bruce778 Posted March 30, 2015 Share Posted March 30, 2015 Exactly the point I've been making the last few pages. Because of the recent debacles the board need to be SEEN to be doing things the right way. I know loads of Bears are delighted with the changes but I'm still weary. Your point about the NOMAD is something that worries me. 4 in the last 3 years cant be dressed up to be positive no matter how hard we want it to be. They are certainly saying all the right things, but that's all it is at the moment. As you say, time will tell if we do actually make steps in the right direction rather than just talk about it. You can't blame the board for the previous issues with the nomads. I don't think it will be as simple as thplinths explanation that the shares are just worthless. It may be difficult to have the company re listed but I would be very surprised if there is not a mechanism to do so. Essentially, it seems that, if that does not occur, it's just like having shares in a company that is not publicly listed. Quote Link to comment Share on other sites More sharing options...
Angus_Young Posted March 30, 2015 Share Posted March 30, 2015 You can't blame the board for the previous issues with the nomads. I don't think it will be as simple as thplinths explanation that the shares are just worthless. It may be difficult to have the company re listed but I would be very surprised if there is not a mechanism to do so. Essentially, it seems that, if that does not occur, it's just like having shares in a company that is not publicly listed. I'm not blaming them mate, simply pointing it that securing NOMADs in future might become a problem if we keep going through them at this rate. If King has one lined up then fine, but all has been quiet on that front since the start of the month. I'm prepared to give them time to sort things out. The place is an utter shambles from top to bottom and there will be no quick fix. I'm just not jumping for joy just yet is all. Quote Link to comment Share on other sites More sharing options...
Angus_Young Posted March 30, 2015 Share Posted March 30, 2015 Newcastle announce £19m in profits for 2013/14, 4th consecutive year of profits. They are also £129m in debt to Mike Ashley. Quote Link to comment Share on other sites More sharing options...
scoobydoo Posted March 30, 2015 Share Posted March 30, 2015 Wtf is a nomad? A sensible hun. Quote Link to comment Share on other sites More sharing options...
GRBear Posted March 30, 2015 Share Posted March 30, 2015 Newcastle also play in the BPL Quote Link to comment Share on other sites More sharing options...
thplinth Posted March 30, 2015 Share Posted March 30, 2015 They are also £129m in debt to Mike Ashley. You make that sound like a bad thing. Newcastle United have announced a record annual profit of £18.7m for 2013-14, the fourth consecutive financial year they have made money. The Premier League club's debt remains at £129m, which they say is an interest-free loan from owner Mike Ashley. "The club benefits from a supportive owner and is financially stable," said managing director Lee Charnley. "This gives us a strong platform from which to grow, on and off the pitch." He added: "A result of which means, as we move forward, we are able to net spend on the playing squad and invest in other areas of the business." Just imagine if RFC had an owner like Mike Ashley...oh wait. Quote Link to comment Share on other sites More sharing options...
Chief Posted March 30, 2015 Share Posted March 30, 2015 Anyone suggesting Mike Ashley would've been positive for Rangers is clearly just trolling, the evidence to the contrary is overwhelming and doesn't really need to be justified with any type of debate anymore. Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted March 30, 2015 Share Posted March 30, 2015 You make that sound like a bad thing. Just imagine if RFC had an owner like Mike Ashley...oh wait. What would you expect a mouthpiece for Ashley to say? He's a fat robbing that treats his Sports Direct employees little better than slaves? Quote Link to comment Share on other sites More sharing options...
Larky Masher Posted March 30, 2015 Share Posted March 30, 2015 http://www.telegraph.co.uk/sport/football/teams/rangers/11449904/Rangers-share-trading-suspended-although-board-claim-they-tried-to-stop-process.html If King finds a Nomad this will be the fifth one since 2012. That turnover in itself is now a problem. Then you have King as on the board but not on the board. They did try address the lack of diversity on the board by the appointment of the chap who drew cartoons of the prophet mohammed performing a homosexual sex act on Jar Jar Binks. effectively worthless... Man this is some pretty instant financial karma to those who voted Team King in and Team Ashley out if it happens. King said he had a nomad lined up and one who would approve him as a director. Maybe they are just playing hardball on their fee for such services or maybe they got cold feet...time will tell. Shares won't be worthless they'll still be able to be traded on a matched bargain basis just like the shares in Aberdeen and Spurs. Quote Link to comment Share on other sites More sharing options...
