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….
i cant stand ashleys face!!! i hate him so much!! he is just a fat weeble
Army69(Quote)
😕 stil nay news on erding or shane long 😕 why is it taking so long to try and get a player in ?? ahhh thats right cos ashley wont splash the cash
Army69(Quote)
Its difficult to be honest about dishonesty, the rare quotes that come from our MD are obviously well prepared company briefs, the saving till January was a howler but what about wages for new contracts over their term being included in the transfer fund?
If this is the case, theoretically the wages could be accounted and paid for 5 yrs in advance which would significantly reduce the operating costs, is that what they are up to?
Robert(Quote)
Apologies for the loss of site there folks. As you can see this article has been busy if you take a look at Newsnow which caused the site to crash. Traffic spike 🙁
toonsy(Quote)
Bloody hell so much news I have to catch up on, haven’t really read anything for days. Standard Ashley really, can’t say I’m surprised 😕
Newkie(Quote)
we are back
didnt think any diff they are born liers,they just feed us any kind of *****
pardews gob runs away with him too,not picking capt in few weeks then there you go,even said jose was 28,just opens his gob and out it pops,ashley must love him,folling the party line,”lies”
icedog(Quote)
MA is a *****.
😈
sirjasontoon(Quote)
TOONSY you sure ashley didnt spike you when he read it 😀 😀
icedog(Quote)
Whey!
Moreno(Quote)
Ice – To be fair I knew this article would be very very busy as it’s not been covered by anyone. Bit of a scoop really 😆
toonsy(Quote)
That was before Andy Caroll anyway. Silly article. The guy can take as much out of the club as he wishes. Its his club.
BLC(Quote)
I blame Moreno
toonsy(Quote)
TOONSY 😀 😀
Bit of a scoop really
par for coarse like 😉
icedog(Quote)
BLC
July 8, 2011 at 19:40
“That was before Andy Caroll anyway. Silly article. The guy can take as much out of the club as he wishes. Its his club.”
These are the accounts from March….. Even before Carroll went there was a plan to take money out of the club….. Strange considering such a big thing is often made of him not taking any money out of the club…..
toonsy(Quote)
Ice – Just a bit pissed off mate as it’s kind of ruined now. It’s lost the initial rush of a new article 😥
toonsy(Quote)
Ice,
I was sitting on the fence about it all until the summer came to see what our intentions were. Now it’s here I reckon I have a pretty good grasp on them and it just seems like we are being led down the garden path…once again.
The worst of it is, they reckon they can lie to us all and get away with it, they think their so clever and we’re so stupid we won’t twig on.
So many times as I have sat whilst certain fans have justified all these comments. Saving money for January. Money spent on training ground. Blah blah blah.
Funniest one is that the club are doing everything as a smokescreen so they don’t get ripped off in the market as everyone knows we have the cash!!!!
Brilliant.
Moreno(Quote)
report barca bid 10mil for jose,essian out for season,20/30 mil for tiote comeing i bet,ashley must be rubbing his hands,40mil for 10mil cost,he will take it the greedy git
icedog(Quote)
BLC
July 8, 2011 at 19:40 (Edit)
That was before Andy Caroll anyway. Silly article. The guy can take as much out of the club as he wishes. Its his club.
Aye true. Divn’t lie about it though
Moreno(Quote)
No impressed the site went down toonsy , I almost had to work 😀
When was that taken from tho? Sounds to me a while ago , it says £12.3 million is payable in Aug 2010. That suggest to me it was written atleast a year ago. Its not something I have thought about but Im sure Ashley will want his money back ( and rightly so ) at some point. If werent paying him back we d be paying the banks
Johno Toon(Quote)
well the sooner the fatman gets his money back the sooner he will be out, then we just have to hope that we get someone decent to buy the club 😉
Toonsy anyone can run a blog mate but not everyone can run a busy one 😉 you do know there is a solution to the traffic spike problem dont ye ?
Big Dave(Quote)
Just hate how the weasels just can’t play it straight.
The AC money will stay in the club … but the future broadcast income will leave the club and 12.3 M has already gone.
This is money Ashley lent to the club because his lousy management decisions got us relegated.
The lying, two-faced creeps.
Where’s all the amateur accountants now?
geoff777(Quote)
I wonder, if these were payments on a bank loan, is it still considered it “taking money out of the club”?
I guess I just view this as a loan repayment. I think we all assumed that he’s be taking a bit back on the loans each year. If he didn’t, then it would be a gift not a loan
MDS(Quote)
Dave – What would that be then?
toonsy(Quote)
im in shock
hitman(Quote)
No it makes a mockery of the people running the club.
We know he’s trying to claw back as much as possible before he tries to sell it. This will be to the detriment of the team and therefore the club.
