You can’t move this Thursday morning for headlines quoting Mike Ashley and his ‘Rafa Benitez….can have every last penny..to build for next season’.

The full quote in the statement Newcastle United released last (Wednesday 10 May) night reading:

Mike Ashley:

“I’ve confirmed to Rafa (Benitez) and Lee (Charnley) that they can have every last penny that the club generates through promotion, player sales and other means in order to build for next season.”

‘Every last penny’ sounds pretty good and no wonder the media are falling over themselves to use it in their headlines.

However, what does it actually/really mean?

Is it the profit from last season or is it the expected profit from the coming season?

Or is it all of the money that will flow into the club ‘through promotion’, including all of the estimated money that will come next season from the Premier League TV deals?

Most people take it that ‘every last penny’ can be used by Rafa to buy players but when you look at it again, it doesn’t even say that.

Maybe Mike Ashley does mean that but judged on past performance, whatever he says usually ends up being a lot different in reality to what you were led to believe at the time.

Indeed, is he really just saying that the revenue that comes into the club, can then all be used to pay the usual wages and other costs, with whatever is left over able to be spent on players?

One part of his statement is worthy of closer inspection, when he says ‘they can have every last penny that the club generates through….player sales’.

It is a fair bet, and no surprise, that 99% Newcastle fans and neutrals would take that as meaning, if Rafa Benitez sells players this summer for combined transfer fees of £30m, then automatically it will lead to £30m being added to his transfer budget this summer.

However, if we look at the official NUFC accounts for the 2015/16 season that were released last month (April 2017), it gets a little more cloudy.

Extra information was provided about what had happened in the transfer market after that accounting period (up to the end of June 2016) had ended.

Newcastle United announce headlines of 2015/16 accounts  on 6 April 2017:

“Outgoing transfers will ultimately generate a significant net player trading surplus for the summer 2016 transfer window but, due to the cash profile of the deals, this will result in a net cash outlay in 2016-17.”

Then full Newcastle United accounts became available to view on 11 April 2017:

Extract from Newcastle United accounts for period up to 30 June 2016:

‘Subsequent to the balance sheet date the club has generated a net surplus of around £40m in respect of changes to the playing squad, a substantial proportion of the player sales are on deferred terms and will be received over the next 3-4 years, with the result that in the year ending 30 June 2017 there will be a net cash outlay with respect to these transfers.’

So the bottom line is that in his one full season at the club, Rafa Benitez has collectively sold players for around £40m more than the ones he has bought.

However, for whatever reasons, Mike Ashley has Newcastle United operating differently (no surprise there!) to your average club when it comes to when transfers are paid up.

Ashley has Newcastle paying up front the full fee when signing players, yet when selling he is happy for NUFC to be paid in instalments over a period of time. Hence why for example Tottenham are paying for Moussa Sissoko in five separate £6m instalments spread over five years.

This policy then leads to what is described in the accounts above – so in summer 2016 Rafa roughly bought players for £50m and agreed for others to be sold for £90m but that instead of £40m profit instantly ending up in Newcastle’s back, the figures actually show that Newcastle paid out more cash in that transfer window than they received. So presumably the full £50m left NUFC’s bank account and half or less of the £90m reached Newcastle’s account last summer.

So when Mike Ashley talks of Rafa Benitez getting ‘every last penny’ that is generated through ‘player sales’, is it the full figure they are sold for, or whatever instalments that fall due in any particular period?

If that £40m profit/surplus Rafa generated last season is actually only going to be actually £10m or so to spend this summer, then the whole policy means that it is actually not to Rafa’s benefit to sell anybody who might be of use next season.

For example, Florian Thauvin is leaving for around £10m this summer, but if that was spread over five seasons then Rafa might only see £2m of that paid now and added to his summer transfer budget.

Newcastle fans will be looking for Newcastle/Rafa to trade up on players but there is little immediate incentive to do so if what I have outlined above is the case.

The Manager could agreed £50m player sales and then maybe only get £10m of it to spend straight away.

Like so much of what the club do, statements are released but never properly put under scrutiny.

Nobody from the club, Ashley or Charnley will ever clarify exactly what this ‘every last penny’ declaration actually means.

