r0cafella Posted Thursday at 09:20 Share Posted Thursday at 09:20 Just now, 500bhp said: The Athletic article by Chirs Waugh, I think. 10 points deduction if we didn't raise the funds, 48 hours to do it, serious concerns we might not do it. That type of thing. It was covered in the other thread. We did raise the funds by selling two players who are quite trivial to us at this stage. Also, the counter point is who wouldn’t you have bought to cover the shortfall? You can’t have it both ways. Link to post Share on other sites More sharing options...
KetsbaiaIsBald Posted Thursday at 09:24 Share Posted Thursday at 09:24 10 minutes ago, 500bhp said: Someone had to pay for the PSR fuck up last week. Hope it's wasn't Wor Mandy. The club not knowing on the morning of the 29th whether or not it could make the necessary sales is very bad management, putting it mildly. I'm sure that didn't go down well in SA. I don't see how it could be this. Even if there was a fall out from that they could not force them to sell up over it. Link to post Share on other sites More sharing options...
rutland Posted Thursday at 09:31 Share Posted Thursday at 09:31 18 hours ago, loki679 said: The timing could be a sign we're about to make some large investments err doubt it. But booked marked anyway. Link to post Share on other sites More sharing options...
80 Posted Thursday at 09:31 Share Posted Thursday at 09:31 14 minutes ago, 500bhp said: Someone had to pay for the PSR fuck up last week. Hope it's wasn't Wor Mandy. The club not knowing on the morning of the 29th whether or not it could make the necessary sales is very bad management, putting it mildly. I'm sure that didn't go down well in SA. You could be right, but I don't think it's right to assume the PSR situation was seen as a disgrace internally. I think it was a product of taking calculated risks, which nearly/sort of didn't come off, but if all the stakeholders were aware of those risks and signed off on them going into it, then there wouldn't be any need for recriminations, if they're being mature. Speculate to accumulate will pick you up some bruises along the way. Link to post Share on other sites More sharing options...
500bhp Posted Thursday at 09:35 Share Posted Thursday at 09:35 10 minutes ago, r0cafella said: We did raise the funds by selling two players who are quite trivial to us at this stage. Also, the counter point is who wouldn’t you have bought to cover the shortfall? You can’t have it both ways. The club will have known from September 2023 onwards there was a PSR deficit. The actual amount will have been clearer from December 2023 once we were out of Europe. And again in February 2024 after the winter transfer window closed. Raising the required funds on the day or the deadline is very risky. Maybe beyond the risk appetite of PIF, who knows. It's old news now and I hope this is not linked to Amanda leaving. I'm sure it's not. Link to post Share on other sites More sharing options...
The College Dropout Posted Thursday at 09:37 Share Posted Thursday at 09:37 I assume it's a bit of everything. Amanda needs the money. Amanda was always going to transition out. The club needs the investment for infrastructure. We didn't achieve our playing goals this season for the men's team (I don't think we budgeted for being out of Europe in 2024 AND not qualifying for Europe in 24/25). PSR & transfers situation. "Thanks Amanda for getting us here." Link to post Share on other sites More sharing options...
et tu brute Posted Thursday at 09:47 Share Posted Thursday at 09:47 15 minutes ago, rutland said: err doubt it. But booked marked anyway. Here's the mackem boy Link to post Share on other sites More sharing options...
RobsonsWonderland Posted Thursday at 10:12 Share Posted Thursday at 10:12 31 minutes ago, The College Dropout said: I assume it's a bit of everything. Amanda needs the money. Amanda was always going to transition out. The club needs the investment for infrastructure. We didn't achieve our playing goals this season for the men's team (I don't think we budgeted for being out of Europe in 2024 AND not qualifying for Europe in 24/25). PSR & transfers situation. "Thanks Amanda for getting us here." I'm sure the Amazon documentary showed a part where the budget guy stated new entrants into the champions league see a dip in league performance the following year. I'm sure they would have hoped for Europe but catered for the worst Link to post Share on other sites More sharing options...
Jackie Broon Posted Thursday at 10:22 Share Posted Thursday at 10:22 I just find it a bit strange that there has been nothing from them or the club on this yet, maybe it leaking has caught them unprepared, but you would have thought they would come out with a statement of some sort. Link to post Share on other sites More sharing options...
jackyboy Posted Thursday at 10:31 Share Posted Thursday at 10:31 I'm sure that there were a few calculated risks taken, starting from buying the club when in a perilous position. Any players you buy are a big risk and so it goes on. Regardless of all of this Amanda and her team have done incredibly well and I can't see them being moved because PIF aren't happy with their performance. I can't help thinking that the court case with the Greek guy could have pushed Amanda into a corner but I'm sure all will be relieved. Regardless, I will be eternally grateful for what they've done here Link to post Share on other sites More sharing options...
Eveready Posted Thursday at 10:49 Share Posted Thursday at 10:49 Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. PCP's latest accounts from Companies House (to Jan-22, they've extended their accounting period and no filings since) show that NUFC looks to be the only investment in their portfolio. Simplifying their balance sheet it looks something like this: She simply doesn't have the capital to pay off RB to even secure the previous 6% stake she had in the club previously. With significant infrastructure investment likely on the horizon, the club valuation would be unlikely to increase at the same rate as investment until the completion of the infrastructure into a useable asset. This means that the interest on the loan would likely increase faster than than the increase in the valuation of the club (especially as her shares dilute) and would likely be underwater in the investment putting her in a very precarious financial position. Link to post Share on other sites More sharing options...
