Turnbull2000 Posted August 18, 2007 Share Posted August 18, 2007 http://tinyurl.com/ynpg4h Can't see this posted anywhere else. BILLIONAIRE Mike Ashley has dug deep into his pockets to almost halve Newcastle United’s near-£80m debt. The sports tycoon splashed £30m of his own cash this week on scrapping a large chunk of the Toon’s debt. Toon chairman Chris Mort said the one-off payment put the club in a much stronger financial position for the future. And he stressed the payment is not at the expense of transfers. There will continue to be money made available for manager Sam Allardyce to buy new players. Nice one Link to post Share on other sites More sharing options...
NSG Posted August 18, 2007 Share Posted August 18, 2007 Fucking brilliant. As important as any transfer could be. Link to post Share on other sites More sharing options...
Guest firetotheworks Posted August 18, 2007 Share Posted August 18, 2007 I think Im overdosing on good news. I hope theres no come down. Link to post Share on other sites More sharing options...
OzzieMandias Posted August 18, 2007 Share Posted August 18, 2007 Link to post Share on other sites More sharing options...
Nobody Posted August 18, 2007 Share Posted August 18, 2007 All these good news must surely mean that we'll lose against Villa today... The life of a NUFC-fan just can't be this good Link to post Share on other sites More sharing options...
Guest Johan Posted August 18, 2007 Share Posted August 18, 2007 Fucking incredible, that guy is like a Abramovich with class. So far 5/5, you just keep waiting for it all to fall off. cant be this good etc. Link to post Share on other sites More sharing options...
Guest loonietoonie Posted August 18, 2007 Share Posted August 18, 2007 simple as that Link to post Share on other sites More sharing options...
Skirge Posted August 18, 2007 Share Posted August 18, 2007 Well dome Big Mike!! :clap: :thup: Link to post Share on other sites More sharing options...
BlueStar Posted August 18, 2007 Share Posted August 18, 2007 No doubt that Major Major character off the SMB will still spin this into another sign of certain financial doom. Link to post Share on other sites More sharing options...
Guest gggg Posted August 18, 2007 Share Posted August 18, 2007 Nonesense. He wants to sell up there's no money and Martins' away. Link to post Share on other sites More sharing options...
Dokko Posted August 18, 2007 Share Posted August 18, 2007 Excellent move by him. Makes sense, but also confirms commitment to the cause and the club. Well done. Back on track in the last couple of weeks. Link to post Share on other sites More sharing options...
TRon Posted August 18, 2007 Share Posted August 18, 2007 The way Big Mike stepped in to slap West Ham around over the the Dyer transfer showed me that he was a man not to be taken lightly. Big Mike and Big Sam are a match made in heaven. Onwards and upwards! Link to post Share on other sites More sharing options...
Thespence Posted August 18, 2007 Share Posted August 18, 2007 f****** incredible, that guy is like a Abramovich with class. Roman paid off all of Chelsea's debt. Any business bods out there explain why he hasn't paid the lot off. Link to post Share on other sites More sharing options...
Dokko Posted August 18, 2007 Share Posted August 18, 2007 f****** incredible, that guy is like a Abramovich with class. Roman paid off all of Chelsea's debt. Any business bods out there explain why he hasn't paid the lot off. Probably because some of it was loaned from Northern Rock interest free, and the other £30m left is from the stadium expansion which is paying itself. Just a guess, but i reckon not too far off. Link to post Share on other sites More sharing options...
Thespence Posted August 18, 2007 Share Posted August 18, 2007 Probably because some of it was loaned from Northern Rock interest free Makes sense. the other £30m left is from the stadium expansion which is paying itself. The club/Ashley has to give most of the season ticket money for that & I know there is interest on top that. Cheers for the quick reply Link to post Share on other sites More sharing options...
Dokko Posted August 18, 2007 Share Posted August 18, 2007 Probably because some of it was loaned from Northern Rock interest free Makes sense. the other £30m left is from the stadium expansion which is paying itself. The club/Ashley has to give most of the season ticket money for that & I know there is interest on top that. Cheers for the quick reply IIRC a certain % (quite high) of the 16,000 expansion pay off the money borrowed (£40m in total) for the stadium expansion. I'm sure it was 20 years, this though could be well wrong as i'm thinking back to before it was built! The £30m he's paid off is more than likely the money FS has spent in the last 2-3 seasons trying to keep us competitive and failing. Link to post Share on other sites More sharing options...
jarralad Posted August 18, 2007 Share Posted August 18, 2007 Fantastic news. Link to post Share on other sites More sharing options...
