Pretty bad for a club that spent 2 seasons of the last decade out the prem like. And I've just had a look at that list (good googling) and fair point but it has Mignolet, ****ing MIGNOLET, on 75k per week. Welcome to the real world of modern day prem wages for keepers and alot has changed since Reina was actually signed. Anyhow, if the excuse is we just can't throw 40k at keepers, what's the reasoning for all the **** wages we paid for every other buy this season that wasn't a loan? We have Shelvey yes, anyone else on 60k or above?
No, I'm not asking him to write off £100M. He has in reality loaned the money to himself. You can't loan money to yourself. He gets his money back by selling the Club at a price he wants to sell it at. It's not writing a loan off as you can't loan money to yourself it's just he effectively paid well over the odds for the Club as he failed to carry out due diligence. If you buy a £40,000 car (trying to relate to your expectations here ) but pay £60,000 for it the car is still worth £40,000 and you have not loaned yourself £20,000 when buying it but that's what Mikey is doing and saying.
NUFC is a ltd company so he's not loaning money to himself. And the the loans as far as I can remember are from another limited company. I think we can all agree that Mike Ashley is not NUFC.
I know but I just felt like winding Free-dor up today. Just in one of those moods. PS But don't tell him.
£29m the first time. Paid £11m back to him the following season leaving £18m 'short-term loan' on the books. He had to put £15m last season which brought it up to £33m and the whole amount was restructured under one loan and switched to owing it to himself to his limited company, or vice versa. The larger debt is £111m so there is £144m owed in total.
If he says its a loan its a loan. If my business needs money and I put it in from my own pocket I can ask for it back.
And do you agree you can have it back? Or have you refused? Have you ever argued with yourself and threatened to put in a grievance? Do you have to have a meeting to discuss it or is that a delegated power you have given to yourself?
If I wanted to put it not as a loan I would have to issue some more shares and use the money to buy those. You can’t just put money in - it has to be accounted for somehow. Don’t think auditors would accept it as a gift to the company. And anyway its always good to have it classed as a loan. It can then be paid back at any time without attracting tax from surplus cash. If not he could only take it as a dividend which is not tax free.
It's all about how it's spun up. NUFC is actually "worth" around £200m, but any prospective owner has to take the outstanding debt into consideration, so it's £350m please. Same way the mackems aren't 'free', it'll cost about £100m to actually own that club, because there's debt. Just don't see how employing a commercial director, finance director and chief exec would hugely impact player recruitment. Charmless is on about £200k; for less than a million a year we could have a team of five. One commercial agreement in the States would give us that back and more. Problem we have is a company secretary running around doing everything. Money well spent, in my opinion. The "loan" may be interest free, which allegedly accounts for the lack of sponsorship income - this just suits Mike, not Newcastle United. I think it should be illegal for SD to do what it does. MASH Holdings should by law be paying the going rate for stadium advertising. He could even take percentage cut back into the business, but could easily free up £1m-£2m a year to just improve training, pay for the execs I think we desperately need or re-invest in youth. Football is about speculating to accumulate - you simply have to spend, it's unavoidable. But spending on people to improve structure, process, future earnings and youth is money well spent and it's money we could afford to spend, with no impact on Rafa's plans. Mike's a moron and a frustrating one at that because for no direct impact on his personal fortune he could vastly improve NUFC. Not to compete with Arabs, but to ensure PL stability for the next owner. It's ridiculous because the next owner will come in and do exactly this, make us a better club, and all Mike would have had to do was learn a fcking lesson and apply some fcking intelligence.
Still its a nice facility to have I suppose. I mean its not what other clubs have in a similar circumstance. Good on him.
Where is Mignolet playing football? Could you recall that for me as I need to see if its a comparable club to a promoted side...
If I was Mike and I had a set of fans as ungrateful as ours, I'd be doing a Tony Soprano and adding points to these loans. He gets no thanks for it anyway from our village idiots. Half of them are probably unemployed bums who've never worked a day in their life, but they want to tell him how to spend his hard earned cash.
Sorry where have those promoted sides spent the last decade? Just needed to check and see if it's comparable with your 3 year plans...
I don't know, maybe the club was already operating on a wage budget above 5 other clubs in the division? Perhaps the manager couldn't offload anyone to free up the necessary funds. He couldn't offload Colback who is on 70k per week. He kept Mitro for whatever reason on 60k per week. Rafa has 130K a week doing nothing for him. If we can sort that over the summer it will be a massive help to Rafa. Its very easy to criticise the management team (Rafa, Mike, Lee) but we don't know how difficult it was for them to get those wages off the books. What the club can't do and should not do in my opinion is just lavish 6.76m a year on further exasperating the wages scenario and start operating on a budget way beyond our means.
Walked right onto it. Thank you for proving my point about being willing to spend the money but learning from the mistake of spending it in the wrong places. The old Derren Brown trick worked
