Also commercial income flatlined. And match day revenue went down by only 7m. That seems Correct. So the turnover is a ****ing lie. Media income went from 124 last year for 12 months. To 106 this year for 13 months with an increased value of rights to 150m. The accounts are a sham.
OK here is the BAD news you have all been waiting for. MA has taken back his loan of 106m since 31 July 21. And here is the proof. The loan he is owed is now deemed owed with 12 months of 31 July 20. Meaning he’s took the money out. HE HAS TOOK THE MONEY out. @Darren Peacock's Ponytail That loan you talked about the HSBC loan. It’s to pay him back. THAT my friends is the reason of the delay of the accounts. The bastard!
Nope legally the club is entitled to that premier league income. 13 months worth: But see my last post reported loan repayment. None of it matters. He’s took his loan back.
It means there is no money available for player purchases. He’s stripped all the cash out of the club.
The maximum value he should be getting out of the club sale should be the 107m he is owed in debt: and the 20m the balance sheet is worth. He’s took that money out on the basis that the takeover was going through.
I know that but we're talking in terms of the takeover. The loan is with HSBC who have a lot of former employees now working for Saudia Arabia.
Finally note 28 makes reference to the takeover and issue either the PL. it’s a post balance sheet event which isn’t concluded so if anyone has doubts of it still being on the table then that’s scrubbed that.
Hmm. That’s a tedious link. I suspect he took the money out because he expected the takeover. It never happened and this the loan was to plug the massive gap. But the cash has left the building.
See I don't think that's the case at all. I think he knows the takeover will happen and they've agreed that he can get this money now. But again that's just my opinion
They won’t give him any money until the takeover is done: the loan has to be secured on the clubs assets so there is a limit as to what he can take. If he’s taken out 107m of actual cash since 31 July then what’s plugging that cashflow? The loan won’t. It would only form part of it. It wouldn’t surprise me if he’s stepped down at sports direct because he knows the backlash that’s coming and has decided to step away to save the value of sports direct. There’s a ****storm coming and once the financial gurus in the media work out what is happening. Oh dear me!
But it was never there in the first place. I don't like Mike but all he would appear to have done is substituted one IOU which said pay Mikey for one which says pay Bank. On one level I fail to understand how the real owner can be owed money by himself but legally it is possible. Which means he's simply paid off one loan with a new one.
That’s not correct. His loan we where not making loan repayments. A bank loan you do. Adding more stress to the P&L. It’s a directors loan. He has personally loaned the company money.
There is. He fucjed up when he bought the club and didn’t do his due diligence. Hence he had to inject cash. If he borrowed £130m it would attracted around 7m of interest per year. That saving was offset against the lack of commercial income generated from ****e direct. A loan also gears a company up. His DLA doesn’t. A loan is a preferential creditor. His DLA isn’t. He’s took the money in the anticipation of the takeover being completed. It would have also cleaned the balance sheet for PIF. I am speculating that he has indeed took the loan mind. But the accounts state he should have. Maybe he hasn’t who knows. Only time will tell.
Maybe if he's stepping back a bit then having the capital is more important to him. Might be an investment coming up in another venture and why would MA use funds with interest attached when he can reclaim what he put into NUFC?
