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GACP Takeover

Discussion in 'Newcastle United' started by Dr Nickilas Van Helsing, Oct 14, 2019.

  1. Warmir Pouchov

    Warmir Pouchov Better than JPF

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    So we are looking for 100m plus that the fans keep claiming has been siphoned off, and the evidence being presented is a completely above board sale of HIS land for a £9m? Not being funny but this is not the smoking gun I was hoping for.

    I understand the fans may be miffed that he owns the club, he owns the land that came with it and any other assets. Ideally those things remain with the club, but as soon as SJH sold him it all, it became his to do as he pleases. The fans should be miffed with SJH if that is their problem.

    Regardless the selling of some land for £9m, where is this £100m we are regularly being told has been transferred out of the club into his holdings? That is what I am interested. Not least from the point of view I want to know how he has done this legally :bandit:
     
    #161
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  2. Warmir Pouchov

    Warmir Pouchov Better than JPF

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    This is older than Brexit. The fans have been making these claims for 10 years without evidence. Indeed Brexit copied Mikes Siphonage for how to get unwarranted airtime.
     
    #162
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  3. Dr Nickilas Van Helsing

    Dr Nickilas Van Helsing Well-Known Member

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    Ashley sympathisers are like pathetic woman that keep saying their boyfriend is a good person after he's chinned them again
     
    #163
  4. Darren Peacock’s Ponytail

    Darren Peacock’s Ponytail Well-Known Member

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    Who is sympathising with him?
     
    #164
  5. G4rdToonArmy

    G4rdToonArmy Well-Known Member

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    Quote myself on the 100m please? Or anyone else for that matter. I'll wait...(disclaimer - if you find them they are a likely eating **** from a diaper out of a bin)

    In regards to the land - there can be no argument there he has undersold a club asset to himself to sell on for a profit. I can assure you as someone who works in property and land sale industry that the value of that land DID NOT INCREASE by 50% in a matter of years. While not illegal because as you (and I have said) it is his to do what he wants with but if this was an independent transaction the relevant authorities would be all over it like a bad rash as a blatant case of miss-selling.

    “A contract for the sale of an interest in land can only be made in writing and only by incorporating all the terms which the parties have expressly agreed in one document or where contracts are exchanged in each.” - The problem here is that Ashley is both parties in the agreement and can therefore do as he pleases but it does not mean it is fair and reasonable for the club - but Ashley isn't going to raise this as a concern.

    The only way you or I as normal, humane people would sell land on would be with an uplift clause (detailed below for all) in the contract that a certain % of the profit would be due to the initial seller upon development or further sale of the land, something I'm sure Ashley will have negotiated with the developers who now own the land and will develop a large housing/commercial complex that will generate likely three times the agreed sale price with Ashley but will the club see any of that money?

    "Uplift clauses are intended to give a previous owner of the property a share in future development value, when that value is realizable. Typically, an overage payment is 25% of any increase in value attributable to the grant of a planning permission, if the triggering event occurs within a period of 25 years."

    In short is what Ashley doing illegal? No
    Is he making and pocketing money at the detriment of the club? I'll let you answer that one...
     
    #165
  6. Dr Nickilas Van Helsing

    Dr Nickilas Van Helsing Well-Known Member

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    the sympathisers
     
    #166
  7. Darren Peacock’s Ponytail

    Darren Peacock’s Ponytail Well-Known Member

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    How much was the land worth when he bought it?
     
    #167
  8. G4rdToonArmy

    G4rdToonArmy Well-Known Member

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    Send me the title plans and related documents and I'll have a look at comparable sites for you :emoticon-0148-yes:
     
    #168
  9. Darren Peacock’s Ponytail

    Darren Peacock’s Ponytail Well-Known Member

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    I assumed you know all these details as you're adamant he's fleeced the club
     
    #169
  10. JakartaToon

    JakartaToon Well-Known Member
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    This land issue is getting a bit silly. The local MP has now put in a planning objection on the grounds that it wouldn't allow SJP to expand. If this objection was upheld the land would presumably not be worth as much and the club could buy it back again at a lower price (original 6million) - making it one of the sweetest deals Mike Ashley has ever done and the club breaking even on the whole deal.

