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Still not worthy of a thread

Yorkie

by Yorkie
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Wullie

Wullie

Posted
Posted

David Conn's reasoning on Football Weekly for Man City being given such a severe penalty is really useful, basically saying that if an FFP breach is like a speeding offence, for which you get a fine and a few points, City have been found guilty of saying their wife was driving which is much more serious and carries prison time.

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TRon

TRon

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Posted

We spent more than any other club during the 1990s fwiw (£109.8m)

 

 

So that’s 10m a year, what was our turnover every year? NUFC’s spending was sustainable either way and in accordance with the right way, means and most common, proper and recognised ways to run a business. Financed through the business’ actual real ability to generate revenue and profitability and not bankrolled by shady means, oligarchs, sovereign states or illegal/or against the rules type stuff.

 

Comparing the NUFC then to Man City today is ridiculous. Regardless of how much more than anyone else we spent because we spent within our means or within the means that we’re in accordance with proper business rules, law, regulations and whatever and indeed the sport’s.

 

Every penny the club spent was paid back through the business because the business was able to do that as a business.

 

The common myth at the time or rather preconception was that we were bankrolled by some rich millionaire owner in SJH but that couldn’t have been further from the truth. The club could afford to pay a world-record fee for Alan Shearer because commercially we could finance the deal, pay back that and any interest and actually profit commercially from such a deal.

 

At the time the likes of S&N for example would have given the club an interest free loan to do that deal up front just to be synonymous/associated as a brand with the brand that was NUFC and of course Shearer, the golden boy of English football and the national team.

 

When SJH took full control, his entire investment was in shares only, the club were 6m in debt and paid that debt off itself. It went from 6m in debt turning over 2m to debt free, turning over 46m and in profit, all in 5 years. Only one club turned over more and only by a few million and that was Man Utd, a PLC, with a larger capacity, bigger fanbase, larger global fanbase.

 

Going public made the likes of SJH wealthy and meant the club due to its then smaller capacity, it’s smaller fanbase, it’s smaller global brand and it’s smaller pool of investor wealth to dip into, become more and more dependent on finance and loans from those people, banks and sponsors to finance spending to just keep up which meant more money going out of the club to others than it could put back in.

 

Before the PLC that never happened and there was no limit to what the club could bring in, spend, finance and grow to. That’s because the club could sell anything and make money out of whatever it put its name to, magazines, pencil cases, wallpaper, kits, corporate boxes, you name it and people would buy it and that money was the club’s no-one else’s.

 

To spend, be it on stars like Shearer, ground improvements or being able to guarantee say an S&N stumping up huge money up front what was effectively for exclusive ad space the club could pay keep paying them until they got their money back at an interest or not. And that’s what happened.

 

That 6m debt was owed to Barclays and various other 3rd parties, namely local contractors. SJH acted as guarantor for the debt which he negotiated at zero interest and was paid back in year one over 12 months.

 

Because of the huge increase in revenues, Barclays gave the club a credit line of 20m originally which gave the club the ability to spend millions without having millions in the back that was theirs to spend in real money.

 

Anyone who knows how a business line of credit works knows that this money doesn’t really exist. When NUFC transfer 15m to Blackburn for Shearer, it doesn’t come out of their own pockets which means they then have 15m less. It doesn’t come out of Barclay’s vaults either. It comes out of the credit line which magically, as long as interest gets paid, doesn’t drop to 5m, it stays the same.

 

Only if that money was physically withdrawn in notes would it change, but why would a business do that? Why pay cold hard cash out unless to yourself?

 

And that’s where Ashley has been robbing NUFC, because when you’re a billionaire like him banks give you the same kind of credit line but a personal line of credit so he can pay for a yacht without having to do so with his own cash, because in reality he doesn’t have that kind of cash and if he did and actually paid for something with his own cash, his pile would be minus that money.

 

When he bought NUFC he did pay off some ‘debt’, but instead of doing it with the club’s then own line of credit or his actual own cash, he did it through his own personal line of credit, which would become the club’s too, ditching whatever line of credit they had with Barclays or whoever. So when he lets the club dip into his credit line for say 34m to pay off some debt, he can use the club’s money to pay it off and claim he’s given the club that money as an interest free loan.

