This is old news now, well yesterdays news in fact, but it’s taken me a while to do some digging and to prepare this article so apologies for the delay.
I read some comments in The Chronicle whereby they attempted to clear up where this £35 million has gone and what it has been accounted for. Being realistic they haven’t got a clue, which they admitted to be fair, and neither will any of us until the accounts are released for the relevant period, and even then it will be hard to tell exactly what has gone where.
They did manage to collar a “source close to NUFC” however in fact The Chronicle managed to grab a “senior” source no less. Let’s take a look at what was said as he tried to clarify just what the £35 million will be spent on:
“The most simplistic way of saying it is that the money will not be taken out of the club. It will go on the squad. Mike has no plan to withdraw any money from the club.”
“What Mike and Derek have done is be prudent about what we spend. We have great deals which allows us to sign good players and give them big wages We are not being frivolous like previous regimes in terms of getting trophy signings which will fail to deliver – like Michael Owen.”
“We are aiming for a top-10 finish next season, and Alan Pardew, Graham Carr and the rest of the staff will get the squad together they believe will get us there.”
I may aswell have not bothered with all of it as the statement from the source falls apart at the first hurdle.
“Mike has no plan to withdraw any money from the club.”
Really? Because that’s not what the accounts say. Take a look for yourself.
It quite clearly says £12.3 million will have already been paid back to Mike Ashley at the start of last season, and that another £16.5 million is repayable after “more than one year”. Now that could mean the start of this season or the start of next season, but it will be one of them as on another page (the one that goes on about balances and other stuff like that) it is shown as a liability within 1-2 years.
Now personally speaking I don’t mind if money goes towards paying off debt, as long as the first-team is improving steadily along with it. Time will tell on that of course, but the one thing that grinds my gears is why the need to be so cloak and dagger about it all?
If they want to use some of the money to pay off debt then just say. People will grumble and say that it should be used on the first team, but at least it’s a bit less fanciful than suggesting that it all be used on training ground upgrades, wages and whatever.
It’s there, in black and white, Ashley IS taking money back from the club. It’s not necessarily a bad thing as a club with lower debt may ***** the interest of another buyer, but it’s most definitely happening. Kind of makes a mockery of the source don’t you think?
Then again, we are used to being led astray….
@toonpipes
I don’t love Shepherd, I just like him more than Ashley. 😆
Bobby Shinton number 9(Quote)
@whoarya
Whoarya? ❓
Bobby Shinton number 9(Quote)
Bobby I wouldn’t hold the train back for him anyway 😉
Big Dave(Quote)
@big Dave
I can’t believe the lack of stick I’m getting tonight. I’m in agreement with most! 😯
It’s bloody boring like! 😆
Bobby Shinton number 9(Quote)
bobby – yu have to be kidding – got your loyalties misplaced …. it was him who chose to sell to MA and he wasnt thinking about you when he pocketed a substantial chunk of cash in the process knowing full well that the club was in a terrible state ….
TOONPIPES(Quote)
Toonpipes I think you might find that SJH left FFS with no real option and also pocketed a substantial chunk of cash in the process knowing full well that the club was in a terrible state ❓ or does SJH get away scott free again ❓
Bobby it must be a struggle mate knowing yer in the majority for a change 😆
Big Dave(Quote)
Shepherd is like a big fat greasy rat that jumped ship only when he had to and made on like he was another honest fan. I don’t think it’s untrue to say that he raped the club for everything he could and made useless decisions along the way. So far Ashley has employed Wise ect but also people like Graham Carr and Chris Mort. What did FFS do? Make all the **** decisions himself?
Oh, and NUFC isn’t the only business FFS has screwed over. 😉
DJG(Quote)
the thing is! it will only take two big signing and good results next year and all will be rosey……. lets live in hope…. long live Ashley!!! get us into a good position, get his money back and more then sell us to someone with more money than sence….. and if i did have the money nothing would make me happier than to skint myself for the TOON…
Towser(Quote)
Big Dave. True. But at least Sir John Hall greatly improved the ground and invested a lot of money. What has FFS’s family done apart from ride the gravy train?
