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The Reason Ashley Doesn´t Speak In Public Much

8:33 am, Wednesday, March 23rd, 2016 by Dr. Ed Harrison · 72 Comments

Mike Ashley gave a long interview to The Times yesterday and he talked about his two companies – Sports Direct and Newcastle United and he did damage to both of them.

It seems like Sports Direct are having trouble making the profit they made in the last financial year and have already issued profit warnings.

Newcastle United are second bottom of the Premier League and odds-on favorites with the bookies to be relegated this season.

mike-ashley-200x300 987

Mike Ashley did damage to both companies yesterday

So when things are already bad you really don´t want to make things any worse, especially when you are the owner of those companies – but Mike managed to do that on both fronts yesterday.

This is some of what he said about Newcastle:

“I have no choice,” “They’ve got me, and I’ve got them. That’s the way it is.”

“All I can say is there is a bank account. When you have emptied it, it’s empty. Don’t come crying to me for more money,” “There is virtually nothing left now. They have emptied it.”

“Do I regret getting into football? The answer is yes.” “I have had tons of fun in it but I haven’t been able to make the difference I wanted to in football.”

“I have virtually nil affect on Newcastle United, in reality, because I only pick the Board.”

“I don’t know what players they sign, I don’t know what team they are going to pick on a Saturday.”

It seems that Mike is frustrated with things at Newcastle, but you never want to show that frustration in public when you know your comments will be reported everywhere – but Mike let his feelings get the better of him yesterday.

And he managed to bring some (more?) negativity to Newcastle United, while Rafa Benitez and others are trying to go in the opposite direction.

And as far as Sports Direct´s faltering profits situation Mike said this to The Times:

“We are in trouble, we are not trading very well. We can’t make the same profit we made last year.”

The shares went down a full 10% yesterday and Sports Direct were forced to issue this statement today to clarify Ashley´s comments:

In the light of recent press coverage, Sports Direct wishes to clarify that its current expectations for adjusted underlying EBITDA [earnings before interest, tax, deductibles, and amortization] (before share scheme costs) for the full year to the end of April 2016 are at or around the bottom of the range announced on 8 January 2016.

Notice we got no clarification on Mike´s comments about Newcastle United from Lee Charnley yesterday.

But what´s new?

So Mike Ashley managed to do damage to both Newcastle United and Sports Direct yesterday and made the current poor situation at both companies that much worse.

If you cannot speak about your companies without causing damage, then don´t speak at all.

And that´s maybe why we never hear much from Mike Ashley in public.

Comments welcome.



Tags: Financials · Management · Newcastle News · Prayer · Premier League · Press · Press Conference




72 responses so far ↓

  • 1 Average_Contents // Mar 23, 2016 at 8:38 AM

    The reason.

    Because he’s a weasel and never had to.

    He’s had to recently only because the pressure is getting unbearable even for a man as remorseless as himself.

    Ashley out!

  • 2 Average_Contents // Mar 23, 2016 at 8:38 AM

    Ashley out!

  • 3 The overrated Frenchman // Mar 23, 2016 at 8:40 AM

    If Ashley is looking for sympathy, I don’t think he’ll find it around Newcastle. Don’t think he’ll find it anywhere, if truth be told.

  • 4 Jib // Mar 23, 2016 at 8:43 AM

    Criticised for being mealy mouthed
    Slagged off for talking straight
    With the goons on here he’s on a lose / lose.

  • 5 Laurent Robert 32 // Mar 23, 2016 at 8:46 AM

    Chronicle piece about the Superior Striker guy and Mitro who I said I saw the segment about on tv when he was coaching Berahino.

    http://www.chroniclelive.co.uk/sport/football/football-news/meet-new-striker-coach-signed-11082938

  • 6 hibbitt // Mar 23, 2016 at 8:53 AM

    i think its all part of Ashleys master plan to take SD private he wants it back and he will do anything he can to get it…… driving the share price down will make it easier to buy the shares back he doesn’t own …………..i honestly think we are being used as a diversion in this power play by Ashley against the SD shareholders

  • 7 cyprus // Mar 23, 2016 at 8:55 AM

    Jib
    You are right

  • 8 AncientC // Mar 23, 2016 at 8:56 AM

    What was it Ashley called MPs, a “joke” wasn’t it?

