Jimbo 133 Posted July 24, 2009 Share Posted July 24, 2009 Newcastle United is not worth a penny - never mind £100m. That's the view of sources close to the negotiations as Mike Ashley tries to sell the struggling football club. Several consortiums are interested in buying Newcastle. They have been carrying out due diligence and delving into the background of the club's financial liabilities. However, the two main players are a Malaysian group and a team of Irish investors. They have been given a tour of St James Park and the clubs training headquarters. But there is a big stumbling block with the price Ashley wants. Someone close to the negotiations told me: "There is no way Ashley will get £100m. It's not worth a penny. He'll end up having to give it away." Why? Newcastle United is debt free. I'm told Ashley's foray into football has cost him £150m. But my source reckons the club is on track to lose £57m this year. "The Malaysians are still the front runners. But why would anyone want to pay money for a club which is projected to lose more than £50m in its first year of trading?" added the source. He said he couldn't see any deal being done before the new football season started. Ashley has been trying to sell Newcastle United since June. The Sports Direct founder is using Keith Harris, chairman of London-based investment bankers Seymour Pierce, for the sale. He wants £100m for a football club steeped in history and with passionate fans. But this is a club in decline with a huge wage bill and a make-shift manager. Link to comment Share on other sites More sharing options...
Gemmill 34326 Posted July 24, 2009 Share Posted July 24, 2009 Quality headline. Link to comment Share on other sites More sharing options...
trophyshy 6432 Posted July 24, 2009 Share Posted July 24, 2009 fat cunt. Link to comment Share on other sites More sharing options...
Gemmill 34326 Posted July 24, 2009 Share Posted July 24, 2009 The "article" itself reads like some ideas that someone's scribbled down, with a view to actually turning it into an article at a later date btw. Link to comment Share on other sites More sharing options...
smoggeordie 0 Posted July 24, 2009 Share Posted July 24, 2009 Newcastle United is not worth a penny - never mind £100m. That's the view of sources close to the negotiations as Mike Ashley tries to sell the struggling football club. Several consortiums are interested in buying Newcastle. They have been carrying out due diligence and delving into the background of the club's financial liabilities. However, the two main players are a Malaysian group and a team of Irish investors. They have been given a tour of St James Park and the clubs training headquarters. But there is a big stumbling block with the price Ashley wants. Someone close to the negotiations told me: "There is no way Ashley will get £100m. It's not worth a penny. He'll end up having to give it away." Why? Newcastle United is debt free. I'm told Ashley's foray into football has cost him £150m. But my source reckons the club is on track to lose £57m this year. "The Malaysians are still the front runners. But why would anyone want to pay money for a club which is projected to lose more than £50m in its first year of trading?" added the source. He said he couldn't see any deal being done before the new football season started. Ashley has been trying to sell Newcastle United since June. The Sports Direct founder is using Keith Harris, chairman of London-based investment bankers Seymour Pierce, for the sale. He wants £100m for a football club steeped in history and with passionate fans. But this is a club in decline with a huge wage bill and a make-shift manager. ...the majority of which could be sorted in a few hours, if only he wasn't a totally inept fat cunt. Link to comment Share on other sites More sharing options...
TheMoog 0 Posted July 24, 2009 Share Posted July 24, 2009 I'm going to go cry... Link to comment Share on other sites More sharing options...
Gemmill 34326 Posted July 24, 2009 Share Posted July 24, 2009 Nobody likes a weeping penis. Link to comment Share on other sites More sharing options...
ChezGiven 0 Posted July 24, 2009 Share Posted July 24, 2009 Confirms Parky's fears. Link to comment Share on other sites More sharing options...
TheMoog 0 Posted July 24, 2009 Share Posted July 24, 2009 Nobody likes a weeping penis. Link to comment Share on other sites More sharing options...
