Last month I read a really interesting theory as to what Mike Ashley was really up to in his multiple dealings with football clubs.

The theory was in a piece by respected writer Phil Mac Giolla Bhain, somebody who has published some excellent pieces on the Rangers mess and who has excellent sources that regularly come up trumps.

Phil Mac has also increasingly started to include the goings on under Ashley at Newcastle and in this piece below in January, he wrote the following;

One business analyst has been advancing the theory, and that is all it is, that big Mike (Ashley) just might have a cunning plan.

He believes that what Big Mike is about in Scotland is conducting a dry run in Scotland for something much bigger.

Here is the scenario that he put to me:

‘There are at least ten clubs in the English Championship that are financially struggling. If Ashley can move in and lend to them then he can separate the profitable bits of the operation from the loss making parts.

If he can disconnect the merchandising operation in a discrete entity then those profits will not disappear down the black club (hole?) in the club’s finances.

He could end up running the retail side of several clubs doing a kit deal and controlling the advertising space without actually owning any of these clubs.

That way he would not fall foul of the FA’s regulations.

Rangers might just be a way for him to test this out in Scotland to see if it works.’

All interesting stuff and then if we move to the present day, the minutes of a meeting between Rangers fans and Mike Ashley’s men Derek Llambias and Barry Leach has added more fuel to the fire.

The meeting took place last Wednesday (11 Feb) and those at the meeting were the Rangers Fans Board and representatives of the Scottish club including Llambias and Leach.

The Rangers Fans Board is the equivalent of the Newcastle Fans Forum and now they have published their minutes of that meeting which includes the following questions and answers.

As (Mike) Ashley is looking more and more likely to be in control of Rangers what is his short term plan and long term plan for Rangers? Can Mike Ashley or his representatives tell us his vision for the club?

Derek Llambias:

“We can’t speak for Mike Ashley. SD (Sports Direct) has a football priority going forward and affiliation with 5 different clubs: Oldham, Sheffield Wednesday, Portsmouth, Newcastle and Rangers.

“Their model is taking over as many retail operations in football clubs and putting them ‘into the SD machine’ for ongoing retail revenues. I believe they can help Rangers sell more shirts overseas than we could ever have done on our own.”

Barry Leach:

“I haven’t spoken to Mike Ashley since I left SD in September. Derek hasn’t spoken to him for longer than that, so we can’t speak to what his plans are.”

Quite embarrassing the way that Llambias and Leach are attempting to distance themselves from Mike Ashley, as though we are expected to believe that in the last six months while Llambias has been taken on by Rangers (3 November), confirmed as Chief Executive (19 December), and Leach appointed (5 January), there has really been no communication between them and Ashley???

Derek Llambias speaking so openly about the Mike Ashley model is very illuminating and whether the Sports Direct supremo will be happy to have his intentions put out in the open is doubtful.



  • No Brainer

    Is that all that was pertinent from that set of notes or is there other more positive side items within the minutes.

    Could it be shown that the retail side of things are delivering more profit now than before?

  • MikeAshleyLies

    No Brainer  Ashley is THE most successful sports retailer in the UK.  He has moved in on JJB, JD and the rest ruthlessly and is extending that to USC, Cruise etc.

    If he is besting all the other retail experts out there, then he must look at the 92 different league clubs running 92 separate retail operations without an ounce of his acumen and see them as rich pickings.

    Undoubtedly the retail arm of these clubs will become more profitable, but the cost in terms of quality and prestige not to mention the harsh terms clubs go into these agreements under, which benefit SD to a far greater degree than the club itself is something that has to be calculated.  that can’t be done while retail accounts are not published by football clubs.  They should be the more the likes of Ashley tries to separate them.

