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 beleive fatty and lambarse would lair too us agen 😯 😯 😆
batty(Quote)
MsiDouglas Mark Douglas
Jungle drums down in t’Midlands seem to be suggesting Charles N’Zogbia to Villa, by the way.No change on #SAFC #NUFC position there it seems
6 minutes ago
hitman(Quote)
I see JG id ignoring me in favour of licking Moreno’s **** 🙄
Hi Toonsy how are you?
I’m fine JG, you?
😆 😆 😆
toonsy(Quote)
hitman
July 8, 2011 at 21:14
MsiDouglas Mark Douglas
Jungle drums down in t’Midlands
I thought he was on about me at first 😆 😆
toonsy(Quote)
I don’t care if he takes money out. It’s his money and it reduces the clubs debt. We’ve made some potentially great signings on the cheap so what is everyone bleating on about?
bkemp247(Quote)
Listen to all the doom mongers on here!
Hypocritical me thinks. 😉
Just what I’ve been saying all along and I’ve been slated for it.
Incredible. 😯
Bobby Shinton number 9(Quote)
Babby – I like to put a cat amongst the pigeons every now and again 😉
toonsy(Quote)
Babby? Alreet tootsy. 😛
Bobby Shinton number 9(Quote)
Just realized it’s Toonsy’s article… Moreno hyped it so much I thought it was his, sneaky fooker 😆
Great mutha flippin effort Toonsy! BOOM!!! 😆
JerseyGeordie(Quote)
Good god 😯
Genuine typo 😆
toonsy(Quote)
I take it my reality train is full? 😛
Bobby Shinton number 9(Quote)
Toonpipes @ 61
A very well reasoned point.
In the words of the not so great Ronan Keating though:-
“You say best, when you say nothing at aaaaaallllllll”
In other words, the club could say nowt rather than open a can of worms in the first place.
Hughton said nowt and everyone respected him for it. Yes it was frustrating at times but at least he wasn’t writing cheques his **** couldn’t cash.
just think they try and be cleverer than they are, I do agree with a lot of what you said though
Moreno(Quote)
It’s too late now JG. We’re finished 👿
😆
toonsy(Quote)
Toonsy – money is NOT being taken out of a business when debts are being paid off. money is being retained in the business when debts are being paid off as the nett value of the club will increase as the debt decreases. In addition the ‘liquidity’ you blv that business would benefit from by having this 12 mill ‘in the club’ rather than it being used to pay debt off represents a misunderstanding of the way this business will operate. The greater the debt the lower the ability to borrow from financiers/creditors. Fully acknowledge that you are not saying it is a bad thing, but the complaint is that MA etc said there would be no cash taken out of the club and yet you see a debt being paid off – is part of the misunderstanding of how any sensible business operates.
TOONPIPES(Quote)
@toonsy
Seriously, I had nightmares about that well known Japanese company last night!
I was back there and devastated! 😯
Bobby Shinton number 9(Quote)
I’m still getting used to this new mobile layout 😳
It’s mint tho! 😛
JerseyGeordie(Quote)
“including £16.5 million due after more than one year (see note 13).”
Where’s note 13 Toonsy? 😉
workyticket(Quote)
bobby iam stoking the engine as we speak 😆
batty(Quote)
Bobby,
when did you say any of this, stop telling porkies man!
Moreno(Quote)
@toonpipes
Is this money not going back to pay off the loan that Lambias has repeatedly said Ashley does not want back?
How it can be called a loan is beyond belief. I thought if he didn’t want it back it was a gift? 😕
Bobby Shinton number 9(Quote)
if ashley wants his loan back thats fair enough got no beef with that,as long as it dosnt effect us getting players in i carnt see the problem..
hitman(Quote)
Toonpipes – We’ll agree to disagree on it 🙂
The way I see it is that the club value at the min is the worth plus what the debt is worth. If you pay off a bit of debt the clubs become worth more but the debt reduces. The overall net is the same though and the only thing that reduces is the cash available to the club.
toonsy(Quote)
Toonpipes- there is no misunderstanding.
If you’ve followed Toonsy work you’d know he has a good buisness sense.
The problem is not with where the money is going, it’s that WE ARE BEING LIED TO.