These things are never challenged by the media who do have access the club, no doubt afraid of the consequences of asking awkward questions.

The only positive I can see is that instalment payments must be due this summer on those transfer fees agreed for the likes of Sissoko, Wijnaldum and others, so maybe/hopefully they will form part of what Rafa Benitez has to spend overall. However, even if that is true, this policy of pay up front but sell in instalments still looks as though it will leave Rafa far shorter on transfer funds than most Newcastle fans will be expecting.

It is great news that Rafa Benitez has indicated that he is staying but that is a very different story to trying to claim that everything is now running as it should be at Newcastle United.

(All contributions from Newcastle fans welcome, send articles (as well as ideas/suggestions) to [email protected])



  • Ken

    Glass half empty then ? See what happens in the summer good or bad then we can make our judgement based on fact rather than calling fat mike a weasel before anything has happened.

    • Jonathan Drape-Comyn

      yes because Mike Ashley has never done anything to suggest he could be a ‘weasel’… the man has proved time and time against over the past 10 years that he is the epitome of honesty.

      • Tynewalker

        That’s why you were proudly photographed with him.

      • Wor Lass

        BUT this time he`s not dealing with a narcissistic Yes-man who, allegedly, owes him thousands, a grateful but limited geordie who couldn`t believe his luck or Triple M`s beloved Village Idiot from Yarm. Rafa will have asked all the relevant questions and seems happy with what he has heard. Can`t we leave it at that for now?

        • Leazes Ender

          Ore you of the same ‘Wor’ family as Mongo, Brian?

          • Wor Lass

            I sincerely hope not!

    • DubaiExpat

      Got to say I agree with this – Ashley’s reign has been pretty disastrous and it’s very difficult to forgive and forget the many errors over the years but it does seem as though he is finally learning from his mistakes.

  • MYOFB

    I share your scepticism, but I’m pretty sure Rafa is wise enough to have asked these sort of questions. And as he’s staying, I’m going to believe he got the answers he wanted. I hope so.

  • Rich Lawson

    It seems to read like it’s money from this point on,so season ticket sales, tv,sponsorship money and whoever we sell but not the money in the bank ?

  • Bob Haskett

    For goodness sake…..just for once give the bloke a chance. I am no massive fan of Ashley but as a club we do spend more than most in the Premier League…although more often than not we waste most of it. I trust that Rafa will spend more wisely.

    • Tony Rose

      Couldn’t agree more. Stop poking holes in things and see how it all pans out. That’s the most positive news we’ve had in a decade. Reflect in our promotion and enjoy the summer.

    • Paul Patterson

      Fully agree.

  • John Wilson

    Why don’t you just start supporting the club instead of looking for problems. I think Mike Ashley has put more money into the club than anyone else in history.

    • Hughie_Gallacher

      He’s also taken more money out than anyone else, much of it in the form of free advertising for SD.

      • Oooh bobbi fleckman

        Wow, £2m a year of free advertining compares to £130 -£150m loan with free interest.

        Bare in mind, the club were paying interest rates of 8-14% on it’s borrowing before Ashley so take the lower figure: £130m at 8% = £10m a year.

        Moral of this, careful what you whine about.

        • HarryHype59

          In an era of untold TV money the club wouldn’t be in 130m debt and rising, if it was run correctly.

      • Andy Mac

        I’d like to know how much that “perk” has been worth to Fatman and SD ?

        It was no coincidence that the share price of his flagship company traded at around 93p when he bought the club yet within six years they were selling for over £9 per share. Some of that remarkable growth was surely due to the exposure he gained from NUFC and its place in the PL ?

        Having said that the dramatic fall in the value of his shareholding during the past 18 months which has had a lot to do with the select committee hearings/zero hour contracts issues may have persuaded the bloke to play the nice guy for a change in order to win back public approval and regain share value ?

        • Oooh bobbi fleckman

          The value of advertising is easily found by looking at a similar sized club in the EPL. Everton and Aston Villa (in the EPL) for instance would be a good yardstick. Advertising income for them is £4m each. So, SD take half the perimeter advertising at SJP, my maths makes that £2m.

