Ashley’s rescue package?

Posted on February 21st, 2010 | 128 Comments |

Ashley: £25 million cash injection?
Ashley: £25 million cash injection?
In a somewhat surprising article in todays News of the World, it has been revealed that our illustrious owner, Mike Ashley, has stepped into the breach during December, loaning the club another £25 million to keep it a going concern. Now this is from the News of the World and huge pinches of salt are required as this story also features our old friend ‘the club source’.

Apparently this money has been given to us on in interest only basis to help pay the wages and cover the general day to day running costs of Newcastle United. It has been said that some of this cash was used to fund the purchases of January signings Danny Simpson, Leon Best, Wayne Routledge and Mike Williamson. Now I’m going to start running through the article so sit down for club inside knowledge and sensationalism. The ‘club source’ said to the Sport of the World:

“Mike Ashley did not want people to know about the loan. If he had not done it, who knows what would have happened. Mike has comitted more money to the club. It is a secured loan, interest free and it had to be done.”

Sounds scary doesn’t it? The source continues by stating the problem that faces heavily financed clubs such as Manchester United and Liverpool, and how our friend Mike stepped in to save us from following that path. The source said;

“The only other option would have been to arrange an outside deal and the interest rate would have been around 20 per cent – which means you’ve lost £5 million right away.”

“There is a shortfall of about £50 million because of relegation. The club had to bring some payments forward.”

Does this mean that this loan is only over a year? If that isn’t the case then when will the club be able to pay Ashley back? Or does the fact that the loan is secured mean we are effectively mortgaged to Mike Ashley? Either way, relegation is a mess Mike Ashley made for himself in my opinion, be it through poor advice or poor decision making. I will however give Ashley some credit for trying to put things right, and as has been said before on here, relegation could be the blessing in disguise this club needed to get back on an even keel financially. The source continues by explaining some of the reasoning behind this extra loan, adding;

“All the previous sponsorship money was spent on the Michael Owen deal before Mike Ashley even bought the club. That deal cost Newcastle £44 million. The TV money went with relegation, the retail income has gone and the commercial income is cut.”

Unfortunately, such is the cost of relegation. We’ve seen in the past how relegation from the money spinning Premier League can ruin a club. Suddenly all that money that was counted on is no longer coming in which leads to cuts in staff both on the pitch and off it, something Newcastle United have experienced in the past few months. Some will argue that although we have lost around £35 million a year off the wages, we are in better shape becasue of it. Others will point and say that we wouldn’t have been in the position of losing our Premier League status had our owner speculated to accumulate last season and bought in some players that could have chnaged things around.

Esentially though, the cleansing of deadwood such as Michael Owen, Obafemi Martins, Mark Viduka, Damien Duff and others had to come eventually. Our wage bill is still huge in comparison to most other teams in The Championship and matching up against a fair few teams in the Premier League, but it has been halved from the end of last season.

That is the one saving grace for me in relegation and the mess that followed. Ultimately as a club, we were spending on the credit card with no guaranteed means of paying things back. We got away with it for so long but ultimately we were always going to get caught out. We’ve just been lucky that getting caught out came at a time when we had an owner who can afford to put things right.

Sure it’s great to spend millions on players and wages and being able to watch the best of the best strut their stuff on a Saturday afternoon. In the real world though, those type of players will probably be beyond us right now, and it’s those type of marquee players that underperformed last season and nearly caused a financial meltdown that may have left me with without my home-town team to support.

Look forward 3 months and imagine we do get promoted. Back in the Premier League with all that money coming in, and comparatively very little going out on wages. We could be in a strong position, paying cash up front for players whilst others struggle to find the cash to finance deals over x amount of years.

We can only dream eh?

Of course much of this is speculation that will only be confirmed when the club publish the accounts, something I assume workyticket and Stardust amongst others are eagerly awaiting so they can see if the figures stack up.

Anyway, let’s live for the now. We are top of the league!

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NUFCBlog Author: toonsy toonsy has written 643 articles on this blog.

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128 Responses

  1. This isn’t news – The club said in their statment in October that Ashley was taking the club off the market that he was to invest further funds.

    IMO this is just Ashley’s people regurgitating the same news so people don’t forget.

    Fair play to him though – His interests are the same as ours.

    Although I would bet a million quid that there is absolutely no comment about this from NUST. I would be interested to know their views on this.

  2. Stu – Apparently this is extra to the £20 million a season that has been promised.

    It akso says we are still awaiting money for the Bassong, Martins and Duff trnafers to the value of around £9 million.

  3. Rangerman – A point that can only be categorically denied when the accounts are out even though most of us know the £7 mill was pure tripe.

  4. toonsy says:
    February 21, 2010 at 12:42 pm

    In October the club said he was injecting more money into the club to help with the running costs.

    This latest story is talking about the same injection of cash, just reminding everyone what he has done.

