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One Of Newcastle’s Hierarchy Could Be Leaving The Club


The Chronicle is reporting that  Justin Barnes has been announced as a board member for the Iconix Brand Group, which is located in New York City – here’s their website.

Sports Direct invested in the company and acquired a stake in it, and as a result, the company were given two seats on the board, and one is to be taken by Mr. Barnes.

The Group is the world’s leading brand management company that licenses brands to retailers and manufacturers primarily in the apparel, footwear, and apparel accessory industries.

But when you join a Board, there’s not too much heavy work to do – turn up to the meetings they have each year.

Barnes is an independent consultant who does work for Mike Ashley (he once worked at Sports Direct), and some of that work is at Newcastle United.

Justin Barnes

While Barnes’ role has never officially been announced he is seen as Mike Ashley’s “fixer.”

He seems to be the finance guy who decides for Ashley how much can be spent at the club – including transfers – and was presumably brought in to put the financial books in order – so the club could be sold.

And his personality is said to be abrupt and abrasive.

Rafa has rightly become anxious that Ashley is unwilling to invest in the club and Sky Sports produced figures today that say since Rafa joined the club in March 2016 until now – we have made a net profit of £40M in the five transfer windows.

We don’t really think the new position for Barnes will stop him from continuing his work at Newcastle.

We just hope it does.

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Comments welcome.


46 comments so far

  • Jib

    Aug 16, 2018 at 12:44 PM

    Comment #1
  • Munster Mag

    Aug 16, 2018 at 12:48 PM

    Comment #2

    Rob, tks for that. You are suggesting some as I thought (ie dividend etc) but to say he is shovelling money out of the toon into other businesses doesn’t stack, as I suggested. Maybe it’s all turning into wallpaper.

    0
  • Jib

    Aug 16, 2018 at 12:48 PM

    Comment #3

    I’d laugh me cock off if Ashley moved to the
    US and bought the Dodgers – Chico would
    likely blow a gasket !

    Ha ha ha

    2
  • Munster Mag

    Aug 16, 2018 at 12:52 PM

    Comment #4

    But the question remains, how can we be optimistic a la jib of a sale, if he isn’t trying to make the accounts more attractive by decreasing the debt. I can’t decide whether he wants to sell or not. Probably not. 🙁

    0
  • posada

    Aug 16, 2018 at 12:59 PM

    Comment #5

    I regard MAs loan as notional.
    He owns the club 100% so the loan is too himself.
    If he takes it out fine, at some stage he might have to put it back in again.
    Like one of those off set accounts.

    3
  • posada

    Aug 16, 2018 at 1:00 PM

    Comment #6

    As Rob said there would be tax implications and not as simple as that.
    I’ll take his word on that as I don’t know.

    0
  • posada

    Aug 16, 2018 at 1:01 PM

    Comment #7

    That Barnes.
    Is Christopher Biggins his Daddy.

    8
  • Jail for Ashley

    Aug 16, 2018 at 1:02 PM

    Comment #8

    The one on your head Jiblets?

    2
  • G

    Aug 16, 2018 at 1:02 PM

    Comment #9

    ‘Lukewarm’ Barnes? Interesting theory posada.

    0
  • 9

    Aug 16, 2018 at 1:04 PM

    Comment #10

    Bit of a (grossly) misleading headline, Ed, as even your own article shows. Naughty!

    1
  • Jib

    Aug 16, 2018 at 1:12 PM

    Comment #11

    Munster the way he’s isolated his loan into St James Holding
    capital makes me think he’s going to at some time in the future
    either
    a. Sell a majority of NUFC to a wealthy buyer while retaining
    his loan monies as a minority shareholding

    b. Float NUFC and turn it back into a public company as it was
    under Hall and Shepherd while retaining his loan monies as a
    majority shareholding.

    1
  • hibbit

    Aug 16, 2018 at 1:13 PM

    Comment #12

    the clubs already under a tax/vat investigation at the moment

    i don’t think they will be doing anything stupid with the accounts when there already under the microscope

    1
  • RobLeenio

    Aug 16, 2018 at 1:14 PM

    Comment #13

    Munster, yeah those that suggested he’s removed £90M from NUFC in order to buy House of Fraser are well wide of the mark, in my opinion. I just don’t see how it’s actually possible and, if he did, the FA and Premier League would have something to say I’m sure. After all, the Premier League is working hard to get the best TV deals to promote the division globally and get even better TV deals. The FA allows this to happen in the knowledge that some of the money trickles down to the other leagues. If owners started taking out tens of millions for their own purposes so flagrantly, both of those goals would be under threat.