    With the exception of maybe undervaluing advertising revenue (loan interest vs free advertising) and club shop arrangements I don't think that Ashley has done anything particularly underhand with club accounts. I think he has run the club finances in an extremely conservative manner (upfront payments for incoming players vs staggered receipts for outgoings and I also think he has written off some player costs upfront in the season we came up rather than amortising over length of contract).

    It is quite clear though that his business model is to make the club financially sustainable as the best means of continuing to promote SD, rather than to get us challenging for anything.
     
    #170
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  11. Dr Nickilas Van Helsing

    Dr Nickilas Van Helsing Well-Known Member

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    we are **** at football
     
    #171
  12. Darren Peacock’s Ponytail

    Darren Peacock’s Ponytail Well-Known Member

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    No we are not. In comparison to 15 other PL teams we are **** but put us in League 1 and we will rip it <whistle>
     
    #172
  13. Warmir Pouchov

    Warmir Pouchov Better than JPF

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    So Ashley has done the club out of £3m? Its the land thing again but I'll overlook it.

    I assume you have zero evidence of Ashley taking club funds and putting them into his own "pocket" so to speak? You know the regular claims we have that Ashley has somehow siphoned off money before the accounts are released? Or are you going to say you've never heard anyone say it?

    As I say this lie is built on sand and has never once been backed up. I never said you said 100m. However you will struggle to convince anyone on these boards that those sort of figures have not been regularly bandied about. As a Newcastle supporter it would be fair to assume you've taken at least a passing interest in the Chronicle or The Mag in recent times or similar publications. I dare say you've read articles and the comments on them. With that in mind I think unless you are telling us you can't read written English all of a sudden, the request for evidence of something you know exists would appear to be the action of someone being deliberately obtuse?

    I think you need to change your username to Arsene Wenger before we go any further given the amount you appear to have missed while using these boards and showing an interest in NUFC generally.
     
    #173
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  14. Dr Nickilas Van Helsing

    Dr Nickilas Van Helsing Well-Known Member

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    we are a crap footballing side ! this is the result of not investing well enough in any one area of the club.. we are the no frills team …. the value option on everything gets you nowhere near quality in any area
     
    #174
  15. Darren Peacock’s Ponytail

    Darren Peacock’s Ponytail Well-Known Member

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    Only in comparison to PL teams. We would be mid table in the Scottish and Dutch top leagues
     
    #175
  16. Roland Deschain

    Roland Deschain Well-Known Member

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    I'm sure I've heard that somewhere before....
     
    #176
  17. Freddd

    Freddd Well-Known Member

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    OK then. Mike Ashley has made the club financially stable but has no interest in its success or well being. He makes some money out of the club by "free" advertising and ancillary dealings such as the land sale. No one on this board is seriously suggesting he is secretly siphoning money off though there are twats out there who do say this. Everybody agrees with all of this but manages to phrase it in a variety of ways that make it sound like they're disagreeing.

    Does that about sum it up ?
     
    #177
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  18. Dr Nickilas Van Helsing

    Dr Nickilas Van Helsing Well-Known Member

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    when he bought the club we were a European regular !! if he had kept us there he's have been raking it in! he got it all wrong thinking the money would stop and clubs would go under and what happened the opposite ! he sold all our best players and replaced every good thing from grass roots up with complete ****e . I'm not interested in the business side of football just the football on show and that has been terrible and in 2019 we can't even pass
     
    #178
    Last edited: Oct 24, 2019
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  19. Consett Mag

    Consett Mag Well-Known Member

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    As mentioned in the Times today, in a piece about SD's new auditors:

    "The Financial Reporting Council, the regulator, is investigating why Grant Thornton failed to disclose payments allegedly made by Sports Direct to a company run by Mr Ashley’s brother."

    He wouldn't do such things?
     
    #179
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  20. Warmir Pouchov

    Warmir Pouchov Better than JPF

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    If he has done this at Newcastle then he should be rightly castigated by the fans. At present we have no evidence of that though. So fans should stop embarrassing themselves. Its the same accountant so I would think their wider involvement with his various interests will now raise investigation. Just to be clear I don't like Ashley, I don't like how he operates and I would not be surprised to find he has been doing shady deals or siphoning. My point is only the fans have had 10 years of accusing him of something without evidence. They need to stop spouting bullshit because it doesn't help, it only clouds the issues further. Guess who that suits.
     
    #180

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