Prince Albert 0 Posted July 24, 2009 Share Posted July 24, 2009 (edited) Be interested to see the calculations from the forecast £57M loss, e.g. assuming no transfers in or out from now on (not realistic I know) would give a wage bill of approx £60M and allowing £20M for other costs would give an approx cost base of £80M, so a loss of £57M would mean an income of only £23M in total wich is a tad unrealistic. Edited July 24, 2009 by Prince Albert Link to comment Share on other sites More sharing options...
accadacca 0 Posted July 24, 2009 Share Posted July 24, 2009 Be interested to see the calculations from the forecast £57M loss, e.g. assuming no transfers in or out from now on (not realistic I know) would give a wage bill of approx £60M and allowing £20M for other costs would give an approx cost base of £80M, so a loss of £57M would mean an income of only £23M in total wich is a tad unrealistic. got to agree with you again. Turnover will be at least £35m and this will increase when Shearer arrives as he will sell 10,000 s/t no problem. When he arrives other income will flow in via merchandising, box sales, footfall increase etc. £57m ? More media speculation. Everyone knows that the ''books'' will look bad and there are precious few real assets other than the players, but there is no chance he is going to let it go for £50m - no chance. Selling Beye, Martins and Bassong will bring in £16m alone. S. Taylor is worth another £6m, Colo £5m, Jonas £5m, Enrique £3m, Duff £3m, Nolan £3m, Barton £5m, Smith £4m, Guthrie £2m, R. Taylor £1m, Harper £2m, Carroll £1m, Ameobi £1m, Geremi nowt, Butt nowt, and Xisco £2m. Total worth of player assets = £58m. Training ground and land across from SJP = £10M ?? THERE'S NEARLY £70M FOR STARTERS. Link to comment Share on other sites More sharing options...
Prince Albert 0 Posted July 24, 2009 Share Posted July 24, 2009 Realistic valuation for the club is between £80M and £100M, about half what it was this time last year. The only problem is that every fucker will be trying to chip that price as low as they can get it which leaves us with the fat fool for at least another 5 months - nobody with any sense would buy until just before the January window opens Link to comment Share on other sites More sharing options...
trophyshy 6432 Posted July 24, 2009 Share Posted July 24, 2009 Are you comparing assets with trading loss/profit? Link to comment Share on other sites More sharing options...
spongebob toonpants 3594 Posted July 24, 2009 Share Posted July 24, 2009 *****uninformed speculation follows****** Are we actually reaching a point where Ashley would get more money by winding the club up and trying to get paid back some percentage of his "loans" to the club as a creditor? Link to comment Share on other sites More sharing options...
Prince Albert 0 Posted July 24, 2009 Share Posted July 24, 2009 Are you comparing assets with trading loss/profit? To be fair as we are no longer a PLC it's virtually impossible to get enough genuine information to make a robust estimate of current value, but if you take last set of figures available BA (Before Asley) and extrapolate them using the press speculation about various things you get back to a value of about £80-£100M, many ways to value a business but as in any market any business is "worth exactly what somebody is prepared to pay" Link to comment Share on other sites More sharing options...
Prince Albert 0 Posted July 24, 2009 Share Posted July 24, 2009 *****uninformed speculation follows****** Are we actually reaching a point where Ashley would get more money by winding the club up and trying to get paid back some percentage of his "loans" to the club as a creditor? Nah thats a way off yet, ask John the Brief (lawyer specilising in insolvency) he has posted plenty of stuff about this on other forums. Link to comment Share on other sites More sharing options...
Sima 0 Posted July 24, 2009 Share Posted July 24, 2009 Be interested to see the calculations from the forecast £57M loss, e.g. assuming no transfers in or out from now on (not realistic I know) would give a wage bill of approx £60M and allowing £20M for other costs would give an approx cost base of £80M, so a loss of £57M would mean an income of only £23M in total wich is a tad unrealistic. got to agree with you again. Turnover will be at least £35m and this will increase when Shearer arrives as he will sell 10,000 s/t no problem. When he arrives other income will flow in via merchandising, box sales, footfall increase etc. £57m ? More media speculation. Everyone knows that the ''books'' will look bad and there are precious few real assets other than the players, but there is no chance he is going to let it go for £50m - no chance. Selling Beye, Martins and Bassong will bring in £16m alone. S. Taylor is worth another £6m, Colo £5m, Jonas £5m, Enrique £3m, Duff £3m, Nolan £3m, Barton £5m, Smith £4m, Guthrie £2m, R. Taylor £1m, Harper £2m, Carroll £1m, Ameobi £1m, Geremi nowt, Butt nowt, and Xisco £2m. Total worth of player assets = £58m. Training ground and land across from SJP = £10M ?? THERE'S NEARLY £70M FOR STARTERS. Someone's had their nose in the Tipp-Ex bottle tbh Link to comment Share on other sites More sharing options...
