Rio Ferdinand

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keybuk said:
What do you expect people to do? Are we supposed to sit there and accept the situation? We have an owner who is preying on the loyalty of the fans to line his own pockets. It's glaringly obvious and has been for some time that the squad is not strong enough. I'm not suggesting that he bankrolls them. However he should be prepared to at least release funds that are coming into the club to improve the team. If he doesn't want to do that then why is he involved in football?
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Behaving like adults and getting a snug grip on reality would be a starting point.
 
What A Waster said:
He has taken a portion of the loan back since the accounts were published. Was confirmed at the fans forum meeting in September (think it was September), but the amount was not disclosed.



Newcastle pay for players outright. They have said that they believe they get a better deal if paying the full amount up front. So if there isn't enough in the bank, even a player of £12m is beyond our reach.
They sell players and take instalments, as they believe it incentivizes the buying club to pay more.
Not even sure if that's relevant on reflection, but I've typed it out anyway
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Probably more a reflection of desire to sell the club than anything else. It will enable him to drop his asking price pound for pound.
 
Grumpy Old Man said:
All the loans from Ashley are interest free. Looking at their accounts, there have been no reductions in that debt in recent seasons. He takes no salary. Transactions between NUFC and Sports Direct are fully disclosed in the accounts, and are stated to be on "normal commercial terms". Yet apparently Ashley is "trousering the cash" from any transfer surplus. They're not only deluded, they're financially illiterate as well.



MASH Holdings is Ashley's personal investment company 100% owned by him. It also holds his shares in Sports Direct. Totally standard procedure. Just as the shares in Sunderland Ltd are held by Madrox Partners, a company co-owned by Donoald, Methven and Sartori.

In any event, under limited liability (that's what the Ltd in a name means), the shareholders are not liable for a company's debts, unless they have separately made personal guarantees to the lenders.
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I think you are being somewhat unfair there.
If someone publicly states that the manager can use all the money generated by transfers but then that money is not fully exhausted when there is a clear need to strengthen then it's not unreasonable to claim it is being trousered. Obviously it would help if I was a qualified accountant but like most of the population I'm not so I will take the simplistic view.

What I cannot understand is if Ashley is not making anything out of owning the club then why does he persist in owning it.
 
keybuk said:
If someone publicly states that the manager can use all the money generated by transfers but then that money is not fully exhausted when there is a clear need to strengthen then it's not unreasonable to claim it is being trousered. Obviously it would help if I was a qualified accountant but like most of the population I'm not so I will take the simplistic view.
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It's gone on wages.
 
keybuk said:
I think you are being somewhat unfair there.
If someone publicly states that the manager can use all the money generated by transfers but then that money is not fully exhausted when there is a clear need to strengthen then it's not unreasonable to claim it is being trousered. Obviously it would help if I was a qualified accountant but like most of the population I'm not so I will take the simplistic view.

What I cannot understand is if Ashley is not making anything out of owning the club then why does he persist in owning it.
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Most owners don't expect to make income from it. They hope to sell a club for more than they paid for it, making a capital gain when they sell it, which is exactly why Ashley is looking for his asking price.

At to your first point, you're making the mistake of looking at transfers in isolation. If you're making trading losses, as Newcastle did the season they went up, any transfer surplus is absorbed in meeting day to day running costs. Using transfer surpluses this way is how most teams outside the PL make ends meet.
 
Mary Hinge said:
So what's the turtle wage bill? New way it's dropped from £112m in the pub league...
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The figures are not out for the 17/18 season.
But in 15/16 the wage bill was £75m.
Do you really think a man like Ashley is going to increase the wage bill by almost £40m, despite losing £100m in tv money?
Keep in mind that when we dropped to the championship, wijnaldum, cisse, sissoko, janmaat, taylor, townsend, and a few other first team players all left. There were 15 departures that summer.
There is no way the likes of Grant Hanley, Daryl Murphy et al were on more money than those that left.
 
What A Waster said:
The figures are not out for the 17/18 season.
But in 15/16 the wage bill was £75m.
Do you really think a man like Ashley is going to increase the wage bill by almost £40m, despite losing £100m in tv money?
Keep in mind that when we dropped to the championship, wijnaldum, cisse, sissoko, janmaat, taylor, townsend, and a few other first team players all left. There were 15 departures that summer.
There is no way the likes of Grant Hanley, Daryl Murphy et al were on more money than those that left.
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I'm not going to argue with grumpys interpretation of the accounts as he's far better place than me to understand the financial jiggery pokery that sits behind accounting. But there's something about the whole thing that just isn't right. The club might have large outgoings but they get a hell of a lot coming in. They may have had a couple of seasons out of the Sky TV money but so have other clubs. Season tickets might be a bit cheaper than other places but they sell a lot more than other clubs. There are a number of clubs against whom we should be able to compete financially and yet we are not able to.
 
What A Waster said:
The figures are not out for the 17/18 season.
But in 15/16 the wage bill was £75m.
Do you really think a man like Ashley is going to increase the wage bill by almost £40m, despite losing £100m in tv money?
Keep in mind that when we dropped to the championship, wijnaldum, cisse, sissoko, janmaat, taylor, townsend, and a few other first team players all left. There were 15 departures that summer.
There is no way the likes of Grant Hanley, Daryl Murphy et al were on more money than those that left.
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The ingratitude to 'Eshley's Fookin staggering like........Rio's Right......
 
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