"Greed is good. Greed is right."Dear reader, my estteemed colleague Hugh has already touched on this story earlier today and presented his own viewpoint on the matter. However, I am so incensed that I also feel compelled to register my extreme displeasure at the latest utterings of our unesteemed Managing Director, Derek Llambias.
In case you are still wondering what I’m gannin’ on about, in the responses to Chronicle readers questions on Mike Ashley’s intentions for the club, Derek Llambias responded to “Is Mike Ashley considering putting the club up for sale?” with the quote below amongst other things. At the end of the answer, he wrote:
“I’d like to make a further point here. This club can’t support itself without the financial backing of Mike Ashley; we still rely heavily on the owner. To date Mike has invested over £280m into the club, including £140m in interest-free loans. For him to continue to support the club, he has to be interested and enthused to do so. He deserves credit for his financial support but a section of supporters don’t make him feel welcome at St James’ Park, or when he attends away games. Criticism is part and parcel of the job, abuse is not. This makes life uncomfortable and certainly doesn’t make Mike feel more inclined to put his hand once again in his pocket. That’s not stubbornness, it’s human nature. I think most of us would feel exactly the same.”
Does the sheer gall of this little cipher and his fat controller know no bounds?(more…)
Ashley: May be fat, but not a “Cockney”Has Mike Ashley reduced Newcastle United’s debt?
Hmmm.
Well, it has been several months since Newcastle United published their last set of audited accounts at Companies House (March 2011), and that was for 2009/10. However, at that time it did appear as if the debt had actually risen significantly, though it is hard to deny that the the club are in a somewhat less perilous position finacially since Mike Ashley took over the club from the gruesome twosome, Freddy Shepherd and Douglas Hall.
In June 2007 when Ashley finally gained full control of the club, it looked as if the club was £71 million in debt, however, after Ashley’s takeover, it became apparent that the mortgage on the ground had to be paid off, and the level of debt was actually £124 million. More details are available from the site NUFC Finances site.
In the last published set of accounts, published in March 2011 (for 2009/10), they revealed that the club’s net debt at that time stood at around £150 million, most of this figure being owed to a certain Mr.MJW.Ashley of Totteridge, Hertfordshire. It also revealed that despite a slightly misleading statement by Newcastle United in May 2010 which read: (more…)
Passion, pride, loyalty - NUFCI’ve spent much of the morning nursing a hangover after yesterday’s debacle, and trying to organise my thoughts and come to some decision on what on Earth happened in the past few months.
Like all of you, I’m racked with disappointment, anger, frustration but most of all betrayal. We pay our hard earned cash for the privilege of watching those 11 lads play in the black and white stripes, to sing our heart out and ultimately to support the club we have stood by for so many years. There was one time when hell or high water wouldn’t keep me away from the Cathedral on the Hill that so dominates our skyline and now I’m finding it a struggle to check the news of a morning to find out how the board of Newcastle United are going to insult the loyal Geordie nation.
My daily routine is fairly basic. I wake up late morning, make a cup of tea, come back to my computer and check the usual blogs, News Now and then start checking my emails. Depending on the events, I’ll plan out an article for publication around evening time. During the transfer window, my phone becomes my greatest friend and I often don’t even wait to get on the computer to see what’s happening at this wonderful club. (more…)
Are they saving the club?A look at Newcastle United’s financial situation to see what Mike Ashley really has done for the club.
One of the things we often hear is that, even if he has no other redeeming features, at least Mike Ashley is sorting out the finances at Newcastle United.
It has become something of a mantra for the pro-Ashley fans but let’s have a look at the figures and see if that mantra is justified.
Before I do that though, I need to disclaim a few things. I’m not a financial expert. I do know a bit about running the books for Limited Companies but obviously nothing the size and scale of Newcastle United.
Additionally, the figures I’m quoting below are from financial reports filed at Companies House which I paid to access via a popular online supplier, so I’m merely trusting that they’re correct.
A First Look At The Books
The following table of figures is taken from the last five years of reports filed by Newcastle United Ltd, which are currently complete up to the 09/10 financial year (Newcastle run July – June for their financial years):
...and this is the clubs justification.Today we have a rather startling and a little bit of a confusing decision made by the club. In order to go to away games, you must be a club member or a season ticket holder.
The justification for all of this is the events that took place at the Darlington friendly which we can all agree made a mockery of our club and it’s fans. It was quite simply disgraceful to see the events unfold and even worse to see fans saying “they hope it happens again” – if that’s what you go to a football game for, do something else with your time instead of ruining it for the rest of us.
That, of course, is exactly what has happened today. The minority has ruined it for the majority and if you want to go to an away game, you had better fork out £20-£25 a year for membership or upwards of £300 for a season ticket.
A club statement today had this to say:
In order to combat any possible trouble at future away fixtures, a new policy will be implemented by the club which will see ticket sales restricted to Season Ticket Holders and Members only. (more…)
