Get a grip | Page 4 | Vital Football

Get a grip

Rexn - 5/6/2013 15:55

What makes us a selling club?

Have a look at this:
http://transferleague.co.uk/league-tables/transfer-league-table-last-five-seasons.html
Click to expand...

Good find that Rexn, just confirms all are thoughts, and they wonder why season ticket sales are slow.....

As most agree, he will spend the bare minimum to secure premiership status, whilst recouping his loans etc...

Only problem when he sells, the fans, SKY, and player sales will have paid him back, leaving him with a massive profit.

That's why I personally despise the Fat ****....
 
Toon_NoMatterWot - 6/6/2013 10:33

Tomfoolery - 6/6/2013 10:31

The latest annual Deloitte report has just been published and it has revealed that in the summer of 2012, the Premier League clubs had a massive total debt of £2.4billion.

However, out of that huge total, £1.4billion was in interest free soft loans from the clubs’ owners. Top of that list unsurprisingly were Chelsea with an eyewatering £895m owed to Abramovich.

In second place though were Newcastle United with £267m owed to Mike Ashley,
Click to expand...

We dont owe him a penny.

He bought the club himself and may have loaned himself a hundred and odd million and im sure the last accounts highlighted £111 million or so outstanding.

Makes me sick all the fans that believe the spin.
Click to expand...

£267million is a crock of shìt, and includes the purchase price.

He's never lent the club more than £140 odd million. I didn't realise we had to pay him back the money he paid for the club.

Unfortunately Toony, 'we' (The club) do owe him. It doesn't matter that he owns the club. The money was lent by him to the club, so the club as an institution is officially in debt to him. I think he's been paid back something like £29million?

If he sold the club, that debt would still be owed to Ashley, unless agreement was reached within the sale price.

I'd like to see him take some chunks off that debt and pay himself back. At that level there's almost zero chance he's going anywhere. It's like a millstone round our necks.

Having said that, he'd just as likely sell to the next set of corrupt, capitalist twats, and on it goes.
 
I think in total he lent about 170 million (140 just after he bought us to cover outstanding debts and the mortgage on the stadium expansion which had to be pain in full due to the ownership change) and then around 30 million in the championship (which has already been paid back) So the debt still stands at around 135/140 million unless some of it has been recouped. Interesting looking at the details for us specifically, we have actually had a net spend the past two seasons, but overall it is more than counteracted by the nigh on 25 million surplus we had the two seasons before that.
 
So you're saying we're not financially stable at all and are in fact massive debt? Thus they are lying to us again?
 
He is well within his rights to take money out of the club and not take it as dent repayment. Why would he miss out on that tax break until he has to?

 
Toon_Demon - 6/6/2013 11:17

I think in total he lent about 170 million (140 just after he bought us to cover outstanding debts and the mortgage on the stadium expansion which had to be pain in full due to the ownership change) and then around 30 million in the championship (which has already been paid back) So the debt still stands at around 135/140 million unless some of it has been recouped. Interesting looking at the details for us specifically, we have actually had a net spend the past two seasons, but overall it is more than counteracted by the nigh on 25 million surplus we had the two seasons before that.
Click to expand...

I don't think it was as high as that. The £140million figure includes the loans made whilst in the Championship. But he's paid himself back something like £23million and we had £129million outstanding at end of summer 2012.

Either way he is still owed a nine figure sum.
 
Geordieracer69 - 6/6/2013 11:24

So you're saying we're not financially stable at all and are in fact massive debt? Thus they are lying to us again?
Click to expand...

Plus it looks like he has converted the purchase price of £134million into debt too, and can draw on that from the 'company'.

Fùcking hell, we're never gonna get rid of him!
 
Platinii - 6/6/2013 12:23

Plus it looks like he has converted the purchase price of £134million into debt too, and can draw on that from the 'company'.

Fùcking hell, we're never gonna get rid of him!
Click to expand...

It is odd that he's done that. Surely you don't loan a club money to own it. sounds a bit suspicious to me, maybe it's a tax issue
 
Ashley is never going anywhere as long as 50,000 Bens turn up every week

It's bad enough people being selfish and going to get their fix

But when have people like our resident mong who actually back the owner

It's pointless even talking about him leaving. Won't happen
 
Toon_Demon - 6/6/2013 13:08

Platinii - 6/6/2013 12:23

Plus it looks like he has converted the purchase price of £134million into debt too, and can draw on that from the 'company'.

Fùcking hell, we're never gonna get rid of him!
Click to expand...

It is odd that he's done that. Surely you don't loan a club money to own it. sounds a bit suspicious to me, maybe it's a tax issue
Click to expand...

It doesn't even sound legal! Somebody needs to beam out the Rex signal. He'll put us right.

I might go to the shops tonight, buy something for a hundred quid, then tell them they owe me a ton.
 
It's car dealer speak. "how much is that red one, mate" Well, sahn, it owes me £5000 and that's before I take into consideration the time spent on it"
 
He bought the club, he paid the debts off. You can't owe yourself money so he can fuck off with that one.
 
Thanks for the confidence.

It isn't the first time that Deloittes have got things slightly wrong. Yes, a few people have documented the debt well. It seems to have reached £140m tops. By June he appears to have paid himself little back but had charges over certain revenues. It is feasible for him to have paid himself back about £20-25m in July.

Was it a loan to himself? For the uninitiated, this is what company status is for. Ashley owns NUFC but is not NUFC. Companies were first set up to share opportunities but give a finite level of risk, i.e. what was invested.

Whether or not he did due diligence, a GCSE Business Studies student (at least most of mine when I was teaching) could tell from a read of the accounts that there was a debt and that about £85m of that had to be repaid.

The debt part is fantastic for him. The business effectively cost him about £250m (including debt) which increased when his cronies messed up and we were relegated.

This is where the loan to his company comes in. The loan is interest free so he can claim back a bit of tax. Having made the loan, rather than include it in his purchase price, he can now pay himself back as much as he wants and not pay tax on it. The only tax would be if he had charged interest.

The other beauty of buying the club and keeping it as a company is that losses from previous years can be counted against future tax bills. Bingo, sell Carroll for £35m, make a big profit, offset it against Shepherd's losses and still no tax.

I hope that wasn't too convoluted.
 
You must log in or register to reply here.