The only confusing thing for me is that if it’s not real then Kenyon must be in bed with Ashley and what’s the likelihood of that being the case given his previous involvement with the likes of Man U and Chelsea?
Kenyon may have agreed to the publication of the letter but there is no way he wrote it. It's written like a press release not a letter between business associates. It's sole function is, yet again, to cast Ashley in a favourable light........... you know the Mike Ashley that doesn't give a **** what people think.......... yes that thin skinned as **** Mike Ashley. How any of these guys make a good living is beyond me. It's ****ing amateur hour with these clowns all day every day ...........and rather than call them out on it jokers like Lee Ryder and his cohorts at the Chronicle just lap it up.
Occam’s razor. Letter was given to press after December Ashley interview to stop them jumping on the “it’s lies” nonsense spouted by a cynical fan base. They weren’t allowed to publish it til recently when it became an attempt to appease the cynicism. Allegedly.
You give the newspapers and Ashley way too much credit to think this is actually even in the offing. Seriously based on the last 10 years, its far more likely Kenyon is a stooge than that he is actually trying to buy the club.
As I've said, it's the last time I'll ever give any of this stuff I read/hear any credence. It's the only hope I've got, mate. The **** on the pitch has more or less killed me off, if this doesn't happen then there's fck all left. For what it's worth, I think people are trying to buy it but there's only one person on the planet valuing the club @ £300m. It's actually worth nearer £200m, with £100m worth of debt. In Mike's world, this equals £300m. What I think the difficulty is - and there's far more qualified people than I can put me straight - is that every club runs serviceable debt. Ours is "interest free", in exchange for advertising of course, so I would imagine any investor would be trying to work the finances through whereby this is taken into account. For investment, you're just not going to be given £100m+ to simply pay the debt off. It doesn't work that way. Investment to buy it and increase its' value is all you can get. I believe this is what is ****ing us up the ass.
No not leaked, but made available with the agreement of both Ashley and Kenyon. The reason being that both Ashley and Kenyon were concerned that the takeover was being seen as a cynical PR stunt and they wanted to allay fears. Now l truly believe it’s all crap and Kenyon is being paid for his part in this farce. It’s tanamount to fraud, and not the first time Ashley and his cronies have lied and deliberately mislead. The FA should investigate this lying bastard.
It's not all fabricated PR, in my opinion, because again Ashley could not give two ****s about ST renewals, fan opinion, etc. It's "real" and an attempt to keep fans onside so investors don't pull the plug. To try and explain where I think the problem lies - it seems to me that the club is actually worth around £180m-£200m. But in Ashley's logic, he includes the money owed to him (over £100m) in this valuation, which inflates it to £300m. NUFC is not, cannot be worth £300m, it doesn't have the cashflow or assets to be 'worth' anywhere near £300m. This is the sticking point. The problem for anyone trying to buy via consotrium is that investors will not tend to give cash just to settle debt. Debt itself would be considered, potentially restructured, but investment money is about purchasing assets, then providing cashflow to increase the value of these assets (i.e. stadium work, player purchases, commercial increase). Settling debt offers zero value, it does not make the club "more valuable". Thus it stands to reason we can never be sold, unless someone buying the club can agree to structure the debt repayment to Ashley in the form of a loan and Ashley then accepts a price for the club nearer £180-200m. This tallies with the rumour Kenyon has offered £200m - and that although Kenyon's consotrium may have £1bn in the bank, they will not be able to use money to settle debt. It would stand to reason that Kenyon does need to "find" the extra £100m, which constitutes the outstanding debt. The most reasonable solution would be for Ashley to call it a loan, stick a bit of interest on it and offer structured repayments - something he has eluded to already. However, debts like this - like the £1bn debt the Glaziers have - may be tough to service with our current paltry revenue streams, and still invest in the squad. So I feel the delays are in trying to work around the debt, somehow. The price of the club itself is already done and agreed, IMO. If there was one supremely wealthy person/individual interested, they could just pay the debt, but that's a hell of a thing to ask anyone - hand Mike £300m for something you both know is worth £180m......
Mike has valued for a decade our advertising space at £3m per annum and never take into account inflation, true value etc.... This is what he notionally takes to offset the interest. I bet you anything that the true value is nearer £10m a season at least. On that basis over 10 years it could be argued that the debt has largely been paid... in other words the fat **** has been bleeding us dry I’m just hoping someone like Kenyon can see this and so could take the extra £7m a year into account when working through his numbers. If he does, he may just take the loan option from Fat Mike and then get some proper sponsors in to pay true worth. Again.. we may find that over 10 years the fat **** would be paid back so it all balances.
I think that's where we are - they are going over the books to work out the true worth, what they should be making and how they factor in "repaying" the fat **** his money. As I say, most clubs have a serviced overdraft - we had a doozy under Shep with Barclays, I may be wrong but I think it was about £50m? Thing is FatAsh doesn't do 'debt', unless it's owed to him. If they are factoring in an overdraft facility - and someone like Kenyon, or Cook, will know a lot about it - then it'll take time to get answers from respective banks. That will need to be factored in, so it might be a case of provisional £50m from HSBC, restructuring the rest. I just don't think it's bullshit, this time at least. Ashley's a pretty simple gimp. I think Ashley wants out before the next accounts are published, an 'all. He's taken a wodge, that much we know, but there's a massive gap nobody is accounting for and I'm pretty sure it's not sat in a NUFC bank account.....
You were ITK a few days ago and now you are in the dark? Get your ****ing act together man or you will replace Windy as the least reliable rumour monger on here.
Morning Jak... Was waiting for you to come on for someone to chat to. I'm sat in my hospital bed after last night's hip replacement in f*cking agony. That said the joys of p!ssing through a catheter after not being able to go since the epidural cannot be sniffed at, not literally you understand.
And there was me thinking I had a tough day at work! Just having the one done or do they both need doing eventually? Look on the bright side though - you will be more mobile than Joselu once the effects of the operation wear off.
If you get bored have a read of this thread - one of the funniest I have read, particularly the first couple of pages: https://www.not606.com/threads/anger-issues.369933/