    LOL, let nature take its course from here on out….

  • 9 Jib // Mar 23, 2016 at 9:02 AM

    AncientC
    You don’t think MP’s are a joke ?
    One of them cut disabled benefit by £30 a week.
    Last year the same guy claimed £165,000 in expenses !

  • 10 Jib // Mar 23, 2016 at 9:06 AM

    Anyway Ed says no politics or religion
    Sorry Ed

  • 11 AncientC // Mar 23, 2016 at 9:13 AM

    Jib, Ashley’s gripe is MPs protecting the poor from his trade practises. You will find no moral high ground, standing aside a Shylock.

  • 12 The overrated Frenchman // Mar 23, 2016 at 9:13 AM

    Jib, good luck when you get the Mike Ashley Appreciation Society up and running. The Newcastle chapter should have some lively meetings. Will you have Mike as the inaugural guest speaker?

  • 13 Mag52 // Mar 23, 2016 at 9:14 AM

    Jib

    Some of them are a joke, possibly most of them, but at least we get to vote them in or vote them out every five years.
    Ashley is the joke we’re ‘stuck with’.

  • 14 Jib // Mar 23, 2016 at 9:15 AM

    Monsieur Frenchman
    No
    We’ll need a really good bullshitter – Tsunki I think

  • 15 gorgonzola ( former Pecorino former to gorgonzola) // Mar 23, 2016 at 9:21 AM

    ““All I can say is there is a bank account. When you have emptied it, it’s empty. Don’t come crying to me for more money,” “There is virtually nothing left now. They have emptied it.””

    Whoolyyyyyyy sh1t the little sympathy I had for him has evaporated with this paragraph. WHY did you buy a football club. We don’t deserve Rafa, and I hope we get relegated and for him to leave….

    What a complete clown, he might as well spit into fans faces.

    I cannot believe this fool has come out and said this. So what is your plan Ashley ? If you do service by some obscene luck, you will fight relegation again because you won’t buy anybody?

    Wow WHO is this person. KK was 100% spot on clueless fool.

  • 16 giimps // Mar 23, 2016 at 9:21 AM

    Hibbit,
    I agree , this all stinks of Bishops smoke and mirrors, hel end up getting his baby back for less than he sold it for , then miraculously, once all the stores he’s just bought open and start trading the value of the empire will rocket.
    It’s no surprise he’s doing this now before the city centre stores with the gym built in open and profits rise exponentially and the value of the shares goes up.
    He’s no mug, by devaluing SD and at the same time buying property in city centres to drop the profits then causing grief with NUFC it’s all misdirection so he can reaquire SD …..imho

  • 17 The overrated Frenchman // Mar 23, 2016 at 9:22 AM

    Jib@14. I don’t speak French, I think it’s overrated. If “Monsieur” is a swear word you are for the high jump my son, I’m over there soon.

  • 18 martoon // Mar 23, 2016 at 9:25 AM

    I have to say if I was on a train to London on my day off and work called to say come in the office immediately I think my answer would be F*** off as well.

  • 19 Derek // Mar 23, 2016 at 9:26 AM

    This is the perfect time for us fans to unite and play a key role in encouraging Ashley to sell our club.

    Sports Direct is in a difficult place just like Newcastle United. If Newcastle fans can raise awareness that SD and Ashley are the NUMBER ONE reason one of England’s most supported clubs is struggling to stay in the Premier League, then we can further harm the profit of SD to the point where Ashley will have no option but to sell up and disassociate SD with NUFC.

