NUFC Sold?

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Geordieginola said:
Even though I would love to think this the fact is it’s actually harder than you think to get money out of a company. If he wants money out it has to be dividends and that is taxed like hell at yhthe figures we aren’t talking.

If he is investing the cash in business opportunities they are not his but Nufc assets.

This the only way he can take money out is to clear his directors loan. Which max is 144 million. If he takes this out then the balance is ours.

Gg
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Mike Ashley owns NUFC, Sports Direct, House of Fraser, Lonsdale etc.
He is answerable to nobody but the tax office.
I don't see how he is restricted in any way.
He hasn't become a billionaire by following all the rules and he certainly would not have an issue in getting his fat, grubby mits on his own money.

I'm no financial expert but you can be sure that Ashley most certainly is.

We need a new owner who has ambition for Newcastle United and not simply milking the TV money and 'getting by' in the PL.
I've no doubt Ashley will pay Rafa whatever he wants but will never spend the sort of money required for this football club to get anywhere near the top table.
 
JoKeR ...in the pack said:
Mike Ashley owns NUFC, Sports Direct, House of Fraser, Lonsdale etc.
He is answerable to nobody but the tax office.
I don't see how he is restricted in any way.
He hasn't become a billionaire by following all the rules and he certainly would not have an issue in getting his fat, grubby mits on his own money.

I'm no financial expert but you can be sure that Ashley most certainly is.

We need a new owner who has ambition for Newcastle United and not simply milking the TV money and 'getting by' in the PL.
I've no doubt Ashley will pay Rafa whatever he wants but will never spend the sort of money required for this football club to get anywhere near the top table.
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GeordieGinola is quite correct. Newcastle United Football Company Limited is owned by MASH Holdings which is controlled by Mike Ashley. Money could only be taken out of the Company in three ways:
1) as a dividend paid to shareholders (which hasn't been done)
2) as a repayment on loans made by MASH, which has been partly done, but using another loan by him.
3) as a payment for services provided. It can't be a Directors Fee as he is not a Director. It cant be a payment to Sports Direct either as that money would count as income to Sports Direct.
NUFCL has made a number of provisions in 2017 accounts including writing off certain player current balance sheet value and also a provision for possible tax charge and penalty that may be incurred as a result of HMRC investigation. While these would lower the 2017 profits they would all be seen as conservative accounting actions by auditors and encouraged. However it would also make the figures look like we made large losses which means we didn't have much money available to spend on players. He can't go on doing that forever though.

Something strange also happened in the wages and salaries - these went up from 74.7m in 2016 to 112.2m in 2017. Someone suggested this was due to a promotion bonus but that was only 9.9m so there is an extra 30m cost in there. I can't believe that we actually raised our player wage bill that much for the Championship Season but there is no detail on this in accounts.

However only way he could have used that to take money out of the company was to employ distant relatives as turnstile attendants on huge salaries in return for paying the majority of the money to him!
 
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Lord Jonjomort said:
Some interesting stuff popping about today. Google search now puts NUFC as having Perennial (http://www.perennialrealestate.com.sg/) as the parent company. This snippet is available:

http://primepartners.com.sg/Article/reverse-takeover-of-st-james-holdings-limited/

Something about a reverse takeover of St James Holdings but it goes back a while. Not sure if it's nothing or something.
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I'm guessing there is a company in Singapore with the same name since it mentions the 'Singapore exchange'?
 
JakartaToon said:
GeordieGinola is quite correct. Newcastle United Football Company Limited is owned by MASH Holdings which is controlled by Mike Ashley. Money could only be taken out of the Company in three ways:
1) as a dividend paid to shareholders (which hasn't been done)
2) as a repayment on loans made by MASH, which has been partly done, but using another loan by him.
3) as a payment for services provided. It can't be a Directors Fee as he is not a Director. It cant be a payment to Sports Direct either as that money would count as income to Sports Direct.
NUFCL has made a number of provisions in 2017 accounts including writing off certain player current balance sheet value and also a provision for possible tax charge and penalty that may be incurred as a result of HMRC investigation. While these would lower the 2017 profits they would all be seen as conservative accounting actions by auditors and encouraged. However it would also make the figures look like we made large losses which means we didn't have much money available to spend on players. He can't go on doing that forever though.

