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News and Commentary On Newcastle United Football Club By Ed Harrison, A Proud Exiled Geordie And Lifelong Fan

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Surprising News On Newcastle’s Financial Dealings

10:32 am, Friday, September 13th, 2013 by Dr. Ed Harrison · 24 Comments

Alan Pardew has admitted in the Evening Chronicle  today that if Newcastle had brought in another striker like Loic Remy, Newcastle would have had to borrow the money, until they got the Premier League money – between £60M and £100M next May – but the truth is an awful lot of other Premier league clubs have already spent some of that money.

alan pardew in white

Alan Pardew – we didn’t want an overdraft

We agree that financially it’s better not to have to borrow money, certainly not in the amounts that Freddy Shepherd borrowed to buy expensive players for Newcastle, but in the interests of having a good side,  borrowing  say £20M for nine months – and being able to pay it off next May isn’t exactly a big  risk.

This is how Alan Pardew explained things in the Chronicle today:

“They all expected a marquee signing, although I have to say a marquee signing would have taken us into our overdraft facility.”

“That was something we really didn’t want to do, although there were two or three bids that went in that would have definitely put us in that.”

“There was the will there, but I don’t wantto say any more than that.” “I don’t want to affect our fans any more than they’ve been affected.”

“They’re disappointed, but we still carry a team that can have a successful season.”  “I don’t want to give our fans any kind of discussion about January.”

“We’ll get plenty of time to talk about that leading up to it.”  “I stated that I wanted another offensive player.”  “Another striker would have helped us.”

“I’m really happy with my strikers, but I’m a bit vulnerable to injury.”“But everybody has trained, and we’ve got a great team to turn up at Villa.”

“We’ve got a really good side, and a good bench, a bench which can affect the game.”  “I don’t want to talk about that. But for the mood of everybody, it’s been tough.”

What’s become clear to us over the summer, is that the priority of  Mike Ashley is to have good, maybe very good financial books, and that’s at the expense of bringing in top players.

Here’s a perfect illustration of that – but clubs like West Ham, Fulham, Norwich, Swansea, Cardiff, West Brom and others have all spent money they didn’t y have this summer, and the top clubs always do that – but their future revenues are so high that they can quickly pay off the balances and keep themselves above water.

So this  is an illustration of the lack of ambition of Ashley – and while it is very good he now has the financial books in good order ( we don’t want to minimize that) –  he needs to loosen the purse strings  a little, so that we can bring in some good players, even if it means going into debt for a short nine months.

Just think what the fans’ mood would be right now, if we had brought Gomis in. and say a couple of good English players over the last week of the transfer window – and that’s in addition to Loic Remy.

After all the success of a football club is measured on the field of play, and not what we have in the bank.

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Tags: Financial Fair Play · Financials · Newcastle News · Recruitment · Scouting Network · Transfer News and Rumours



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24 responses so far ↓

  • 1 Ibizatoon // Sep 13, 2013 at 10:39 AM

    “Very good financial books”? By the sounds of it we’re on the brink of financial catastrophe.

    Going to go check down the back of the sofa and see what I can contribute to the club…can’t have the lights going off.

  • 2 Transfer Sage // Sep 13, 2013 at 10:43 AM

    ibiza

    It makes little sense, why keep mentioning snippets of info then saying he doesn’t want to talk about it. I normally defend what pardew says as it cant be easy…but he really doesn’t help himself at times.

    I do like how he said he wanted a striker though, nice to hear what he does think when he is honest.

  • 3 Ibizatoon // Sep 13, 2013 at 10:46 AM

    TS…I gave up with Pardews comments a while ago.

    I don’t expect him to rock the boat too much, nor do I think it’s really that beneficial if he does.

    Some of what he says is really annoying, but I think it’s also clear to see what he really thinks.

    Bottom line is, he says these things for a reason. If he is replaced, the next guy (or woman, let’s be open minded) will have to do the same.

    I don’t believe for a second that Pardew comes out with this stuff all by himself, so see no point in letting him wind me up.

  • 4 Barton // Sep 13, 2013 at 10:48 AM

    I dont believe a word that comes out of Pardews mouth,he jst like the other 2 (Cashley,jokekinnear) compulsive liars……

    (And we are the bigger mugs for taking it day in,day out)

  • 5 jeff // Sep 13, 2013 at 10:50 AM

    this blog is poorly set out and the articles hastily written and often bereft of thought ibiza

  • 6 Transfer Sage // Sep 13, 2013 at 10:52 AM

    ibiza

    exactly, totally agree with that. It doesn’t bother me what he says, he knows he can be replaced, he knows he wont get a better job and as a result toes the party line.

    I have no problem with this, for all we don’t like it, he ultimately must look after himself and his family and therefore needs to keep his job.

  • 7 Hatem's better than Messi // Sep 13, 2013 at 10:57 AM

    Great no players in but the books are healthy and the accountants happy.

    Our season depends on Remy’s fitness. As Cisse isn’t linking with the midfield when used as lone striker.

    Perhaps we can parade the club’s accounts through the city centre in an open topped bus?

  • 8 nufc 11 // Sep 13, 2013 at 10:57 AM

    Have we an option to sign Remy permanetly?