          • Leazes Ender

            They dont have anything near the advertising overkill that SJP has Brian….. Ashley even took control of the internal TV screens and the large one on the Leazes stand which was for replays but only shows advertising for his brands… you have seriously underestimated deliberately…. Sports D*rect are stealing £5m a year easily!

          • Oooh bobbi fleckman

            When Everton list advertising income, they also mean all income, big screens etc. If you went to support the lads, you’d see the screens at other grounds.

          • Leazes Ender

            You know how many static boards there are Brian… 120 then there’s the electronic advertising then there’s the stuff on the stands…. the exposure is not even near Evertons! I can’t wait for the wrong colours to be shifted from the stadium!

          • Oooh bobbi fleckman

            yes, roughly the same number as any large football stadium. In fact, SJP is at a disadvantage given the TV cameras for not face the biggest advertising area.

          • Andy Mac

            The key word in that question Leazes was “worth” ? Not how much he has or hasnt paid for it ? There is no doubt in my mind that Fatman and his grubby little tatshops have benefitted more from the association with NUFC than we have from our links to SD, Loan Sharks and his dodgy dealings

          • Oooh bobbi fleckman

            The reality is, how much would it cost to get similar exposure via the tv coverage at a similar venue. No company is gong to pay the exact worth for advertising as they may as well keep the money in their pockets, the profit they make must exceed the cost.

            What NUFC would get from other advertisers will not exceed the amount of money Ashley has forgone in interest payments so really, you should stop whining on about SD and advertising because he may just call in that debt and reissue on the terms we had when the stadium was built, you’d soon start whining then.

          • Leazes Ender

            Goodison is not a similar venue

          • Oooh bobbi fleckman

            As far as advertising goes, it is. They pay for exposure, Goodison is on the TV screens around the world more often than SJP. Advertisers are not advertising to the folk in the ground, the advertising faces the TV cameras for a reason.

          • HarryHype59

            Can you explain why unlike WHU, debt levels at this club have not decreased? Ashley had had access to hundreds of millions of TV money since he took over, yet the debt levels are higher than they were under the old regime. Every time he contrives to get the club relegated he adds yet another 50 m to the notional debt.

          • Oooh bobbi fleckman

            Debt levels at WHU (West Ham you mean?). Their Debt has gone up from 2015 to 2016, I can’t say I’ve looked back much further. They appear to have more debt than us at the end of 2016.

            I take it they will have removed debt in this year because they were very lucky in able to sell a large property in an up and coming area of East London and being subsidised to move into a shared ownership scheme in the old Olympic park.

          • HarryHype59

            They had to be almost debt free to be allowed to move to the London Stadium. NUFC debt has remained at 129m despite the owner having access to seven years of EPL money.

          • Oooh bobbi fleckman

            They are not debt free according to their accounts, they have a higher debt than NUFC.

          • HarryHype59

            The figures you looked at are three years out of date. Even then debt levels were lower than NUFCs 129m. There is a link to prove this via a London Evening Standard article, but I cannot be bothered to cut and paste it.

          • Oooh bobbi fleckman

            No, this is from West Ham’s latest 2016 accounts:

            Bank Loan & od – £44m
            Loan from shareholders £49m
            Amounts owed to group £36m
            amounts owed to UK parent £23m
            Player transfer debt – £35m

            Now, I agree it perfectly possible for this debt to be cleared with the sale of Upton park land as they have moved into cheap rented accommodation but the filed accounts are the figures to go by

      • Jezza

        Not just free advertising. You have to wonder where all the transfer profits and television money have gone.

        • Oooh bobbi fleckman

          They are on the balance sheet under Debtors.

        • HarryHype59

          I ask the same question myself. West Ham have used the TV money to pay off their 100m plus debt. Ashley has ‘restructured ‘ NUFC debt to increase it to 129m. It is highly likely that he will add another 50m next year to offset the cost of yet another relegation.

          Newcastle will get around half a billion in the next four years from TV money if they avoid yet another relegation. That £170m debt will not decrease by a penny.

