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The Rafa Miracle

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Sima said:
Sports Direct made £77m profit last year, it doesn’t lend true that they would have £90m surplus to buy another retailer.

Granted I don’t know how his other businesses are faring but Sports Direct is his main one.
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What about retained profit?
 

Can we stop making threads about the f***ing mags ffs :rolleyes:

' flipping mags ' i meant .... i just received a warning for swearing. Soz mods
 
Sima said:
Sports Direct made £77m profit last year, it doesn’t lend true that they would have £90m surplus to buy another retailer.

Granted I don’t know how his other businesses are faring but Sports Direct is his main one.
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As a partial owner of sport Direct (only about 22,000 shares though) you miss the point. SD has accumulated cash balances and bank facilities. There is NO link between a Companys annual profit and what it can spend on an acquisition. Additionally SD has higher underlying profits of approximately £220m as the following amply illustrates

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Cat 3 said:
As a partial owner of sport Direct (only about 22,000 shares though) you miss the point. SD has accumulated cash balances and bank facilities. There is NO link between a Companys annual profit and what it can spend on an acquisition. Additionally SD has higher underlying profits of approximately £220m as the following amply illustrates

You must be logged on to see external links
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Your replies shows the core problem with most NUFC fans when it comes to MA - you know nowt about business or financials.

1. Sports Direct PLC is buying HoF
2. MA has put in interest free £150m
3. Nufc whatever definition you use had a higher wage bill in the Championship than a number of Premier League Clubs
 
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What A Waster said:
Obviously.
Although if he is spending £90m to get promoted we should've won it by 20 points not just scraped promotion



It wasn't 112 million on the wage bill.
They didn't increase the wage bill by 40 million after dropping a division. Do a bit of research into why it says £112m.
I'd love to engage further but I'm off to protest outside house of fraser.
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What is the wage bill now, out of interest?
 
Cat 3 said:
As a partial owner of sport Direct (only about 22,000 shares though) you miss the point. SD has accumulated cash balances and bank facilities. There is NO link between a Companys annual profit and what it can spend on an acquisition. Additionally SD has higher underlying profits of approximately £220m as the following amply illustrates

You must be logged on to see external links




Your replies shows the core problem with most NUFC fans when it comes to MA - you know nowt about business or financials.

1. Sports Direct PLC is buying HoF
2. MA has put in interest free £150m
3. Nufc whatever definition you use had a higher wage bill in the Championship than a number of Premier League Clubs
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I’m not the one claiming our wage bill is over £110m tbf.

1. I know
2. I know (although a good chunk of that is down to his own mismanagement)
3. I’ve already covered it above.

Where are you getting the £220m underlying profit from btw? I’ve looked at the annual accounts and can’t see that figure.
 
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Said it a million times before, getting them up wasnt a miracle, it was job done, keeping them up wasnt a miracle it was a job very well done. They have kept the players they wanted to keep and have added some steady if not spectacular players so keeping them up again would be job done. All this Mag knicker wetting and deification for Benitez is ridiculous. He is a good manager doing a good job, no more no less. He is not bigger than the club or the city or any of that shite, the Mags will roll on as they have done for over 100 years, top flight club, no more, no less.
 
Sima said:
I’m not the one claiming our wage bill is over £110m tbf.

1. I know
2. I know (although a good chunk of that is down to his own mismanagement)
3. I’ve already covered it above.

Where are you getting the £220m underlying profit from btw? I’ve looked at the annual accounts and can’t see that figure.
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The link i sent you shows 'Operating Profit' of £217m. He had a one off loss of over £100m on a currency hedge - which unravelled on Brexit - this goes through the 'other income/interest' section of the P&L. Sports Direct is actually a good business - its problem being he cant stop himself trotting off and doing deals without due diligence. These deals include NUFC, Debenhams and the original (and current) HoF deals. Its not particularly well known but he's heavily dyslexic /dyspraxic - its why he doesn't write a lot and some say why hes not good at due diligence.

Its very frustrating being a shareholder - if it wansn't for these deals and his 'bugging' of MP's SD would probably be worth £7 a share.
 
Ah, now I see. I was looking at the annual accounts on one of the links.

You do realise there was £130m to come off that operating profit (£217m), right?

The £77m is the more accurate figure once this has been covered.
 
knitting away said:
Said it a million times before, getting them up wasnt a miracle, it was job done, keeping them up wasnt a miracle it was a job very well done. They have kept the players they wanted to keep and have added some steady if not spectacular players so keeping them up again would be job done. All this Mag knicker wetting and deification for Benitez is ridiculous. He is a good manager doing a good job, no more no less. He is not bigger than the club or the city or any of that shite, the Mags will roll on as they have done for over 100 years, top flight club, no more, no less.
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23 of the last 100 years NOT in the top flight.
No more, no less.
 
Sima said:
Ah, now I see. I was looking at the annual accounts on one of the links.

You do realise there was £130m to come off that operating profit (£217m), right?