  • 9 DevonMag // Sep 13, 2013 at 11:01 AM

    I’m traveling up to Villa this Saturday for my first match of the season, and was over the moon about our current injury situation essentially forcing Pardew’s hand in picking an exciting, attacking line up. I was expecting something like this:

    Krul
    Debuchy–Colo–MYM–Santon
    Ben Arfa-Anita-Sissoko-Marvaux
    ———–Cisse–Remy———-

    With Cabaye coming on second half for Anita, and Gouffran in the mix from the bench, too. Having a fully fit squad is actually BAD news! So help me god, if Pardew takes all the players who have WORKED their way into the team with decent performances out for the old guard and plays a team like this:

    Krul
    Debuchy–Colo–Taylor–Santon
    Ben Arfa–Tiote–Cabaye–Jonas
    ———-Cisse–Shola————

    I will be so, SO angry! Don’t do it Pardew! Don’t you dare do it!

  • 10 gonz // Sep 13, 2013 at 11:01 AM

    who shit in your cereal bowl Jeff?

  • 11 Dekasalya // Sep 13, 2013 at 11:02 AM

    I think that the article in The Guardian yesterday might tell you quite a lot about the transparency around the Clubs financial situation.

    http://www.theguardian.com/business/2013/sep/11/sports-direct-ftse100-meeting-share

    The corporate governance is open to question and the workers are being gouged, but, hey, Ashley does not have to talk about it and the profit goes to him anyway.

    Ashley owns 60% of a FTSE 100 company, and Pardew piffles on about the club overdraft.

  • 12 cyprus // Sep 13, 2013 at 11:06 AM

    Ed,
    I must admit that I detect a shift in your attitude… You were all praise for the ‘5 year plan’, ‘stability’ etc. Now you seem to have moved into the anti-Ashley camp. No problem with me, but probably best to strike a balance? Next thing we know you’ll be criticizing your hero: AP :)

  • 13 bobby mango // Sep 13, 2013 at 11:11 AM

    Lets be straight here… Pardew doesn’t deserve any defence.

    He can tow the line but could do it in a much better fashion that he does. The amount he contradicts himself is insane.

    This is just more garbage… First we were in for Aubameyang and then Gomis for decent sums.

    We’re not asking for marquee signings you tool. Just two decent additions and we’d be happy.

    And sod having to wait for the 60m payout. We get money every year, yes it’s more next year but we should still have something available.

    The only club in the league to not sign a senior player. Sorry but there’s no way that can be justified.

    Ashley fails to realise the short term future must be secured for there to be any long term gains.

  • 14 workyticket // Sep 13, 2013 at 11:58 AM

    “Here’s a perfect illustration of that – but clubs like West Ham, Fulham, Norwich, Swansea, Cardiff, West Brom and others have all spent money they didn’t y have”

    That isn’t true, Ed. Unlike Newcastle United, Norwich and Swansea prepared for this season with no debt, and WBA’s is minimal. Norwich’s turnover figures are excellent for a club of their size and Swansea have about the lowest wage bill in the Premier League too. They’re just very well run clubs.

  • 15 Billythefish // Sep 13, 2013 at 12:01 PM

    I just want Ashley to sell up and take his Arseholes with him.
    Sick of accountants, sick of lies. We could and should be dining at footballs to table, but are living off McDonald s cheese burgers. That’s all we can afford apparently.

  • 16 widowmagandapoke // Sep 13, 2013 at 1:23 PM

    What’s wrong with the bank of Sports Direct/ Surely Ashley can provide an interest fee koan for a few months. Look at Man City et all.

  • 17 Dekasalya // Sep 13, 2013 at 1:39 PM

    Pedantry warning

    I am annoyed about this now:

    Marquee – a large tent

    Marque – a top quality brand

    I think “marque” is pronounced “mark”.

    I fear that Pardew and Kinnear may be aiming to sign a Big Top in the January window. Still maybe JFK will be more successful at buying tents than he has been at signing players?

  • 18 Fumaca // Sep 13, 2013 at 2:21 PM

    NUFC values

    Don’t go into your overdraft

    Don’t spend money you don’t have

    Its too risky spending money based on expected future income

    …but don’t forget to get a Wonga loan

  • 19 GeordieTwo // Sep 13, 2013 at 5:23 PM

    Pardew keeps defending Ashley’s lack of commitment to the club. It’s a losing game for me. Focus on the football Alan. You seem to have enough problems picking the right team and organizing some actual tactics.

  • 20 GeordieTwo // Sep 13, 2013 at 5:43 PM

    It’s been a frustrating time at the club. Nobody should be happy about it including the three stooges. No more meetings on the yacht losers. If you want a pissup do it somewhere more discrete but I think we would rather have all 3 of you spend the time on club business. You do remember you run Prem club don’t you?

  • 21 sheerbruce // Sep 13, 2013 at 7:12 PM

    Let Ashley slowly take his money back the less we owe him the easier we are to sell. I do think we have a good enough team to make it into the top 10 even with Pard’s he’s not top class but he’s working under impossible conditions for any manager. If he keeps us up maybe someone will buy us next year we’ll be in very good shape money wise anyway

  • 22 miggy // Sep 14, 2013 at 12:00 AM

    More drivel from pardew must be trying to appease the fans a little knowing fine well there be demonstrations ahead but he doesnt want to talk about it the clown he must realise fat ash is rubbing of on him or up against him jerk

  • 23 Sav // Sep 14, 2013 at 1:37 AM

    A marquee can also mean a sign (oten an illuminated one) ie. ‘a name up in lights.’ Its this meaning which I think is intended. However, if Mashley were to take his marquee (a large tent) and JFK and go and camp it somewhere else, I think we’d be equally happy.

  • 24 sphinxhunter // Sep 14, 2013 at 2:30 AM

    Relax. Its prudent to have the money before you spend it. There will still be good player options available when the money comes through.




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