Basically, it is my thoughts on the following exchange between two Newcastle United fans’ representatives (Phil Patterson and Chris Forster) with unnamed representatives of the club at the recent ‘Fans’ Forum’ meeting at St James’ Park.
Mike Ashley: Laughing all the way to the bank again.With the news that Mike Ashley’s downmarket sports chain, Sports Direct, is about to be included in the reshuffled FTSE 100 Index of the top 100 UK companies, I took a peek at their latest figures, as I do from time to time.
As has been the norm with Sports Direct for quite some time now, the figures were obscene, with profits rising a whopping 23.2% to £260.1 million.
What caught my eye however was the current Sports Direct share price standing at well over £7 and rising three or four times just as I was reading it over the share ticker. This means that Ashley’s current 64% holding in Sports Direct International is now worth over £2.75 billion, and this is after Ashley cashed in some 4% of his shares for over £100 million back in February.
To put this in perspective in terms of Newcastle United and it’s importance in the scheme of things to Ashley, that is well over 10 times the value of what Ashley has invested in the club, around £262 million. This includes a debt of around £129 million to Ashley, most of which is repayable on demand with the rest secured on future broadcasting revenue. (more…)
The fans are revolting, but Will they be effective this time?Newcastle United fans are revolting!
However, writing as someone who used to be an protester and fundraiser myself in the past, not over Newcastle United but over causes such as civil liberties, racism and the like, from what I have read and seen of Newcastle United fans’ planned protests so far, the chances of success don’t seem to be that great at all. This isn’t because the protestors don’t have a case, more that the protagonists don’t seem to be protesters, quite simply, they don’t know how to do it properly. They’re more like brickies and plumbers who are blundering around in a field they don’t understand, a bit like Mike Ashley trying to run a large Premier League football club really!
Please don’t misunderstand, this is not to be unecessarily disparaging at all, it’s just an appeal to realism, a plea for the protestors to consult with people who know what they are doing this time before they go blundering in once again with their size 10s and misspelled bedsheets. In a David and Goliath struggle, you don’t just need all the help you can get, you need the right help to avoid falling at the first few hurdles. (more…)
“From a commercial impact, Wonga have had the money on the table and have been a lot more aggressive.
“It’s massively important to have people on board that want to get involved with us in terms of what we do with the fans and the foundation and what we do with the younger players.
“Wonga have only really been here five weeks and they have actually done considerably more than anyone ever has done in terms of investment and support.
“The gates have been unveiled… they renamed the stadium back to St James’ Park. Wonga tick the boxes.(more…)
Wonga: Sinking their teeth into the North East. A radio programme which is well worth listening to if you’re a Newcastle United fan is BBC Radio Four’s “the Lending Game,” a 40 minute look at Wonga’s controversial sponsorship of Newcastle United.
This is what the online blurb for the programme says:
“As Wonga moves into the mainstream with its sponsorship of Newcastle United, is the so-called payday lender responding to, or shaping, changing attitudes on money and morality? Chris Bowlby goes back to his teenage home on the Tyne to look at the rise of Wonga through the lives of the Toon Army.”
Amongst other things, it contains a fairly revealing interview with Newcastle United financial director, John Irving, who told Chris Bowlby that the clinching factor for working with Wonga was the company’s desire to “work with us on fans, the Academy and the Newcastle United Foundation,” who work with the Wonga customers of the future, youngsters from underprivileged families in the North East. However, the interview with Irving is abruptly halted later in the show by a female press officer (possibly Wendy Taylor) when the interviewer brings up controversial subject of former refusenik, Papiss Cisse, who was still in discussions with the club over wearing the shirt when the programme was being made. (more…)