    0
  • The next Mike Williamson

    Aug 16, 2018 at 1:16 PM

    Comment #14

    Joselu is on 50,000 a week??? ‘ His agent is a genius! Manquillo has done well too. They’d both be lucky to get 20k

    0
  • The next Mike Williamson

    Aug 16, 2018 at 1:18 PM

    Comment #15

    The House of Fraser rumour was up there with our best daft conspiracies. Pardew and the gambling debts is still the stupidest though imo. We’ve come up with a few. Quite embarrassing.

    5
  • Pottsclock

    Aug 16, 2018 at 1:21 PM

    Comment #16

    Taking money in a dodgy way out of a public limited company that has to have it’s accounts audited by a qualified auditor is next to impossible unless you want to pay lots on tax. Owners of PLCs get there money from one main place – share value. Ashley’s objective is to improve share value of nufc by minimising overheads and keeping revenue positive whilst continuing with his SD advertising. That’s why I say he’s trying to sell. Whether he will actually find a buyer is the real question.

    2
  • The next Mike Williamson

    Aug 16, 2018 at 1:21 PM

    Comment #17

    If Ashley does things to spite us, such as buying HoF after deadline day, then surely he will raise the season ticket prices massively. That is the way to do it. I wouldn’t be surprised if he does next season.

    0
  • c-dog

    Aug 16, 2018 at 1:30 PM

    Comment #18

    Saivets agent should get a massive bonus off the player himself for securing a 5.5 year contract at Newcastle.

    1
  • toon22

    Aug 16, 2018 at 1:33 PM

    Comment #19

    Were all accountants now lol
    Fact is money went in and seems to have vanished
    I suppose were not sypposed to notice lol

    we can look forward to this for a long time why sell a profitable advert ?
    Its a lie to cover his greed

    1
  • toon22

    Aug 16, 2018 at 1:35 PM

    Comment #20

    Im supprised some of our players arnt on zero hour contracts but theres plenty of time for him to squeeze that out of them

    3
  • Munster Mag

    Aug 16, 2018 at 1:36 PM

    Comment #21

    Mike, why did pardew get a seven year contract. The severe cell for being sacked always made sense to us conspiracy theorists. In the same way that pardew got the role uncontested

    0
  • Munster Mag

    Aug 16, 2018 at 1:37 PM

    Comment #22

    Severence not severe cell!

    0
  • toon22

    Aug 16, 2018 at 1:38 PM

    Comment #23

    The excuse its gone to paying our debt to him is wishfull thinking
    We simply dont know
    We do know its gone though ad rafa hasnt been given a bean by him

    The rest is there to cover his explotation of our club

    1
  • RobLeenio

    Aug 16, 2018 at 1:38 PM

    Comment #24

    I imagine Ashley has seen the way the TV money negotiations have gone – slightly less for the recent deal than for the preceding one. The market has peaked, therefore the value of the club in terms of TV revenue income has also peaked.

    If he wants to increase the value of the club furtherr, he will have to so one or more of a number of things:
    – improve the commercial revenues (give up on some of his own income streams)
    – make the club more competitive on the field (win a cup)
    – materially improve the infrastructure of the club (training facilities or stadium)

    All of the above will require investment which Ashley is not prepared to give or for him to relinquish control of some cash, effectively the same thing.

    If the club will not increase in value without significant investment, the only thing left of value to Ashley is the advertising for Sports Direct.

    He may well (should be) thinking that now is the time to sell at the top of the market before he has to put money into the project, to a buyer who may well give him a favourable deal on stadium advertising. If nothing else, it makes good business sense.

    1
  • c-dog

    Aug 16, 2018 at 1:40 PM

    Comment #25

    There are no seroius bidders out there for the club it seems.

    0
  • hibbit

    Aug 16, 2018 at 1:47 PM

    Comment #26

    toon22
    “Fact is money went in and seems to have vanished”

    the fact is we dont know whats happen to the money it could just as easy be sitting in a club account
    we wont know whats happened to the money till the next set accounts are published. till then it’s all just speculation

    5
  • The next Mike Williamson

    Aug 16, 2018 at 1:48 PM

    Comment #27

    Pardew got the job because Ashley didn’t have much knowledge of managers except those who had been in the premier league. He also valued premier league experience and being british. Pardew did ok at West Ham for a while getting them to a cup final and coming 7th I think. He was also out of work and to someone like Ashley who doesnt know too much about football had a decent record at Southampton and Reading. I bet he is also very very good at blowing his own trumpet in interviews.