  5. mike ashley is a proven liar and admitted lying to the fans how anyone on this forum believe the guy should be ashamed

  6. martins 8-10 mil duff 4-5 mil bassong 8-10mil given 8mil millner 12 mil charlie boy 6 mil were has all this money gone! if he says newcastle dont owe anything then why is he putting money in with are wage bill that has been havled! with 40,000 plus this season that is 25 – 30 mil in rev and that doesnt include tv money or 12 – 25 mil which we will get from prem for going down! so are wage bill would will be covered. why hasnt are accounts been told to us for a year and a half.plus we have money coming in for the players sold nothing going out.

  7. here here DAVE,as asim says why does he tell us where the money gone that came into the club,all he says is he put 20mil into club,

  8. dave says:
    February 21, 2010 at 1:01 pm

    “mike ashley is a proven liar and admitted lying to the fans how anyone on this forum believe the guy should be ashamed”

    Dave, you don’t have to “beleive” him, just make a balanced judgement based on substantiated evidence, including audited accounts of the club, which have to be published annually by law.

  9. all a load of bollocks and propaganda by ashley again. So if this latest is proved to be true, the turd has now had to pump 45 million into us so far this season alone – WOW, thanks mike. If this is true though, why did Mike ashley fail to sell the club to barry as he was only ten million short on the asking price of 80 million? why say no to a ten million less deal and then go out and spend 45 million? Even for us geordies that works out to 35 million of a needless spend when he could have got shot of the club if he had wanted. For a bloke that hates keeping us and is always pumping money into us, i wonder why he is so keen to keep us?

  10. worky… his audited accounts can be stretched in any direction the bloke wants in order to avoid income tax payments. Its like anything else, anyone knows if you have a rental property for example, at the end of the year and you end up showing a major profit the tax man takes his rather large cut. So what do we landlords do on the advice of our accountants… we try to spend as much of the profit as possible and show a loss. A new patio, a new kitchen etc. Mike ashley bounces money all over the place to make things look a lot less healthy than they are. now this makes sence. i just wish he would keep his gob shut and get on with it instead of trying to pull the wool over our eyes (and judging by some of the bloggers he has done it).

  11. worky – while we may be in a better position to judge the financial mysteries based on the published accounts, though they’ll only tell part of the story, surely you concede that the elements of distrust and deceit aren’t just down to local bias and prejudice?

    He made for a rod himself and continued to show contempt and disrespect for the most important part of a football club, the supporters. He lost respect and trust in doing that and is it not just human nature, that it will take a good while for that to be addressed?

  12. not my eyes CRAIG c,sorry but i can never trust a guy that that will lie,and lie again to cover up the last lie

  13. Bowburn,

    Do you not agree that it was his friends/employees who have let him down?

    I’m beginning to think that his only real mistake was employing them when they were quite clearly inexperienced and couldn’t do the job he was asking.

    He has in some respects been the model owner – Employing people to run the club and keeping his nose out of the football side if things.

    Although ultimately he has to take responsibility for the problems because although they might not have been caused by him directly, he has caused them indirectly by employing the wrong people.

    Bet QPR fans wish their owner kept out of the football club decisions.

  14. This trust issue is becoming tiresome. Did we trust Shepherd? Hall? McKeag? No to all of them and probably more before my memeory kicks in.

  15. What do you mean where has the money gone from transfers? We were in massive debt we owed clubs money for transfers from years ago, you revenue is halfed when you go down but the club was running on prem finance! Don’t think for min Ashley is making money from the club. He is making a loss but us stabsluseing a club wrecked by sheppard and his lavish spending! Hopefully Ashley will stabilised, get promted then get out making a small loss.

  16. Craig, I’m not pro-Ashley. In fact I have been just as critical of him in the past as others have.

    Ask yourself this question. What would happen if we got relegated with Shepherd in charge?

    As for why Ashley didn’t sell, that I don’t know, I am not Mike Ashley. It does beg another question.

    If Moat really did have the money, how come he couldn’t find the extra cash?

    Do you also know he hates us? I think your just assuming that as it suits your argument.

  17. toonsy says:
    February 21, 2010 at 2:09 pm

    “Craig, I’m not pro-Ashley. In fact I have been just as critical of him in the past as others have.”

    Toonsy, you’re an Ashley supporter AND a Mackem. Live with it! :-)

  18. worky – Despite being a geordie myself I am starting see a problem that has been levelled at us many times times.

    We always need someone else to blame, nothing is our fault and we get picked on all the time.

    I think that is becoming a problem, more than it has been.

