FMA's company, Sports Direct International, saw £203.4 m wiped off it's value in this weeks stock market meltdown, according to figures in todays Times. He owns 71% of the shares and their value dropped by 18.7%. Can't see him giving Alan Partridge the £35m Carroll money to spend now.
SDI's been doing OK, but this is certainly going to hit him in the short term. The most likely effect will be to make FMA run NUFC very much more along normal business lines, rather than chucking money around. But TBH I think he was going to keep the 35 mill BEFORE the stock market problems.
Ninja. Profits aren't the only thing taken into account on the stock market. So many other things are taken into account to calculate a market value.
Any drop in the share price is only a paper loss which only has an effect if he sells his shares today. He might be many things but he is not daft when it comes to money, so he wont be selling any time soon. This will have no effect on his free capital so no change from before the share price fell
What will be hit is his ability to borrow if he needs cash. If he's got cash it's no problem and SDI has made plenty recently. But he'll be more cautious until this blows over. Half the problem is the twatty media negging everything as usual; they'll talk us into another recession soon...
Cash is king in a recession. It keeps your business alive and you can take over other businesses cheaply if they're struggling. No idea why he would need it at any given time, but he may.
It doesn't matter whether he's doing well or **** in his other dealings because we see **** all of the cash. Doesn't matter, how the fat bastard dies.
And the merry-go-round continues. If Sunderland fans comment on Newcastle subjects, they get called obsessed, likewise if Newcastle fans comment on Sunderland subjects, they get called obsessed. Its so mind numbingly ******ed how predictably it pans out.
Why? It's topical news, and it's not just taking the piss, as this is a subject that requires some knowledge, stocks and shares and markets etc. Is it all a bit baffling for you. When-ever there is a slump, our own chairman, business's has chance to take a hit. Get the drift.