      • nevfur

        What I don’t understand about the free advertising for SD from a businessman like Ashley is that nowadays he only actually owns about half of SD so only benefits technically by half of that free advertising. Surely he would be better off charging SD for that advertising which he technically would only pay half of then benefit himself from receiving all of that payment as whole owner of NUFC

    • Leazes Ender

      Ashley hasn’t put a penny INTO the club, who have you been listening to?

      • Albert Stubbins

        its still more than the glazers have out into man ure and they’re doing not so bad?

  • Trevor Reaveley

    FFS. Something good actually happens and then you decide to make it a downer. Get another fkkn team.

    • Leazes Ender

      Has there…. has Charnley left or Fatboy had a heart attack?

  • TheFatController

    Mike Ashley is aware of the following:-
    – club worth more than his outlay and the debt combined – debt manageable
    – fans off his back, recognised manager in position renowned for not wasting transfer funds
    – tv money guaranteed if you stay in PL
    – players signed can be sold for higher fees very quickly e.g. Wijnaldum, or after a few years e.g. Sissoko

    And people questioning the motives of why he is allowing Rafa and Charnley to spend what they earn? Ashley likes money, he’s intending to speculate to accumulate – nothing has changed other than we’re going to be earning huge amounts and he’s clearly learned the investment of which is increasing the value of his asset both in terms of saleable amount and squad worth

  • Jimblag23

    Everyone can speculate and have conspiracy theories about covert meanings, but Rafa wouldn’t agree to a rubbish deal. Why would he?

    • Damon Horner

      Agreed. The media release was vague but I doubt Rafa would salivate at something that vague.

    • Leazes Ender

      £5m for tenth place

  • Andy Mac

    The consequence of this latest ambiguous press release from NUFC is that all sorts of figures are now being bandied about, through various media outlets, from £40m all the way to £100m. However bottom line is Rafa is happy so let him get on with it.

    • Oooh bobbi fleckman

      That’s the way to look at it.

      Imagine a press conference, Mike Ashley is hardly going to say “£140m is available for 3 players, those players are mr x,y & z.” Reporter: How many sugars do you have in your coffee Mr Ashley? “sorry that’s confidential”

      • Leazes Ender

        You’re making suppositions again Brian..

        • Oooh bobbi fleckman

          No, it was a funny joke, you should try it.

  • Jonathan Drape-Comyn

    Fans suggesting that people aren’t happy about Rafa staying are crazy… nobody is suggesting that and if you are then you are supporting the wrong team.

    However, for me, its going to take more than just a Championship title to forgive and forget about Mike Ashley’s misdemeanours

    • Damon Horner

      Nobody has forgiven and forgotten. You’re just as crazy to suggest that, however, if Ashley was to do right by the club then there is a way this could be the right moves and we’re attacking it because there is a possible assumed agenda. People are rightly reassured by Rafa’s presence and rightly so, it has nothing to do with any love for or against Ashley. Let’s see what happens first.

      • Jonathan Drape-Comyn

        totally right, lets see what happens. don’t think anyone is attacking it… more just a case of, ‘lets not get too excited here’

        • Damon Horner

          Most people aren’t attacking it really but the headline of this article sounds like it is.

          Anyone who loses their apprehension is naïve but equally we have the best manager in a while and he sees the ambition we are no privy too, that’s got to be reassuring.

  • Wor Lass

    I usually like your articles, Dean, and you`re right to be wary of the fat boy, but this seems a tad like equalising before the other side scores. He`s had the meeting that Rafa kept mentioning, both sides have come out of it saying they`re happy and Rafa is actively planning for next season. What more do you need?

  • Damon Horner

    Not sure exactly what some of us are wanting here? Making judgments and assumptions before a phone call had been made. For once just be a bit more patient.

  • Viru leckworth

    No one will know what was agreed behind closed doors. The statement put out to (or by) the press was put out to confuse. And rightly so. The club doesn’t want to release a statement saying that x millions are being made available thus upping the price of any targets. The fact that Rafa is happy should suffice for the present. I am not a huge fan of Ashley but think of this: what would happen to our club if he just washed his hands and walked?
    I think last season he tried to make things work, naively thinking the appointment of macca would be the answer. It wasn’t and most of us suspected so. This could be the dawning that works where the last one didn’t. And finally – better the devil you know.

