Alan Pardew has admitted that key midfielders, Siem De Jong and Cheick Tiote are struggling for the start of the season.

Cheick Tiote has only managed an hour of pre-season action against Sheffield Wednesday, whilst Siem De Jong has been missing ever since he limped off against Wellington Phoenix.

alan pardewThere had been total silence from the club on Tiote’s position but following the match at Huddersfield, Alan Pardew revealed that he’s likely to be missing the two players who would have been definite starters against Manchester City,

“We took all the senior players who were fit – no Cheick (Tiote), no Siem (De Jong).

“Whether they make the first game I don’t know, but they are going to have significant parts to play this season, of that there is no doubt. They are important players.”

Talking about having ‘significant parts to play this season’ suggests to me that it may not just be the opening Premier League match that they will miss…

41 comments
IntravenusMP
IntravenusMP

It's good to address the realities of NUFC finances. what is missing from the Debt figure is the other creditors and looming liabilities. Whilst common practice in football, there was a huge problem of transfer instalments that were due to be paid along with wages that were due over the close season and Barclays were not prepared to extend the facilities to pay either of these liabilities. 


Truth was that NUFC had over-extended itself with transfer fees due and wages that were not sustainable. The directors / shareholders were not prepared to put money back in (taken as handsome divis) so someone else had to do it. The only willing 'mug' was Mike Ashley who was either duped into thinking he had to move so fast he couldn't do due diligence on the club or simply didn't care too much as he had to find a home for his recent SD floatation income that was away from the taxman. 


The point I'm making is all the debt and the liabilities had to be taken into consideration, not just that of the overdraft and Eurobond / mortgage. 


Ashley's mistake was to pay Hall & shepherd for the club, it's likely that he could have simply waited until the bank was on the brink of taking the club into administration and then pounced, paying only the debt and creditors and being £140m richer which [could have been] invested in players and hey presto, NUFC would have been kings of Europe. Reality is the structuaral problems in NUFC finances would have needed to be resolved first, these were only addressed when we were relegated and subsequently promoted with the sale of Andy Carroll. 

Ollie Burtons Grandad
Ollie Burtons Grandad

Ah Fatmans friend returns with a big up for his Boss.

Fatman bought NUFC to advertise his main business which he has done to the detriment of the club. Fatman had (and still has) loads of money to invest in NUFC but chose not to.

Andy Carrolls cash was trousered by the Fatman due to him being a Greedy tight Arsed F*cker. Don't try to spout the poor hard done by Ashley shite.

IntravenusMP
IntravenusMP

@Ollie Burtons Grandad Gosh, I'm sure Ollie Burton is going to turn out as an articulate young man with you as a mentor.


Yes, Ashley bought NUFC as a vehicle for SD to promote itself. Is that a probelm? 


Andy Carroll money went into NUFC's bank account. 

1957
1957

There are numerous articles floating around that decry or support Ashley's running of the club but to put things simply;

Ashley has bought a football club, that he has allowed to fail due to poor choice in management personnel in Wise, Llambias, Charnley etc, who have been subsequently allowed to appoint poor choices as football management Pardew and Carver and compounded this by overseeing a woeful amount of investment in players.

You can sit forever and a day arguing about finances. It's not wrong to try to ensure the club at least breaks even however that has to be balanced by the need for results and a stable league position.

The only way to move forward is to appoint a competent coach/manager and then build a squad of players of reasonable quality and to do this not just this summer but at annually. I don't know what will happen, but worry about Charnley being the man who will apparently have final say over the future.

Paul Down under
Paul Down under

I am certainly not that well informed but.......SD do not pay? for the ground advertising does this not account for the significant revenue drop/lack of growth since 2007?

Morpethmag
Morpethmag

I love it when it fans have all the correct facts figures and dates, a brilliant post, well done Chris,,,,

Andgeo
Andgeo

Good work Chris!

RaySte
RaySte

Good article but why is no one mentioning the fact Ashley admitted the club tills pay into SD? You can tell by that blokes picture he's a reet bellend. As well I don't know what the blokey hopes to prove by showing us our average league position. I wonder how long those sums took to work out what a waste of time. Chelsea or man city would average around mid table too I'd bet over a 50 year period, what does that prove?


Probably a fair point about Shepherd tho, we were probably gonna go bust under his auspices. Does it excuse the fact that we sell our best players every summer, never compete in a cup and (insert grievance here)? No.