Stuart79(Quote)
JT its just the bloody lies m8,and treating us as thick scum fans,
why not just call a spade a spade,then you dont have to make smoke screens 👿
icedog(Quote)
MDS – I don’t mind that. If he wants to start taking his money back then crack as he is perfectly entitled to do so.
What I don’t like is the repeated song and dance about there being no plan to take money back yet when clearly there is. We’ve had Pardew, Llambias and this source whoever he may be all say that no money is coming out of the club and how we should be grateful when it was all just a pack of lies.
I’d rather they just said that they are starting to slowly take cash back. It’s a lot more believable than paying wages years in advance or for training ground upgrades, which were supposed to be coming out of Ashley’s own pocket anyway according to the spin put on it by the club
toonsy(Quote)
Toonsy a new super duper server 😆
Big Dave(Quote)
Suppose they could be telling the truth about none of the Caroll money being taken out of the club, just using the cash from other sources.
Only bright side is, quicker he claims his loans back, the better and quicker the chance of the club coming under new ownership. Doesn’t help while we are waiting for and needing a new striker, but got to live in hope
Simon(Quote)
Toonsy @ 27
Perfectly put.
How can you out money aside for players who are unlikely to be there in 2 to 3 years anyway as our transfer policy is to buy to re-sell ?
Same as the putting money aside for January – all PR to tell us that they are not spending now. They’ll be another excuse in January too.
Moreno(Quote)
I really dont see how this is an issue. The interest free loans provided by Ashley was to cover the loans taken out by the previous board mainly Sheppard. These loans were to be repaid back at some stage regardless if it was too the bank or too ashely. He has not taken it from player sales. He is taking it from other income which would of been used to pay the banks in anyways.
Johno Toon(Quote)
Dave @ 28
I could tone down my marketing strategy a bit next time too 😳
Moreno(Quote)
Be careful what you print Toonsy !
Saw that NN had your headline up and then your site is blanked !!! Coincidence or what ?
If I were you I’d stop this anti Fatman reporting now otherwise you run the risk of your “undecided” posters making a decision that will upset the REGIME.
Advice from a seasoned veteran. Check your phone for “beeps”, Vary your route home – dont always take the bus and above all get someone to “taste” the kebab on Friday night !
You have been warned !!!
AndyMac(Quote)
thats it lads,as soon as hes gettin back his loans he will be off,and the nightmare will be over..
hitman(Quote)
Johno Toon
July 8, 2011 at 19:54
“I really dont see how this is an issue.”
So why do they make an issue of not taking any money out of the club? Regardless of whether or not it’s the Carroll money or not, it’s still money coming out of the club.
toonsy(Quote)
HITMAN why you in shock mate,you knew what the gits were aboot
icedog(Quote)
Oh Toonsy while I have your attention how do you change from the main site to the mobile one ?
It was only in the last couple of days, I was reading an article by Lambsarse stating that the Fat lad hadn’t took any money from the club and had no intentions to do so ❓
Big Dave(Quote)
JOHNO TOON
July 8, 2011 at 19:54 (Edit)
I really dont see how this is an issue.
Pardew – ““One thing I can guarantee, having spoken to Mike Ashley, is that every penny will go back into the club. Mike’s assured me he won’t take a penny out of the transfer.” – The Telegraph, 1st February.
Llambias – ““Mike Ashley has only ever put money into this football club; he has never taken a single penny out.” – The Telegraph, 2nd February.
Moreno(Quote)
Totally agree with Toonsy, he is entitled to take his money back but he cant neglect the playing side of things, and Toonsy the club never really tell us the truth about whats going on anyway mate.
Josh-NUFC(Quote)
Dave – 😆
Problem is that Newsnow is giving me summit like 600% more traffic. It’s manic to be honest lol
toonsy(Quote)
A bit of a damp squib your big scoop, Shockwaves hardly reverberating… 🙄
CC(Quote)
Well I agree with that Toonsy 100%. It’s their continued miscommunication and misleading statements, or Llabiase’s to be more accurate, that bother me- much more than anything they’ve done in regards to the club.
The logical meaning of “the whole 35M will be invested in the squad” (or whatever the quote was) is that the whole thing would be made available for transfers. Now it supposedly means fees, wages, re-signings, etc. Technically, he didn’t lie, but it’s still misleading as hell. Same with “Mike has no plan to withdraw any money from the club.” I undertsand a loan repayment technically is different from just taking money out as personal profit, but again it is misleading.
As you say, if they were honest about stuff, I don’t think most supporters would take any issue. I just don’t think it’s in the makeup of a casino operator to be straight with people.
MDS(Quote)
Hitman @ 34 I have been saying that all along 😉 and if he uses the £35mil to repay himsel that could mean he will be away atleast 6mths sooner 😀
Big Dave(Quote)
Kevin Keegan – “”I saw an interview with Alan Pardew where he said he hoped to get some of the £35m and I thought ‘Alan, you ain’t going to get any of that’,” February 28th – 😀 😆
Moreno(Quote)
Toonsy
Can’t you use a caching plugin/script to help with the server load?