    • Leazes Ender

      Any agreement with Ashley isn’t worth the paper its not written on….

      I’d rather not have a devil at all…. I’d have fan ownership.

      • Viru leckworth

        How much would you put into that ownership then?

        • Leazes Ender

          Long term deal added to the price of a ticket…. it doesn’t have to be Instant Brian

  • Paul Patterson

    With ‘fans’ like these, Rafa has his work cut out.
    Enough of the negativity.

    • Leazes Ender

      With fans like these Ashley has had an easy life

  • hetonmag

    Hands up anyone who doesn’t want Rafa to succeed so they can blame everything on Ashley and the Chronical, some people just have to pick holes in anything to do with NUFC it’s bad enough the press and so called pundits having a dig at us. Like Rafa says we all need to stick together.

    • Leazes Ender

      Chronicle…

      • hetonmag

        I preferred you when you were green, at least everyone knew then that you were on a different planet to anyone else.

        • Leazes Ender

          How many turqoise people do you know?

          • hetonmag

            A few (turquoise)

  • MadMag83

    To be honest I don’t get the mass hysteria over the transfer budget. Are fans expecting us to go out and spend huge sums on players? Surely the important thing is that whatever money is available is spent wisely, I’d rather we paid £12m for a Ritchie than a Cabella, or worst still £30m for a Sissoko!

    • Leazes Ender

      £12m for Richie….. thats too much for the likes of us what we need is an Ameobi for about £6m…. ‘thats our level’
      Rob Elliott

      • MadMag83

        £12m for Ritchie is actually looking like a bargain in the current market. Shola cost us nothing to be fair. The point is that we need to spend wisely, not buy players for resale value or because some dodgy agent is quids in. Add a few local youth players and you’ll have the basis of a team to be proud of.

        Pointless throwing money at mercenaries who are only interested in using us as a stepping stone.

  • SH.ER

    Rafa is staying & the average money promoted clubs spend is £40m & people
    are f*cking moaning..
    Keep your mouth SHUT & do your part ( support the team ) & let the people in charge worry about those things!!!!!

  • Al Devon

    No matter what there will always be some fans who will always be negative. Its all the old Ashley Out brigade who just cant seem to find it within themselves to let things go. He has said Rafa can have every penny through promotion, player sales and other means…i.e TV, Sponsorship and commercial revenue.

    Looking at players Rafa could sell.
    Krul -3m
    Lazaar 3m
    Hanley 3m
    Sels 2m
    Gamez 2m
    Gouffran 2m
    Diame 4m
    Colback 3m
    Murphy 200k
    Thauvin (done deal 10m)
    De Jong 3m
    Saivet 2m
    Total 37.2m approx.

    These are just guessed valuation but will be there or there abouts. There is also still payments coming in for several players including Sissoko, Wijnaldum, Townsend etc.

    Plus what was banked last summer from sales.

    Chances are with everything taken in to account Rafa is probably working with 100-150m this summer.

    He wouldnt stay otherwise

    • Oooh bobbi fleckman

      The Ashley out brigade seem very vociferous until it comes to putting their own money in as a consortium to buy him out. How many years has the NUST been going, how much have they raised and how many shares have they offered to buy????

      • Leazes Ender

        Why don’t you tell the good boys and girls why you called yourself bobbi fleckman….Brian?

        • Oooh bobbi fleckman

          Why don’t I tell the boys and girls why I called myself bobbi fleckman? Because the boys and girls didn’t ask, I suspect they don’t really care.

          • Leazes Ender

            I know why you did you effing troll

          • Oooh bobbi fleckman

            Ha, you know very little but as I explained my name to you yesterday, you may remember that far back.

            “Effing troll” irony is pretty ironic in your world.

          • Leazes Ender

            Where?

          • Oooh bobbi fleckman

            Where I explained my name? look on the “Football finance expert comes up with remarkable Newcastle United valuation”

    • HarryHype59

      The problem is that all of those would have to take a substantial pay cut in order to find another club. Failing that the club could pay them to leave but that will leave less money for Rafa to bring in EPL standard players. It just isn’t that easy to shift players on when the club is paying them so much. For example does anyone seriously believe another club will pay Saviet the €45000 euro a week he is on at Newcastle?

