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Ashley reveals Newcastle had £100m debt


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Ashley reveals Newcastle had £100m debt

By Michael Walker

Published: 22 October 2007

 

Mike Ashley, the new owner of Newcastle United, has spoken publicly for the first time. Often portrayed as a recluse, Ashley took the opportunity to quash the recurring stories that Newcastle are for sale.

 

"I didn't buy Newcastle United to sell it," he said yesterday. "The club is not for sale, selling is just not on the agenda. Yes, there have been plenty of people suggesting they want to buy the club off me already and the answer is always the same: 'No'.

 

"I bought this club to become part of its passion and it has worked. I feel at home here already. I love the place, the club and especially the fans, who wouldn't?"

 

Ashley revealed that the debt he inherited at Newcastle was £100m but said that the speed of the purchase meant: "There was no time to do the usual due diligence on the deal because I had to move so quickly.

 

"So I paid £140m for the club with the expectation that there was a debt of £70m. Actually it was around £100m so there was suddenly an extra £30m to find. But I just thought: 'Shut up about it'. I'm a big boy and I didn't cry.

 

"To me the real issue was this: Was the debt bigger than I thought? Yes. Would I have changed my mind if I'd known the full extent of the debt? Not one iota.

 

"It might have been a different story if I had needed to go to the bank to borrow the money but I didn't. I have my own money and anyway, I tend to live by the saying you can't take it with you."

 

Newcastle host Tottenham Hotspur at home tonight and manager Sam Allardyce has also received some good news from Michael Owen, who yesterday played down talk of a rift between himself and Allardyce.

 

Allardyce thinks Tottenham have bottomed out after draws with Aston Villa and Liverpool and showed sympathy towards Martin Jol. "He was in a black hole but there is light at the end of the tunnel now."

 

Spurs will be without Paul Robinson in goal, Newcastle are awaiting news on Mark Viduka's fitness.

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Good noises from the big fella....

 

Considering the pro-Shepherd corner used to hark on about his one quality being that he kept the club financially sound, there's a lot of disturbing stuff coming out of the woodwork.

 

We were heading towards a similar mess that we were in before Sir John Hall took over, lord only knows what would have happened had we been relegated during Shepherd's tenure.

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

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Good noises from the big fella....

 

Considering the pro-Shepherd corner used to hark on about his one quality being that he kept the club financially sound, there's a lot of disturbing stuff coming out of the woodwork.

 

We were heading towards a similar mess that we were in before Sir John Hall took over, lord only knows what would have happened had we been relegated during Shepherd's tenure.

 

Leeds United.

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Good noises from the big fella....

 

Considering the pro-Shepherd corner used to hark on about his one quality being that he kept the club financially sound, there's a lot of disturbing stuff coming out of the woodwork.

 

We were heading towards a similar mess that we were in before Sir John Hall took over, lord only knows what would have happened had we been relegated during Shepherd's tenure.

 

Leeds United.

 

Frankly I reckon we were heading for that anyway, we didn't need relegation for it to happen, just a few more years.

 

I think only our significant financial muscle (compared to Leeds) probably saved us from going that way in the last few years.

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Good noises from the big fella....

 

Considering the pro-Shepherd corner used to hark on about his one quality being that he kept the club financially sound, there's a lot of disturbing stuff coming out of the woodwork.

 

We were heading towards a similar mess that we were in before Sir John Hall took over, lord only knows what would have happened had we been relegated during Shepherd's tenure.

 

Leeds United.

 

 

I think only our significant financial muscle (compared to Leeds) probably saved us from going that way in the last few years.

 

So in other words what youre saying is the only thing that saved us from financial ruin was our financial strength. Hold the front page tbh. :razz:

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

That's actually what I heard about the auditing in recent years. Balance sheets out of the Alastair Campbell school of sexing things up.

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

:razz: Nice attempt at being clever there.

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

 

 

 

Welcome back again Leazes.

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

 

 

 

Welcome back again Leazes.

 

do you mean me you stupid cunt

 

I am not "Leazes". I see you have edited an avatar despite claiming not to edit things and also claiming that I am "leazes" also shows you can't keep what you think is personal information.

 

What a fucking wanker.

 

You'll always be Newcastle onlines little brother, run by immature tosspots

 

:D

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

 

 

 

Welcome back again Leazes.

 

do you mean me you stupid cunt

 

I am not "Leazes". I see you have edited an avatar despite claiming not to edit things and also claiming that I am "leazes" also shows you can't keep what you think is personal information.

 

What a fucking wanker.

 

You'll always be Newcastle onlines little brother, run by immature tosspots

 

:razz:

You might as well have written: "Yep, it's me. It's a fair cop."

Nice to have you back though :D

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

 

 

 

Welcome back again Leazes.

 

do you mean me you stupid cunt

 

I am not "Leazes". I see you have edited an avatar despite claiming not to edit things and also claiming that I am "leazes" also shows you can't keep what you think is personal information.

 

What a fucking wanker.

 

You'll always be Newcastle onlines little brother, run by immature tosspots

 

:razz:

 

welcome back leazes. we've missed you :D

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Hmmmm - I guess he's not suggesting the accounatnts got it wrong and that the old Board did something odd I hope

 

the writs will start flying if he does................

 

presumably what he means is that it suits him to talk up the problem so he can fix it (or have an excuse for not putting in as much money as we'd hoped)

 

where EXACTLY was all this "unknown" debt??

 

quoted for truth. The level of intelligence on here must mean that most people can see it

 

 

 

Welcome back again Leazes.

 

do you mean me you stupid cunt

 

I am not "Leazes". I see you have edited an avatar despite claiming not to edit things and also claiming that I am "leazes" also shows you can't keep what you think is personal information.

 

What a fucking wanker.

 

You'll always be Newcastle onlines little brother, run by immature tosspots

 

:razz:

 

Gerld, shirley :D

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