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All NUFC and Sportswashing here (threads will be merged)

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John the Savage said:
Look at the bollocks they’re spouting on there. They were no where near the top of English football when Ashley took in 2007. They had one season with Keegan when they blew it and they’ve been nowhere near since. Deluded bell ends.

“Because at the point when Ashley took over that's who we were competing with financially. In the previous 10 seasons we qualified for Europe every year, we broke the British transfer record 3 years before with Shearer, Newcastle where at the time right at the top of the prem.”

Apparently signed Shearer in 2004 too- He was finished then wasn’t he?
Click to expand...
At the point Ashley took over they were on the brink of going into administration...Shepherd & Dougie were laughing their cocks off that they managed to hoodwink Ashley and rush the deal through without due diligence being completed, after both pocketing a LOT of money from the club.
 
The Shepherd said:
At the point Ashley took over they were on the brink of going into administration...Shepherd & Dougie were laughing their cocks off that they managed to hoodwink Ashley and rush the deal through without due diligence being completed, after both pocketing a LOT of money from the club.
Click to expand...

The banks had refused to extend the overdraft, they had no money coming in and loan payments were due.
IIRC the Journal said they were days from administration.

The Journal also used to have a monthly article from a City investor, and they asked him why Newcastle weren't being bought out by hedge funds when a number had come forward then backed off.
The bloke more or less said they were treating the club as a cash cow, and the dividends being paid per share were 'off the map'. .
He reckoned a well run company with a turnover of 10 times NUFC and in serious profit would struggle to justify the dividends Freddie and the Halls were paying themselves.
When you add on the "office" in Spain, the warehouse debacle and the fake Shiek getting involved with their racing team it's clear there was a lot going on that investors found when they looked at the books.
Grumpy Old Man said:
The finals of the Asian Cup were taking place in Qatar, and KSA are among the favourites. Ensuring they could get legal broadcast access to that was at least as important to them.
Click to expand...

Ah!

I'd been struggling to reconcile the 1 billion they paid to settle the piracy issues and the lack of a plan since the takeover.
Had no idea about this. This plus the info from phunboy on an earlier thread goes a long way to explaining things.

Ta.
 
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Zak's Dad said:
The banks had refused to extend the overdraft, they had no money coming in and loan payments were due.
IIRC the Journal said they were days from administration.

The Journal also used to have a monthly article from a City investor, and they asked him why Newcastle weren't being bought out by hedge funds when a number had come forward then backed off.
The bloke more or less said they were treating the club as a cash cow, and the dividends being paid per share were 'off the map'. .
He reckoned a well run company with a turnover of 10 times NUFC and in serious profit would struggle to justify the dividends Freddie and the Halls were paying themselves.
When you add on the "office" in Spain, the warehouse debacle and the fake Shiek getting involved with their racing team it's clear there was a lot going on that investors found when they looked at the books.


Ah!

I'd been struggling to reconcile the 1 billion they paid to settle the piracy issues and the lack of a plan since the takeover.
Had no idea about this. This plus the info from phunboy on an earlier thread goes a long way to explaining things.

Ta.
Click to expand...
PIF are not immune to getting dipped in the arse for buying overpriced shite

Another example of which is the Salvador mundi case ....worlds most expensive painting $450.3m dollars .
.only to later find out that its not a da vinci

Caveat emptor
 
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