    With Ashley saying the NUFC bank account is near empty, he is planting the seed that the upcoming tranfer window is going to be back to the Ashley’s standard low budget approach. There is no future with Ashley here, while a new owner won’t guarrantee success, there must be a higher chance for success with Ashley gone

  • 20 Average_Contents // Mar 23, 2016 at 9:31 AM

    “I’ve stepped back”

    “the only thing I did was appoint the board”

    Not contradictory in the slightest. Ergo not straight talking. The fat cnut couldn’t lie straight in bed.

    Blaming the board for squandering the money yet it’s the board HE appointed.

    I mean, a secretary, a failed manager and a meet and greet from yesteryear.

    Excellent.

    I wonder why they were appointed. It couldn’t possibly be that they are yes men could it. Surely not.

    Do one jizz. Actually jizz is useful.

  • 21 AncientC // Mar 23, 2016 at 9:32 AM

    What choice of words will Ashley find for MPs, when they start looking further into his affairs, after he insulted ministers and parliamentarians. To think some fellow posters thought Ashley was an astute businessman, an intelligent city of London flaneur.

    Imagine the cut of his jib, when he has to stand before a committee and answer for his actions… handcuffed and held in position, no doubt.

  • 22 banjax // Mar 23, 2016 at 9:35 AM

    Damned if you do, damned if you don’t – that’s Mike Ashley. Just when he starts talking and answering questions, the people who accuse him of not talking enough are moaning that he’s talking too much and telling him to shut up. There’s not doubt Mike Ashley is to blame for 100% of everything that is wrong at the club and over the years has treated us all like mushrooms, but lately (probably too late) he’s has had his ‘Damascus Moment’ and put £millions into the club to buy players. The point I’m making is that Ashley has now realised the mistakes he has made in the running of the club by listening to the wrong people. Those (like me) who want him out of our club may get their wish, judging by his comments of regret at buying the club, he may just sell up, maybe. But whatever his past faults, just remember it is Mike Ashley who has cost himself the financial misery of a black hole in his finances. At worst we get relegated but bringing in Benitez at last shows he is listening and learning from errors of the past. All that needs to be done in the Summer, regardless of what happens, is the sacking of the chairman and a radical overhaul of Newcastle’s modus operandi.

  • 23 Jib // Mar 23, 2016 at 9:35 AM

    “All I can say is there is a bank account. When you have emptied it, it’s empty. Don’t come crying to me for more money,”

    That was a reply to a question about relegation.

    I think him saying no more loans is fair comment.

    We get £75 million off Sky in the Summer no matter what

  • 24 Goldmbemba // Mar 23, 2016 at 9:37 AM

    Derek
    I agree we need a better owner but I fear this is the least likely time for it to happen. With the uncertainty til the end of the season.

    Having got Rafa is surreal, mindblowing –
    But I feel just like when you have the most amazing dream only to wake up to discover its not true.

  • 25 WWSBRD // Mar 23, 2016 at 9:47 AM

    Ashley saying no more loans is a fair comment? Despite the little issue that if we are relegated again its down to his negligence (opposed to his interfering last time)? Actually even if he had been innocent in all this he is still the owner its his responsibility to show some level of care is it not?

    If Ashley wants to be removed from NUFC he should appoint a real board who can do the job he so happily sticks his finger up to until he finds someone to sell to and then leaves with that swag bag over his shoulder

  • 26 Rotonda heights // Mar 23, 2016 at 9:48 AM

    Jib

    I think the feeeling is yes Ash has finally put money in and at long, long last also appointed a top manager.

    However, the circuitous route Ash took to arrive at both all smacks of a very long delayed sense of panic that now pervades so heavily in the air with so many riches to imminently lose.

    Ash can not really garner too much sympathy when his previous antics of relentlessly appointing low grade employees at all levels surprisingly comes back to bite you. Ash has apparently flown too close to the sun with us and SD.

  • 27 Jib // Mar 23, 2016 at 9:49 AM

    When people said last season we could get a world class manager and spend big in the next 2 windows and there would still be the usual suspects whining – I thought naahhh – boy was I wrong !