      • NUFCLX

        Maybe Spurs

        • Albert Stubbins

          spurs would offer 40 mill minimum!!

  • Jonathan Drape-Comyn

    What I am inferring from this thread is that for some fans, its ok for Mike Ashley to make a mockery of Newcastle Untied, a mockery of the city, lie to us, s**t on us, plaster Sports Direct all over the stadium, get us relegated twice, disrespect several NUFC legends, allow criminals and wastemen to run our club, change the name of the stadium, deny the chance for newcastle to ever really grow by buying land around the stadium (I am sure there is much much more)… AS LONG AS, after 10 years, he brings in a half decent manager and promises us all some money.

    sorry, but that for me is not good enough.

    • Hughie_Gallacher

      An ideal customer base, in fact, from Ashley’s point of view.
      You wouldn’t get that in any other business.

      • Wor Monga

        …Yeah, yet another 50,000 miserable faces going out the ground last Sunday after seeing yet more misery heaped onto us…

        …If I was you Hughie I’d go off to Chelsea like your namesake did all those years ago…

        …mind you it didn’t turn out that happily for him though…in the long run!!!

    • Wor Monga

      …He’s promised us all some money…has he?…that would be a first in the history of the club!!!

  • Wor Monga

    You can’t help yourself, can you Dean?…forensically examining the words that are handed out for public release then putting 2 and 2 together and making 5…did he mean that such and such is not included or that something else is…will Spurs repayment in stages mean this or that for Rafa’s kitty, and what exactly does ‘every last penny’ mean?…

    …Do you actually think that Rafa went into the meeting with his formulated plan only to be appeased with some ‘soft soap’ words when the man has dealt with some of the hardest owners in the football world, and will always find a top level club out there, in waiting?…

    …or do you think like ‘bluebottle’ (Leazes Ender) the resident ‘Toon Troll’ that he’s only here for an easy ride and to ‘con the punters’?… when there’s nobody loves winning a game more than he does nor works harder to make it happen…

    …We’ve all seen his approach in action this season, and that’s how our already promoted young team were still going after the Champions trophy… even til their last kick of the season!!!

  • dillon

    What happens to the parachute money now that we’re back up.?

    • only2ameobis

      gets redistributed between all other championship clubs I think

      • Albert Stubbins

        correct- according to talksport anyhow.

    • Mal

      We will have got the money for 1 year along with the other 2 relegated clubs. Obviously we no longer qualify. The 3 relegated clubs from the PL will now qualify. Those clubs who have received payments for 3 years will no longer qualify. I think that’s how it works.

      • HarryHype59

        The parachute money is around 70m over three years. So NUFC get a third of this for this year. That is why the talk of a 100m transfer fund next season is nonsense.

  • Mayor Vaughn

    Why don’t we just wait and see?

  • Mal

    What did you expect the statement to say? Obviously the club aren’t going to put figures in the statement and say exactly what ‘every last penny’ actually means – that may make the likes of the writer happier but it would be a pretty stupid thing to do. Why don’t we just trust Rafa to have got the assurances he was looking for and see how things go. Enjoy the fact we got promoted straight back and the supporters (well, the majority of them) and the club are pulling in the same direction. Bearing in mind where we were 12 months ago that in itself is a minor miracle.

  • HarryHype59

    This article does well to highlight the folly of buying players up front for the full fee, whilst accepting staggered payments for players we sell. The resulting cash flow problem is one reason why Ashley can increase his chokehold on the club by adding to the notional debt to himself.

    • Oooh bobbi fleckman

      It’s not a folly as cash is king for these clubs. So, when we rock up and pay on the nose, not only do we get a discounted price for the player, we’re also favoured by the selling club.

      If there is a willing lender in Mike Ashley, it makes no odds to NUFC as we’re not paying interest to MA, where is the issue?