And I don’t think that is ok, and the earlier analogy that it’s like parents lying to the children about Xmas, doesn’t sit well with me because I’m not a child who believes in elves and prefer not to be treated like one.
If they bold face lie to us about this, what other lies are there, or still to come.
Bottom line, it’s sneaky and we don’t deserve it IMO.
JerseyGeordie(Quote)
I think I personally paid back the loan meself last time I was in sportsdirect at the Silverlink. 😯
Moreno(Quote)
BS at 81. don’t worry, you get slated for a whole lot of other reasons too
MDS(Quote)
@Moreno
It’s everything I’ve been saying about the regime.
Untrustworthy, deceitful, money won’t be reinvested, looking only to sell the club at the first opportunity, taking his money back.
That’s all I’ve been saying from the outset.
I’m just surprised people are surprised by his actions. Then again I’m not. I’ve seen enough to know that the majority of people are apathetic, don’t think deeply and go with the flow, believing things will be rosy. 🙄
Bobby Shinton number 9(Quote)
I bet llambarse will say the money isn’t going to Ashley, it’s going to whatever group that was setup to loan the money, never mind he’s the fat controller of it…
I was already sick of him but now I want his heed on a spike…
JerseyGeordie(Quote)
toonpipes has been reet up ashleys keester from day one,so what ever bad things you say about the fat man will go reet over his heed 😉 😆
hitman(Quote)
@MDS
It’s who does the slating which doesn’t affect me one iota.
If it was people who were on the ball then it would be different but let’s be honest, they aren’t . 😆
Bobby Shinton number 9(Quote)
Bobby – nice to meet you .. sorry, i don’t know if Ashley has genuinely said he doesn’t want his money back – but i would be surprised if he had … and i would also be surprised if he was unable to change his mind anyway. Lets be honest, you don’t really expect people not to change their mind if the chance to recoup some of say over 100million has been lost – would you? … to me, and i have argued over the years with HITMAN about this on various blogs, the value placed on NUFC not going into receivership / administration wherein the sole objective is to pay off as many creditors as possible and sod the rest – which is what i blv would have happened if MA had not purchased NUFC, is well worth 12mill being used to pay off an external debt (cos that is what it is even if it is MA) ….. which will in anycase increase the value of NUFC and make us more attractive to financiers/investors etc all of which are required to enable us to buy more and more players ..
TOONPIPES(Quote)
Toonsy, where’s note 13? as in:
“including £16.5 million due after more than one year (see note 13).”
workyticket(Quote)
Just what is it actually going to take for all Newcastle fans to turn on these 2 parasites. How much longer can you take him? Lie after lie, money straight in pocket, promises broken, baffling descisions – Joe Fucking Kinnear etc.
If you want to be a Wigan then tolerate this ****** if you want to be an ambitious club then it`s time to unite against this *******.
Ash Ater(Quote)
Toonsy – nee dramas, nice one .. we will have to pay it off somewhere along the line .. we all want to just buy buy buy but not realistic in my opinion .. long term view; if we can pay off some debt incrementally makes sense ..
TOONPIPES(Quote)
Noo HITMAN! . .
TOONPIPES(Quote)
Worky – Note 13 says….
“The loan of £16.5 million from Mr M J W Ashley is secured on future broadcasting revenue and is repayable no earlier than August 2011”
http://img31.imageshack.us/img31/5749/note13.png
toonsy(Quote)
@toonpipes
I guarantee you Lambias stated early on that Ashley did not want his loan repaid.
As I say, why he called it a loan if he didn’t want it back was another Lambias faux pas and lie.
Bobby Shinton number 9(Quote)
Toonpipes.
I am not too fussed about buy buy buy, although it would be nice when you see other teams bringing in top talent!
I am realistic about our position and our recent history dictating how frugal we are….however…..
It really is just one thing after another. I don’t trust the board and any of their assurances.
As I said earlier, trust takes years to build, seconds to break and a lifetime to regain.
There will be only one party that gains from our club in the future and it won’t be the fans…in my very humble opinion
Moreno(Quote)
TOONPIPES
July 8, 2011 at 21:43
“Toonsy – nee dramas, nice one .. we will have to pay it off somewhere along the line .. we all want to just buy buy buy but not realistic in my opinion .. long term view; if we can pay off some debt incrementally makes sense ..”