  19. of course he hates us. we are nothing more than a money launder toy for him between companies. so if he wanted to sell for 80 million but has since had to pump 45 million in, he could in theory have sold up for 40 million and be in no worse a position than he proclaims he is in now. agreed? So, this being the case and he has pumped 45 million (not a chance) this season, why did he not sell instead of according to him, keep on pumping money into the bottomless pit that is nufc? None of it adds up. if you had a company that loses money as quick as what he would have us believe would you not get shot of it asap?
    We are still getting massive attendences, second highest in uk i think yesterday. our wage bill is high compared to others in this league but then again out gates are 10 times the size as some other clubs in this league too. we have made good money on what he has sold, infact, to this window, the figures put ashley in credit by about 2-3 million from what he has sold to what he has bought. With this last window i would say we are about even on that one now. So, these being facts it is safe and accurate to say that ashely has not spent one penny on players in the three years that he has had nufc. We were 80 million in debt when he bought us with half of that being the stadium. so that could mean we had 40 million worth of debt on players etc. How much did we spend on average a year on players before ashley came in? i am not sure burt i would guess around 30 million a year. So we were spending this kind of money year after year but only had 40 million worth of player debt? In three years since ashley has had us he has spent ZERO on players when our previous regime would have spent 70-100 million in three years. In this time he has reduced our wage bill, slashed 1/3rd of none playing staff and increased gates fees by 10%, that coupled with the higher tv revenue year on year until this season. WHERE IS ALL THE MONEY GOING????

  20. toonsy says:
    February 21, 2010 at 2:23 pm

    “worky – Despite being a geordie myself I am starting see a problem that has been levelled at us many times times.

    We always need someone else to blame, nothing is our fault and we get picked on all the time.”

    Ausländer raus! Or as SJH put it:

    “The Geordie nation – that’s what we’re fighting for. London’s the enemy. The South East’s the enemy. They hate us!”

  21. YOU FAT B*STARD,GET OUT OF WOR CLUB,AND ANY CASHLEY FANS SORT YOUR HEADS OUT,AND LOOK AT WHAT HE HAS DONE TO OUR CLUB AND THE WAY HE HAS TREATED US FANS!

  22. So Craig, as a club in the prem we had a turnover of £100 million, £70 mill on player wages, plus everything else on top.

    Where was Shephard getting the £70-£100 million that we would have spent on player in 3 years?

    Of course, some of them players were major successes weren’t they?

    Boumsong
    Bramble
    Luque
    Owen
    Martins
    Duff
    Marcelino

    Among many many others.

  23. Craig Chisholm

    I cant be bothered to dig out all the figures. Do some research and you will be able to answer your questions.

    Stop being so childish with comments such as ‘anyone who supports ashley is a mackem, simple as.’

    We are not all driven by the kind of prejudiced, jaundiced nonsense that some of our so called supporters are. Try to have some kind of perspective and see the bigger picture.

  24. toonsy, your arguement is not the point, all the players you mention were shit for us i agree…. whats that got to do with anything?? The point being that when we had 80 million of debt more than half was on the stadium – correct – even you must agree on this. that means we had 40 million worth of player debt – also agreed? if we were so far out of control, how come we only had 40 million worth of player debt? We had the ability to back our managers by huge amounts of money year after year but the debt never got any higher than 40 million(ish). Do you see my point? This means that maybe we were not generating as much in income as what we were spending but it also means that after many years of spending money like water – and many of those years in a smller stadium with smaller tv income by multi millions – but the debt was only increasing by a small amount year on year. So ok, maybe we should have spent less on players i agree but….my whole point is ashley has NOT SPENT A PENNY on any players in three years. every purchase has been offset by a departure. In this time his tv money has been the best, he has increased season tickets by 10%, slashed 1/3rd of none playing staff and cut every possible corner he could to save a buck. And of course you have to understand and also agree that we may well have had 40 million of player debt those same `shit wank players you mention were assets all the same and held a value too. Ashley has sold 20 millions worth of players in this last window alone – that is half of the 40 million debt he had inherited on players, and thats not including 12 million on milner alone too, theres 32 million of recoup. He then replaces with shite on lower salaries… dont you see the arguement? Now he may well have less debt (or he may not, who the f**k knows really other than ashley and his team of corporate accountants) but he also has two bit players that are worth nothing. Everything is relevant. You can only get out of it what you pyut into it and ours spurs supporting owner has invested NOTHING in players.

  25. Hmm ! Did`nt realize we had so many accountants quoting so many opposing (facts), none of which are substantiated of course, mostly either supposition or speculation.
    With Mr Rider leading the anti Ashley crowd with figures as speculative as his recent price quotes in regard to the attempted sale to the oil rich UAE guys.
    On the other side we have the Ashley apologist`s with Mr. Toonsy as spokesman and Workey staying on the sidelines, taking the role of moderator.
    Of course we have yet to hear from that Ashley`s most vociferous spokesperson Angeldust, stay tuned.
    We are about to repeat the same old same old arguments we have gone through since Mike Ashleys tenure here.
    Dont know if I can take another dose of that right now so Gonna watch the Citeh vs Pool game,
    Later !

  26. chuck says:
    February 21, 2010 at 3:13 pm

    “Hmm ! Did`nt realize we had so many accountants quoting so many opposing (facts), none of which are substantiated of course”

    Chuck, I think you’ll find that some of them ARE substantiated.

