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Archive for tag: Newcastle on financial fair play.

Has Mike Ashley stumbled upon the way forward?

May 27th, 2010 | 82 Comments |

Could he be ahead of the game?
Could he be ahead of the game?
All this talk of plans and statements, all these definitions of what capital outlay actually means, whether we’ll have money, no money or whatever has been done to death now.

But through all that, has Mike Ashley stumbled upon something. Has be bumbled his way onto the right path to a secure a sustainable and, heaven forbid, prosperous future?

The guys and gals at UEFA are meeting today and tomorrow to put the final pieces of their ‘Financial Fair Play’ document together. The aim is to force clubs to be more sustainable and to live within their means, and to put an end to the year-on-year losses incurred by clubs. It also seeks to put an end to mega-rich benefactors pumping money into clubs in the shape of loans. Under the new rules, owners will be allowed to put money in, but only for long-term projects such as new stadiums or training grounds, and that money can’t be in the shape of a loan but must be made up of permanent shares instead. So has Mike Ashley stumbled upon the way forward at a time when other clubs are struggling financially? (more…)