Thanks for this article.
At least we know what the snakes are up to now.
I really hope this debt repayment makes us more attractive to buyers.
Hate them because it’s their fault for $hitting on KK and employing JFK and creating a horrible atmosphere with the fans that caused the relegation, which created the debt.
GET OUT OF OUR CLUB!
geoff777(Quote)
lets hope so dave
hitman(Quote)
Simon says:
July 8, 2011 at 19:53
.
Only bright side is, quicker he claims his loans back, the better and quicker the chance of the club coming under new ownership.
———————–
I made that point the other day as well. For that reason, I don’t understand why the people that most want ashley out are also the one’s calling loudest for the whole 35M to be spent on new players
MDS(Quote)
CC
July 8, 2011 at 20:00
“A bit of a damp squib your big scoop, Shockwaves hardly reverberating”
I dunno. Not many people knew about this and the reaction knocked the site down for three hours aswell as it being retweeted to thousands of people 😆
toonsy(Quote)
Toonsy – i like the site .. but to say that Ashley is taking money out of the club when the money that you purport is being taken out, and we simply so not know the whole truth, but if it is being taken out at you claim, then it is to pay off less than 10% of the total amount that is currently lent by MA to the club!!!!! that is called being paid back!!! If there was profit being generated and we had no long term liabilities then that could in theory be classed as taking money out of the club .. bottom line without MA we would have been screwed, i’d rather he was kept sweet …… and whilst we are on it, i would have found a way to swallow a slight re-naming of the stadium (would still want st james incorporated in there somewhere), if we could get gbp150mill like manciteh have ……. called moving with the times …
TOONPIPES(Quote)
Toonsy @ 35 but its money the club owe to its creditor that will and has to be re paid at some stage?
Moreno @38 from pardews comment no he hasnt taken money from Carrols transfer its coming from future broadcasting revenue.
To both Toonsy and Moreno ( and anyone else ) ,I do get what your saing its not a problem about taking the money out but their seemingly back handed way of doing it. . Maybe toonsy knows the answer to this but we dont know when that was written and as I said earlier it suggest it was written before Aug 2010.
Right Im finished work so prob wont be back on this evening , chinese take way n bottle of wine with mrs. Pity tho as this is shaping up to be a great little debate 🙂
Johno Toon(Quote)
Love reports like this. Stirs up the crazies and malcontents. I don’t think I would follow Newcastle if it was not so interesting everyday.
Just think, a new and improved team from close of last season and most of the lot have their shorts in a wringer about finances. I’m kind of hoping the Toon do splash on a big priced star who immediately turns into *****. Then listen to the howls!
BeeGuy(Quote)
Johno Toon
July 8, 2011 at 20:09
“Toonsy @ 35 but its money the club owe to its creditor that will and has to be re paid at some stage?”
Of course, and I’ve yet to say it’s really a bad thing. The point I’m making is that we;ve had it rammed down our throats about no money being taken back when in reality it’s been happening for over a year now.
toonsy(Quote)
Toonpipes,
I get all that mate, just think it’s further evidence of them:-
mis-leading fans / not telling the truth / twisting things to suit
Whichever of the above you prefer
Moreno(Quote)
Toonsy
Surely we knew this anyway, I mean if you lent a mate a couple of grand to pay off a debt you would expect it back.
CC(Quote)
Now it makes sense why the 35 million is paying for everything and we’d be broke without it.
Because money that would be put aside for transfers, wages and up grades is going back to Ashley.
So the 35mil IS going back into the club, but other profits are going back to Ashley.
I have no problem with that.
My problem is like Moreno said, they’re bold faced lying to us and making mugs of us.
They really are clueless if they thought they were going to get this past us. Maybe idle support elsewhere would believe it, but the toon army care to much about NUFC.
Great mutha flickin effort Moreno! BOOM!!!
JerseyGeordie(Quote)
Johno – That excerpt is taken from the latest accounts from March this year. They cover our season in the , but it shows that money was paid back at the start of last season and is due again at the start of this season.
toonsy(Quote)
CC,
Aye, but you wouldn’t lie to people and tell them he hadn’t when he had either 😉
Moreno(Quote)
CC
July 8, 2011 at 20:12
“Surely we knew this anyway, I mean if you lent a mate a couple of grand to pay off a debt you would expect it back”
Absolutley, I agree entirely, and it should be paid back. But I also wouldn’t make a song and dance about not spending a penny until I paid my mate back only for him to rock up at my house and see that I’ve been buying cars, TV’s and whatnot in the meantime.
toonsy(Quote)
JG,
You are on a ”BOOOM!!” mission today like! 😆
Great news about Colo everyone though? 😀
I hope we spend 10 million on Zog tomorrow to clamp my gob firmly closed! Not gonna hold me breath though!