The £77m is the more accurate figure once this has been covered.
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When you value a business, or look to lend to a business etc you look typically at Operating Profit (EBIT) or gross cash flow (EBITDA). The business was pretty consistent over 5 years with average operating profit of £200m. In two of the years there was a one off loss and a one off gain of £100m each. One was a currency deal gone wrong and one was (i think) for a property deal gone good.

The EBITDA for 2018 was £306m, This is broadly speaking the gross cash flow he generates before spunking on tax, dividends and investments (in assets and companies). Thats a very healthy cash flow. He avoids debt so SD is a cash machine and £90m for HoF is modest.

Also i think HoF will be cash generative from day 1. Hes bought the shops and the stock - but no debts. So he gets a working capital boost in forst 6 weeks. Buy more shares!
 
Cat 3 said:
When you value a business, or look to lend to a business etc you look typically at Operating Profit (EBIT) or gross cash flow (EBITDA). The business was pretty consistent over 5 years with average operating profit of £200m. In two of the years there was a one off loss and a one off gain of £100m each. One was a currency deal gone wrong and one was (i think) for a property deal gone good.

The EBITDA for 2018 was £306m, This is broadly speaking the gross cash flow he generates before spunking on tax, dividends and investments (in assets and companies). Thats a very healthy cash flow. He avoids debt so SD is a cash machine and £90m for HoF is modest.

Also i think HoF will be cash generative from day 1. Hes bought the shops and the stock - but no debts. So he gets a working capital boost in forst 6 weeks. Buy more shares!
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Why are we talking about this now? We’re skewing way off on a tangent. The profit for SD before tax was £77m after the annual liabilities had been deducted from the operating profit.

Sports Direct is a strong business in the field it is in, I don’t think that is up for contention. The question is around where this money has originated from considering he is on record as saying he doesn’t have a vast amount of liquid cash to hand as of last August.

I’m not one of these morons that’s going to say he’s directly taken money from Newcastle United’s till to buy House of Fraser. Instead I’m going to wait for the accounts and gathering my opinion from there.

And as I’ve also previously said, it’s his prerogative whether he wants to pay some of his loan back or not but in the past he’s used his interest free loans as leverage against signing up other commercial partners to advertise inside the stadium.
 
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I have looked at their )potential) team for tomorrow and it looks a steady premiership team to be honest. Pretty decent. But thats not enough for them deluded fuckers, they should be winning the league yer knaa
 
Sima said:
Why are we talking about this now? We’re skewing way off on a tangent. The profit for SD before tax was £77m after the annual liabilities had been deducted from the operating profit.

Sports Direct is a strong business in the field it is in, I don’t think that is up for contention. The question is around where this money has originated from considering he is on record as saying he doesn’t have a vast amount of liquid cash to hand as of last August.
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Sports Direct are buying House of Fraser.
What's so hard in the above that you can't quite grasp, you absolute clip.
 
Sima said:
Why are we talking about this now? We’re skewing way off on a tangent. The profit for SD before tax was £77m after the annual liabilities had been deducted from the operating profit.

Sports Direct is a strong business in the field it is in, I don’t think that is up for contention. The question is around where this money has originated from considering he is on record as saying he doesn’t have a vast amount of liquid cash to hand as of last August.

I’m not one of these morons that’s going to say he’s directly taken money from Newcastle United’s till to buy House of Fraser. Instead I’m going to wait for the accounts and gathering my opinion from there.

And as I’ve also previously said, it’s his prerogative whether he wants to pay some of his loan back or not but in the past he’s used his interest free loans as leverage against signing up other commercial partners to advertise inside the stadium.
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They are not annual liabilities - they were a one off loss outside normal course of business. As for where the money has come from - check out the balance sheet, SD has in excess of £360m of cash (ITS ON THE LINK I SENT YOU). He does not have personally a vast amount of liquid cash but SD does.

MA only owns 53% of SD he is not buying HoF out of his own cash. If he was buying it out of his own money he would literally be gifting me (as a 0.002% shareholder ) £1,800. Why would he do that
 
If Rafa is that unhappy he could walk away. Everyone knows where the Mags stand currently - insufficient funds to get anywhere the top teams. Probably capable of top 10 finishes if they invest a bit more and crucially spend their money wisely. Either way they are in the PL and fair play to them for that. If things were the other way around we'd be wetting ourselves......the difference in all honesty though is that they wouldn't find themselves down with the dead men in League 1 like we are.
 
Robanner said:
If Rafa is that unhappy he could walk away. Everyone knows where the Mags stand currently - insufficient funds to get anywhere the top teams. Probably capable of top 10 finishes if they invest a bit more and crucially spend their money wisely. Either way they are in the PL and fair play to them for that. If things were the other way around we'd be wetting ourselves......the difference in all honesty though is that they wouldn't find themselves down with the dead men in League 1 like we are.
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Who will have more fun this season ? i suspect us!
 
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