  27. That Bristol City winger looks a decent player. He has bags of pace and he’s ran their fullback ragged all day.

  28. Chuck – So because I can see the argument form both sides it makes me an Ashley apologist? Your a confusin tw@ aren’t you?

    Craig – I do take some of your points on board, honestly I do. I don’t know what has happened to any money, neither do you to be fair.

    Answer me this though? Where would be with Shephard in charge after being relegated?

    Bristo City 2-1 West Brom :lol:

  29. Tell ya what, wish I had never bloody written this ‘blog now. :D

    I only wrote it becasue you guys were talking about it, now I’m getting called an apologist, and a mackem? WTF?

  30. BORING!!!!!!! All speculation and guess work… No onebwill ever know what hes invested how much he loves us or hates us, blah blah blah blah… get behind the team and crack on!
    Howay the lads!

  31. toonsy – try being yourself instead of what you think worky wants you to be and you’d get more respect.

  32. toonsy says:
    February 21, 2010 at 3:18 pm

    “I don’t know what has happened to any money, neither do you to be fair.”

    Toonsy, You can get the NUFC accounts every year from Companies House.

  33. i think with FF in charge we would would have done the same thing as we have just done, sold all the assests and reduced the debt. i do not think that we would have been relegated under FF’s charge tho. ashley came in (and no matter how good his intentions were or were not) – he went mental and destroyed so much of our fibre, club and city within 18 months. We have slid from a decent and solid prem team to a global joke. Before he gave the job to joke kinnear he offered it to 27 real managers. they all said no, huge names such as wenger and sir alex, sir bobby etc etc, all condemnded ashleys regime. Now you may all be right, i might be talking out my arse but the entire football world also agrees that ashley has destroyed us and for what??? so he can maximise profit. Its an old saying – you dont buy a football club to make money. Its also a fact that 2 3rds of all clubs on europe (not jsut the prem) make an operating loss, year on year.

  34. Is it not fair to recognise that just because Ashley is no worse or arguably better than Sheperd and previous regimes, depending on your views, that there can still be a trust issue?

    I’d like to think we can have an owner who’s intentions are laid bare and who’s actions do not constantly contradict his plans and promises. Potentialy, an owner who is honest and trustworthy, or am I asking too much?

    If Ashley becomes that man, then so be it, but I believe I’m justified in thinking he has a long way to go to prove he is that man.

    Bristol 2-1 would be a cracking result though, eh?

  35. Hi craig just to add a bit more transfer monies to your reply. you forgot to add in the given 7m and nzogbia 6m in to that equation so that when its all paid upto date as i believe not all tranfers where paid in full and we are still owed some for given milner and charlie to over 44m so in my estimation the 40m debt should be cleared and lets not forget the 30m we got parachute payment for relegation from premier good home gates and we have been live plenty this season more than any other championshio club with many in the future must be worht a few bob.
    geremis wages of 58000 a week which has now gone probably pays for williamson routledge and bests wages witha bit to spare so one out and 3 in not bad going

  36. Roy – Try banging a bird and not a cross-dresser, like Hayley wants you to be.

    If you clamour respect from the internet then I guess that is pretty sad Roy!

  37. toonsy says:
    February 21, 2010 at 3:29 pm

    “Roy – Try banging a bird and not a cross-dresser, like Hayley wants you to be.”

    Toonsy, Hayley had the full ‘cut ‘n’ shut’ in Amsterdam years ago, so she’s a ‘post-op’ tranny now, not a ‘crossdresser’. ;-)

  38. That Mattock has had a horrible afternoon at LB for WBA today. He’s been toasted by thay young Haynes lad and now Sproule aswell, he’s just getting left behind.

  39. Craig Chisholm

    ‘deb – pls go away or answer some of my questions’

    Craig it seems you have all the answers already and you won’t listen to anything else that doesn’t support your jaundiced opinion so what’s the point. I have better things to do than rake over stuff that has ben documented many times before. Your anti Ashly vitriol speaks loudly for how objective you assess some of the information that’s out there. If it doesn’t support your argument you just ignore it and swallow some of the crap that has been spouted over the past 12 months. That’s your choice but please don’t expect people who have a more reasoned view to accept your silly comments such as ‘you must be a mackem.’ People like you are what makes this club a laughing stock. People like Fat Freddy and hs side kick who were taken in and insulted New castle fans and geordie women. You didn’t bother commenting on that so am I to believe you found that ok? As long as Fat Fred was presenting gullible supporters with an over the hill has been every year who was also milking the club dry it was ok? You need your head examining. Take your blinkers off and smell the coffee. All of our owners have done many things wrong, but the one thing I believe is that Ashley has not made money owning Newcastle United. If you’re so intent on believing people have fleeced Newcastle United, look at the main culprits Sir John Hall and Fat Fred. I can’t remember the last figures I saw but for a 2-3 million investment Sir John Hall made something like £70 million out of Newcastle United and ran for the hills when it was about to go t*ts up. Fat Fred while he was clinging on to power had spent everything, all future sponsorship money everything, there was nothing left to hock. Left under his stewardship we were already relegation fodder and worse. yes Ashley’s decision’s probably accelerated where we were heading but at least he has used his own money to bail the club out more so than our fellow geordies Sir John Hall and Fat Fred.