  • 28 Ian Toon // Mar 23, 2016 at 9:49 AM

    For an amateur squash player who would have thunked it! Ashley needs to acknowledged that politicians and regulators have the power to investigate any company whether public or private; though there’s less interest if shares aren’t traded on the LSE.

    It’s always a good policy to recognise an error of judgment particularly when it’s damaging your share price.The public own shares in order to have a say in how a company is run. Ashley’s sensibilities may well have been endangered but he needs to go on a charm offensive- even if necessary with the loathsome rancid Beast of Bolsover. Just don’t shake his hand.

    Blaming Miliband for a share price fall is plain daft. Given the view of Miliband at large, on the economy/ finance etc there aren’t too many folk listening. Failed politicians trying to regain populist support- only the usual suspects, who are not renowned for judging on merit.

    For a man of few words I can’t help thinking Ashley scored an own goal by saying too much on both SD and NUFC fronts. As a further fall in SD share price yesterday suggests.

  • 29 Derek // Mar 23, 2016 at 9:53 AM

    Goldmbemba,

    I was more referring to Ashley selling at the end of the season rather than immediately. I think if fans start making anti-SD waves over the coming months it will influence Ashley decision at the end of the season, regardless of which league we are playing in

  • 30 Rotonda heights // Mar 23, 2016 at 9:57 AM

    It’s rather worrying that Ash seems to totally absolve himself of any blame and says he is in no way involved in the day to day running. Why the hell isn’t he involved. If he was he may see how shabby and shoddy his empire is managed for him.

    I’m not sure Ash would hang around if we went down. He’s basically admitted he’s failed so why keep perpetuating the misery for all, himself included.

  • 31 Average_Contents // Mar 23, 2016 at 9:57 AM

    Banjax

    He’s put millions into the club to buy players?

    Wasn’t it the clubs money?

    After all, we’ve had to wipe our own nose for awhile now so can you explain?

  • 32 Rotonda heights // Mar 23, 2016 at 10:00 AM

    banjax

    not so much a damascus moment, I don’t think Ash does epiphanies, but rather ” oh s–t, I’m going to lose all that money” moment.

  • 33 Average_Contents // Mar 23, 2016 at 10:04 AM

    Shteve McClaren does not equal world class manager and spending heavily over two transfer windows was pointless with the not so world class head coach in charge. As the evidence points to.

    Rafa came after the fact out of pure desperation you simpleton.

    Fcuk off with your bullshit rhetoric.

  • 34 Derek // Mar 23, 2016 at 10:06 AM

    May 24, 2015:

    Q (to Mike Ashley): “Who is responsible? The manager, the fans, players or does it stop at your door?”

    Mike Ashley: “My door.”

    March 22, 2016:

    Mike Ashley: “I have virtually nil affect on Newcastle United, in reality, because I only pick the Board.”

  • 35 Rotonda heights // Mar 23, 2016 at 10:15 AM

    Derek

    Very good. Maybe a reason Ash got on with AP. I doubt either could lie straight in bed,

  • 36 Jib // Mar 23, 2016 at 10:17 AM

    Derek
    Your first quote was before the West Ham game when Ashley pledged change – your second quote confirms that the promised change was made.

  • 37 The overrated Frenchman // Mar 23, 2016 at 10:21 AM

    Jib, don’t you think it’s fair enough to have a bit of a whinge, as we stare down the barrel of relegation, yet again? Is this really what you want from the team you support? Should we be feeling good, come what may, in the cradle of the benevolent regime of our dear leader? Man, I just don’t get you, I seriously don’t.

  • 38 cyprus // Mar 23, 2016 at 10:21 AM

    We’re playing this game again?!

    Derek,
    those two statements are both ok, they ain’t the same.

    Yes, the ‘buck stops’ with the top brass. That doesn’t negate or oppose the second statement, at all.

  • 39 lesh // Mar 23, 2016 at 10:24 AM

    Ian Toon

    Someone blamed Ed Miliband for stirring things up to destabilise the Club and for clarification, it was his brother, David, who had connections with Sunderland.