      • HarryHype59

        A discounted price!! The club has got its fingers burnt on a series of players,e.g. Thauvin, Cabella, Riviere and Saviet have been complete flops and have lost Ashley millions. The latter two are still on the wage bill.

        The rare times the club makes a profit the fee is paid in stages, thus creating cash flow issues that limit transfer activity.

        • Oooh bobbi fleckman

          We can point to our fingers burning on some deals but we’ve not done badly as fold who quote a mysterious transfer surplus of £40m like to mention.

          Mike AShley has allowed NUFC to be cash rich, when we’re dealingwith clubs that are cash poor, that’s a great position to be in. Even those you say we were stung with, Only Riviere is proving to be a problem. Saivet is a decent player and it he comes back, I see him getting being a decent back up depending on who goes out the door.

          • HarryHype59

            You would argue black was white simply to avoid facing reality. The deals over the past few years e.g. Thauvin, Saivet and Riviere have cost your hero millions and ultimately led to yet another relegation. Ashley has been had by the agents, by paying inflated fees up front for players, many who were clearly not good enough.

            Have you actually seen Saivet play? He was shunted out of the door as neither McClaren or Rafa wanted him. He is BTW on €45k a week.

      • trouble

        we are paying interest to ma? he takes free advertisement worth 8 to 10 million a season. the club has made this clear numerous times!!

        • Oooh bobbi fleckman

          Worth £8-10m???? Where do you get that figure from? I compare with similar clubs, that figure is about £2-3m

  • Leicester Mag

    I’m a died in the wool cynic when it comes to Mr Biscuits but even I would struggle to see the conspiracy in that statement. If he fails to deliver Rafa will walk and we should hammer Ashley but is now the time for this?

  • Mike

    theres no
    one

    who is worth any money? cant get a 30m steal like last season. Colback Guffo mitro etc not worth a light

    • Mayor Vaughn

      I reckon we could pull in 30ish million for some of the dead wood maybe a bit more.
      10 million for Thauvin
      6-7 million for Mitro
      3-4 million for Colback
      3-4 million for Lazaar
      2-3 million for Murphy
      3-4 million for Diame
      2 million for Mbabu
      Release Gouffran and Big Vurn.

      • HarryHype59

        Wages are a massive problem regarding moving the ‘dead wood’ on. Mitro is on at least 60k a week. Very few clubs will be able or willing to match that. Ditto Saviet who is on a mind boggling €45k a week. I am afraid we are stuck with the deadwood.

        • HarryHype59

          Also Ashley accepts payment on the never never, whilst paying upfront for players brought in. It causes huge cash flow problems.

          • Geordiegiants

            I think that will swing in round abouts. We will have a ready steady money supply coming in with the way transfers are done.

          • HarryHype59

            The problem is, he has in the past preferred to pay the full fee upfront for incoming players. That worked well when we were paying relatively small fees for players at the end of their contracts. However as transfer costs have risen, this will create cash flow problems, especially as fees for Sissoko and Wynaldum are staggered. It is simple basic business logic but seems to confuse many on here.

  • Albert Stubbins

    This is getting a little bit sad now- I’M sure if Ashley came out with the statement-“look ive made some huge mistakes in the past and I accept that Ive been stupid for the last ten years- I aim to rectify this by investing serious amounts of money in the club and by standing 100% behind the manager”- some people would say- yea but what he really means is this- he hates the club the manager and the fans and has absolutely no intention of putting a penny into the club!! lol lol- lets move on as a club and a set of fans – this is getting nearly as tedious as our make up rivalry with Aston Villa!!!

    • Biggs Darklighter

      Not really, slight exaggeration there albert

    • Geordiegiants

      He does hate us all!

      • Albert Stubbins

        Yea I know and the earth is flat!!

        Sent from my Samsung device

        ——– Original message ——–

        • Geordiegiants

          Oh my goodness here’s a one with rose rose tinted specticals.

          • Albert Stubbins

            not at all- just an I.Q slightly higher than an amoeba!!

          • Geordiegiants

            You must be high if you think Jabba hasn’t been doing what he’s been doing to get back at the fans.

          • Albert Stubbins

            you’re not paranoid – you just think everyones out to get you? I’m sure Fat Mike has more pressing things on his mind than to spend his days thinking of cunning ways to get back at us to be fair. Seek help!!