DJG(Quote)
bobby…your a **** stirring clueless fecker and your just WRONG, and Judas wanted to go you feckin idiot….do you feel better now bobby 😉 😆
richietoon(Quote)
“long live Ashley!!!”
😕
Moreno(Quote)
BigDave – cudn’t agree more .. refer my point about lots of people being responsible for the relegation and that includes SJH – rot set in long time before MA arrived on the scene ….. to be honest thought i might be too much for people to handle if i had implicated SJH and FS in one go so … genuinely pretty positive about the situation today – what do you think?
TOONPIPES(Quote)
Toonpipes- once again it’s not about the truth it’s about the lies.
If they feel they have to lie then say Nowt. I’m not asking for full transparency to the world of all goings on with the club. Just don’t sneakingly lie to its support.
Or are you saying that it’s wasn’t sneaky, and/or it wasn’t a lie?
JerseyGeordie(Quote)
DJG why include Chris Mort ?? what has he done for us ?
Toonpipes I did have faith that after last season that MA would see the light that with a bit of decent investment we could have pushed on this season, but I just cant see it happening
Big Dave(Quote)
Jersey – How could it work tho? i mean, what is said may or may not be the truth at any given time. Lets suppose NUFC release a statement 1st Jan about a policy or strategy and for purposes of this discussion, lets suppose what they tell us is the truth. By the 1st Feb, the business panoramic changes and the right strategy is actually to do something which is different to the strategy announced on the 1st Jan. Are you proposing that simply to avoid you feeling lied to, NUFC do not do what is best for the club? …
TOONPIPES(Quote)
Big Dave says:
July 8, 2011 at 23:15
DJG why include Chris Mort ?? what has he done for us ?
I think he was a far better chairman than Dekka and it was a shame that he left. But Ashley chose him over Dekka and I think people forget that.
DJG(Quote)
Yeah MA such a *****. Loans the club 100+ million and gets rid of all the ***** we had (Michael Owen etc). doesn’t try and buy friends/fans by making trophy signings that couldn’t give a **** about the club. Wants us to survive and not go bust. Gets 35 million for someone who wasn’t even top scorer in the championship and he still gets ****. Get a grip because if it wasnt for MA we wouldn’t have a club. I agree with the way the club is being run and will support NUFC for evermore. All you MA haters, start supporting your club and having a bit of faith. Getting relegated was the best thing that ever happened to us as it brought us back to earth with a big bump. Sorted men from boys and showed us we arent invincible. Up The Toon!!!!
andrew(Quote)
DJG Mort was part of the lies aswell so was just as bad, it was him that told the Fans that KK would have the final say on all players coming in and going out, the only difference was that he wasn’t as much of a nasty c@nt as Lambsarse
Big Dave(Quote)
Someone lends money interst free and shock horror occasionally expects some back – lets re-iterate takes back some of his own money!
Magtastic(Quote)
Big Dave – perhaps the board thought that KK was going to be able to have the last say on who was bought and sold … but then they realised that actually he wasn’t business savy enough nor in touch with the financial constraints of the club and therefore they changed their mind and decided he couldn’t make those decisions … can you not see any logic / reason behind that? … if someone at your workplace cannot do what you thought they could, or if you change your mind about their ability to do what you need, you don’t let them continue doing it … do you? i’m not wanting to open a debate about how ‘good’ or ‘bad’ kev was at the job, i’m talking about someone not being able to comply with some constraints that were set in place by the management in consideration of financial policy.
TOONPIPES(Quote)
“Wants us to survive and not go bust.”
AKA: Wants to protect his investment he made without taking due diligence. You make it sound like he did it out of the kindness of his heart!
“Get a grip because if it wasnt for MA we wouldn’t have a club”
How the hell do you know what may or may not have transpired? Those sort of comments always make me chuckle.
