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Newcastle fc

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Reiver said:
But you'd happily say ..... "A filthy excuse of a club are Sunderland at present."
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Whilst I would normally avoid these sort of expressions I can only say...

NAILED ON!

Polemic is not an open exchange of views...

Grumpy Old Man said:
The ramble has lots of pretty pictures, but it's pretty superficial. He rarely looks beyond the profit and loss and the headline debt numbers. If you really want to know what's happening, you need to look at both cash flow and trends over a number of years.

Remind me what year Ashley bought you.
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2007, if I remember rightly
 
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Rafa is getting the best out of a limited squad. But so are several other managers in the PL - I don't recall too many having the media exposure and praise that Rafa is. Naturally that comes with his reputation but it's unbearable at times.

I think Newcastle will squeeze by - as we did for several seasons. It shouldn't be celebrating as a magnificent achievement like
 
Fat Lady Racing said:
Whilst I would normally avoid these sort of expressions I can only say...

NAILED ON!

Polemic is not an open exchange of views...


2007, if I remember rightly
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Looking at the accounts from 2006 to 2008, it's just shoddy or non-existent due diligence. The last Newcastle United plc accounts clearly showed external debt of around £70m. During 2007/8 Ashley paid all that off and put in a £100m loan to cover that and the 2007/8 player purchases. I haven't looked in more detail, because I don't have time right now.
 
Grumpy Old Man said:
Looking at the accounts from 2006 to 2008, it's just shoddy or non-existent due diligence. The last Newcastle United plc accounts clearly showed external debt of around £70m. During 2007/8 Ashley paid all that off and put in a £100m loan to cover that and the 2007/8 player purchases. I haven't looked in more detail, because I don't have time right now.
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Thanks Grumpy, most appreciated...especially as it seems that my memory is still functional...

As ever, if you ever have nothing better to do please dig deeper.

Btw, I wonder if @AndyH has time over from his homework to keep following this...?
 
Fat Lady Racing said:
Thanks Grumpy, most appreciated...especially as it seems that my memory is still functional...

As ever, if you ever have nothing better to do please dig deeper.

Btw, I wonder if @AndyH has time over from his homework to keep following this...?
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The thing that probably did surprise Ashley, and probably made in put in more than he wanted, was that most of the debt was in the form of long term loan notes, but the holders called them in early after the takeover. But even there, proper due diligence should have revealed that the lenders could have done that, and flagged it as a risk.
 
Grumpy Old Man said:
The thing that probably did surprise Ashley, and probably made in put in more than he wanted, was that most of the debt was in the form of long term loan notes, but the holders called them in early after the takeover. But even there, proper due diligence should have revealed that the lenders could have done that, and flagged it as a risk.
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Remarkable similarities between both owners...

Their cluelessness on football and their wish to make fast money...that Ashley saw this earlier is probably what has kept us afloat. The arrival of Ashley saw the end of flagship signings and and expressed company policy to run at a profit. Of course the profit is minimal as a return on investment so he has to keep it going to avoid a huge loss...

Just as Short must.
 
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Fat Lady Racing said:
Thanks Grumpy, most appreciated...especially as it seems that my memory is still functional...

As ever, if you ever have nothing better to do please dig deeper.

Btw, I wonder if @AndyH has time over from his homework to keep following this...?
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What an earth are you on about cracker jack I haven't even been arguing with you.

You said that there was 130 million in debt that Ashley didn't know existed when he bought the club. I simply said if Ashley said he didn't realise that amount was there because it was hidden he is lying. You seam to be happy to accept what @Grumpy Old Man says so ask him if its possible that Ashley's accountants could miss 130 million pounds because it was hidden and for nobody to go to prison for it once that debt was found. The debt may have been called in unexpectedly but they would have known it was there.
You simply can't hide that amount of money in your accounts.

Reiver said:
Beats me :lol:

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not sure what this has to do with it?
 
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AndyH said:
What an earth are you on about cracker jack I haven't even been arguing with you.

You said that there was 130 million in debt that Ashley didn't know existed when he bought the club. I simply said if Ashley said he didn't realise that amount was there because it was hidden he is lying. You seam to be happy to accept what @Grumpy Old Man says so ask him if its possible that Ashley's accountants could miss 130 million pounds because it was hidden and for nobody to go to prison for it once that debt was found. The debt may have been called in unexpectedly but they would have known it was there.
You simply can't hide that amount of money in your accounts.
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Why would anyone be sent to prison?

Have you never heard the expression 'caveat emptor' .... the books of any company are opened for the proposed buyer.

If the buyers accountants miss things that's the fault of the buyer, not the seller.

This kind of accountant earns huge fees for being able to find 'hidden' debts etc.
 
People speculating about what Ashley did or did not know. Nobody on here will ever find out. Draw a line out of it and talk about something else.
 
Sir Tasker said:
Mags speculating about what Ashley did or did not know.

Nobody on here will ever find out. Draw a line out of it and talk about something else.
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It's a chat forum, people are chatting .... if you don't like it no one's making you come on a ten o'clock at night.

It's none of your business as far as I can see.
 
Sir Tasker said:
You seem an angry chap Reiver. Hopefully I have got you wrong. But you certainly don't make people welcome on here.
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Please explain why what I just said was angry or insulting, have I used bad language?

You have no right to come on here dictating what can be discussed, if you're offended by that I'm afraid I couldn't care less tbh.
 
Reiver said:
Please explain why what I just said was angry or insulting, have I used bad language?

You have no right to come on here dictating what can be discussed, if you're offended by that I'm afraid I couldn't care less tbh.
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I am not offended. I just happen to think that of the regular posters on here, you are one of the better ones.

Like you say, it's a chat forum. I can't do much chatting on here if I follow your suggestion of not coming on here.
 
Sir Tasker said:
I am not offended. I just happen to think that of the regular posters on here, you are one of the better ones.

Like you say, it's a chat forum. I can't do much chatting on here if I follow your suggestion of not coming on here.
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Nor can anyone else if they do what you're telling them to do and stop chatting.

"Draw a line out of it and talk about something else."

If the subject doesn't suit you there's no compulsion to join in ..... just ignore it or start a thread you prefer.

Or go on a Newcastle board.
 
Newcastle boards are not as good. I like it here. You are normally OK, but you are having a tantrum today. Hopefully you will be better tomorrow.
 
Sir Tasker said:
Newcastle boards are not as good. I like it here. You are normally OK, but you are having a tantrum today. Hopefully you will be better tomorrow.
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That's your opinion .... wrong but there you go.

As I've said, if you believe you can dictate what people talk about, you're wrong again.

I'll leave it there.
 
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