Absolutely. I agree entirely. I’ve not said that paying him back is a bad thing as it was always going to happen. What my main gripe is that we get it rammed down our throats about net taking money back, all he has done is pump money in etc etc, when in reality he is taking it back. Great, but why not just tell us that, or say nothing at all?
toonsy(Quote)
JerseyGeordie – sorry if you didn’t like the analogy, possibly too simplistic, but the point is that doesnt make commercial sense and it isnt practical to keep the whole country fully appraised about what is going on – does it? or are you advocating a live feed to the boardroom so that we, and all of our competitors, can see what we are planning to do?
TOONPIPES(Quote)
Toonsy @ 112
For example:
“Llambias – ““Mike Ashley has only ever put money into this football club; he has never taken a single penny out.” – The Telegraph, 2nd February
Owlheed – Ye Twit te Who?
Moreno(Quote)
@toonpipes
It’s not a case of buying for the sake of it but it is clear that the Carroll money has nowhere near been spent, despite what the regime say, and we are desperate for a quality striker, right winger, right back.
Bobby Shinton number 9(Quote)
Moreno @ 114 – Yes exactly. I think even Ashley’s most staunch haters will realise that he wants his money back. They’ll probably even moan about it. But at the end of the day people don’t like being led up the garden path, and saying that something isn’t happening when it is is doing just that IMO.
toonsy(Quote)
I reckon toonpipes could be stardust. 😆
Bobby Shinton number 9(Quote)
“Llambias – ““Mike Ashley has only ever put money into this football club; he has never taken a single penny out.” – The Telegraph, 2nd February
——————
“…except the money owed to him” makes that statement a bit more accurate. don’t know why he can’t say that from the start.as most wouldn’t care a lick..
MDS(Quote)
Toonsy – as alluded to earlier, i’m prepared to permit MA a change of mind, and some re-payment of a monstrous loan, considering the alternative catastrophe we were heading for .. we brokered a hugely profitable deal on Carroll and as a result, personally blv we have a better squad, and we are potentially reducing our long term debt .. which remind can be called in at any time. The smaller that debt is the better cos if HITMAN has his way and seriously upsets MA and he decides to pack his bags and leave, we will be f**cked.
TOONPIPES(Quote)
I understand what your saying boys…!!!!
But lets give the man a chance, the club is on a sound finacial footing now, we are buying young players and the transter window in not closed yet!!!!
-OR-
lets go back to the good old day! buy old hasbeens for a fortune, get the club into that much debt we could go under and still win NOTHING.
Towser(Quote)
lads, you just cannit call re-payment of a debt as taking money out of the club – its a nonsense. There isnt any money in the club!!!! ITS GOT DEBT!!!! jeeesh
TOONPIPES(Quote)
MDS –
Exactly 😉
If they are honest we can whinge about it, but we would look a bit silly.
At least because they are liars it makes us 100% right about everything 😆
Moreno(Quote)
Toonpipes – That’s another thing….. There is only a plan to take the debt down to £111 million. That’s it….. Nothing further. Why? Why not just get a grip on shifting the lot 😆
Towser – But is there not a happy medium that could be made between the two scenarios?
toonsy(Quote)
@towser
There’s a balance.
Ashley on one side, Shepherd at the other. Somewhere in the middle would be nice.
Bobby Shinton number 9(Quote)
Towser,
Aye mate, although it would be class if we could sign Pardew’s mate Drogba and get lifelong fan Berbatov in. Still have change from selling Carroll!
“lets go back to the good old day! buy old hasbeens for a fortune, get the club into that much debt we could go under and still win NOTHING.”
Those days were more exciting though. 😀 Fook the debt, some other fat magnate will bail us out!
Moreno(Quote)
i dont buy into this ***** that the club would have went under if ashley didnt buy the club,this is just more ashley spin
hitman(Quote)
😉 what ma is doing is 100% right 4 nufc , stabilise the club, it will take 3 to 4 years b4 we see changes but when this plan works we will be back in the big time. Liverpool ave spent 70 mill on overpriced british players and that kind of spending wont last 4 ever . ma is a top business man , he knows what he is doing people. Wit and see
bj(Quote)
BJ
” it will take 3 to 4 years b4 we see changes”
Last time I looked it had been about 4 years since he took over.