Guest alex Posted July 24, 2009 Share Posted July 24, 2009 Are you comparing assets with trading loss/profit? To be fair as we are no longer a PLC it's virtually impossible to get enough genuine information to make a robust estimate of current value, but if you take last set of figures available BA (Before Asley) and extrapolate them using the press speculation about various things you get back to a value of about £80-£100M, many ways to value a business but as in any market any business is "worth exactly what somebody is prepared to pay" No one appears willing to pay the £80-100m though. Link to comment Share on other sites More sharing options...
trophyshy 6432 Posted July 24, 2009 Share Posted July 24, 2009 *****uninformed speculation follows****** Are we actually reaching a point where Ashley would get more money by winding the club up and trying to get paid back some percentage of his "loans" to the club as a creditor? Nah thats a way off yet, ask John the Brief (lawyer specilising in insolvency) he has posted plenty of stuff about this on other forums. Where is this John? Get him in here, assuming he'll hang around long enough to say something. Link to comment Share on other sites More sharing options...
Prince Albert 0 Posted July 24, 2009 Share Posted July 24, 2009 (edited) *****uninformed speculation follows****** Are we actually reaching a point where Ashley would get more money by winding the club up and trying to get paid back some percentage of his "loans" to the club as a creditor? Nah thats a way off yet, ask John the Brief (lawyer specilising in insolvency) he has posted plenty of stuff about this on other forums. Where is this John? Get him in here, assuming he'll hang around long enough to say something. He's a very busy bloke Not a workshy tosser like me EDIT: Just emailed him so assuming he's not in court..... Edited July 24, 2009 by Prince Albert Link to comment Share on other sites More sharing options...
Kid Dynamite 5899 Posted July 24, 2009 Share Posted July 24, 2009 You know whats coming, Ashley will have to stay, hel asset strip the sqaud, wel get relegated, hel go bankrupt and the club will go into administration and start the season on -12points in League one next year Link to comment Share on other sites More sharing options...
Park Life 70 Posted July 24, 2009 Share Posted July 24, 2009 Looking like FS's rumoured 60m offer is the best out there. Link to comment Share on other sites More sharing options...
Fop 1 Posted July 24, 2009 Share Posted July 24, 2009 You know whats coming, Ashley will have to stay, hel asset strip the sqaud, wel get relegated, hel go bankrupt and the club will go into administration and start the season on -12points in League one next year He's brought it on himself TWICE now. We'd never have been relegated last season if he'd not taken probably the most self-destructive route possible post-Keegangate. Yet he learnt absolutely nothing from that debacle and is busy repeating most of the same idiocy now. He's 1% businessman and 99% fuckwit. Link to comment Share on other sites More sharing options...
Monkeys Fist 38675 Posted July 24, 2009 Share Posted July 24, 2009 You know whats coming, Ashley will have to stay, hel asset strip the sqaud, wel get relegated, hel go bankrupt and the club will go into administration and start the season on -12points in League one next year He's brought it on himself TWICE now. We'd never have been relegated last season if he'd not taken probably the most self-destructive route possible post-Keegangate. Yet he learnt absolutely nothing from that debacle and is busy repeating most of the same idiocy now. He's 1% businessman and 99% fuckwit. Where's this 1% come from Fopper? Link to comment Share on other sites More sharing options...
brummiemag1 0 Posted July 24, 2009 Share Posted July 24, 2009 You know whats coming, Ashley will have to stay, hel asset strip the sqaud, wel get relegated, hel go bankrupt and the club will go into administration and start the season on -12points in League one next year This is my worst fear and if the club isn't sold soon I think it may well happen. This cunt really coudn't have done a better job of destroying our club if he tried. I keep thinking he's a clown but I am honestly starting to wonder if he is deliberately running the club into the ground Link to comment Share on other sites More sharing options...
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