Colos Short and Curlies Posted Thursday at 10:54 Share Posted Thursday at 10:54 4 minutes ago, Eveready said: Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. PCP's latest accounts from Companies House (to Jan-22, they've extended their accounting period and no filings since) show that NUFC looks to be the only investment in their portfolio. Simplifying their balance sheet it looks something like this: She simply doesn't have the capital to pay off RB to even secure the previous 6% stake she had in the club previously. With significant infrastructure investment likely on the horizon, the club valuation would be unlikely to increase at the same rate as investment until the completion of the infrastructure into a useable asset. This means that the interest on the loan would likely increase faster than than the increase in the valuation of the club (especially as her shares dilute) and would likely be underwater in the investment putting her in a very precarious financial position. And despite all the speculation here this is the single most likely reason Link to post Share on other sites More sharing options...
The College Dropout Posted Thursday at 11:26 Share Posted Thursday at 11:26 1 hour ago, RobsonsWonderland said: I'm sure the Amazon documentary showed a part where the budget guy stated new entrants into the champions league see a dip in league performance the following year. I'm sure they would have hoped for Europe but catered for the worst Eales said the aim was any European comp in Jan/Feb. That didn't seem aspirational. Considering the flurry of transfer activity in Jan and June - I don't think we had long catered for the worst with PSR for this season. Europe impacts this seasons PSR. I don't think that would be the primary reason anyway. But a contributory factor. Link to post Share on other sites More sharing options...
Dr Venkman Posted Thursday at 11:27 Share Posted Thursday at 11:27 12 hours ago, Danh1 said: I don’t think Howe has anything to be concerned about. IIRC he was the one Al-Rumayyan wanted but the others opted for Emery. Also, he’s exceptionally good at his job. Link to post Share on other sites More sharing options...
timeEd32 Posted Thursday at 11:41 Share Posted Thursday at 11:41 14 minutes ago, The College Dropout said: Eales said the aim was any European comp in Jan/Feb. That didn't seem aspirational. Considering the flurry of transfer activity in Jan and June - I don't think we had long catered for the worst with PSR for this season. Europe impacts this seasons PSR. I don't think that would be the primary reason anyway. But a contributory factor. Qualifying for Europe wouldn’t have improved our 2023/24 accounts. It may have made things slightly worse if it had triggered some end of season bonuses. Link to post Share on other sites More sharing options...
The College Dropout Posted Thursday at 12:27 Share Posted Thursday at 12:27 43 minutes ago, timeEd32 said: Qualifying for Europe wouldn’t have improved our 2023/24 accounts. It may have made things slightly worse if it had triggered some end of season bonuses. I was trying to say that point at the end there. Europe impacts 24/25. It's no coincidence Eales started talking about trading once we were out of the CL last season. Our summer activity would've predicated a longer European run that season imo. Link to post Share on other sites More sharing options...
rutland Posted Thursday at 13:21 Share Posted Thursday at 13:21 3 hours ago, et tu brute said: Here's the mackem boy Just from the thread. Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. Link to post Share on other sites More sharing options...
timeEd32 Posted Thursday at 13:22 Share Posted Thursday at 13:22 53 minutes ago, The College Dropout said: I was trying to say that point at the end there. Europe impacts 24/25. It's no coincidence Eales started talking about trading once we were out of the CL last season. Our summer activity would've predicated a longer European run that season imo. We got very unlucky with our group, but that was always possible being in pot 4. It’s a huge mistake if any of our summer business was based on reaching the knockout rounds, but I don’t know what to think anymore without more details from the accounts. Link to post Share on other sites More sharing options...
gdm Posted Thursday at 13:25 Share Posted Thursday at 13:25 3 minutes ago, rutland said: Just from the thread. Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. They sold their shares to PIF. One of the richest people in football. How are you spinning that in to a bad thing? Link to post Share on other sites More sharing options...
et tu brute Posted Thursday at 13:26 Share Posted Thursday at 13:26 3 minutes ago, rutland said: Just from the thread. Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. Go and join your fellow inbreds on RTG. Plenty on there with your mentality Link to post Share on other sites More sharing options...
et tu brute Posted Thursday at 13:27 Share Posted Thursday at 13:27 1 minute ago, gdm said: They sold their shares to PIF. One of the richest people in football. How are you spinning that in to a bad thing? Typical mackem intellect Link to post Share on other sites More sharing options...
gdm Posted Thursday at 13:29 Share Posted Thursday at 13:29 1 minute ago, et tu brute said: Typical mackem intellect Certainly someone that has no clue what they are talking about. Quite amusing Link to post Share on other sites More sharing options...
NE27 Posted Thursday at 13:41 Share Posted Thursday at 13:41 10 minutes ago, gdm said: Certainly someone that has no clue what they are talking about. Quite amusing Probably that bullshitter old bloke from rtg who gets everything spectacularly wrong, yet they all hang off his every word Link to post Share on other sites More sharing options...
Dancing Brave Posted Thursday at 14:03 Share Posted Thursday at 14:03 41 minutes ago, rutland said: Just from the thread. Never mind not having the money to invest further, PCP don't have the money to keep the 6% they had. Not as funny as your last attempt at a wind up. Link to post Share on other sites More sharing options...
Nucasol Posted Thursday at 14:10 Share Posted Thursday at 14:10 28 minutes ago, NE27 said: Probably that bullshitter old bloke from rtg who gets everything spectacularly wrong, yet they all hang off his every word Rapey Exile? Link to post Share on other sites More sharing options...
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