Chuck us over your crystal ball when you get a second pal
Moreno(Quote)
Why can no one catch on that its not the point of getting the money Ma loaned to the club back, but the Fact that the club are keeping it secret and stating that they are not taking money from the club 😕
Big Dave(Quote)
How ever he runs his business lies or truth, if it brings success to NUFC I will be happy. At the end of the day points, places and cups are what I’m bothered about not board room wranglings…..if we have some exciting times on the way bring it on…… Bring on the top ten next year and onwards and upwards…. TOON TOON TOON ARMY
Towser(Quote)
BD@171
It’s beyond me like 😕 Thought it had been spelt out in simple enough terms on numerous occasions. Including in the actual article.
Moreno(Quote)
Toonpipes its all old ground that was brought out in court that the club lied about KK having the final say, how can you trust a continual liar. I was told from I was young you can watch a thief but you can’t watch a liar, tell the truth and things can be sorted 😉
Big Dave(Quote)
at the end of the day, ash is not taking money out unlike shepherd and hall with their horrid divedends, we are signing quick, skillful players who will improve the team, we have a manaher who wants to play attacking football, we have nearly 50k fans at every game, can someone please explain to me what our problem is??????
craig(Quote)
shinton you are talkin shint pal
craig(Quote)
Dave, you continue to confuse a statement which reads ‘we are not taking money from the club’ and confusing it with someone taking back their own money, that was never the clubs money and was rather a loan to assist with addressing cash shortfalls – probably to pay current liabilities – wages etc …. technically the statement that money is not being taken out of the club whilst the loan is reduced is truthful. MA would only do that, if the club itself was generating enough cash flow to cover the current liabilities as otherwise he would only have to put it back in ..
TOONPIPES(Quote)
big dave – where do you think we should be in terms of league post next season, would love to hear?
craig(Quote)
ffs these accounts were published into the public domain in march, and its taken you until now to pick up on the loan repayments.
Where is the secrecy? Where is the lies?
Its all there in black and white.
Yous say things like “not bothered about finances so long as we improve the squad”
But yous are more bothered because we sold our striker and haven’t replaced him. yet.
If anyone seriously thinks Ashley doesn’t want his money back and has a plan to do so, then yous are all dillusional.
It would have been nice if Ashley were to write off that debt, much like manc city, chelski etc,but after the protests etc it was never going to happen.
He’ll be lovin it that you all have your knickers in a twist over this.
No one from the media has the balls to take the club to task over this tho. When pardwho gives an interview, where are the hard hitting questions?
Hmmmm. The sooner the debt is repayed the better, but answer this, how much money did sir JH and FF lose on NUFC? Nowt, they raped the club blind and walked away loaded. Not a word has been said against them. Why expect any different from MA?
Beardsleys Boots(Quote)
@ Craig
Exactly – the reality is we are potentially improving – what is the problem?
Magtastic(Quote)
Big Dave.
Would you expect a politician or a salesman to tell you the truth?? So why the hierarchy of a ticket sales driven business? Because it’s religion/football/personal and therefore different?? 😎
DJG(Quote)
Dave re: KK .. MA made a mistake signing a contract which authorised KK to take those decisions .. he changed his mind about KK ability to do the job he was contracted to do after the signing of the contract and therefore had to settle .. personally i wish KK had just agreed to do the job AP does now …
TOONPIPES(Quote)
@ Beardsleys Boots
Exactly!!!!!!
Magtastic(Quote)
Toonpipes- you didn’t answer my question but I’ll answer yours.
Of corse I understand if strategies change because of circumstances but that’s not what this is. I’m not even demanding that I know the strategy in detail.
But what has happened is that dekka has said Ashely isn’t being paid back his loan and painting him as some generous benefactor and that is a lie.
If they want to pay back his loan, fine.
If they don’t want us to know that the loan is being paid back, fine.
But don’t slap ever nufc loving supporter in the face and tell them bold faced lies.
So I ask you again. Is it a lie in your opinnion? Has the club be sneakingly misleading it’s support? And I’ll add another. Do you enjoy being mislead?
