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So here it is ....

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Mboma said:
So because you don't want to read about it, it shouldn't be on here?.....yet there's still people posting about it and Grumpy was asked to do it so why not look past what you want or just read a different post?

Now that you know this one is of no interest to you, there's no need for you to be on it is there?
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I’m allowed my opinion, just as you are. Didn’t know we had so many big Newcastle fans on the board
 
Grumpy Old Man said:
Given the early end to the window, that's going to compress everything into about three weeks. Jim White's going to have to up his blood pressure meds :)
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The top teams get it done, they have the money to not give 2 fucks, however we will sign only the keeper until after the world cup nailed on, and expected tbh.

Kennedy won't be bought, forget him, but add a couple of quality buys and this squad can hold it's own to stay up, we wont improve on 10th, just my opinion based on i was expecting as many were for us to just avoid relegation........hence we thought Benitez did a great job.
 
Grumpy Old Man said:
with a 50% increase in the wage bill. They will no doubt claim this is inflated by promotion payments, which indeed it is; but only to the tune of £10m (which is hidden in the small print of the director’s strategic review, rather than in main accounts and notes). That leaves them re-entering the PL with a wage bill 38% higher than when they left, before any transfer activity last summer.
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Excellent analysis as always, just one question. Has the wage bill really gone up so much? When the promotion bonus and onerous contract provisions are taken out, I make only an 8% increase

Grumpy Old Man said:
If he ever did use cash from profits to repay the loans he's made to you, you;d probably hear the howls of protest from Middlesbrough.
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I'd disagree with that point,some thickos would see it as a bad thing, but I for one and hopefully most others would see it for the positive new it would be, him weakening his hold and making the club more attractive to potential buyers
 
Pukka pad said:
The top teams get it done, they have the money to not give 2 fucks, however we will sign only the keeper until after the world cup nailed on, and expected tbh.

Kennedy won't be bought, forget him, but add a couple of quality buys and this squad can hold it's own to stay up, we wont improve on 10th, just my opinion based on i was expecting as many were for us to just avoid relegation........hence we thought Benitez did a great job.
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Is that the keeper lad that you had in on loan? He looked canny in fairness - did well.
 
Grumpy Old Man said:
If he ever did use cash from profits to repay the loans he's made to you, you;d probably hear the howls of protest from Middlesbrough. That fact of the provision of advertising is made is, rightly, disclosed. It has no value attached to it because the opportunity cost to Newcastle of not charging for it is not quantified in the accounts, and therefore has no impact on the figures presented. You may feel that it should, but that's not what accounting standards say. You can only attach values to transactions that actually occurred, not notional ones.
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The advertising is worth millions but he does not charge Sports Direct but Nufc has to pay Sports Direct for goods. It’s all financial manoeuvring to assist Sports Direct share price and an attempt to manage Newcastle supporters expectations. The fact that this money mad utterly ruthless billionaire still owns us and is making it almost impossible for others to buy says everything.

The published accounts tell the story Mike wants to paint. There’s other analysis to suggest that in terms of EBITDA the loss was around £24M. I’m not sure if that includes transfer money owing (don’t think it does) and there’s the black hole of advertising. He’s treating everyone like fools.
 
Hey moustache said:
Excellent analysis as always, just one question. Has the wage bill really gone up so much? When the promotion bonus and onerous contract provisions are taken out, I make only an 8% increase



I'd disagree with that point,some thickos would see it as a bad thing, but I for one and hopefully most others would see it for the positive new it would be, him weakening his hold and making the club more attractive to potential buyers
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I'll take the points. It only really dawned on me fairly late on about what the provisions could be about, and I didn't change the original percentages. And, while you can understand what a loan repayment would really mean, the very loud "just give Rafa every penny you've got" brigade would see it very differently.
 
Friendly Fire said:
The advertising is worth millions but he does not charge Sports Direct but Nufc has to pay Sports Direct for goods. It’s all financial manoeuvring to assist Sports Direct share price and an attempt to manage Newcastle supporters expectations. The fact that this money mad utterly ruthless billionaire still owns us and is making it almost impossible for others to buy says everything.