Angus_Young Posted March 30, 2015 Share Posted March 30, 2015 (edited) You make that sound like a bad thing. Just imagine if RFC had an owner like Mike Ashley...oh wait. Ashley's lapdog says its a good thing? Shock Chuckling at the 'grow on the pitch' quote. Newcastle didn't sign a player for 18 months. They have no interest in progressing that football club on the pitch. Absolute minimum investment in playing staff and management team to keep them in the league and as such maximise his profits. Why would a club that makes that kind of profit require a loan like that? Because he knows fine well, no potential buyer will be interested, with that to pay off first. Edited March 30, 2015 by Angus_Young Quote Link to comment Share on other sites More sharing options...
bruce778 Posted March 31, 2015 Share Posted March 31, 2015 Interim results for the six month period to 31 December 2014. Very lengthy document available on LSE website. Not audited by Deloitte (or at all) who resigned as auditors after the 30 June 2014 audit apparently. Quote Link to comment Share on other sites More sharing options...
bruce778 Posted March 31, 2015 Share Posted March 31, 2015 Rangers have to pay Newcastle 500,000 pounds if they get promoted because they loaned the 5 players from Newcastle!! Yet some on here insist Ashley is a good option! Quote Link to comment Share on other sites More sharing options...
Parklife Posted March 31, 2015 Share Posted March 31, 2015 Rangers have to pay Newcastle 500,000 pounds if they get promoted because they loaned the 5 players from Newcastle!! Yet some on here insist Ashley is a good option! Ashley is making money for the club he owns. Surely that only demonstrates his good business acumen? He's not allowed to own Rangers and all the Bears hate him, so why shouldn't he screw every penny he can out of them, for the benefit of the club he owns. Quote Link to comment Share on other sites More sharing options...
TartanJon Posted March 31, 2015 Share Posted March 31, 2015 Obviously the £2.6m loss in six months has nothing to do with the staff wages Quote Link to comment Share on other sites More sharing options...
thplinth Posted March 31, 2015 Share Posted March 31, 2015 ahem its a 2.86m loss in 6 months I said they were losing about 500k a month sometime ago and it looks like nowt has changed much. Did not know about Deloitte quitting as auditor but. I would guess that is not helping the search for a new Nomad neither. Start to get the feeling RFC 2012 is becoming a little toxic in the eyes of the professional community but let's see who King rolls out to save the shares getting de-listed. If he fails to find a nomad mad enough to take them on and the shares get de-listed then this has been a huge mistake as it will domino into other problems... crucial few days. Quote Link to comment Share on other sites More sharing options...
thplinth Posted March 31, 2015 Share Posted March 31, 2015 Why would a club that makes that kind of profit require a loan like that? Because he knows fine well, no potential buyer will be interested, with that to pay off first. Ashley is 100% owner of Newcastle, it is irrelevant if he funds the club using equity or debt. He could at any time convert all the debt into equity, just a few lawyers bills to do it. Equally if he wanted to sell it the potential owners would just take the debt off the price. That is why it is important to know how much a debt free Rangers, oops sorry, a debt free Newcastle would be worth, then take off the debt. If that number is negative then Ashley would have to pay someone to take on the club to the difference. However if NFC is making 19m a year then I think the club is currently probably worth more than 129m. So Ashley would probably still get some money on top. (Tartanjon - Does RFC still have to pay the 500k even for the loan player with AIDS?) Quote Link to comment Share on other sites More sharing options...
dipped flake Posted March 31, 2015 Share Posted March 31, 2015 ahem its a 2.86m loss in 6 months I said they were losing about 500k a month sometime ago and it looks like nowt has changed much. Did not know about Deloitte quitting as auditor but. I would guess that is not helping the search for a new Nomad neither. Start to get the feeling RFC 2012 is becoming a little toxic in the eyes of the professional community but let's see who King rolls out to save the shares getting de-listed. If he fails to find a nomad mad enough to take them on and the shares get de-listed then this has been a huge mistake as it will domino into other problems... crucial few days. and that loss is for the first half of the season, which will include most (all?) of the season ticket money Quote Link to comment Share on other sites More sharing options...
