Showing Shareholders at the Sports Direct AGM pictures of toon fans "See they're still ****ing coming lads hahaha".
It's interest free, which will be what gives him the loophole to take as much or as little as wants, depending on what he needs to spend on players to keep Newcastle up.
This is typical of Ashley's tactics ....... the thread is supposed to be about Carver and he's already organised a takeover
Our debt was to the bank mate. An overdraft. Short converted his extra investment into shares. Why would Short mastermind the FFP rules to coincide with revenue if his own club wasn't in order to comply, think about it?
Let's imagine, just for a moment, Mike Ashley puts Newcastle United up for sale today. The deal would be a relatively simple one. Match his valuation and you can be the proud owner of, as someone put it to me just the other day, the most successful unsuccessful football club in the world. How much do you think it would be worth? There are United fans who want Ashley to sell up. Last week’s meeting of supporters bore that out. There are plenty of others who, while not agreeing with all the man’s decisions, are quite happy he is in charge given United’s relative financial security. However, what would it take to make the 15th richest man in the UK blink and consider selling up? What world finance experts Deloitte Touche do not know about football and the money involved in the game is not worth knowing. Every year they publish the Premier League’s financial information and dissect the results so those of us who struggle with long division can just about understand the figures. David Wilkinson is a partner at Deloitte’s Newcastle office and a self-confessed lifelong-suffering Mag. There is nobody better qualified to judge just how much the club would cost to buy, bar the man who would be doing the selling. However, putting a price on Newcastle United is far from simple. Wilkinson said: “The way you would normally value any business is a multiple of the future maintainable earnings. “What they have in the figures from last year – and they strip out what they call player trading – is the normalised operating figure, which for Newcastle last season was about £7.5m. “Normally you would value any business on a multiple of that sum. “If you look at a similar business, say Manchester United, you would work out their rough value by multiplying their published figure, which might be 20 times their operating profit. “Newcastle, who it must be said are not Manchester United, might be times 13 or 14, something like that. “That is typically how you work out how much a business is worth, but football is anything but a typical business.” Quite. So using this practice, and this is far from an exact science, Newcastle could be said to be ‘worth’ £97.5m. However, here is a thing. It is estimated by Deloitte that Ashley has spent �267m during his six years as owner of Newcastle United and therefore it would stand to reason, not that football and reason are regular bedfellows, that the Sports Direct owner would look for a figure closer to that. However, as Wilkinson said, football clubs are like houses in that they are only worth what someone is willing to pay. “That figure (£97.5m) is nowhere near what Ashley would be prepared to sell it for. It is what someone is prepared to pay for it.” Some examples. Yesterday was the 10th anniversary of Roman Abramovich buying Chelsea for �60m plus a piffling £80m to pay off the debt at that time. All things considered, this deal was seen as a bargain for the Russian. Sheik Mansour and the Abu Dhabi Group spent £220m purchasing Manchester City in 2008, a once-proud club with a massive fanbase, but one that had fallen far short of coming close to their potential. Remind you of anyone? Wilkinson added: “City is a good example of how you cannot represent pure accounting metrics on how you value a club because whatever that deal was for City, it might have been 50 or 100 times the future earnings at that time. “It does not bear any relation to reality.” Newcastle recently revealed they finished the last financial year with an operating profit of £13.3m, although there was a loss overall of �3.9m, which was down in part to the value of the playing staff dropping. Wilkinson said: “This suggests more liabilities than assets. “That does make it incredibly difficult to put any value on the club, on a normal basis.” He added: “In value terms, I have never quite understood the financial mechanics of why a club cannot make money. “If you follow the Deloitte methodology in terms of what should be paid in wages – no more than 50% – in theory if that is your biggest cost and you then have 50% for other stuff you should be making some money out of a club. “The television money has jumped as well. “So, with the growth coming from other revenues which do not currently exist, the question must be why isn’t that flowing through to the bottom line.” So why are clubs with massive incomes managing to land themselves with debts a third world country would think was a bit steep? Wilkinson said: “My father and I have this debate all the time (about Newcastle). “He asks where does all the money go, because if you look at what the Premier League is worth to a promoted team – they say the play-off final is worth tens of millions – the TV money alone is huge. “Unless you are spending a significant amount on players wages, a large part of that should be flowing through to the bottom line. “A lot of the other stuff he (Ashley) has been doing, making investments in other things, the Academy and stuff like that, they will be investments. “They should not be impacting on the assets. “The wages last year were £64m from a revenue of £94m, so that is about 70%, so they are 20% over the top.” Does any other business act in this way? Wilkinson said: “No, football clubs are unique. “When the TV money comes in, players say they want more of it and completely lose sight of what they were getting paid in the first place.” So would Deloitte’s very own Newcastle fan put his billion pound fortune – if he had such funds – into a football club? Wilkinson admitted heart would rule head. With a smile, he said: “I might be tempted to buy this one, but that is not a business decision. That would be more a social decision.” This is key. Football fans think nothing of digging deep for their team and those that follow Newcastle do this more than most. However, it is not how billionaire businessman operate. Ashley is going nowhere because, apart from anything else, it is going to cost a fortune for someone else to buy United, never mind run the club.
No doubt you will comply with FFP comfortably, that doesn't mean your debt free though, there's more loopholes in FFP that a thousand shoelaces.
WOuld you advocate staying away from the games just because we aren't happy with the owner? Because I wouldnt
That isn't anywhere near what I just said, when did I suggest you stay away? What I just said is quite clear. Ashley has been making money out of NUFC and, because it's clear that nothing has changed, he can continue to do so. Despite all the endless talk of supporters takeovers, boycoutts, protests etc, absolutely nothing has changed. He sells the 'heroes' and ships more in while keeping the club in no man's land. I doubt anyone wants to buy Newcastle, even if he wanted to sell, which I don't believe he does. He could be there for another 20 years.
I never said you did, I just asked. As with the vast majority of clubs, digging into your pocket and heading to the ground every fortnight is not a rational or logical decision, just a love and passion. We could field 11 of our under 18 lads every week and it wouldn't stop anyone from going.
So what are you basing us not being debt free on? We've a statement from our Chief executive. You need to bring something to the table to make me believe your assumption.
This is the problem when people quote their own 'facts', as proof, but attack yours as nowt more than 'loopholes & speculation'.
Daft init. Nowt but blind guessing. Like his word based on his own logic and no proof discredits our chief executive Yeah right,
There's a law, on forums like this, that ........... 'if something is repeated enough times it becomes a fact'. Like, 'we won the UEFA Cup, no one booed Bobby Robson & there was 10,000 on the waiting list'
http://www.bbc.co.uk/sport/0/football/31313569 "John Carver warns 'disrespectful' Remy Cabella." So ........... you're a French international, have played in the Champions League and have won a league title. Now you're being bollicked by the groundsman who then blabs to the press about what was said ......... ffs Carver won f-all, played a handful of games for Cardiff and never scored a goal.
However, what would it take to make the 15th richest man in the UK blink and consider selling up? As for the last line.. Stick the fat B****** on a celery diet and tell him theres no Greggs pies until he gives in. ****
