Mike Ashley -- Irrelevant Cunt

[Anorthernsoul 1221]

Looks like he's got some new mates.

 

 

[Howay 12452]

 The best people, wonder if they ended the night with spewing into a fireplace. 

[trooper 940]

So this cunt has just offered Debenhams £150 million as long as he can be boss. Mind he wants £148 million worth of debt written off. 

 

Retail tycoon Mike Ashley has offered a £150m cash injection to ailing retailer Debenhams - as long as he can become its chief executive.

Mr Ashley, who is Debenhams' biggest shareholder, has been embroiled in a battle for control with its board.

Last week, the retailer challenged Mr Ashley to table a firm takeover offer or abandon his attempt to take control and provide funding instead.

Debenhams has refused to comment on the offer.

Days before a lender-imposed deadline is due to expire, Sports Direct has offered to underwrite £150m of new equity funding for the retailer but only if Mr Ashley becomes chief executive and £148m of debt is written off by lenders, who include banks and hedge funds.

[PaddockLad 14574]

Plainly @Dr Gloom s source/nark/lover

 

 

https://www.chroniclelive.co.uk/sport/football/football-news/the-club-sold-before-end-16100695.amp?__twitter_impression=true

[trooper 940]

1 hour ago, PaddockLad said:

Plainly @Dr Gloom s source/nark/lover

 

 

https://www.chroniclelive.co.uk/sport/football/football-news/the-club-sold-before-end-16100695.amp?__twitter_impression=true

[Sonatine 9976]

Looks like £150 million down the pan for Fat Mike...

 

 

[ewerk 26228]

Maybe if he’d been less of a cunt they mightn’t have kill themselves rather than accept his offer.

[Dr Gloom 19779]

1 hour ago, PaddockLad said:

Plainly @Dr Gloom s source/nark/lover

 

 

https://www.chroniclelive.co.uk/sport/football/football-news/the-club-sold-before-end-16100695.amp?__twitter_impression=true

 all I know is kenyon’s offer was real and sizeable. 

[trooper 940]

He's obviously got the lip on 

Sports Direct confirms that it is no longer interested in a takeover of Debenhams following its collapse into administration.

[TheGingerQuiff 2412]

add to the long list of stuff he's done since his Sports Direct fluke and ended up with egg on his face

[trooper 940]

He thinks it's scandalous all because he couldn't get it all 

https://www.bbc.co.uk/news/business-47864580

[ewerk 26228]

That’s £150m lost on Debenhams, £300m on HBOS. If this continues it’s soon going to add up to real money.

[Rayvin 4963]

I can't work out if it's satisfying or depressing that if he'd spend that on us we'd be challenging the top 6 and worth a lot more in any sale.

Edited April 9, 2019 by Rayvin

[trooper 940]

15 minutes ago, ewerk said:

That’s £150m lost on Debenhams, £300m on HBOS. If this continues it’s soon going to add up to real money.

At the minute it's probably a bit of loose change especially as he's allegedly worth £4.5 billion 

[TheGingerQuiff 2412]

8 minutes ago, trooper said:

At the minute it's probably a bit of loose change especially as he's allegedly worth £4.5 billion 

 

It'll be Sports Direct's money anyway. Thought he was worth less than 2 billion these days.

Edited April 9, 2019 by TheGingerQuiff

[TheGingerQuiff 2412]

Surprised SD share price didn't take a hit mind

[trooper 940]

1 hour ago, TheGingerQuiff said:

 

It'll be Sports Direct's money anyway. Thought he was worth less than 2 billion these days.

Aye Google reckons $3 billion about £2.3 billion

[RobinRobin 9192]

9 hours ago, TheGingerQuiff said:

Surprised SD share price didn't take a hit mind

Probably rose on the basis that he would not be losing more money on Debenhams now

[Alex 30336]

He just keeps on making great business decisions. 

[wykikitoon 16548]

That's his reason for no transfer spends in summer then.

[Leon 13]

Debenhams will either make him invest as a reliable revenue source to ensure we remain a premiership team or sell us as soon as he can so he can cash out and invest in his high street empire.   It has to be better than the limbo he has us in.