Moreno(Quote)
Something somebody might want to check on- to be legally considered a loan , doesn’t the transfer of funds have to require some sort of payback provisions?
MDS(Quote)
Moreno, nice to meet you … bottom line is that we are all ridiculously passionate about the toon .. any angle to have a biatch and complain (cos basically all this stems from fact MA is southern and supposedly stitched up the messiah KK which again is a load of b*llocks), and we will take it – so the owners of the club (who want the club to be profitable cos as you all say they are greedy barstards), have to be seriously careful about what gets out – right or wrong – we never ever ever know the real truth becos it wudnt make commercial sense for us to all know why things are and arent done ……… so as and when they decide they will let things be known or not be known … think of it like when parents tell kids about whether santa is real or not .. sometimes it makes sense just to go along or change a bit or not …. cos we need to be profitable to survive and if MA is such a greedy ******* like everyone said he is, the only way he will make cash is if we are successful – whether he goes for No1 immediately, doubtful, but i reckon he would go for it eventually if he can …
TOONPIPES(Quote)
Toonpipes – Once again., I’ve not said it’s a bad thing. My problem is the fact that we repeatedly get it rammed down our throat that Ashley has not taken a penny out, whether that be for his pocket or for his debt.
Now whether it comes out of the Carroll money, the TV money, gate money, anything is irrelevant as it’s still cash that is coming off our balance sheet come the end of the year. It;s leaving less money within the club, which is less liquidity. Whether it’s taking money out or paying himself back doesn’t matter as the money is going from the cub accounts to his.
toonsy(Quote)
And despite what some of you seem to think it gives me no pleasure at all to see him treating the fans this way. I’m sure Bobby and Moreno and most of the others who have expressed similar opinions feel the same.
I think its a tragic situation but it won’t do any of us any good if people act like the 3 wise monkeys. Pretending he has the clubs best interests at heart won’t make it so.
I think its tragic because a sensible business plan that doesn’t spunk money on aged has-beens would be great and should be welcomed with open arms, but it MUST be coupled with appropriate investment or the club will always flounder and never find success.
I sincerely hope I’m wrong and they do show some ambition before the window closes, but the fact they consistantly try to mislead us and based on their previous track record I see no cause for optimism.
As George W. Bush once said, “Try to fool me once and more fool you. But fool me twice and erm, you, erm. No, I mean, erm More the fool me. Anyway. You can’t fool me twice”.
I think we can all agree with that?
Pootle(Quote)
JG agreed. they run the club fine now in my opinion (I know otehrs strongly disagree) but they need to just be hones about their plans/fiances. look at those new owners at LPool- henry’s answering questions from fans on twitter and granting interviews describing their plans detail. Some of that is what’s needed here.
MDS(Quote)
MDS
July 8, 2011 at 20:17
“somebody might want to check on- to be legally considered a loan , doesn’t the transfer of funds have to require some sort of payback provisions?”
“Repayable on demand” covers that in a very open ended way 😉
toonsy(Quote)
there is something weird going on with this Thread I blame the Fatman
Big Dave(Quote)
fkin hooray it lives 😆
hitman(Quote)
WERE ALIVE!!! I knew this thread would be canny, but to knock the site down twice in the space of 30 mins 😆
toonsy(Quote)
with scoops like this you’ll be taking over the NOTW 🙂 try and hack MA phone.. its probably just on a direct line to Greggs.. 😮
When will we ever get it into our heeds that MA is all about himself and doesnt care a thing about us and our club. We might as well just enjoy our football while he’s here.
I know his PR, shes worked with him for ages, she reckons he doesnt give a flying monkey what we think of how he runs his club.
mark(Quote)
It does at that toonsy, I’m just wondering if that is sufficent…
Dave @66- with a title like this one its surprising the whole worldwide internet didn’t explode.
MDS(Quote)
lol my pc has crashed twice trying to type a **** comment 🙂
I think Ashley is on to you toonsy, never question his Authoritah 😛
mark(Quote)
Mark – I’ll be clubbed to death with a Slazenger tennis racket in my sleep at this rate 😆
Luckily it will fall apart at the first strike though 😉
toonsy(Quote)
When will we ever get it into our heeds that MA is all about himself and doesnt care a thing about us and our club.
—————————
Does any owner really care about their club or its supporters through? I would say only to the extent that that they are necessary for revenues. He might not care about the club like we do, but surely the club’s success is to his benefit- even if that benefit is purely financial…
MDS(Quote)
Moreno- thinkin of making it my catch phrase. Thoughts?
JerseyGeordie(Quote)
lol it’ll disintegrate when it makes contact with air 😛
mark(Quote)