  • No Brainer

    MikeAshleyLies No Brainer
    By JD and JJB do you mean the operations run by directors like Whelan who colluded to fix prices of football shirts and kit at sky high prices and limit the where the stock of football clubs was sold? 
    By JD, JJB and by rest I think you include Allsport do you mean the companies who were fined hundreds of millions of pounds for their activities for their coercive robbing of the general public?
    By ruthlessly do you mean that he lowered the prices of such goods to still very favourable (to him) levels which meant more volume?

    As for the retail operations of football clubs that are under performing and often loss making in their operation, would it be sensible to out source that operation into one that makes a profit. 
    Is it sensible to uncouple the sponsorship of a shirt from the retail operation of replica shirt sales, training gear and general club branded merchandising?

    Can I ask

    If a current operation of a club is profitable to the tune of £1m as a contribution to the club/businesses profit and outsourcing that operation to spd (in your words “….THE most successful sports retailer in the UK………besting all the other retail experts out there” and that then delivers an increase in profit contribution to the club to the tune of £1.1m.

    Is that a benefit to the club or a negative to the club? That is having more money for football operations?

  • Paul Patterson

    Surely it’s now time for Adidas, Nike, etc to get their heads together and lower the prices of new seasons stuff in order to put pressure on Mike Ashley.
    Lets be fair, SD don’t sell up to date, quality stuff from top brands, it sells previous seasons/catalogues stock at really low prices. The big companies don’t want to give their new stuff to Ashley/SD.
    I personally don’t buy the rubbish from his stores as you end up looking like Jimmy Saville on his day off.
    Sadly there are plenty of people who will, and do.

  • supermacsnewname

    ” Britons on shortlist for one-way Mars One Project trip” – keep it quite, but I’ve put Ashley’s name down!

  • supermacsnewname

    Paul Patterson adidas & nike are vastly overpriced – I buy his kit at reasonable prices, it’s all some of us can afford, as are Tesco clothes & poundland  gear – I knock him for his football crimes not his shops or prices

  • MikeAshleyLies

    No Brainer MikeAshleyLies Quite a defensive response.  By ruthlessly I mean laying off staff in the hundreds, zero hours contracts, insolvency investigations and that sort of thing.

    Of course in your example it would be better for the club, but your example is hypothetical.  

    “IF” a current operation of a club is profitable to the tune of £1m as a contribution to the club/businesses profit and outsourcing that operation to sd delivers an increase in profit to £2m, of which SD take £1.5m and the club take £0.5m Is that a benefit to the club or a negative to the club?

    That’s why I say more transpareny is needed if clubs are having their retail arms lobbed off.  None of us have any idea where the likely profit increase is going.

  • MikeAshleyLies

    No Brainer Furthermore, if the deal is that the club profit is locked in at a higher set amount than previous profits, is it beneficial to the club to enter into that deal long terms as profits grow over time?

  • SGM

    MikeAshleyLies No Brainer  Staff are also in receipt of profit sharing payments, and zero hour contracts, suit a lot of people.

  • No Brainer

    MikeAshleyLies No Brainer Hold on a sec, it looks you like it both ways criticise for one thing and defend with another,  you wrote
    THE most successful sports retailer in the UK.  He has moved in on JJB, JD and the rest ruthlessly – 

    You do not do that by laying off staff and putting them on zero hours, they are the competition, you have no direct influence on there business decisions.

    By nature owners of football clubs tend to be reasonable successful business people, often though given the nature of big retail they tend not to be retailers, hence it makes sense to enter into such a deal.

    I would agree that if it was my business I would expect a +only contribution from current retail operation contribution, that is of course if current operation makes a profit at all which as many do not is the reason many want this deal. 
    Of course the service provider/expert could also insist on a sliding scale of contribution to the club based on the clubs performance on the pitch as a driver to the operation as an impact on performance.

    In the scenario that you describe i would suggest that that would be something no successful business person with a semblance of accounting acumen would enter into. Its possible but unlikely.
    As it is a truly negative for the club and its fans. I WOULD AGREE with you totally.

    As clubs themselves have a duty to announce their accounts and financial performance it is likely that a after a couple of years analysis we will be able to see and hold them all to account.