 

Money he pays an interest/or fee to access that unless he actually withdraws physical hard cash from, is always there as a line of credit to use. It’s a simple game of transferring numbers and figures only and not actual money which doesn’t exist. Whatever the figure or number he’s transferred from that line of credit to the club to then transfer to debtors, as a loan, he can legitimately get the club to basically cover and he can then actually physically take out as his.

 

The only money that he has used that was his, that depleted is actual pile by whatever he had to pay for the club, is the only money he has spent and that money went to others and not into the club. Whatever money he has taken out of the club and it’s been over 40m in my calculations, he’s taken out of the club that was/is the club’s and is money he’s taken out for himself that’s his that he’s robbed the club out of.

 

And do you know what, he can do that because it’s his, and it’s legal, but SJH was up front about things when he took control and the money he made from the club was other people’s’ money, not the club’s, investors’ money who bought shares and Ashley’s money who bought the club off him.

 

And we’ve been paying for it literally ever since.

 

Back to the original point as stupid as it is (sorry Neesy, love you man), but NUFC always spent within its means and could do so because where that KK NUFC was concerned, you couldn’t put a price on what it was worth for everyone to be a part of the club. Fans buying season tickets, parents their kids strips, sponsors buying ad space, shirt sponsorship, kit manufactures like Adidas wanting to make and supply kits, training gear etc, even rival vans paying to subscribe to Sky to watch us play and of course, the local brewery chipping in to pay for Alan Shearer as they did KK.

 

Now, the own can’t even put a price of zero on the price of a ticket to get fans to sit and watch his NUFC for 90 mins.

 

City shouldn’t be punished, they are the actual good guys who have invested in their clubs, the sport, local communities and initiatives, education and so on which enriches the game and UEFA and their competitions.

 

Punish the likes of Ashley who are robbing from the game, who enrich themselves only and their involvement makes the game poorer.

 

But hey, least the club is self sufficient and not in debt.

 

Fair play?

 

Fuck off :D

 

Good read that. :thup:

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Guest Howaythetoon

Guest Howaythetoon

Posted
Posted

14 years since Fat Fred dismissed the Hitzfeld dossier.  :(  HTT[/member]

 

Nowt to do with me (laughs)

 

Happy days on here. :thup:

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triggs

triggs

Posted
Posted

Ahh, MikeLUHG. If only you boys knew who you were quoting. He only has hatred in his veins.

 

Doesn't make Solskjaer any less dodgy, it's not like he's made it up. They were talking about it on Second Captains a few weeks ago

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Kaizero

Kaizero

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Posted

I mean, OGS and Molde did nothing wrong there. Guy was charged with rape, got to play whilst the case was ongoing as being charged does not equal guilty - however, when he was found guilty, he was immediately released by the club and then he fled the country. The club or OGS had nothing to do with that.

 

You could possibly argue that he should have been suspended with the case ongoing, but what if he'd been found innocent? Suspending him essentially just fully assumes that he will be found guilty.

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gdm

gdm

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Posted

I mean, OGS and Molde did nothing wrong there. Guy was charged with rape, got to play whilst the case was ongoing as being charged does not equal guilty - however, when he was found guilty, he was immediately released by the club and then he fled the country. The club or OGS had nothing to do with that.

 

You could possibly argue that he should have been suspended with the case ongoing, but what if he'd been found innocent? Suspending him essentially just fully assumes that he will be found guilty.

 

What? like Adam Johnston? :lol: not sure that was the view of the majority on here (including myself) re Sunderland & allardyce

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triggs

triggs

Posted
Posted

I mean, OGS and Molde did nothing wrong there. Guy was charged with rape, got to play whilst the case was ongoing as being charged does not equal guilty - however, when he was found guilty, he was immediately released by the club and then he fled the country. The club or OGS had nothing to do with that.

 

You could possibly argue that he should have been suspended with the case ongoing, but what if he'd been found innocent? Suspending him essentially just fully assumes that he will be found guilty.

He signed him while he had multiple rape accusations against him and even made him captain for one game

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