Moreno(Quote)
hitman
July 8, 2011 at 22:06 =
“i dont buy into this ***** that the club would have went under if ashley didnt buy the club,this is just more ashley spin”
Disagree with that like. Not saying we’d have gone under, but view from many was that we were on the limit of what we could have done. Accounts back that up.
toonsy(Quote)
@bj
He made a huge change 2 seasons ago. He took us down to the ccc, for the first time in 18 yrs. 😯
Bobby Shinton number 9(Quote)
Toonsy I notice Worky is quick enough to ask a question but isn’t as quick at answering 😉 but then he is a Gutless Liar
Big Dave(Quote)
Toonsy am I right in saying that the club owes roughly the same now as it did when FFS was here ?
Big Dave(Quote)
fk me dave i was shocked when i seen his name,you would think he would comment on his own blog,considering its only just passed 100 comments the day like.. 😆
hitman(Quote)
Obviously. When we got relegated it was like the fruit machine paying out and now we are gonna have a couple of season where it is taking back.
DJG(Quote)
Yeh but Bobby it is entirely a matter of opinion as to whether MA took us down – so many people including Souness / Shepherd / Owen etc etc responsible – i would have thought that at that time MA was operating more like Shepherd, who you dream about, than at any other time …. but if you insist it is his fault, then it is undeniable that MA took us back up .. Leeds / Forest / Shef Wed / Shef Utd etc etc not so lucky …. before you say it was Houghton – it was MA who appointed Houghton.
TOONPIPES(Quote)
Dave – Nahh. The debt has gone up, but only because Ashley covered tge losses with his own cash. In a way, to stop the debt increasing we’d have to be run like he is trying to run us. That’s how I see it anyway.
toonsy(Quote)
toonsy says:
July 8, 2011 at 21:45
“Worky – Note 13 says….
“The loan of £16.5 million from Mr M J W Ashley is secured on future broadcasting revenue and is repayable no earlier than August 2011″
Thanks Toonsy, I’m not at home at the moment so I couldn’t check it.
It is a matter of record that Ashley would not seek to recoup any loan payments while the club were in the Championship. However it is already known that he would be taking his loan repayments if they were promoted back to the Premiership, with the money being repaid out of the extra revenue generated by the club being in the top division from things such as the TV revenue. It isn’t really a secret.
workyticket(Quote)
“It isn’t really a secret.”
Well someone should tell Dirty Dekka, he reckons otherwise (or he’s a lying ****)…as previously quoted.
Moreno(Quote)
Hitman @ 133 😆 he only seems to comment when they are having a Hooters Love-in, Pards bashing or trying to correct someone or put them down 😉
Big Dave(Quote)
Worky – Of course its not a secret. Its there in black and white. Contradicts what dekka has been bleating on about for some time though, even as recently as last week (I think)
toonsy(Quote)
fk off back to your own blog ladyboy,or is it to dead there
hitman(Quote)
I’m just saying give the man a chance. He started with nowt like the rest of us, the difference is he’s sitting on a privet yacht or plane while we’re talking about him….. he mush know a good thing when he see’s it ! you dont make all the money by being daft. lets hope his plans work out and if the money is being spent on wages and upgrades then that will be all the more we can have for player in the furure. Long live NUFC because if it does work the future looks good and the last 40 years supporting then may let me see us win something. twice at the FA cup final makes for a long train ride home…
Towser(Quote)
We don’t care you ***** stirring weasel Ashley is our Saviour/Messiah please deal with it.
If it was your money as a real fan with a brain what would you do?
Please concentrate on positives unless you really support 5under1and
Really it’s a shocking excuse for support please get a grip.
Like most on the WWW you are more interested in your attention seeking opinion than whats right please encourage the opposite
whoarya(Quote)
Weasel 😯
Meh 😆
toonsy(Quote)
He is the Messiah!
No he’s not! He’s a very naughty boy!
Moreno(Quote)
Kallm down!!! Kallm dowwn!!! 😆
DJG(Quote)
Toonsy…ya weasel, mail 😉 😆
richietoon(Quote)
Hitman – Be civil please mate 🙂
toonsy(Quote)
I quite like Stoats and Weasels, funny little things. 😀 I could think of worse things to call folk. 😈
DJG(Quote)