https://www.themag.co.uk/2019/08/pr...nt-auditor-to-look-at-newcastle-united-books/
Looking forward to Ashley's next move
Looking forward to Ashley's next move
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- Thread starter PieMag
- Start date
The accuracy of the accounts is fine. The problem is that sometimes people don't know what to read into them. As some will now I regularly do articles about them on my own site.
I saw that one of the questions is "where has the money gone?".
So the Championship season saw a loss, he put a few bob in and got it all back. They don't put a value on the property that was transferred over to another of Ashley's companies, that he later allegedly profited from.
Ashley accumulates assets. He tend to pay cash for signings, he sells on instalments so he builds up an asset base of debtors, or if you like the mob films, markers. It all increases the value of the club if ever he was to sell, as does the level of profits. He will be creaming it with the sale of Ayoze, pushing up the notional asset value by a few hundred million.
With what he paid for the club after the mismanagement of Shepherd, he also generates cash elsewhere through reducing his tax bill but that loophole finally closes this year.
At the end of the day, he knows that if he spends a few bob, the answer will come back that Ashley's accounts are accurate (as far as they go) and it's even more publicity for some retail chains whose names I can't remember and wouldn't give free publicity to if I could.
I saw that one of the questions is "where has the money gone?".
So the Championship season saw a loss, he put a few bob in and got it all back. They don't put a value on the property that was transferred over to another of Ashley's companies, that he later allegedly profited from.
Ashley accumulates assets. He tend to pay cash for signings, he sells on instalments so he builds up an asset base of debtors, or if you like the mob films, markers. It all increases the value of the club if ever he was to sell, as does the level of profits. He will be creaming it with the sale of Ayoze, pushing up the notional asset value by a few hundred million.
With what he paid for the club after the mismanagement of Shepherd, he also generates cash elsewhere through reducing his tax bill but that loophole finally closes this year.
At the end of the day, he knows that if he spends a few bob, the answer will come back that Ashley's accounts are accurate (as far as they go) and it's even more publicity for some retail chains whose names I can't remember and wouldn't give free publicity to if I could.
It's not so much the actual figures in the accounts it's the contracts in place that I'd be looking at.
1. What does the advertising contract with SD really amount too? We know it's gone up from 1m to 2m a season but how long do they hold the advertising rights for? Is it open-ended?
2. How much per £1.00 do we earn from sales in the NUFC shops? Is it like the Rangers contract where we earn a pittance. Once again does SD have the indefinite rights to the merchandising contract. We're one of the only football clubs who don't announce the number of strips sold, so there's got to be a reason for that.
3. The catering contracts are with Sodexo and once again how long do these contracts last.
All of the above could put off potential buyers if they've got no control over income streams outside of the TV & PL money. Look at Spur's commercial income compared to ours. They were at a similar level to ours before the FCB took over but now dwarf them, and the differential will only increase season by season with their new stadium.
1. What does the advertising contract with SD really amount too? We know it's gone up from 1m to 2m a season but how long do they hold the advertising rights for? Is it open-ended?
2. How much per £1.00 do we earn from sales in the NUFC shops? Is it like the Rangers contract where we earn a pittance. Once again does SD have the indefinite rights to the merchandising contract. We're one of the only football clubs who don't announce the number of strips sold, so there's got to be a reason for that.
3. The catering contracts are with Sodexo and once again how long do these contracts last.
All of the above could put off potential buyers if they've got no control over income streams outside of the TV & PL money. Look at Spur's commercial income compared to ours. They were at a similar level to ours before the FCB took over but now dwarf them, and the differential will only increase season by season with their new stadium.
Aye you are probably right vin but it's a really good opportunity for the media to put pressure on him by reporting it rather than wasting publicity on boycott's that actually work in Ashley's favour and end up making us look like bigger c**ts than ever before when they turn out to be a non event.He'll totally ignore the letter like he has on many other occasions.
I don't think we disagree Vin.It's not so much the actual figures in the accounts it's the contracts in place that I'd be looking at.
1. What does the advertising contract with SD really amount too? We know it's gone up from 1m to 2m a season but how long do they hold the advertising rights for? Is it open-ended?
2. How much per £1.00 do we earn from sales in the NUFC shops? Is it like the Rangers contract where we earn a pittance. Once again does SD have the indefinite rights to the merchandising contract. We're one of the only football clubs who don't announce the number of strips sold, so there's got to be a reason for that.
3. The catering contracts are with Sodexo and once again how long do these contracts last.
All of the above could put off potential buyers if they've got no control over income streams outside of the TV & PL money. Look at Spur's commercial income compared to ours. They were at a similar level to ours before the FCB took over but now dwarf them, and the differential will only increase season by season with their new stadium.
As I see it, Ashley has made a limited offer and as he says, they are whiter than white. It'a bit bit like putting Tippex over the valid questions you raise so they do not form part of the audit. Tippex always looks whiter than white paper.
