Some very interesting documents have emerged from Companies House today, revealing an intriguing move made by our new owners as we approach five weeks of the summer transfer window.
Documents reveal that we’ve asked for cash due from the Premier League for the 2022/23 season to be paid up front after signing off the right to money to HSBC, in return for a credit facility.
In summary, it simply means we have asked to receive our Premier League money now in order to (potentially) spend more this summer. This could be a shrewd move which would make plenty of sense while we wait for a new lucrative sponsor (expected next summer when the FUN88 deal expires) to fund transfers in the future.
After struggling to land our top targets in attack over the past month and seemingly underestimating how expensive such players would be, it would make sense that we are looking to increase our budget.
Without the financial backing of a new sponsor – so far the only commercial boost we’ve received is from Noon – it was always going to be difficult to work within the restrictions of FFP while also dramatically improving the squad.
So, hopefully this means our transfer activity will soon ramp up and we can ideally get in at least another couple of attacking players to reinforce our front line and settle the nerves of some worried supporters.
I think you have completely missed the point of Newcastle taking the loan from HSBC.
If we wanted to buy a player before the loan we just turn round to PIF and say give us the money. PIF would then stump up the cash and get it back once the Premier League payments are made.
All they have done is tell the bank “if you give us the money now we promise to give you the Prem money when it comes in.
There’s no “extra” money. They’ve just replaced PIF with the HSBC. Its a means to sorting a cash flow problem, which we didn’t have, but it looks better to the outside world that we are using banks to fund our habit, rather than our Saudi backers.
You seem to have completely forgotten that cash at Newcastle is not in short supply, and conveniently forgotten that we are already 150 million in the hole.
Daveys **** mate(Quote)