  40. Get in Bristol. Massive favour from them, thats us 5 points clear with a game in hand over WBA, 6 clear of Forest.
    Toonsy-No idea RE Mattock, but if he has, today wont have made him feel any better, he’s been absolutly rinsed, lol

  41. Toonsy
    Just could`nt resist it.
    I know you are not an Ashley apologist and in fact try to be fair-minded, got too much sensitivity, got to be more thick skinned if you want to do this pard.
    It`s only banter after all !

  42. Workey
    Half time, erm exactly who`s figures are you referring to as believable?
    And you know who the real enemy is, it`s those suvern, cockney barra boys, the suvern press etc., kidding, but why are you so sensitive on this particular issue, something about being a plastic Geordie is it ?

  43. All this anti cockney, sutherners, media stuff, everyone unless their a geordie is just pathetic & only makes toon supporters look narrow minded and sad. We were royaly screwd by the halls & shepherd, its time to move on & look forward not back.

  44. Do not think that Ashley would like the club’s best .. the only thing he thinks about is money, that we should all have to understand at this stage .. He has lied to us before and will do it again .. the sooner he leaves us the better for us.

  45. no deb, its not people like me that make us a laughing stock… its people like me that buy four season tickets a year to support the toon even though ashley is a twat. not like you armchair lot. with ref FF slagging down the geordie girls, bit below the belt but at same time, it has nothing to do with what is going on now, besides my ex wife was from shields and she was a nightmare so i will take the 5th on that one too!

  46. Must say Ashley looked elated following the win, got a feeling it may be a long time relationship between himself and the club, so y`all regardless of your feeling`s to-wards him, better get used to it.
    Entertaining but scoreless game between the Pool & citeh,Spurs and wigan just started, later.

  47. We aren’t armchair fans Craig. Both Deb and I go to games. If you feel so strongly about Ashley then why are you lining his pocket? I don’t, I only go to away games and have done since the summer. He gets none of my money because I dont want to give him any, yet I’m an apologist? Go figure!

  48. Anybody else notice that there is no sign of Ashley and Lambias when those two Magpie mascots are on the pitch?

  49. Toonsy, comment 50, what Chuck said comment 71. I was going to say same.
    As far as Ashley is concerned you are going to get stick if you praise him or slag him, just keep writing the articles and duck back into the trench. ;)

    Is that an old picture cos isn’t that our ex sicknote behind him. Also is Ashley a mormon, cos if they are his wives then you can see where the money is going, lucky b£stard. :)

  50. Willy
    Eh ! things could be a hell of a lot worse.

    Looks like Wigan got about a crowd of 20, sad , cause they are not a bad side, with a coupla Central Americans, the young kid McCarthy (who would have been a good buy for us)
    And of course N`zog.
    Dont get it, teams like Hull, Wigan, Stoke surviving and what about Everton with their youngsters, kicking ass and taking names, go toffees !
    The common denominator none of em got big bucks, but unlike those who spend (and owe)big time doing ok.
    What does that say about us with crowds just under fifty thousand in the second tier, a future powerhouse when promoted, eh!

  51. Stuart79 says:
    February 21, 2010 at 3:43 pm
    I notice Crapper is talking Crap again?

    Can someone unplug him please….

    spew – hilarious ! youv’e missed your vocation in life , you should’a been a stand up.

    fking prick.

    toonsy – chuck’s right your such a sensitive soul , for someone that spends the majority of his time on here you’ll need to toughen up bonny lad.

    no more sly digs from me until youv’e sorted youself out.

    :)

  52. toonsy, i thought long and hard about renewing, really i did. i figure i will be around long after he has done one and i was around long before he came too. i think that hating ashley and standing by the team is a hard one to decide what to do. just wait and see, if we go up up will bump the tickets up by another 10% – that makes an increase of over 20% on what i was paying for before the fat knacker turned up. oh yeah, he bought us all a free beer once!!

  53. Royston – ;)

    Craig – “I’ll be here long after he has done one” is exactly why I no longer go to home games.

    I’ll be back at SJP when he has gone. I’m making a stand that I don’t agree with some of the things Ashley has done. It’s a hollw stand though when 45,000 others turn up churning their money into his pocket.

    That is a decision I took in the summer that I stuck by. A decision to not go to my home-town teams home games. A decision I have stuck by. It’s been hard don’t get me wrong but it makes me feel better.

    On the other hand, I can also give credit where it is due and Ashley is giving the necessary backing (however much it may be?) to get us back to the premier league.

