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I watched the ME interview again last nite. It is a very painful watch, and doesn't exactly showcase ME's business acumen in any good light. However in some way I do feel sorry for him, football business is like no other, and that oft mentioned 5 point plan has little or no relevance and lies broken and tattered in the dirt.
What next Marcus? We the fans, who are a massive part of the club, would like to hear from you again.
I just can't believe he purchased the club with the intention of making money. Do any club owners actually take regular profits from their club. He must have known that there was a 99.9% chance that he'd be forking out rather than earning.
I just can't believe he purchased the club with the intention of making money. Do any club owners actually take regular profits from their club. He must have known that there was a 99.9% chance that he'd be forking out rather than earning.
Only he knows why he purcahsed it, he has never realyed this info to the fans. Mike Ashley has made shedloads out of Newcastle btw.
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What happens next? on 15:15 - Jan 6 with 2403 views
I just can't believe he purchased the club with the intention of making money. Do any club owners actually take regular profits from their club. He must have known that there was a 99.9% chance that he'd be forking out rather than earning.
I think he's said before that Sheepy did a very good selling job.
I just can't believe he purchased the club with the intention of making money. Do any club owners actually take regular profits from their club. He must have known that there was a 99.9% chance that he'd be forking out rather than earning.
I have written it before & I'll write it again... just because the business makes a loss does not mean the owner has not made money. Without trawling through detailed accounts I can't comment on any specific club or owner.
However
As with many companies the way to get money out is to set up sub-companies, a company I have worked for was broken down into 5 sub-companies;- 1. Owned the staff contracts 2. Owned company vehicles leases 3. Owned the property lease 4. Owned the lease to the "goods & chattels" 5. Was a miscellaneous other
All of these subsidiaries charged the parent company 10% on top of actual costs, all the subsidiaries we further owned by various "investment vehicles" based off shore, then there's directors fees, loans that are never repaid etc. etc.
As long as the various subsidiaries are paid for their services the owners are raking in money.
As another poster points out Ashley has made money out of loss making Newcastle, like people made money out of BHS collapse
I have written it before & I'll write it again... just because the business makes a loss does not mean the owner has not made money. Without trawling through detailed accounts I can't comment on any specific club or owner.
However
As with many companies the way to get money out is to set up sub-companies, a company I have worked for was broken down into 5 sub-companies;- 1. Owned the staff contracts 2. Owned company vehicles leases 3. Owned the property lease 4. Owned the lease to the "goods & chattels" 5. Was a miscellaneous other
All of these subsidiaries charged the parent company 10% on top of actual costs, all the subsidiaries we further owned by various "investment vehicles" based off shore, then there's directors fees, loans that are never repaid etc. etc.
As long as the various subsidiaries are paid for their services the owners are raking in money.
As another poster points out Ashley has made money out of loss making Newcastle, like people made money out of BHS collapse
You can tell how much a group of companies makes by reference to the consolidated accounts as all inter entity trading is eliminated in their preparation.
I have written it before & I'll write it again... just because the business makes a loss does not mean the owner has not made money. Without trawling through detailed accounts I can't comment on any specific club or owner.
However
As with many companies the way to get money out is to set up sub-companies, a company I have worked for was broken down into 5 sub-companies;- 1. Owned the staff contracts 2. Owned company vehicles leases 3. Owned the property lease 4. Owned the lease to the "goods & chattels" 5. Was a miscellaneous other
All of these subsidiaries charged the parent company 10% on top of actual costs, all the subsidiaries we further owned by various "investment vehicles" based off shore, then there's directors fees, loans that are never repaid etc. etc.
As long as the various subsidiaries are paid for their services the owners are raking in money.
As another poster points out Ashley has made money out of loss making Newcastle, like people made money out of BHS collapse
Now spend some time working out the actual cash flows in what you've described below and a tell me how Evans hasn't lost 90 odd million.
Honestly the reluctance to believe the blindingly obvious on here is staggering.
Evans can be justifiably criticised for plenty of things. He has lost a huge amount of money and ploughed more into ITFC than anybody before - that's indisputable.
Now spend some time working out the actual cash flows in what you've described below and a tell me how Evans hasn't lost 90 odd million.
Honestly the reluctance to believe the blindingly obvious on here is staggering.
Evans can be justifiably criticised for plenty of things. He has lost a huge amount of money and ploughed more into ITFC than anybody before - that's indisputable.
I wasn't referring to Evans, simply that it is possible.
Given the club's financial position in the context of the Championship - assuming ME isn't going to find an additional £20m or so to throw in each year - aren't the strands of the five-point plan the only approach which can be taken? Problem is that it's fighting an increasingly less winnable battle.
I wrote the below nearly a year ago and nothing has changed other than that we're now in a relegation battle rather than in paralysis perennially in mid-table.
What really bothered me was the part when he talked about trying something different (ie what turned out to be the appointment of Hurst).
"Let's hope it works".
Hope?
Hope, FFS?
Surely if you've taken your time and really done your due diligence over such a critical appointment, hope would not be necessary?
In fairness you can never be sure though, bringing in a League One Manager with no Championship experience is a risk, none of us complained at the time, this guy had Shrews organized and hard to beat playing football on the deck, he convinced ME of of his nous of lower league talent no doubt, players in his view good enough to actually move us forward(unbelievable now)...brought in far too many looking back..
We were all so desperate for change at the time, Evans wasn't prepared to make that a more costly one though..
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What happens next? on 17:48 - Jan 6 with 2013 views
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