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This should put an even bigger smile on your faces. Especilly the second one.
ASHLEY says he was surprised by the state of Newcastle United’s finances when he took over.
“Financially, the club was in a difficult position because I really do think that it had over-extended itself.
“We first heard about the potential sale on a Saturday and had done the deal by the Wednesday, so if you are asking if we did due diligence before buying then the answer has to be no.
“But would I change anything about that process? No. Do I regret anything? Absolutely not. What I will add is that one of the most unfortunate things about Newcastle United finances at the time was the amount of money still owed on players signed in comparison to the amount of income that was due off players who had gone.
“There is still £27m net to pay on transfers that were done before I came. So probably in the latter years before we came in could you argue that the club was beginning to lose its way. It has also already taken upfront payments from commercial deals and sponsorships which didn’t help us at all.
“It seemed as though the club was in a very downward spiral, one it would have found very hard to come out of.
“Apart from the purchase of the club and the associated costs that come with that, I’ve put in a further £100m to reduce debts and expect no interest is paid on that. Yet still we have the outstanding debt of the monies still owed on player transfers.”
THIS IS VERY AMUSING...MR Harris whizkid
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Note bold and underlined, happy days![]()
Toon legend Malcolm Macdonald has been hugely critical of owner Mike Ashley's handling of the club during his time in charge at St James' Park.
Malcolm Macdonald: "I am absolutely horrified and I mean horrified. There has been two years of utter and complete misrule at the club. This owner seems to defy any logic at every twist and turn.
"For example, he is just in the final stages of negotiating with Alan Invalid/outdated Link Removed. As far as I was aware, the contract was sorted and Alan just needed to know the transfer budget.
"Then before anything is signed there is an announcement that the club is on the market, so the club is up in the air and the manager is up in the air. In the last two seasons Ashley has had five different managers for heaven's sake - Sam Allardyce, Kevin Invalid/outdated Link Removed, Joe Kinnear, Chris Hughton and Alan Shearer.
"What I really fear is that come the start of the season there will be a dressing room full of disenchanted, disinterested footballers. They will be playing at a level they don't understand."