  • 40 Laurent Robert 32 // Mar 23, 2016 at 10:26 AM

    Team bonding and table tennis IN

    U21s and 18s OUT

  • 41 cyprus // Mar 23, 2016 at 10:26 AM

    Anyway, what really counts is what goes on on the field. If Rafa can get us playing like I know we can (e.g. first half City, West Ham, Stoke), then we can pull it off. If he gets us playing like the Sunderland first half, then we’ll be finished long before the last day.

    TBH, I fear we’ll finish in the low 30s. Will that be enough? Will Palace or Norwich do us the favour? You never know.

  • 42 Blackley and Brownlie // Mar 23, 2016 at 10:27 AM

    Tsunki
    I’m definitely not thinking of Ashley and NUFC as one and the same. Let’s keep it simple. Let’s say NUFC’s assets (land, players etc…) amount to £200m and it owes Ashley £100m. It’s net value is £100m. If Ashley secures his loan on the club’s assets, as you suggest, what has he achieved?

  • 43 Jib // Mar 23, 2016 at 10:29 AM

    Frenchman

    Whinging is good
    Without whinging the British armed forces probably couldn’t function 😀

    However on here there are those that tie themselves in knots trying to put a negative spin on everything connected with NUFC , you have to wonder at their motivation.

  • 44 The overrated Frenchman // Mar 23, 2016 at 10:32 AM

    Cyprus@38 – of course it does. Ashley can’t abrogate his responsibility by saying, in essence, it’s not my fault, it’s the board. Yes, Mike, the board you appointed. If he accepts the blame stops at his door, there can’t be ifs or buts – end of story.

  • 45 sickandtired // Mar 23, 2016 at 10:32 AM

    Some of the pro Ashley comments here really make zero sense.

    On one hand they praise ‘his’ willingness to spend and bring in Rafa – and the next they absolve him of any blame for all the failings because it was the ‘Boards fault’.

    If he has NO input as he claims – then the good decisions (count on one hand) aren’t his are they! Ashley has been firmly on and driving the ‘Board’ ever since he arrived – it consisted only of him and Charnley at one point. It always consisted of him, the MD and FD until he tried to avoid the blame last season by ‘changing’ things.

  • 46 The overrated Frenchman // Mar 23, 2016 at 10:35 AM

    Jib, the only motivation “we” need is a glance at the table…this season, last season…I wish we were all as easily pleased as you, life must be jolly.

  • 47 cyprus // Mar 23, 2016 at 10:38 AM

    Frenchman,
    not at all. Real leaders, and I ain’t saying he is, accept responsibility for their employees actions even if they have nothing to do with those actions. They appointed them after all. But that doesn’t mean that they have anything directly to do with those actions.

    Trust me, those two statements are not mutually exclusive. Look up that sort of thing up in any basic leadership manual – which that guy probably read.

  • 48 Rotonda heights // Mar 23, 2016 at 10:39 AM

    ditto over rated at 45

  • 49 Tsunki // Mar 23, 2016 at 10:44 AM

    Jeff – first off we already have an Ashley appreciation society, and you are more than qualified as the chief BS. So no, thanks.

    Blackley. I don’t know what you’re trying to achieve. I am saying that the loan is nothing more than a mitigation of losses due to interest, as a private individual he can loan money to the club reasonably without risk by securing as a charge against part or even all it’s assets if that’s what it would take to get his money back in case of default. That’s all. It means there’s no correlation between him loaning the club money and the generous gift of free worldwide match day advertising to SD.

    It simply means he as a private individual can mitigate his own losses rather than pay loan interest to a financial institution who will have first crack at the clubs asserts at any time it wants to foreclose. Given the financial climate of recent years that could be any time for any reason.

  • 50 Tsunki // Mar 23, 2016 at 10:46 AM

    Unless I’ve misunderstood you Blackley and you actually don’t think there is any connection between the free loan and the free advertising?