Willow Posted August 18, 2007 Share Posted August 18, 2007 :celb: :celb: Aye this is amazing, I've been smiling like a proper kid all week. Heres the article posted in .com in case people missed it, also mentions Dyers price: Speaking to the Chronicle on Saturday, Newcastle Chairman Chris Mort revealed that owner Mike Ashley had made a sizeable step to reducethe club's debt burden - and also confirmed the figure that Dyer was sold for: “We’ve been looking to reduce debt levels ever since we took over. Mike put in £30m this week to bring the debt levels down, which is a great thing for the club. “The debt is partly due to money already being spent, which you would expect to earn as future income. “It can be replaced, but it’s obviously money we’d rather be spending on players, rather than sorting out the club’s finances generally. “There is still some debt left, but it’s been brought down to a much more manageable level. “Then of course you have the Kieron Dyer deal going through this week, for which we got £7m (whether that figure includes the sell-on clause fee due to Ipswich is unclear). I’m pleased for Kieron that he could get the move he’s been after. “It doesn’t quite work that the money from the Dyer transfer gets put straight back into buying players. “We would be doing transfer deals anyway regardless of this. We’ll continue to invest in the club. “We’re still looking for one or two more additions, and that was the case whether Kieron was going or not. “If you look at the squad, we’re incredibly strong up front and in midfield, but we might add more depth at the back. We’ve put together a strong defence over the summer, so I’m not worried. But it would help to have a bit more depth. “We’re expecting a crowd of more than 50,000 and I think there’ll be a fabulous atmosphere. “I’m hoping the crowd will be as noisy as possible. We want the fans to get behind the team. “At Bolton we had such fantastic support. It really makes such a difference to the team. They have the ability to help us get the right result. “And that was a relatively smaller group of supporters, I cannot imagine what it will be like with a full house at St James’ Park. “We’re keen for people to get to the ground a bit earlier than normal because we have a new turnstile system in place. “It’s not that there are any problems with the system, it’s been tried and tested, but it will be slightly different for the supporters and something they need to get used to. We don’t want them to miss any of the match. “I’ve been to a meeting of the Premier League chairmen this week and I got a good welcome from the others. It was an open opportunity to have some in-depth talks.” Link to post Share on other sites More sharing options...
Guest elbee909 Posted August 18, 2007 Share Posted August 18, 2007 30 million of his own money to cut the debt! Just stop renting that warehouse from Shepherd's brother, that'll help Link to post Share on other sites More sharing options...
Unbelievable Posted August 18, 2007 Share Posted August 18, 2007 Well, I have to admit that although Mike Ashley is not into talking much, his actions certainly speak loudly at the moment and it looks like my initial sceptisism may have been unwarranted. Also, Chris Mort is coming out with information a lot more lately, which has been reassuring. Hope they keep it up and Allardyce produces the results on the pitch to keep the optimism going! Link to post Share on other sites More sharing options...
Guest Guinness Posted August 18, 2007 Share Posted August 18, 2007 Cracking news, really good to see the debt being addressed, it's now a much healthier figure. Link to post Share on other sites More sharing options...
Guest Knightrider Posted August 18, 2007 Share Posted August 18, 2007 So he's basically spent in a few weeks what the Halls and Shepherd's took out over a decade... Brilliant. Bet there are still some doubters though. Link to post Share on other sites More sharing options...
Guest microbar Posted August 18, 2007 Share Posted August 18, 2007 Big thanks mike I have some debt if you want to pay that off too Link to post Share on other sites More sharing options...
The Bonk Posted August 18, 2007 Share Posted August 18, 2007 So he's basically spent in a few weeks what the Halls and Shepherd's took out over a decade... Brilliant. Bet there are still some doubters though. Cue NE5 rebuttal and subsequent 5 page argument. Link to post Share on other sites More sharing options...
Guest shaun11177 Posted August 18, 2007 Share Posted August 18, 2007 Its likely that the rest of the debt is structured so that if you wanted to pay it all off now you would need to pay about 6 years interest up front-i think the stadium loan was due to be paid of by 2013+there may be penalty clauses for paying off early. We borrowed 55m to expand the stadium and are probably back to that figure now. Thanks Mr Ashley. Link to post Share on other sites More sharing options...
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