JerseyGeordie(Quote)
As a lawyer and a fan I often study the club’s statements quite closely and begrudgedly I have to say they are masterly works of linguistics and commitment sophistry. The sense conveyed is positive, but often sketchy on detail and expressed in precise terms that leave open the directions in which they want to take NUFC.
Matt Tom(Quote)
@ JerseyGeordie
So you would be happy if Ashley thought sod this for a game of soldiers and left? I thought not.
Magtastic(Quote)
Toonpipes – if you were hoying 300m quid of your own lowy at something, i,e one third of your total assets, would you not, maybe, not feel a little bit entitled to pull someone into line if they were going a bit of kilter with your business??
craig(Quote)
@ Matt Tom
As a lawyer do you think it is feasible that Ashley has a secret agenda to completely trash his investment by taking NUFc in a totally downward direction?
Magtastic(Quote)
Matt Tom – howay man pal what planet are you orbiting, lawyer or not, which is probably quite debatable, but hey ho, why on earth would the owners of the club have anything other than the best intentions for its progress? delighted to hear your thoughts pal???
craig(Quote)
Jersey, sorry .. my answer to your question was obviously too subtle .. i don’t know if it was a lie or not .. but i can reason that there could be circumstances where we were told the truth – that the loan was not going to be paid back …. or that we were told a lie and the loan was going to be paid back and we wouldn’t know about it … either way, the accounts were published and available in the public domain and i dont mean to do you and any other supporter down, but i don’t think spotting a re-payment showing in the accounts as requiring too much sleuth work .. and i don’t think that MA thought he would be able to stick it in and it not get noticed .. sorry that is preposterous .. ultimately i dont care if i was lied to or not – overall i think i would respect MA less if he couldn’t find a way to get his own cash that he has worked his a rse off back .. you certainly haven’t contributed as much cash to the well being of NUFC as he has ..
TOONPIPES(Quote)
Craig – i think you are agreeing with me – right? i’m saying MA well within his rights to do whatever he wants and that he quite right to take away KK privileges ..
TOONPIPES(Quote)
MATTTOM – sorry but that sort of accounting is quite commonplace and sensible given the line of business – wudnt you agree?
TOONPIPES(Quote)
I am a 100% toon fan and it sickens me to read such drivel from supposed fans I know Mike Ashley is a pain in the **** however no-one can argue that had he not stepped in when he had then this club would be in the **** and again no-one can argue that Ashley is taking this club forward and I for 1 am geniunely looking forward to this forthcoming season as an exciting prospect. I must stress that I am not a fan of FCB however I honestly believe we are moving in the right direction for a change and it may well prove to be a turning point for this club and it’s supporters and finally lift us up to where we belong instead of where we currently are as perceived by many other club’s fans as being deluded.
The Entertainers(Quote)
Toonpipes = at last someone who sees sense
craig(Quote)
The Entertainers – is the term FCB really necesarry pal? arent we just FGB;s?
craig(Quote)
“i’m saying MA well within his rights to do whatever he wants and that he quite right to take away KK privileges ..”
Doesn’t mean we have to fooking like it though!
We were here before him and will be after he cashes up and fooks off.
I don’t earn a lot but I spend enough on supporting the club and always will, so with your comment before of
“you certainly haven’t contributed as much cash to the well being of NUFC as he has ..”
– No I haven’t mate, but the reasons I have have been completely different. And I don’t expect a penny back either.
Moreno(Quote)
@ Craig
WTF is FGB’s??
The Entertainers(Quote)
I am guessing the word Gullible is the one we are looking for? 😉 😀
Moreno(Quote)
moreno – what or who do you actually want running the club like? there have been a whole host of dodge – pots running PL teams from abroad with awful consequences, we are doing OK I reckon, we have a good chance of attacking the top 8 this season, would you rather be a Leeds,. Pompey or Leics fan???
craig(Quote)
the entertainers – work it out man mate
craig(Quote)
so after all that, NUFC still owes Ashley £111M
I wonder how he expects to get that back if we are not being successful year on year. ❓
Some people wont be happy until MA is gone. Hope they aren’t holding their breath.
He will be here for at least another 5 yrs. But if during that time we have stability and improvement, how can that be a bad thing.