  • 51 Derek // Mar 23, 2016 at 10:47 AM

    If Ashley picks the board, he has an affect on Newcastle. However, he denies that by saying he has nil affect; despite saying less than a hear ago he is responsible.

    He is responsible for picking the board,
    he is responsible for sacking the board when they are obviously incompetent, he is responsible for how much money is (or isn’t) spend.

    Yet by his latest comments it suggest he is oblivious to said responsibilities

  • 52 banjax // Mar 23, 2016 at 10:47 AM

    Average Contents

    Isn’t it the club’s money …?
    Well as there are no shareholders ie Ashley owns the club outright – then no it isn’t the club’s money. Mike Ashley pays cash unlike other clubs so any money needed has to go through him. Hope that answers your question A C !

  • 53 Toon Tang // Mar 23, 2016 at 10:48 AM

    You can’t please all the people all the time. I found this out when I called my wife a cnut in front of her folks at B&Q

  • 54 cyprus // Mar 23, 2016 at 10:51 AM

    Taking off now.

    Derek,’affect’ and ‘responsibility’ aren’t the same mate. You can be responsible with affecting anything. And you can affect things without being responsible at all.

    Anyway, have a good one all.

  • 55 cyprus // Mar 23, 2016 at 10:52 AM

    without… anyway, bye

  • 56 The overrated Frenchman // Mar 23, 2016 at 10:56 AM

    Cyprus, I can’t agree with you, but what the hell – we are where we are, whoever is at fault, to whatever degree. I realise the blame game won’t change things, I guess this is just letting off steam and trying to rationalise it in some way.

  • 57 lesh // Mar 23, 2016 at 10:58 AM

    Blackley

    Keeping it simple, if Ashley secured his loan against the Club’s assets, then it means he gets precedence (below HMRC et al) over unsecured creditors.

  • 58 Blackley and Brownlie // Mar 23, 2016 at 11:00 AM

    Tsunki
    My point is he’s not going to get his money back in case of default by the club by securing his loan on club assets. Those club assets, what’s left of them, will be his on a winding up. His right hand will be tobbing his left hand. He is going to be in no more advantageous position.

    If the club needs working capital to prevent it becoming insolvent, Ashley will no doubt provide it. But if he doesn’t, the club will need to seek third party finance, probably from a bank. In which case, the bank is going to want a first charge and Ashley will have to play second fiddle.

    So I’m not sure what your point is?

  • 59 Ian Toon // Mar 23, 2016 at 11:08 AM

    Lesh- Ed is mp for Doncaster North. Ashley singled out the lesser Miliband (Ed) because ’twas he that said the SD Shirebrook complex was a “Victorian gulag” with employees having to work under “Dickensian” conditions.
    Though imprudent Ashley got it right by describing Ed Miliband as showboating.
    Talk of media intrusion doesn’t wash with a public company. Ashley does have form for flouting corporate governance rules.

  • 60 Derek // Mar 23, 2016 at 11:14 AM

    Ashley = Responsible for selecting board
    Board = affects NUFC

    Therefore, Ashley’s responsibility indirectly affects NUFC through the board he has selected and his decision to not replace board members.

    Ashley’s comment did not specifiy whether he directly or indirectly affects NUFC, so we are left with Ashley having an affect on NUFC which shows he is a lying piece of sh@#!

  • 61 The next Mike Williamson // Mar 23, 2016 at 11:15 AM

    He sounds unhappy with Charnley wasting all that money. he says the account is virtually empty, not empty. remember we bid 24m for berahino so we have at least that money. also I was under the impression the money gets topped up a further 50m at the end of the season.

    I think we could see Charnley and Carr sacked at end of season and rafa will be given about 50m if we stay up. We’d not have got him if the bank was empty.