  • No Brainer

    SGM MikeAshleyLies No Brainer especially students six formers

  • Chemical Dave

    SGM MikeAshleyLies No Brainer

  • Chemical Dave

    No Brainer SGM MikeAshleyLies 
    Wow, what a great idea then eh ? I’ve yet to meet a single person happy to be on a zero hours contract yer weapons grade cretin.

  • Sickandtiredstill

    No Brainer MikeAshleyLies
    Here you go again, and again.
    The SD retailing model benefits only SD. For once, put some factual figures into your posts as to how that benefits NUFC in any shape or form instead of just peddling your own one sided propaganda. 
    As highlighted yesterday in another post, I clearly showed how RFC are not benefiting from the SD/RRL retail deal in any way. Indeed, it’s actually costing them money to be part of an arragement cobbled together with a Chairman intent on keeping himself and Easdale on the Board and assist Ashleys entrance into it.  
    The Ashley model is the same one he has applied all through his business dealings. Offer some much needed capital to struggling entities, by way of getting hands on valuable assets. In this case it’s football clubs retail operations. 
    Pompey, remember them? Administration. Rangers – financial meltdown. Ashley/SD – retail deals with both. Those are fact bonny lad.
    Just like a Wonga. When someone needs money badly enough they’ll sign anything.

  • Steve1221

    Chemical Dave No Brainer SGM MikeAshleyLies I wouldnt have made it through uni without zero hour contracts, they were ideal for me at the time.

  • Chemical Dave

    Steve1221 Chemical Dave No Brainer SGM MikeAshleyLies 
    here comes Ashley apologist steve again, what a surprise.

  • Sickandtiredstill

    Steve1221 Chemical Dave No Brainer SGM MikeAshleyLies 90% of SD employees are on zero hours. What percentage of those would you think Uni students make up?
    Small I would guess and that means the rest, with responsibilities, families etc don’t even have holiday or sick pay let alone a commitment to hours worked.

  • Steve1221

    Sickandtiredstill Having been in Sports Direct stores I would guess the vast majority would be students. Zero hour doesnt necessarily mean no holiday pay, I have no idea about SD but I’ve worked zero hour contracts where holidays are accrued based on hours worked.

  • Steve1221

    Chemical Dave I criticise Ashley in the majority of my posts, its Pardew I’m usually defensive about

  • Sickandtiredstill

    Steve1221 Sickandtiredstill Use that Uni education of your and try reading the news.
    Zero hours means exactly no holiday or sick pay. SD were sued because of it and now have to issue a re-drafted employment contract making that fact clear.

  • SGM MikeAshleyLies No Brainer Zero hour contracts do not suit a lot of people, that is Tory p r.

  • Steve1221

    Sickandtiredstill Steve1221 As I said, I’ve worked zero hour contracts where I did receive holiday pay, its easy to criticise zero hour contracts but there are a large number of people who do benefit from them if the employer is reasonable.

  • Sickandtiredstill

    Steve1221 Sickandtiredstill This isn’t a debate on anything other than SD and their business model.
    Clearly, having been sued, are still being sued and facing a Parliamentary hearing over the disgraceful USC fiasco, you have no clue about the subject matter.

  • Sickandtiredstill

    Anyone with a functioning brain out there needs simply asks themselves this –

    How many top/successful football clubs have retail deals with SD? Aye, absolutely none. The retailing genius of this model benefits only SD in return for minimal financial assistance when needed most.

  • Steve1221

    Sickandtiredstill Steve1221 No this is me responding to a comment saying “I’ve yet to meet a single person happy to be on a zero hours contract yer weapons grade cretin.” from someone who resorts to insults because he cant formulate an argument.
    I’m simply saying that the premise of zero hour contracts benefitted me like it does many other students, whether SD and Mike Ashley take advantage of the model is a different argument.

  • MikeAshleyLies

    No Brainer MikeAshleyLies  Not following a lot of what you write.