    In my book this doesn’t make me an apologist, does it?

  54. another day,another michael james wallace ashley debate,regardless of what has went on in the last 18 month,i would personally like to see the back of him.
    i,ve never seen one man cause so much negativity,ill will,dividing of the fans as mr ashley has.
    i think he is kidding himself,if he thinks he can win people over,there is an open festering wound that cannot be healed i,m afraid.
    i think he should look at the situation and realise it,s untenable,there only has to be another drama and he,s back to square one.
    mike should see this for what it is and do himself and everyone else a favour and sell up,this will not work itself out.
    he may feel like he,s in a good place at the moment,but alas it will not last,i can see more choppy waters ahead.
    chris hughton must be his last throw of the dice,and i honestly cannot see his appointment working out in the long run.
    the question will be if chris fails next season will he be daft enough to give calderwood the job?as no decent manager will work for him.
    would he try and wheel out another geordie hero to help him,and we end up with gazza swigging bottles of vodka on the touchline?i dont blame ashley for everything but surely he has to be a sadist to stick around.

  55. trojan69… good post. i will very interested when next season IF we go up and we are in bottom three all season long and the fans turn on ashley and CH? what on earth is cashley going to do? No real manager will ever come to us while he is in charge and in the same breath he will want over 200 million to get shot of us in prem, but he will leave it so late that we are facing certain relegation and no-one will buy us. we are shagged every way from what i can see. Lets just enjoy being top dogs in fizzy league cos we are all in for a bumpy ride next season – again!!

  56. Trojan “i,ve never seen one man cause so much negativity,ill will,dividing of the fans as mr ashley has.”

    The problem of negativity lies in the individual. If they are pessimists and twisters by nature – they would have found something else to hate.

    But I do agree with you – there is no point trying to please many of our so called fans – they are too consumed by hate to be worth bothering with – and life is too short after all.

  57. craig chisholm – The point being that when we had 80 million of debt more than half was on the stadium – correct – even you must agree on this. that means we had 40 million worth of player debt – also agreed? if we were so far out of control, how come we only had 40 million worth of player debt? We had the ability to back our managers by huge amounts of money year after year but the debt never got any higher than 40 million(ish). Do you see my point?

    ……..

    It wasn’t just about the debt, the club was hemorrhaging money and that was the reason why we were so far out of control as you put it.

    Just to point out this is where we were when Ashley bought us and what the finances were like –

    £43 million loan at rates of between 7.36% and 7.65% secured on future ticket sales and corporate hospitality revenues.

    £13.1 million loan at 8.55% secured on future sponsorship income repayable half yearly up to July 2010.

    £4.5 million loan at LIBOR + 2.25%.secured on the training ground.

    £8 million loan at 11.72% secured on future broadcasting revenue.

    £1.5 million interest free loan secured as a second charge over the training ground.

    The common factor you should notice in all of the loans we had out is that they were all borrowed against something, that is the only way a bank would lend us money and by 2007 we had nothing left to put up as collateral, add to that we had made trading losses of £92 million since becoming a PLC and were technically insolvent it shows how deep we were in the shit.

    Debt and not being able to borrow was the tip of the iceberg, you need to add to that how much the club was losing every year which was a result of the club making a mess of sacking SBR and going about replacing him, Shepherd threw more of the clubs money at the problem which is why our finances we so far out of control, by the time he left the accounts for his final season show we had made a loss of £33 million!

    Pulling that around is going to take time, on the one hand relegation was a disaster but another way of looking at it is it’s our chance to cut the big wage earners that were dragging us down and to rebuild.

    For all of Ashley’s faults he was at least in a position to throw his own money at the problem to keep the club from going bust, this is something that Shepherd, the Hall’s, Barry Moat or the NUST were in a position to do.

  58. Craig – why do the sheep like yourself feel the need to seek out those with an objective view and criticise them for having the audacity of a spine.

    Debs views are always rational, well thought out and in the best interests of NUFC – not any person or agenda.

    So feel free to head back to the safety of your hate filled flock – cant imagine a worse life myself.

  59. Toonsy
    Of course no one believes you are an apologist for ashley, put that one to bed.
    But i feel you may be cutting your nose off to spite you face in regard to not attending home games.
    Look on my annual visits to Tyneside I make it a point to attend as many games as possible, regardless how i feel about Ashley, actually sat not too far from him a coupla seasons back, had BSA and Mort next to him, (the honeymoon period)
    You are setting high standards for yourself,
    relax dude !

  60. Rangerman – also re the above the Halls and the Shepherds at a time of losing money were paying themselves huge dividends – many expected them to be investigated and prosecuted.

    At the time though they didnt have an institutional investor who would complain in the PLC – therefore it was a gravy train being bled dry. Craig et al ignore this as its too inconvenient a truth to argue with.

