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Archive for tag: Mike Ashley issues Newcastle statement.

A sense of déjà vu at Newcastle?

May 10th, 2010 | 190 Comments |

It's a conspiracy!
It's a conspiracy!
After the latest five year plan was revealed in the rather grim statement by Newcastle United yesterday, I can’t help but feel a sense of déjà vu with regards to possible upcoming events.

I’ve never been one for the conspiracy theories, but the recent statement seems to have left more questions than answers. It is the hot topic of debate at the minute, and rightly so in my opinion. Since it’s release it has taken preferance over any reports of new signings, although we know why that is, player interviews, everything. There is simply nothing else going on that matters as much as the content of this statement currently as Toon fans around the world chew the fat and dissect just what the detail of each point means. Ironically this comes from a statement that was aimed at halting wild speculation in the first place, but is there a more sinister, secretive, intention at work here? (more…)

Newcastle United finally release official statement.

May 9th, 2010 | 241 Comments |

These two are going to face a backlash.
These two are going to face a backlash.
Well the anticipated statement has finally arrived, and although it stops short of putting the club back up for sale, the contents aren’t pretty.

I am honestly a little bit lost for words right now having quickly skimmed over the contents, but my initial reaction is that it doesn’t sound pretty and we should settle down for what is going to be a long hard season next year. The statement begins by summarising the accounts from last season, with the headline being an operating loss of £37.7 million for the accounts just filed. It then goes on to forecast estmated losses of £32.5 million for the season just gone whilst also indicating that we have a £20 million overdraft that is fully comitted. Dire financial circumstances indeed which is something I think that deep down we knew all along. Those financial circumstances could become even more dire when I reveal the most chillng words of the whole statement in my opinion.

That is the fact that there are no plans for any capital outlay on any new players, and that the team from this season will form the basis of the team we will start the Premier League season with. Any new additions will have to be self funded by player sales by the looks of it. I am actually lost for words as I really thought that there may still be a surprise this transfer window and that Mike Ashley had learned that that the playing staff needs investment. Apparently not. (more…)