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Archive for tag: Club Finances.

What has Mike Ashley ever done for us?

September 23rd, 2009 | 55 Comments |

Both good and bad?
Both good and bad?
When Mike Ashley rode into toon he took the Freddy Shepherd Gang by surprise. Shepherd claims he was ambushed while he lay incapacitated on a hospital bed and before we knew it rumour quickly became fact and Ashley had bought Newcastle United, not exactly with a suitcase full of money but without any of the this due diligence nonsense that troubles most businessmen.

Thus began a new era in the club’s history and it’s one that has managed to divide fans almost throughout. The partisan divisions – often drawn along the lines of Ashley v Keegan – are, in my opinion, unnecessary. I believe it’s perfectly possible for a person to do some good things and some bad things and I don’t believe Mike Ashley is any different in that respect. With rumours once more circulating about the sale saga nearing a close I wanted to try and take a balanced view of Ashley’s time at Newcastle.

One of the main things I thank Mike Ashley for is prising the club away from Freddy Shepherd. I’ve heard arguments suggesting that we wouldn’t have been relegated if Shepherd had remained in charge and maybe that’s true, but I believe the club would have been in dire straits financially. (more…)


Moat’s course may yet be damned.

August 25th, 2009 | 45 Comments |

The bank that might like to say no
The bank that might like to say no
Much speculation has ensued after yesterday’s announcement that the club is giving Barry Moat more time to negotiate an overdraft facility with Barclays Bank.

Our favourite mackem Louise Taylor demonstrates surprising knowledge of the club’s confidential banking details, which form the crux of her latest article in The Guardian.

According to Ms Taylor and her inevitable ‘sources’, we have a £40m overdraft facility, on which we currently owe £20m. On Tuesday Barclays were planning to renew that facility but with only a £10m limit, which is in line with what they usually allow for Championship clubs.

Apparently Ashley has the funds to cover the £10m shortfall but – The Guardian claims – Moat does not and if he can’t persuade Barclays to break with their Championship-lending policies and allow him to have a £20m overdraft, then his takeover effort will fail. (more…)


Newcastle United – News Roundup – 23 August 2009

August 23rd, 2009 | 20 Comments |

Nile hopes to impress.
Nile hopes to impress.
Yesterday’s biggest news is of course our 2-0 win at Crystal Palace, which puts us in second place, behind ‘Boro on goal difference. Hughton, reflecting on the game, said:

It was very pleasing to get the three points, and especially the clean sheet, away from home.

We said to the players before the game that we expected a tough match, and that’s what we got.

But to get a goal after just two minutes was a dream start – it gave the players and the fans a massive lift.

It was then a very good time to get the second goal and again, like Kevin’s, it was a very good finish.

We had to defend a little bit more after the break but I felt were always in control.

I thought the effort and desire was tremendous.

We’re going very well at the moment but we have to keep that going because all of the hard work is in front of us – but it’s been a great start.” (more…)