  61. TROJAN 69 says:
    February 21, 2010 at 6:45 pm

    “i dont blame ashley for everything but surely he has to be a sadist to stick around.”

    Trojan, he tried to get out twice, but no one substantial enough wants the club. It’s just too much trouble ATM, a machine that relentlessly generates bad PR for any lunatic who’s mad enough to take it on. Ashley should have realised by now that he won’t persuade any self respecting multimillionaire to go through the same hell as he did, so he’ll just have to stay here and make a fist of it until the fans calm down a bit, and memories fade.

  62. chuck – I see your point but I do still follow the team around. Obviously if work or other comittments happen to get in the way then I can’t go to the football, but when I can I follow the lads all round the country.

    Im not abandoning the team or owt, I just go support them away from home.

    I may come uo for a promotion party though ;)

    MAY! not definate! :lol:

  63. Rangerman
    Interesting and informative, those figures if correct say more about the recent history than most opinions combined.
    Yes, NOT in a position to do.

  64. rangerman… your figures are total pap!! (sorry and no offence) we were 80 million in the poo when ashley took us on. half was on the stadium so you can not take any of the stadium debt into consideration as it would not be an accurate portrayal of the full picture. so we were 40 million of debt for god knows what…..33 million of that 40 million has come in the last season too or so it would seem from what you have said (or how ashley has twisted the books). so up until that last season we were only 7 million to the red – not bad eh when you think of all the mega expensive signings we had made along the way. Nothing what you are saying adds up at all. i revert back to my previous, if ashley has pumped in 45 million this season alone why did he not drop his asking price of 80 million down to the 70 million that barry moat had offered? Christ, he could have sold it for 40 million and be no worse off than he would have you believe now. Why is mike ashley hanging onto newcastle like grim death if it is a black hole for money?? Do you really think that what ashley says is true that he could not find a buyer for us? Pompy have changed owners five times this season already (poor buggas). Is it not a co-incidence that cum every window other than this last january window he puts us up for sale and thus prevents any buys being made – although he has no problem selling!
    the bottom line is ashley is a total idiot when it has come to running our club as a FOOTBALL club but this does not mean that he is an idiot when it comes to business. In fact its pretty obvious that he is not an idiot – his sports company have continued to make a profit thorughtout the economic downturn. the bloke is not stupid. These handy millions of pounds he chucks at nufc come as an interest free loan every time tax year comes round are very interesting. He is like any other businessman in the whole world – give the taxman as little as you can get away with, keep your money moving around and never let it settle. right one off against the other and fudge the books as much as your highly trained team of arse kissing accountants let you get away with.
    You know, you cant choose when and when not to say someone is a good egg and when they are truthful people. AShley said that three people had met the 100 million asking price. He said he would let KK have final say on all ins and outs, he said he would back us and make us a top four team within five years, he said ‘we are gonna have fun’ on the first match mag of last season. Having fun are we? He was forced to admit in a tribunal that he lies to the fans to keep us happy and quiet. This is all documented. So why if he is a sh*t in just about every way do you choose to think that he is telling the truth about his finances and what he does or does not put in or take out of this club?
    Is he some kind or jekyl and hyde like? a total w****r and lier in everything he says when he has his hyde head on and then he puts the other head on and is always very honest and tells the truth about ‘the financial black hole that is nufc? ALL CRAP!!! if you support and believe ashley on money you must therefore belive him in everything else. you can not split the man in half. Its like saying you dont believe in god but have seen an angel. and ashley aint no angel.

  65. Workey
    Are you claiming the reason the club is unsaleable at the moment is because of the perceived negativity of the fans.
    “A machine that relentlessly generates bad PR for any lunatic who takes it on”
    I dont recall any particular negative PR directed to-wards The Halls, Fat Freddy, Yes! but nowhere near that generated to-wards Ashley.
    And we also know the reason for it.
    It has to do with one of your favorite themes, on which by the way I agree.
    Keegan was the catalyst but the theme was always about regionalism, parochialism,provincialism, whichever name fits.
    Yes there was an early honeymoon period , where the fans were happy having a billionaire owner, but following the introduction of D Wise KK`s firing and what was perceived as the “Cockney Mafia” taking over, the hoeymoon was over and the divorce was a foregone conclusion.
    However i dont believe that to be the reason the club is(was) unsaleable, probably had more to do with the economic situation, the unavailability of borrowing funds, etc.
    Face it Newcastle fans though hard to please are no more disruptive than their counterparts at Liverpool or Man. U. and other clubs, for that matter.
    Sure i understand your point and you may be partially right, but believe in general you got it wrong this time.

  66. Have I missed something with this????

    Is MA the Owner??

    Isn’t the Owner supposed to pay the players wages etc…. ?

    And pay for the Day to day running of the club??

    Or is that the Football Fairies that do it??

