Ashley “close to conceding defeat” re: selling the club

[Speedo]

Well that was fun while the hope lasted

I suppose it’s naive to think that, now he’s likely staying as owner, he might allow the club to spend some money...

Side note: if we are spending money on paying down our debt to him - perhaps it will reduce the asking price in future... that is the only silver lining I can find right now.

[thedeludedfannymagnet2]

Well that was fun while the hope lasted

I suppose it’s naive to think that, now he’s likely staying as owner, he might allow the club to spend some money...

Side note: if we are spending money on paying down our debt to him - perhaps it will reduce the asking price in future... that is the only silver lining I can find right now.

At least you found one ....

[Somebodys pinched my sombrero]

We're stuck with the fat bastard for the foreseeable I'm afraid. "He's conceded defeat?" The horrible t*** had no intention of selling it. Same every year, the block has admitted in court he lied to the club and the fans, and yet STILL, people fall for his crap. Relegation will not affect him, he hasn't sold in the two times we've gone down with him at the helm. If there is a "mass boycott", crowds may fall to 30k, it won't bother him, most money comes from tv revenue.

He's like a dreadful illness at the club we can't get rid of.

Dennis Wise back in his favour? It's like he tries to think up ways to piss us off even further. The absolute cronut.

[overseasTOON]

I think we may well now get one signing this window so Mike can say he did his part.

[bodacious benny]

Let’s wait for the next rumours of a takeover to be announced in summer.

[jpg]

Well that was fun while the hope lasted

I suppose it’s naive to think that, now he’s likely staying as owner, he might allow the club to spend some money...

Side note: if we are spending money on paying down our debt to him - perhaps it will reduce the asking price in future... that is the only silver lining I can find right now.

Clearly wants value of club + debt 'owed' to him paid. I genuinely believe there's no better time to sell than now. Sadly the value of the club is only going to decrease even more as I can't see how we can continue to stay up with the way the club is being run.

This is the least optimistic I've felt about the club's future for a long time.

[Colback's Orange Tufts]

I do think he does want to sell... But only at his large valuation (+paying off debt) which no one wants to meet.

[bodacious benny]

shame he doesn’t enjoy saving failing football clubs as much as he enjoys saving fallen high street giants.

[Double Agent Bruce a.k.a DAB]

The clubs are part of any comunity. Therefore there's huge significance how they are managed. That's why I thinkig that their expenses at least must be the most transparent as they can. I'm not talking about the player sales and wages and stuff because they are confidential. But at least to have some accountability with official reports. Because for example now there's a susspicious that ashley use club's money for HoF and HMV which is insane. I don't know if this is possible but would be nice. Or just to reveal all the contracts (not with players and staff) and but without show the exact sums since there must be some confidentiality.

Or at least the FA to regulate more their accounts. Just like Arsenal's fans think that Kroenke take money out of the club because the high ticket prices, the huge commertial and TV revenue and the lack of huge sum for transfers.

Something must be change.

[bodacious benny]

The clubs are part of any comunity. Therefore there's huge significance how they are managed. That's why I thinkig that their expenses at least must be the most transparent as they can. I'm not talking about the player sales and wages and stuff because they are confidential. But at least to have some accountability with official reports. Because for example now there's a susspicious that ashley use club's money for HoF and HMV which is insane. I don't know if this is possible but would be nice. Or just to reveal all the contracts (not with players and staff) and but without show the exact sums since there must be some confidentiality.

Or at least the FA to regulate more their accounts. Just like Arsenal's fans think that Kroenke take money out of the club because the high ticket prices, the huge commertial and TV revenue and the lack of huge sum for transfers.

Something must be change.

I think it's something that would be 'nice to have' rather than something clubs should have to do. Yes, they're important parts of the community but they are private businesses at the end of the day so normal business rules apply.

[Colback's Orange Tufts]

The clubs are part of any comunity. Therefore there's huge significance how they are managed. That's why I thinkig that their expenses at least must be the most transparent as they can. I'm not talking about the player sales and wages and stuff because they are confidential. But at least to have some accountability with official reports. Because for example now there's a susspicious that ashley use club's money for HoF and HMV which is insane. I don't know if this is possible but would be nice. Or just to reveal all the contracts (not with players and staff) and but without show the exact sums since there must be some confidentiality.

Or at least the FA to regulate more their accounts. Just like Arsenal's fans think that Kroenke take money out of the club because the high ticket prices, the huge commertial and TV revenue and the lack of huge sum for transfers.

Something must be change.

I mean if the club purchases any of the assets of HMV it would be in the public domain via the administration process. And belatedly we'd see it in NUFC accounts (have to disclose shareholdings in other companies). As it happens I don't think we are well enough run to make Mr Ashley significant sums.

But if he wants to pay money out of NUFC through dividends or debt repayments he can. I don't want him to, but NUFC is a business he owns, he has the right to pay himself as long as there is a profit reserve*. Even if an owner is taking huge sums of money out of a club (the Glazers); that's their rights, its a business not a Co-Op. Can the FA require clubs to spend a set amount on players or not enrich their owners?

(* or for debt whenever he wants)

[Donkey Toon]

The clubs are part of any comunity. Therefore there's huge significance how they are managed. That's why I thinkig that their expenses at least must be the most transparent as they can. I'm not talking about the player sales and wages and stuff because they are confidential. But at least to have some accountability with official reports. Because for example now there's a susspicious that ashley use club's money for HoF and HMV which is insane. I don't know if this is possible but would be nice. Or just to reveal all the contracts (not with players and staff) and but without show the exact sums since there must be some confidentiality.

