Author Topic: Kevin Keegan is a legend  (Read 284360 times)

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Online Pandamninator

  • General Member
Re: Kevin Keegan is a legend
« Reply #3225 on: Sunday 17 May 2020, 08:54:36 AM »

"This club had £100million-worth of debt which has now been cleared and it would be foolish to stretch it beyond its limits.


I HATE this quote!

I am right in saying that the most of the debt Ashley inherited was in relation to the level seven expansion, aren't I?! It was secured against 40K season ticket sales up until 2015 but needed to be paid within 30 days IF a sale of the Club went through!

Thats right, the loan was secured against the stadium expansion and extra ST sales.  Iirc that loan had to be paid up in full when the club was sold which is why Ashley had to fork out the extra money.  This should have been highlighted in due diligence for Ashley to consider.  If due diligence was ever carried out in full of course.

Why Ashley couldn't remortgage I dunno and why he refused to use the overdraft facility Barclays said he could have I dont know either, he basically strangled NUFC of cash flow.

Cheers mate!

That £100m figure is used by all of the media and those lot down the road to declare how Ashley saved us as we were going to do a Leeds etc - utter s****!



Yeah we got bashed over the head by it a few times, they totally ignored that the extra ST money was paying this off with mortgage payments, Ashley also refusing the Barclays overdraft facility seemed very odd as well.  I suppose he had a business model that he worked to but for a football club it basically strangled finances, even with the extra TV revenue.  Remember he was also happy to sell players to other clubs with payments stretched over a few seasons but for NUFC he insisted that any new players had to be bought out right in one payment.

Guessing the Fat Mans logic is by he is able to charge a premium (as well as interest as Derek bragged about when talking about Liverpool being later for a Carroll payment) by selling a player and being paid over time.  On the flip side he will be demanding a discount when he buys a player for paying cash up front.
"But Italian football can defy the laws of physics; only here does a small pull backwards on the shirt send a grown man tumbling forwards"

Offline Kanji

  • PGA
  • General Member
Re: Kevin Keegan is a legend
« Reply #3226 on: Sunday 17 May 2020, 05:34:39 PM »
His management of cash flow makes abs 0 sense when we accepted fees on sales over multiple years but paid everything outward up front.
N U F C

Offline jonbobson

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Offline Mikky

  • General Member
Re: Kevin Keegan is a legend
« Reply #3228 on: Friday 29 May 2020, 10:02:50 AM »
https://www.facebook.com/TheMagpieChannel/videos/309758583348595/

KK  :love:

I could listen to the bloke all day - nobody will ever compare to him (for the time being)

Offline t00nraider

  • General Member
Re: Kevin Keegan is a legend
« Reply #3229 on: Friday 29 May 2020, 10:11:04 AM »
His management of cash flow makes abs 0 sense when we accepted fees on sales over multiple years but paid everything outward up front.

It does a little. Those clubs desperate for money willing to pay less if money up front and those willing to pay more, but unable, over a longer period of time It sounds good, but obviously paying more for a player to help keep us up or finish higher pays the difference off and more.

Online chopey

  • General Member
  • Co Durham, England.
Re: Kevin Keegan is a legend
« Reply #3230 on: Friday 29 May 2020, 10:17:08 AM »


What the holy f***, its also a book, why am I just finding this now ?
Mike Ashley stole my 30's

Offline NEEJ

  • General Member
  • Kent
Re: Kevin Keegan is a legend
« Reply #3231 on: Friday 29 May 2020, 11:32:29 AM »
:lol: he's been crowdfunding it for ages.