The published accounts tell the story Mike wants to paint. There’s other analysis to suggest that in terms of EBITDA the loss was around £24M. I’m not sure if that includes transfer money owing (don’t think it does) and there’s the black hole of advertising. He’s treating everyone like fools.
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This is absolutely spot on IMO - the FCW just sees Newcastle as an advertising vehicle for his sweat shop clothing outfit. Big stadium, big support and a big club in a big league that gets a lot of TV coverage, if he can keep their heads above water without having to inject masses of his own cash he's got to be laughing in the long run.

He likes a gamble and acts like a twat - everybody knows that. They finished tenth this season and that's not bad at all, the fans and the manager want investment to try and push on but they won't get it from Ashely, he's a "that'll do" kinda guy IMO, they could finish 17th every year from now until the end of time and he'd be pleased.

If the rumours about his asking price are true then it's obvious that he doesn't want to sell any time soon.
 
SAFC_ABZ said:
This is absolutely spot on IMO - the FCW just sees Newcastle as an advertising vehicle for his sweat shop clothing outfit. Big stadium, big support and a big club in a big league that gets a lot of TV coverage, if he can keep their heads above water without having to inject masses of his own cash he's got to be laughing in the long run.

He likes a gamble and acts like a twat - everybody knows that. They finished tenth this season and that's not bad at all, the fans and the manager want investment to try and push on but they won't get it from Ashely, he's a "that'll do" kinda guy IMO, they could finish 17th every year from now until the end of time and he'd be pleased.

If the rumours about his asking price are true then it's obvious that he doesn't want to sell any time soon.
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Sounds familiar to us.
 
Friendly Fire said:
The advertising is worth millions but he does not charge Sports Direct but Nufc has to pay Sports Direct for goods. It’s all financial manoeuvring to assist Sports Direct share price and an attempt to manage Newcastle supporters expectations. The fact that this money mad utterly ruthless billionaire still owns us and is making it almost impossible for others to buy says everything.

The published accounts tell the story Mike wants to paint. There’s other analysis to suggest that in terms of EBITDA the loss was around £24M. I’m not sure if that includes transfer money owing (don’t think it does) and there’s the black hole of advertising. He’s treating everyone like fools.
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EBITDA is a meaningless measure. Excluding all player trading (amortisation and profit/loss on transfers), your trading loss was £55m. That's simply the difference between day to day income and day to day spend. If you include player profits (£43m) and ignore all amortisation and depreciation (£39m), you get loss before interest and depreciation of £9m (91-43-39), but I don't see how or why that's a particularly meaningful number, since the player profit is simply selling price less net book value (which is cost less amortisation to date), rather than selling price less original cost.
 
Grumpy Old Man said:
EBITDA is a meaningless measure. Excluding all player trading (amortisation and profit/loss on transfers), your trading loss was £55m. That's simply the difference between day to day income and day to day spend. If you include player profits (£43m) and ignore all amortisation and depreciation (£39m), you get loss before interest and depreciation of £9m (91-43-39), but I don't see how or why that's a particularly meaningful number, since the player profit is simply selling price less net book value (which is cost less amortisation to date), rather than selling price less original cost.
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I wish you’d been my accountant when I was a PLC :)
 
Friendly Fire said:
The advertising is worth millions but he does not charge Sports Direct but Nufc has to pay Sports Direct for goods. It’s all financial manoeuvring to assist Sports Direct share price and an attempt to manage Newcastle supporters expectations. The fact that this money mad utterly ruthless billionaire still owns us and is making it almost impossible for others to buy says everything.

The published accounts tell the story Mike wants to paint. There’s other analysis to suggest that in terms of EBITDA the loss was around £24M. I’m not sure if that includes transfer money owing (don’t think it does) and there’s the black hole of advertising. He’s treating everyone like fools.
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It's the decrease in commercial revenue during his ownership that is particularly annoying when he bought the club it was 28m it's now only 15m. It's somehow decreased while other clubs has massively increased
 
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