Get some perspective. This is NUFC, not manc city/chelski.
Stop worrying about the finances and channel your energies into supporting the Team. Thats all that really matters after all.
Beardsleys Boots(Quote)
Moreno dreaming of 1996 all over again – me too pal but times changed and Kev style didnt fit
TOONPIPES(Quote)
Craig – FCB or FGB prove me wrong pal!!
The Entertainers(Quote)
@ Beardsleys boots – brilliantly said mate, you are a breath of fresh air, ps did you know peter has an older brother called geordie who was supposedly a better player than he was as a youngin?
craig(Quote)
@ the entertainers – your missing my point entirely pal, the term FCB gets nobody anywhere, makes you look like a moron
craig(Quote)
Magtastic, Craig
I don’t think Ashley has any intention of trashing the club, whether he wants to keep it or sell it. I do think our recent buying and contract management strategy suggests a more long term approach, if anything.
Ashley is a businessman and will do businesslike things, but it’s aimed at achieving Arsenal-like stability and profitability. He’s stuck in around £200m more than he thought he’d have to when he bought us. He should have done due diligence on the acquisition and got caught out. We’re paying him back about 5% each year, which is entirely reasonable and it’s also interest free, so way better than any bank loan.
At the end of the day I loved the Shepherd era but the things Ashley has discovered, with the entire club being financed on the never never, makes me think we really would have done a Leeds within a few years. I don’t like this regime and their smart statements, but I’m OK with what they’re trying to do.
Matt Tom(Quote)
Great great blog toonsy & some Sharp comments from all.
Good to see many more realists as to the business reality these days & b4 I get my head bit off by Bobby et al,I’m no pro-ashleyite, but would argue for certain the club woulda gone into administration under FF. Purely cos he hadn’t predicted the financial crisis. The debt we’d accrued was such that the interest payments required & knock on effect of further debt necessary to roll over, never mind keep spending, would have resulted in a Leeds style firesale. Kinda what the govt daves now with even spending cuts only lowering the deficit slightly whilst the debt is still increasing.
Of course Ash made the prob worse with direct responsibility for relegaetion, but his deeper pockets allowed him to protect his investment by clearing bank debt & thus annual interest costs which were strangling nufc. Technically it is correct in business terminology to say that these payments against the loan aren’t going ‘out of the club’ but toonsy is bang on to raise it after Lambs statements when fans should not be expected to appreciate this.
GeordioCubano(Quote)
Matt Tom – you are in cloud cockoo land mate, talk of us living on the never never now??? who do you think signed m owen for 18m then put him on 20m wages deal????? we are now, finally, if anything, living within our means, the exact opposite of fat sheps never never model, your no doubt a nice kid but your ignorance astounds me
craig(Quote)
Craig – so someone who voices his opion is a “moron” then is he, well sorry for not following your limited point of view pal but I speak as I find.
The Entertainers(Quote)
Also we can even consider the interest free loans as better than that. With REAL inflation at 5%, the club is effectively getting a minus -5% interest rate! This also demonstrAtes Ash’s fair enough motivation to lower the amount so he can preserve the purchasing power of his cash he’s extended to nufc.
GeordioCubano(Quote)
the entertainers – no mate your totally entitled to your opinion but I would love to hear why you think referring to mike ashley as a fat cockney ******* – your term not mine, enlightens this debate by one thread????
craig(Quote)
Craig @ 199,
Who would I like running the club? Erm….what is this? A fantasy blog?
My aim on here is to create a bit of debate, cause a bit of a stir from time to time and generally enjoy the banter.
Getting into the whole Freddie Shepherd vs Mike Ashley debate is a no brainer for me. I enjoyed the football at times during the Shepherd era but also understand that you cannot live beyond your means.
I experienced this first hand as my old man was a Leeds season ticket holder and watched them go for Champs League semi’s to League 1. I have seen first hand how it happens and can vouch better than most.
I also have also seen and heard enough from the current regime to know I don’t trust them. I don’t care about freddie shepherd or the past, most of you’s live in the past and judge Ashley on another mans actions.