    I am not an idealogue.  I don’t ONLY criticise ASHLEY.  I judge each thing he does on it’s merits to NUFC.  So yes, I criticise for one thing and defend another.  It’s called being fair.

    I was complimenting him on his excellent retail business.  It’s something he can do better than almost anybody.  Any clubs should be delighted to benefitr from his experience if he came in to turn them around.

    The issue is not his ability to do that, it’s who benefits from it.  As he targets struggling clubs, the same as he does struggling shops, to drive down costs and strip out assetts we know his raison d’etre is expanding his retail empire, whatever the cost to his “victims” we’ve seen it time and again.

    The club has announced accounts for 7 years, but, to repeat, profit is not broken down by area, only revenue is.  Even then, commercial revenue include many other things apart from retail.  The retail side is a complete black hole in terms of publicly available information.  It will remain so however long he’s at the club.

  • Chemical Dave

    Steve1221 Sickandtiredstill 
    don’t cry lad, I was aiming the insult at ‘no brainer’ as I hate him.

  • Sickandtiredstill

    MikeAshleyLies No Brainer Exactly correct.
    There is no way of knowing if NUFC actually receives a penny from SD. The only thing we have to go off is his comment to the press in which he stated” the relationship significantly benefits SD and it’s shareholders”.

  • Steve1221

    Sickandtiredstill The clubs who do have retail agreements with SD were already struggling financially, whether they have benefitted or not we dont know. If the model does work we might see more stable clubs forming partnerships because even if he is an awful football club owner there is no argument that Ashley is a succesful retailer

  • Sickandtiredstill

    Steve1221 Sickandtiredstill Maybe it does, maybe it doesn’t. I can see how it could suit a student or a new immigrant.
    Would you look to work for an employer after Uni on a similar basis though?

  • No Brainer

    Sickandtiredstill Steve1221 Funny I would not really on Journo’s to inform on employment law. With regards to holiday pay, holiday pay has to be paid and based as a FTE however rather than in a normal contracted situation the pay is in arrears and needs to be built up, e.g. you won’t get any holiday pay if you take a week off the first week of the year.

    Sick pay is different you will receive statutory sick pay when you are sick if you are working and have paid the relevant stamp over the previous years regardless of number of hours per week you work.

    That is similar to many full time positions with contracted hours, where the policy has changed due to the number of people who took sickies for holiday. That is the case for many organisations both public sector and private.

    Should you wish to campaign against zero hours more vociferously and want to make a difference you can contact your local council they are now in practice by the following authorities in our region.
    Northumberland
    Newcastle
    North Tyneside
    Gateshead
    South Tyneside
    Sunderland
    Durham
    Yes every single one.

    Considering some of the roles that have been involved in these changes I will back you in your campaigning.

  • No Brainer

    devonbay SGM MikeAshleyLies No Brainer
    I agree they do not suit many people but do suit some in many situations as for tory PR they are heavily used by labour councils

  • No Brainer

    Chemical Dave Steve1221 Sickandtiredstill I Love you

  • No Brainer

    Chemical Dave No Brainer SGM MikeAshleyLies I am that is true, with intelligent management systems

  • Steve1221

    Sickandtiredstill Steve1221 No I wouldn’t, but my circumstances are different now.
    Just like while I was at uni I would prefer not to work for an employer where I was fixed to work a set number of hours.

  • MikeAshleyLies

    No Brainer MikeAshleyLies

    To pick up your £1m profit example and apply it to Rangers.

    We know that the deal for the loanleft “Sports Direct as 75 per cent owner of the club’s merchandise business, Rangers Retail.”

    So, in your example, where Rangers (hypothetically) made a £1m profit before, if the retail wing remained unchanged they would now achieve £0.25m and SD would get £0.75m

    What would they then need to do to get back to club profits being as they were?  They’d have to increase profits by 4 TIMES.