[Isegrim 8870]

16 minutes ago, Leon said:

Debenhams will either make him invest as a reliable revenue source to ensure we remain a premiership team or sell us as soon as he can so he can cash out and invest in his high street empire.   It has to be better than the limbo he has us in.

 

[ewerk 26228]

Quote

Newcastle bosses have been criticised in the past for not going on major spending sprees in the summer.

With only five games of the current campaign remaining and another summer transfer window looming, Lee Charnley, managing director at Newcastle United, reveals the complex nature of how clubs receive their funds from the hugely lucrative television deal.

Newcastle MD Charnley has spoken to offthepitch.com and says that the full payout from the TV deal comes over the course of 12 months. They are not paid up front.

“There remains a lack of understanding about the Premier League and how the television money comes into your football club, the perception that £125 million drops into it each summer is not right. The reality is more complex,” said Charnley.

“It’s not that we’re sat on this big pot of cash”

Following promotion in 2017, Newcastle spent in excess of £50 million and last summer signed seven players, but technically made a profit, although the nature of deals means the club will receive sections of incoming transfers, like that of Aleksandar Mitrovic, who moved to Fulham for £22 million, in coming years.

“It’s not that we’re sat on this big pot of cash waiting for a rainy day,” said Charnley.  “Money comes in, money goes out, what is left is available to spend.”

“In July, around £30 million arrives in the bank accounts of top flight clubs. A further payment comes in January, based on television appearances and then a further tv bonus landing in May.

“All the while there is around £4 million-a-month coming in from the tv deal, and then there are overseas television rights. There is a complexity to doing business lost in headline figures that talks about things like war chests.

“The money coming in from the television deal is spread over the course of 12 months. It doesn’t all land at once. Where does it go? Wages, of the players, of staff, on transfers and on the running costs of the club.”

Financial commitment

Charnley then broke down the nature of how that money moves when a transfer deal takes place.

He added: “If a club buys a player for £10 million, there is a 5-10 per cent fee then goes to the player’s agent and that is spread over the length of the contract.

“An average deal might be £50,000-a-week (including national insurance) for the player’s contract, for five years. That is a financial commitment to a football club of around £26.5 million which is generally not really recognised.”

The new TV deal kicks in this summer, with a total worth of around £4.5 billion. Sky Sports remained the major players in the English game, paying £3.58 billion for four rights packages, which means they will show all the games on Friday, Sunday and Monday evenings, a total of 128 matches per season for the next three seasons.

BT Sport spent £295 million on package A, consisting of 32 matches at 12.30pm on Saturdays and also picked up a further 20 matches through package G, which cost it £90 million.

Amazon Prime won the rights to show 20 Premier League matches for each of the three seasons from 2019/20 to 2021/22. They will show a full bank holiday schedule and one round of midweek matches.

I may have this wrong but is he saying that we pay for transfer fees up front yet accept deferred payments for player sales? That sounds like an insane way to run a football club to me. 

[Howay 12452]

1 hour ago, ewerk said:

I may have this wrong but is he saying that we pay for transfer fees up front yet accept deferred payments for player sales? That sounds like an insane way to run a football club to me. 

He is aye, and fully agree it’s a ridiculous way to do it. His initial argument also holds no value, saying “we get the tv money staggered through the year” as an excuse not to spend money doesn’t wash as you know that money is coming in, we could as you mention also stagger player payments as it seems every fucker else does, or put the money up now knowing full well it’s coming in. He’s also adding in costs to further his shite point, such as national insurance, yet neglecting to mention the flip sides of all of this which is coming from what I assume would be things like amortization on the players/their contracts reducing tax, and the fact that it’s not all that common a player is going to see through his 5 year contract so acting like you’re definitely paying the full 5 years is another deception. 

 

In any case, that sounds like we’ve got another summer window of fuck all going on tbh. 

Edited April 11, 2019 by Howay

[acrossthepond 699]

1 hour ago, ewerk said:

I may have this wrong but is he saying that we pay for transfer fees up front yet accept deferred payments for player sales? That sounds like an insane way to run a football club to me. 

I think that's been the policy since long before Charnley, I remember some of the exposes that came out during the KK fallout outlining that transfer policy. 

It isn't sensible in any sort of financial way, so the only logical conclusion is that it was designed to provide excuses for when we don't spend money.