Something strange also happened in the wages and salaries - these went up from 74.7m in 2016 to 112.2m in 2017. Someone suggested this was due to a promotion bonus but that was only 9.9m so there is an extra 30m cost in there. I can't believe that we actually raised our player wage bill that much for the Championship Season but there is no detail on this in accounts.

However only way he could have used that to take money out of the company was to employ distant relatives as turnstile attendants on huge salaries in return for paying the majority of the money to him!
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Or Keith Bishop’s company on £10m a year..
 
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Any idea's lads? interesting considering the fans forum has been cancelled until September - maybe Bishop was right - this will all blow over by September - As Ashley will have sold?
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G4rdToonArmy said:
Also we've taken an active interest in the Asian Market recently with Muto, Ki coming on board, Fun888 etc.

Isn't beyond the realms of possibility.
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According to reuters, the company used to be called St. James' holding. Apparently that was used by MA to buy us?
Just feels like its mike appealing to the asia market in some way that doesnt involve him selling us but him somehow making money from the situation. Dobt ask me how so
 
What I found was that there’s two SJH companies. One, in Singapore, is effectively an entertainment company owned by Perennial. The other is owned by the fat one. I think it’s simply a domain name issue that has seen the link move, I sadly don’t think it’s a thing.
 
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Lord Jonjomort said:
What I found was that there’s two SJH companies. One, in Singapore, is effectively an entertainment company owned by Perennial. The other is owned by the fat one. I think it’s simply a domain name issue that has seen the link move, I sadly don’t think it’s a thing.
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In the meantime some industrious Newcastle fan has changed wikipedia and everybody has got excited. The link you posted yesterday something about it going through in 2014 so it was obviously nothing to do with the club.
 
There's been quite a bit of chat from fans about us getting relegated to get rid of Ashley. While I see the appeal in spiting him because he's a ****, I can't see him going based on the last two relegations. IMHO the best we can hope for is to be a stable EPL team and hope someone with more money than sense takes a fancy to us.
 
General Lee Speaking said:
There's been quite a bit of chat from fans about us getting relegated to get rid of Ashley. While I see the appeal in spiting him because he's a ****, I can't see him going based on the last two relegations. IMHO the best we can hope for is to be a stable EPL team and hope someone with more money than sense takes a fancy to us.
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Three scenarios for me; 1) the fan abuse of SD continues to affect profit, shareholders get involved and he is left with no choice but to sell. 2) we get relegated, don't come back up at the first attempt and he writes off a lot of cash to get rid, 3) we get lucky a.f. and someone with a lot of money buys a PL club called Newcastle.

I cannot see an Ellis Short situation with this ****ing idiot in charge, so 2 is least likely. There appears to be no interest in football, I'd guess due to the diminishing TV contract, so (3) is fanciful. I actually think (1) is the best option - however, I don't think the fans will keep it up.
 
Lord Jonjomort said:
Three scenarios for me; 1) the fan abuse of SD continues to affect profit, shareholders get involved and he is left with no choice but to sell. 2) we get relegated, don't come back up at the first attempt and he writes off a lot of cash to get rid, 3) we get lucky a.f. and someone with a lot of money buys a PL club called Newcastle.

I cannot see an Ellis Short situation with this ****ing idiot in charge, so 2 is least likely. There appears to be no interest in football, I'd guess due to the diminishing TV contract, so (3) is fanciful. I actually think (1) is the best option - however, I don't think the fans will keep it up.
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Affect the profit of SD? I see it as negligible given the size of SD and, in terms of SD's shareholders, MA holds over 50% of the companies shares and seems to like buying more of them when their price falls, so I doubt anything our fans do will bother him at all. People saying don't put any money into the club, equally, are pissing in the wind.
 
General Lee Speaking said:
Affect the profit of SD? I see it as negligible given the size of SD and, in terms of SD's shareholders, MA holds over 50% of the companies shares and seems to like buying more of them when their price falls, so I doubt anything our fans do will bother him at all. People saying don't put any money into the club, equally, are pissing in the wind.
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https://www.theguardian.com/busines...rman-zero-hours-contracts-keith-hellawell-agm

https://news.sky.com/story/shareholders-reject-plan-to-pay-mike-ashleys-brother-11m-11169092

This is his achilles heel. It's listed, so not above action and it's fine margins at that level, all about profit margins. £3bn means **** all if it's at 0.001% profit. And it doesn't take a lot of action to hit profits.
 
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