she would still be here, unfortunately she doesn't and to allow for heavier investment, she needs to sell her shares. Business can be cruel sometimes. Link to post Share on other sites More sharing options...
Ben Posted July 10 Share Posted July 10 3 minutes ago, et tu brute said: It will be the chairman as it always has been. If AS had the funds to match investment then she would still be here, unfortunately she doesn't and to allow for heavier investment, she needs to sell her shares. Business can be cruel sometimes. Non executive directors ? Link to post Share on other sites More sharing options...
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