  67. Craig
    think i will wait on fat freddy`s opinion, seemed to be a bit of a ladies man, though did`nt have many nice things to say about Geordie girls, as i recall

  68. The difference between what you are saying and what I’m saying is that I’m an accountant that has spent my own time breaking down the clubs accounts so that I can explain to people what they actually say, you on the other hand seem to be going off second hand information which you are struggling to make sense of.

    The figures I’ve given you are all accurate and are there for you to see in the clubs 2007 accounts, it’s neither ‘pap’ or fictional.

    You don’t seem to want to get it so it is a waste of my time trying to explain it to you further.

  69. Stardust, Geordie Deb why don’t you get off Craig Chisholm’s back all I ever hear from the pair of you is anti Newcastle fan pro Ashley drivel. I’m all for having a differing opinion as in the case of Rangerman at least he uses figures and puts his point across in a respectful manor but I don’t see one fact or figure in either of your responses to Craig.

  70. steve,
    it sounds like craig can give as much as he gets mate, i wouldn’t worry.

    Anyone would think we had lost our last 2 games 0-3 & 1-4 or something.
    Funny how, like tories, the media, & the like, some time their most vociferous rants, seemingly, just to deflect from anything good.
    How predictable, how depressing, how crass.

    Howay the lads, anyway.

  71. Steve – both Deb and I have stated the facts to Craig a million times – sometimes you have to give up explaining to folk – they dont have the appetite for information or the truth.

    Please dont jump on a bandwagon when you dont even know where its headed or where its been.

    As for pro Ashley drivel – if the facts as stated make it sound that way – maybe its because the facts arent as against him as those who choose not to hear them believe.

    I can see mistakes (honest and foolish ones) by him and I can see good by him.

    May I suggest next time the bandwagon comes rolling by – you choose to sit under your tree with your banjo?

  72. Stardust I’m not jumping on any bandwagon as I have stated I do not have a problem with anyone having an apposing opinion as long as it is constructive the comments you displayed before were not constructive and showed no facts to back up your argument, this is the case with most of your posts and at the end of your post you proved you can’t post a reply in a respectful manner so you have not changed my opinion of you.

  73. I appreciate and understand that Steve

    Lets just say we are two years further down the line with Craig so rational explanation becomes tiresome – regurgitating a thousand other points put to him – when he always chooses not to hear.

    To be fair though – he is good sport anyway and Id be surprised seeing all he gives out if he took any offence.

    But I do accept to those joining late they may see a tail end of an argument and it gives a skewed view. (not in my favour (again) lol)

  74. Stardust yeah I can see your point and apologise if that is the case. At the end of the day we are all Toon fans and although our opinions may differ the one thing we all share is that we have the best interests of the club at heart. I appreciate your response mate.

  75. Nobody here knows “the facts”. Nobody knows where monies from sales of players have been reinvested and nobody knows much about anything else. Some people just need a hate figure I suppose. To say anyone that is happy to have Ashley here still is a Mackem is just childish. I see nothing but petulance in most of these arguements.

    Toonsy (20 & 30) ad Paul (22) have pretty much hit the nail on the head.

    Of course, everyone’s entitled to their opinion.

  76. Steve – certainly no apology needed – I can be a rude so and so from time to time and I need knocking down a peg or two lol.

  77. 8O

    Humble, gracious and honest introspection from Dusty?

    Feck me, what was that pink thing flying past my window??

  78. Hello again @Sawdust.

    95:”many expected them to be investigated and prosecuted.”

    WHO expected them to be prosecuted? The expression ‘weasel words’ just doesn’t begin to cover crap like this.

    112: “both Deb and I have stated the facts to Craig a million times – sometimes you have to give up explaining to folk – they dont have the appetite for information or the truth”.

    Perhaps craig doesn’t give a toss about your OPINION you POMPOUS FECKER. GROUNDLESS UNSUBSTANTIATED WEASEL WORDS. No founding references. No citations.

    Who the f*ck are YOU to insist people take your waffling ramblings as the TRUTH?

  79. @Sawdust

    “The problem of negativity lies in the individual. If they are pessimists and twisters by nature – they would have found something else to hate.”

    Psychology n’all!

    Christ Kermit, is there anything you can’t turn your hand to?

  80. DerthPooder

    “Perhaps craig doesn’t give a toss about your OPINION you POMPOUS FECKER. GROUNDLESS UNSUBSTANTIATED WEASEL WORDS. No founding references. No citations.”

    Demonstrating your own ignorance whilst dangling ones rod into the ether makes one rather pitiful. Be off with you – you scallywag.

  81. @Sorepuss

    “Demonstrating your own ignorance whilst dangling ones rod into the ether makes one rather pitiful. Be off with you – you scallywag.”

    Spoken like a brain-damaged Stephen Fry.

    I bet you’d be glad of a rod to dangle into the ether.

  82. BerthPool

    I’s sure if you google “Poet Laureates” you’ll find many a site to indulge satiate you.

    Oh and if Ethel would oblige Id be happy to…feel free to give me a good reference….

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