    He got the 7 year deal after coming 5th simply because he finished 5th. Ashley probably thought he could do it again. Who’d have guessed he’d have moved Cisse on to the wing and drop Ben Arfa.

    3
  • Canuck Mag

    Aug 16, 2018 at 1:48 PM

    Comment #28

    You’d think with the money Barnes is on he would be able to afford a decent haircut. That said you would also think MA would be able to afford a personal trainer

    4
  • G

    Aug 16, 2018 at 1:50 PM

    Comment #29

    Is NUFC still owned by MASH Holdings? If so, are MASH Holdings the owners of HOF now too? As well as owners of 30 odd other companies where MA is the majority shareholder.

    2
  • beermonkey

    Aug 16, 2018 at 1:50 PM

    Comment #30

    c dog

    we need a serious seller first

    not sure if it has been mentioned but la liga have signed a 15 year deal to play matches in the us and canada
    how long before the prem follows suit and we start playing a match over there

    1
  • The next Mike Williamson

    Aug 16, 2018 at 1:52 PM

    Comment #31

    not many of us complained when Pardew got the 7 year deal. We’d been through dozens of managers and it seemed stability would save us. Also we were playing brilliant football especially Ben Arfa, Cisse and Cabaye and had great defensive players like Tiote and Coloccini.

    Imagine we gave Rafa the eqivalent (in today’s money) of what McClaren got (maybe 150m) and gave him Pardew’s 7 year deal. Then we’d be looking to break into the top 6.

    6
  • hibbit

    Aug 16, 2018 at 1:55 PM

    Comment #32

    G
    SD are the new owners HoF
    Ashley owns 61% of SD through Mash Holding

    1
  • Ron Knee

    Aug 16, 2018 at 1:55 PM

    Comment #33

    Mike

    Weren’t we already going off the boil when P45 got the contract?

    0
  • G

    Aug 16, 2018 at 1:56 PM

    Comment #34

    Cheers hibbit

    0
  • SredniVashtar

    Aug 16, 2018 at 1:57 PM

    Comment #35

    Regarding which of our signings will become starters –

    Rondon will obviously become our main striker this season, once Joselu gets back into his usual form. (Will Rafa drop Joselu for Rondon on Saturday? Or will he give him a chance to prove himself after his goal against spurs?)

    Muto should displace Perez after his dreadful game v spurs ; while Rafa seems to have a sense of loyalty to Perez I think Muto as our most expensive signing will replace him (although Murphy didn’t break into the team last year despite being our most expensive signing).

    Ki will get a run of games at some point, if/when Shelvey gets suspended or injured, or if diame’s form tails off. I can’t see him starting against Cardiff – he will have to have a few good substitute appearances and work his socks off in training to break the MoJo.

    Of Schär and Fernandez, I can see Fernandez being the favoured of the two – he is on higher wages according to Jib’s list, cost 6m so clearly Rafa rates him and has premier league experience with Swansea. However will he have gelled enough in training to start at the weekend? I don’t think Clark will keep his spot, and Fernandez will start if he is ready; if not then Schär will play.

    0
  • hibbit

    Aug 16, 2018 at 1:58 PM

    Comment #36

    Mike
    i don’t know you were when Pardue got that 7 year deal but there was hell on here

    2
  • SredniVashtar

    Aug 16, 2018 at 2:01 PM

    Comment #37

    I really really really hope Sterry plays right back on Saturday. He’s 22 and if he’s going to break into the team, he has to do it this year. People say he has always had the skill but wasn’t physical enough in the past; he has bulked up this year so hopefully he’ll be good.
    Do those who have seen him think he will be good enough? Is he better than Yedlin?
    Come on Rafa please give him a go.
    I noticed he’s been given the number 25 shirt – maybe that indicates he will be in and around the first team squad, potentially starting against Cardiff.
    I’m just desperate to see a Geordie lad playing in the stripes.

    2
  • Jib

    Aug 16, 2018 at 2:04 PM

    Comment #38

    beermonkey
    Demographically the vast majority of
    MLS crowds are of Hispanic origin
    They will all have a favourite team in
    the mother country so La Liga playing
    in the US will always get big crowds

    1
  • Jib

    Aug 16, 2018 at 2:09 PM

    Comment #39

    Pardew actually got an 8 year contract
    It was a reward from Ashley for getting
    5th place – which kind of shoots down
    Jail’s crackpot theory that Ashley always
    aimed for a low league position.

    https://www.bbc.co.uk/sport/football/19747531

    2
  • griff

    Aug 16, 2018 at 2:09 PM

    Comment #40

    No knowledge or experience here, but I am with you SredniVashtar. I am hopeful for a Sterry start.

    1

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