          • Geordiegiants

            To be fair you are probably right these days. He does have more pressing things to be getting on with, now that everything thing is falling apart around him, financially, due to the negative press he has created in the way he controlled NUFC, the press the fans and his previous mangers. Keegan must be a liar and paranoid even though he proved in a court of law he wasn’t. I’m not paranoid I’m just not trusting of a proven liar.

          • Albert Stubbins

            Yes your right about keegan proving he was a lier and I take your point but it was all about saving money in the past and about surviving at all cost to keep the money rolling in. Rafa won’t put up with that so change us finally in the air in my opinion.

            Sent from my Samsung device

            ——– Original message ——–

  • Desree

    He did not talk about the cart and horse which has me worried

    • Albert Stubbins

      he was talking about Mitro when he mentioned cart horse the other season surely?

  • Thefootballerwhocouldfly

    Every last penny the club generates….. Hands up who trusts Ashley? In Rafa we trust but don’t believe a word Ashley says!

    • HarryHype59

      Some of the happy clappers on here do!

  • HarryHype59

    I don’t think some fans grasp the fiscal calamity of getting relegated for even one season. The reputed 75m parachute money is paid for …wait for it …over three years. So Benetiz will get 25m from that source. The profit from the sale of Wynaldum and Sissoko is staggered as L/Pool and Spurs are paying by installments. There is no way can Rafa be getting anywhere near the 100m transfer kitty reported in the tabloids.

  • Down Under Mag

    I think we need to be realistic. Making a surplus last summer gave the club some financial solid ground to stand on when relegated. The fiscal world of parachute payments and such is all very muddy water and not an easy read, BUT when you look at the facts it wouldn’t be hard to see that money having been swallowed up to keep the club afloat. I actually don’t have a problem with this.
    There is also the way we conduct transfer dealings that was revealed in this seasons accounts, whereby that even though NUFC pay all fees up front, they are still accepting staggered payments for outgoing players – that would most likely be the likes of Sissoko and Wijnaldum last summer. This means that just because some fans can work a calculator and add the fees up, it doesn’t lead straight to the profit being in the clubs accounts right then and there and in all likelihood we will see payments for these two come in this summer as well.
    I think fans need to be more realistic (not just here but in all clubs) about how the finances work – and we in particular need to give the manager and owner a chance to prove the club is doing the right thing this summer.

    • trouble

      fans need to be more realistic about how finances work?? well i think i am very realistic when i ask how the club can make a profit for the last 6 years running and in that time the debt to ashley has risen by over 40 million?

      • HarryHype59

        It is called creative accounting to off set tax liabilities within MASH holdings. Short is doing a similar thing at Blunderland.

        • Oooh bobbi fleckman

          No, it’s not

      • Mal

        I understand the cynicism but one of the problems in all of this is that ‘cash’ and ‘profit’ are not the same things. For example we buy a player for £10 million and give him a 5 year contract then it appears in the accounts as £2 million per year despite the fact we paid the £10 million up front. We sell Sissoko for £30 million and more or less all of this is profit and is included in that years accounts even though we might be receiving the money in instalments over a few years.

      • Oooh bobbi fleckman

        Debt to MA or MASH has not gone up £40m, I’m not sure where you get that from. Looking at the last 6 years of filed accounts at companies house show us with a Debt to MA of £139.8m in 2010 and the latest accounts 2016 show a debt to MA / MASH at £129m. The debt has gone down by £10m, this was the repayment of the loan MA made to the club when we got relegated.

        Hope that helps

      • Oooh bobbi fleckman

        But it’s not, the debt has not risen up to the last figures. Most would be aware that the club had to borrow this year as it would have made a loss, I doubt it’s an extra £40m

  • SAMTHECAT

    A season in the Championship probably costs 30m which Mike is not going to finance personally, he should but he wont, therefore the funds will be based on say finishing 10th next season, you can work out the TV-Ground-Sponsorship money for next season less staff wages less overheads=the transfer/players wage budget.
    Talk of 150m is a non-starter-50m+any sales more realistic.