Bobby Moncur has defended Newcastle club owner Mike Ashley today.
Mike Ashley – inherited a financial mess
Mike Ashley is under fire from some Newcastle fans for spending no net transfer money, as yet, this summer in the transfer window, after the owner said in early February he would reinvest the £35M the club got for Andy Carroll from Liverpool.
Newcastle have signed free agents Demba Ba, and French midfielders Sylvain Marveaux and Mehdi Abeid – and the £4.5M fee paid out for Yohan Cabaye was canceled out by the £4.5M Newcastle received from West Ham for former captain Kevin Nolan.
Most of the £35M has seemingly gone towards the wages of the new players, over the length of their contracts, but nothing has yet been shelled out in transfer fees, that’s for sure.
But Moncur has said the complete financial mess that Mike Ashley inherited from former Chairman Freddy Shepherd when he bought Newcastle back in 2007, has made it difficult fot the owner, especially after the club were also surprisingly relegated in the summer of 2009.
Under Freddy Shepherd the club seemed to spend big money, that they just didn’t have – picky picky.
This is what Bobby Moncur said today:
“To be fair to Mike Ashley and Derek Llambias, there’s no doubt the club were in big trouble.” “They managed to stabilize it and they have a plan to move on from here.”
“It’s not a case of buying massive names – Rome wasn’t built in a day.” “People say, ‘Where has the £35M gone?’. But I’m sure there’s a good explanation.”
“When Mike Ashley went in, it was a mess. That’s why he tried to sell the club.’’ “I think they got off to a terrible start when they took over. They need to try to get together with the fans.”
That last sentence is what we’ve been saying for the last four years since Mike has been the owner of Newcastle, but the hierarchy for some strange reason refuse to even talk to the Newcastle fans, and that is hardly helping them.
There’s no doubt Newcastle are putting their financial house in order, and we also have to remember that at some stage the club will need to pay back the £130M or whatever the latest figure is, that Mike Ashley has loaned the club at a zero interest rate, to help pay off the debts.
Mike Ashley did get a surprise two months after taking over Newcastle, that the club had a £100M debt that he knew nothing about, when he bought the club in May of 2007, because Mike didn’t take the time to do the requisite due diligence.
Newcastle are seemingly in a much safer and stronger financial stae now, than they were four years ago.