Fairbairn Posted March 31, 2015 Share Posted March 31, 2015 Rangers have to pay Newcastle 500,000 pounds if they get promoted because they loaned the 5 players from Newcastle!! Yet some on here insist Ashley is a good option! That doesn't surprise me in the slightest however surely the £100K per player will only be payable if the players have actually, you know, played for the club!! Quote Link to comment Share on other sites More sharing options...
Flure Posted March 31, 2015 Share Posted March 31, 2015 Douglas Fraser @BBCDouglasF 12m12 minutes ago #Rangers auditors have quit: 6mth loss comes with 'going concern' warning: deadline for NomAd this week, "currently investigating options" Quote Link to comment Share on other sites More sharing options...
Flure Posted March 31, 2015 Share Posted March 31, 2015 BBC Sport Scotland @BBCSportScot 28m28 minutes ago "We can and will return this club to a strong and profitable footing" - #Rangers' Paul Murray: http://bbc.in/19DUkEm Quote Link to comment Share on other sites More sharing options...
RenfrewBlue Posted March 31, 2015 Share Posted March 31, 2015 Ashley is 100% owner of Newcastle, it is irrelevant if he funds the club using equity or debt. He could at any time convert all the debt into equity, just a few lawyers bills to do it. Equally if he wanted to sell it the potential owners would just take the debt off the price. That is why it is important to know how much a debt free Rangers, oops sorry, a debt free Newcastle would be worth, then take off the debt. If that number is negative then Ashley would have to pay someone to take on the club to the difference. However if NFC is making 19m a year then I think the club is currently probably worth more than 129m. So Ashley would probably still get some money on top. (Tartanjon - Does RFC still have to pay the 500k even for the loan player with AIDS?) So Ashley loans Newcastle 129m and then reaps a 10m to 20m "dividend" every season as long as they stay in the EPL? And people still say it's an interest free loan? No wonder the Geordies hate him. He's parked their club in mid table with no intention on bigger success due to the level of investment required. They have nothing to hope for and no future progression. Quote Link to comment Share on other sites More sharing options...
TartanJon Posted March 31, 2015 Share Posted March 31, 2015 (Tartanjon - Does RFC still have to pay the 500k even for the loan player with AIDS?) Quote Link to comment Share on other sites More sharing options...
johnnie x Posted March 31, 2015 Author Share Posted March 31, 2015 Nice earner from the commonwealth games. Quote Link to comment Share on other sites More sharing options...
Dalgety Bay TA Posted March 31, 2015 Share Posted March 31, 2015 So Ashley loans Newcastle 129m and then reaps a 10m to 20m "dividend" every season as long as they stay in the EPL? And people still say it's an interest free loan? No wonder the Geordies hate him. He's parked their club in mid table with no intention on bigger success due to the level of investment required. They have nothing to hope for and no future progression. This close season will be make or break for the Newcastle fans/Ashley relationship. He has to appoint a manager. If its John Carver on a permanent deal then there will be open revolt from the fans. If he does appoint another person as manager (Steve McClaren now rumoured) then that manager will want to spend money, something Ashley tends to not like doing. But who would agree to manage them without a decent transfer budget? Quote Link to comment Share on other sites More sharing options...
UPROAR Posted March 31, 2015 Share Posted March 31, 2015 ahem its a 2.86m loss in 6 months I said they were losing about 500k a month sometime ago and it looks like nowt has changed much. Did not know about Deloitte quitting as auditor but. I would guess that is not helping the search for a new Nomad neither. Start to get the feeling RFC 2012 is becoming a little toxic in the eyes of the professional community but let's see who King rolls out to save the shares getting de-listed. If he fails to find a nomad mad enough to take them on and the shares get de-listed then this has been a huge mistake as it will domino into other problems... crucial few days. so you're saying they need a mad nomad ? Quote Link to comment Share on other sites More sharing options...
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