As for Ashley I don't know what to make of him. Hate him up to now, but I really don't know what to make of his interview. Hope he is serious about investing this summer, he seemed to suggest that was the case. I guess time will tell.

Ollie Burtons Grandad
Ollie Burtons Grandad

In summary then; Scott's article was a well put together bag of shite written by a smug smartarse.

Sorted

CMRowley
CMRowley

Great post, every thing I wanted to say but didn't have the time to write.

I'd add that any loans we had with financial institutions prior to Ashley were structured, now, the perceived debt to Ashley can be called in anytime and we are screwed.

Kevin Halliday
Kevin Halliday

Very well written Chris. Well done mate. Keep it up feller.

ToonBano
ToonBano

There Is one major and actual obvious difference between pre-Ashley NUFC & when he took over. In the fact the club was subject to a Billionaire takeover. In which that billionaire takes on any debt, before he arrived or he actually creates through big spending on transfers, for which the club then grows and prospers. The team has licence and the funds to bring in players your average shareholder club can't as they simply can't afford it.

Mike Ashley is one of the most wealthy men in the UK. His company is absolutely huge. He could afford to spend in the same mould as Abramovic, if he wanted to, seeing as Chelsea make themselves a fair whack in selling players as well as creating club wealth by being successful. Commercially and otherwise.

Mike Ashley chose to spend nothing. In fact he has MADE money on transfers and managed to somehow. make a team worse by getting it relegated. If the club needed an administrator to sort out the finances, Mike Ashley did a great job. If the club needed an owner to take the club forward, Mike Ashley could not have done a worse job.

We have a Billionaire owner. An owner who has the option to swap the debt we 'owe' him into equity. He. Old raise the value of that equity by being successful. He CHOOSES not to. The man is a shambles.

End of story.

Sickandtiredstill
Sickandtiredstill

@ToonBano 'Course he did. Like he and his army of advisers  couldn't work out the Club had mortgages? Probably all he never understood was the players fees which, like most clubs, was forward loaded.

ToonBano
ToonBano

Also nobody asked Ashley to come in and take on the debt and sort out the finances. He CHOSE to buy this club. The man is so short sighted he didn't even check the books. What kind of a business man doesn't check a company's books before buying it? However to be honest, who cares of the club had debts of £100m.....can he not afford it? He isn't chairman hired by a board to run the club...he is a billionaire owner. Not small change, but not so big he hasn't got anything left to play with.

IntravenusMP
IntravenusMP

@ToonBano The question you don't answer is why would he? It makes no difference to the club but leaves him in a far weaker position should he ever with to withdraw any income from a liquid asset. 

IntravenusMP
IntravenusMP

@ToonBano He chose to and his mistake was paying over the odds. The point remains that he was the only game in town to resolve NUFC's issues, it's just that he didn't realise it. 


Nufc were due for a very bumpy ride whatever happened. The bank were not lending more money and the shareholders were not showing an inclination to put money in so something had to give. 

Sickandtiredstill
Sickandtiredstill

RexN's blog beat you to it and responded just as eloquently and factually.

Scott's piece was the most twisted piece of fact bending or presentation I have had the anger to read.

Toontastic
Toontastic

Fantactic read mate, but one thing I don't understand.


If Newcastle are worse off with MA with debts just below £95 million, where has this £18 million profit came from? 


Wouldn't it make more sense that Newcastle wouldn't make this much profit this season?  

Sickandtiredstill
Sickandtiredstill

@Toontastic Haha! There's the kicker mate - it doesn't matter how much 'profit' the Club ever makes, those 'loans' will never decrease unless he 'pays' himself back from it. Or rather, MASH, which provided the mponey (yes that's him too)

The Club still owes him 129 million, that's the unpalatable truth.

Alltomuch
Alltomuch

No mention of the free S/D advertising ?

That if true should bring 20m a year off the loan,shouldn't it.

Then there is the shirt sales etc, isn't that going into S/D coffers?

Sickandtiredstill
Sickandtiredstill

@Alltomuch Take a read of the latest from RFC regarding their retail 'deal'. Thankfully it looks like they are going to make it all public.

GToon
GToon

So that's it in black and white for all to see. When he arrived debt was 67.3m and now it's 94.9m. So we are worse off under Ashley. So how does Ashley think we are stronger financially according to his interview? Cos we consolidated all of our loans and used him instead of ocean finance? What a mess.