Yes he is better than freddie but their both dickheads (in my humble opinion)
Coming back to your question, who would I prefer ran the club? Someone who cares deeply about Newcastle United football club as an institution and not a business.
Moreno(Quote)
TOONPIPES
July 9, 2011 at 00:17 (Edit)
Moreno dreaming of 1996 all over again – me too pal but times changed and Kev style didnt fit
Funny you mention that actually as I have an article due to be posted at 7am which touches on that, the Ex-star Spotlight series is back with my favourite No. 7…
Moreno(Quote)
Fair enough – anything that makes us more attractive to a buyer
It’s one thing having a business plan but we need a football plan 🙁
Stevep(Quote)
Craig
Have you actually read what I said? I’m OK with Ashley running the club more sensibly than FF.
Matt Tom(Quote)
he appointed pardew to do his lieing 4 him and take his chips at poker at same time, i was talking to someone who has known chris hughton years and reckons ashley lost nigh on 100 million during his time in newcastle and wants to recoup this in anyway he can!!!! maybe thats why all the smokescreen and lies , go with ya tail between ya legs jabba this club is too big 4 u, u bitten off more than u can chew take a loss u are a bad business man, and bad for wor business!!!!
jam(Quote)
@ moreno – that is lovely mate “Someone who cares deeply about Newcastle United football club as an institution and not a business” but come on pal wake up and smell the coffee please, we arent living in some nicey nice world of fan co-ops unfortunately, the EPL is harsh world of billionaires only mate, and I think we could be alot worse off if you take a few minutes to look around other owners
craig(Quote)
hads there like Craig
CRAIG
July 9, 2011 at 00:14 (Edit)
moreno – what or who do you actually want running the club like?
Who are my options then if my previous answer wasn’t satisfactory?
Moreno(Quote)
@ moreno – fact for you mate mike ash, despite not living in the north east is by far and away the richest man who spends any amount of time in this area with a reported wealth of 1.3 bn quid, there are no geordie equivilents out there, no knights in shining armour with that sort of cash, get with the script man
craig(Quote)
Craig,
What the hell are you on about man?
I don’t care if he is the richest man on the planet if he doesn’t spend owt on us.
I would prefer Dave Whelen who has pumped over 100 million into a tiny football club in a rugby town, hasn’t expected or took a penny back and will sell the club for a £50 note.
A dying breed Dave whelen and it’s a bloody shame.
CRAIG
July 9, 2011 at 00:14 (Edit)
moreno – what or who do you actually want running the club like?
Again, I ask, who are my option then due to my answer not being good enough? are you telling me, in your obviously inifinate wisdom, there is no other option and it’s a trick question?
Moreno(Quote)
Wow…. ungrateful is all I can say.
He has pumped in a lot of money and prevented the side turning into a Leeds.
Dont see too many of you bloody whiners putting in 15% of your total worth into the club at interest free…When you do then say something of relevance.
Howay the Lads
Wiggsy(Quote)
WIGGSY
July 9, 2011 at 01:01 (Edit)
Best close this blog down then, every other blog, any comments on twitter or facebook may not be said.
No one must discuss it in the pub with the lads, or at match day or at work….
Get real you idiot.
Moreno(Quote)
moreno – your again missing my point, I dont see us as having any better options that ash unless you would prefer a foreign consortium come in like the venkys chicken merchants running blackburn or that carson young up in chains running birmingham??
craig(Quote)
Craig – Although I really do believe Ashley has been beneficial to our club despite what some of our fans believe to be the case there is no escaping that this man and his “management team” have made some absolutely **** decisions and one of those has been the contempt with which he has treat the supporters of this great club with. Any club, I don’t care who they are, must realise that their greatest assets are their supporters, by not communicating with the fans then any club would be seen as being arrogant. I am fully prepared to give Ashley the benefit of the doubt but this guy has genuinely hurt this club and made a laughing stock out of it’s supporters so many times that until he proves otherwise then he will remain a FCB.
The Entertainers(Quote)