  • 62 hibbitt // Mar 23, 2016 at 11:16 AM

    Derek
    ashleys comments are all part of the pr game he’s playing with the sd shareholders to give himself an advantage he wants it back as soon and as cheap as possible …he included nufc so the stock exchange can’t say he’s deliberately driving the price down on sd thats why he put it globally over all his companies we are just a casualty of this war

  • 63 Tsunki // Mar 23, 2016 at 11:21 AM

    Blackley, if he makes an unsecured loan to the club, other creditors with a charge on his assets will step forward, and he will go down the queue. If he left the bank loans in place the bank would be those guys. How is he robbing himself? He’s just ensuring that when he mitigates interest losses to the company (which meant decreasing profitability, and ergo any dividends he might want to extract) he can make sure that he gets his money back first. The clubs assets are no longer the target of a fight between creditors, as he would have, I assume (unless of course he’s a total idiot), debentured them.

    Am I right you think there’s some other reason he loaned the club money?

  • 64 Tsunki // Mar 23, 2016 at 11:24 AM

    I suppose it really all depends on what will be remaining if the clubs assets after poor player trading and loss of TV revenue added to the lack of ground ad revenue takes it’s toll. Unless you think nufc will still have enough money to easily pay back his personal loan in the event of winding up and paying off other creditors first?

  • 65 Ian Toon // Mar 23, 2016 at 11:30 AM

    Banjax- Well said. He talks about a range of topics he clearly knows nothing about. You will be asked next to explain self sufficiency in the context of Ashley’s ownership.
    I personally value responses from people who know more and understand better.

  • 66 Lindisfarne // Mar 23, 2016 at 11:38 AM

    Thanks for sharing Toon Tang.
    Have you tapped it since?!

  • 67 Average_Contents // Mar 23, 2016 at 11:39 AM

    Banjax

    You said he’d supplied HIS money to buy players.

    He said he wasn’t putting anything else in. 2008-9 I believe.

    Ever since that moment we’ve been self sustainable ie wiping our own nose. Hamstrung by the limits and lack of being allowed to grow our income but able to survive (that’s been discussed to death)

    He may own nufc but what money the club makes is actually in the clubs name.

    It’s not as if he’s took money out of his own pocket (bank) and gone “here’s £80m, go get some players” is it? Which is how you made it sound.

    We all know that every move is sanctioned by him but that’s not the same as supplying his own money.

  • 68 Blackley and Brownlie // Mar 23, 2016 at 11:40 AM

    Tsunki @ 64
    That’s my point. Ashley provides the working capital. Anyone dealing with NUFC on credit terms are going to want some gorm of security if they are concerned about the solvency of NUFC. They will want a first charge on the assets or a personal guarantee from the owner. But if Ashley is the only major creditor, which I undetstand he is, he can’t do anything by way of charge on club assets to protect his money.

  • 69 banjax // Mar 23, 2016 at 11:41 AM

    Ian Toon

    Thanks for the comment and I reciprocate.

  • 70 hibbitt // Mar 23, 2016 at 11:44 AM

    Tsunki

    who are these other creditors you talk about i was under the impression we paid cash in our transfers dealing and over the last 8 years all over costs had been trimmed to the bone the only one i can think of is HMCE we also will be due at least 60m prize money at the end of the season no matter were we finish

  • 71 banjax // Mar 23, 2016 at 11:52 AM

    Average Contents

    I’m sorry I can’t make it any clearer to you. Ashley buys the club with his personal stash and owns everything and is responsible for all debts as well as all profits.

  • 72 Ibizatoon // Mar 23, 2016 at 12:00 PM

    Banjax…He is responsible for all debts and profits of Newcastle United FC (a business). Those debts and profits are NUFCs, not Ashleys personally.

    Same end result, but legally, those funds are not his, unless he withdraws them from the club, which he is entitled to do as he owner.

    That’s my understanding anyway.

    Ashleys initial investment and subsequent “loans” in to Newcastle are what he has paid. Not the recent transfer kitty, which has come from NUFC made money.

    Clearly that’s the way he has it set up, otherwise we wouldn’t constantly hear about self sufficiency and wiping ones own nose.

    Are we to congratulate the guy for allowing profits to be invested? I would have thought that’s more or less expected, given he said he wants us to be self sufficient.




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