Or at least the FA to regulate more their accounts. Just like Arsenal's fans think that Kroenke take money out of the club because the high ticket prices, the huge commertial and TV revenue and the lack of huge sum for transfers.

Something must be change.

I mean if the club purchases any of the assets of HMV it would be in the public domain via the administration process. And belatedly we'd see it in NUFC accounts (have to disclose shareholdings in other companies). As it happens I don't think we are well enough run to make Mr Ashley significant sums.

But if he wants to pay money out of NUFC through dividends or debt repayments he can. I don't want him to, but NUFC is a business he owns, he has the right to pay himself as long as there is a profit reserve*. Even if an owner is taking huge sums of money out of a club (the Glazers); that's their rights, its a business not a Co-Op. Can the FA require clubs to spend a set amount on players or not enrich their owners?

(* or for debt whenever he wants)

Exactly. Ashley has pumped shed loads of cash into the club in the form of interest free, repayable on demand loans and he is entitled to repayment whenever he wants, no questions asked. He isn't taking the clubs money, he is demanding partial repayment of what the club owes him.

[Captain Obvious]

But how can we still owe money to him when net spend is so low? Where is the TV money etc etc.

And what does the club make in money for all the Sports Direct advertising that could otherwise be sold for money?

[Ol' Dirty Bas Dost]

He's an owner in the mould of Hicks and Gillett. The main difference is that there's only one of him so there aren't quite the same conflagrations in the boardroom. But I'm beginning to believe that the next time this club gets sold it will be as part of a court order.

[Donkey Toon]

But how can we still owe money to him when net spend is so low? Where is the TV money etc etc.

And what does the club make in money for all the Sports Direct advertising that could otherwise be sold for money?

The TV money is a fraction of the sum owed to Ashley and the net spend is irrelevant to the realities of compant cash flow. The net spend just compares agreed purchase prices of players vs agreed sale prices, within a specified period of time. It doesn't take into account that NUFC generally pays 100% cash up front when buying whilst accepting deferred or stage payments for sales. I believe we are still owed several payments for Sissoko.

The club makes nothing from the SD advertising. MA has obviously decided that he will take that in lieu of interest on his loans and personally I am ok with that.

[bodacious benny]

But how can we still owe money to him when net spend is so low? Where is the TV money etc etc.

And what does the club make in money for all the Sports Direct advertising that could otherwise be sold for money?

I believe we are still owed several payments for Sissoko.

Although didn't Spurs fans claim that if they sold him they didn't have to keep making payments to us

[Colback's Orange Tufts]

I mean if the club purchases any of the assets of HMV it would be in the public domain via the administration process. And belatedly we'd see it in NUFC accounts (have to disclose shareholdings in other companies). As it happens I don't think we are well enough run to make Mr Ashley significant sums.

But if he wants to pay money out of NUFC through dividends or debt repayments he can. I don't want him to, but NUFC is a business he owns, he has the right to pay himself as long as there is a profit reserve*. Even if an owner is taking huge sums of money out of a club (the Glazers); that's their rights, its a business not a Co-Op. Can the FA require clubs to spend a set amount on players or not enrich their owners?

(* or for debt whenever he wants)

Exactly. Ashley has pumped shed loads of cash into the club in the form of interest free, repayable on demand loans and he is entitled to repayment whenever he wants, no questions asked. He isn't taking the clubs money, he is demanding partial repayment of what the club owes him.

Of course prospective buyers will argue he has destroyed value at the club and so shouldn't get back what he put in... And there comes the impasse

[Donkey Toon]

Exactly. Ashley has pumped shed loads of cash into the club in the form of interest free, repayable on demand loans and he is entitled to repayment whenever he wants, no questions asked. He isn't taking the clubs money, he is demanding partial repayment of what the club owes him.

Of course prospective buyers will argue he has destroyed value at the club and so shouldn't get back what he put in... And there comes the impasse

Which is a **** argument made by somebody trying to haggle down a price. The legal reality is that one legal entity owes another legal entity a sum of money in line with a legally binding loan agreement. What buyers may think is utterly irrelevant.

[Remember Colo]

Of course prospective buyers will argue he has destroyed value at the club and so shouldn't get back what he put in... And there comes the impasse

Which is a **** argument made by somebody trying to haggle down a price. The legal reality is that one legal entity owes another legal entity a sum of money in line with a legally binding loan agreement. What buyers may think is utterly irrelevant.

I love when DT drops the accountant hammer on the forum

[Captain Obvious]

But how can we still owe money to him when net spend is so low? Where is the TV money etc etc.

And what does the club make in money for all the Sports Direct advertising that could otherwise be sold for money?

The TV money is a fraction of the sum owed to Ashley and the net spend is irrelevant to the realities of compant cash flow. The net spend just compares agreed purchase prices of players vs agreed sale prices, within a specified period of time. It doesn't take into account that NUFC generally pays 100% cash up front when buying whilst accepting deferred or stage payments for sales. I believe we are still owed several payments for Sissoko.

The club makes nothing from the SD advertising. MA has obviously decided that he will take that in lieu of interest on his loans and personally I am ok with that.

£123million last season https://talksport.com/football/376346/h ... 518283150/

Plus all the other income, sponsorship, matchday revenue. Parachute payements when we went down, huge transfer sales. I can't read the numbers and you can, I accept, but there must be money somewhere. If FFP is levelling the playing field and the likes of Brighton and Cardiff are chucking huge fees around, why can't we. Where's our money?