    That would mean rangers get £1m (as they were before) and SD would now be getting £3m.

    Is it beneficial to the club to see their profits sky rocket but all go into SD coffers?

  • No Brainer

    MikeAshleyLies No Brainer I think there is broad agreement in what we have both been saying then isn’t there?

  • MikeAshleyLies

    No Brainer MikeAshleyLies Apart from your assumption that it could very well be benefiting the club and my assumption that it only benefits SD, certainly to a far greater extent than NUFC.  See the figures I provide in my example above in response to your £1m hypothetical.

  • Sickandtiredstill

    MikeAshleyLies No Brainer RFC previously received 3 million a year (to run until 2016)  in the deal with JJB. 

    I posted this yesterday in reply to NoBrainer, which he agreed with. yet here we are thrashing over the same nonsense and his story telling which has no fact nor reason attached.

    The club’s accounts showed the company took in £7.6million last year – leaving a £1.61million dividend to be split between Rangers and Sports Direct.
    Rangers’ share was £821,000 but it also owes Sports Direct £833,000 as the result of “onerous leases on unprofitable stores entered into by a previous Rangers management team”.
    Now as part of the terms on Ashley’s loan deal, the club will hand over its dividend share to repay these debts – meaning that for every pound collected by its own retail company, Rangers lost 1.6p.
    The terms demanded by Ashley for bailing out the club will also see shirt sponsorship cash from season 2017-18 onwards “benefit” RRL – rather than the club itself – for the duration of the loan.

  • Sickandtiredstill

    No Brainer Sickandtiredstill Steve1221 In SD’s case I’ll rely on the court findings, thank you.

  • Brownale69

    So is any of the mega bucks paying the NUFC loan off ……….no thought not

  • supermacsnewname I’d already put down that fat piece of lard Eric Pickles for the Mars trip but he can go on the next one , Ashley it is!

  • Chemical Dave

    Steve1221 Sickandtiredstill 
    he’s a leech.

  • Sickandtiredstill

    Steve1221 Sickandtiredstill
    And that is exactly the point. Financially struggling.
    If you’re solvent and need a loan, mainstream lenders are at hand. If you are in a mess, you have to turn to the Wonga’s of this world. Otherwise known as Mike Ashley and the SD model of football club merchandising piracy.
    Why exactly do you think we can no longer ascertain from NUFC accounts what the deal means in revenue terms? Surely, if it is so beneficial he would like everyone to see that for themselves?
    The man is buying undue influence in football through these means.

  • Sickandtiredstill
  • pissed off mag

    who buys stuff from ashleys shops the stuff he sells are rags and tat, its like a big tramps jumble sale

  • Sickandtiredstill

    pissed off mag Some people just don’t want (or refuse) to know mate.

    The accounts also reveal that Rangers Retail has an obligation to purchase stock at a higher price than it is able to be sold at.
    “In the second half of the year covered by the accounts, it appears that the portion of profit due to the club is £2,000.
    “For comparative purposes, the much maligned JJB agreement, our previous retail deal, made the club a minimum of £4.8m a year over the term of the deal, over eight times the amount we are making from Sports Direct.
    “Crucially, it is also not clear whether the club has yet received a penny of the £590,000 it is due or whether it is still retained within Rangers Retail. Indeed, from inception it would appear that the club has only received £100,000 in dividends from the venture with Sports Direct.”

  • Greggy164

    We are meant to believe this pish,  they are playing with words. Probably true they havent spoken with Ashley but Im sure there must have been communication between them. They are also trying to make us believe that after leaving Newcastle, Llambias got the job at Rangers through merit. Trying to have us believe that Ashley wasnt involved in the appointment of these 2 arses onto the Rangers board. They would have us believe that it was an open and fair proccess and they were the best candidates for the positions.

    At the latest meeting between the RFB (fans board) and the board at Rangers Mr Llambias tried to play the no nonsence, hardman business type role. There was no trying to reach out to fans. I dont think he even tried to get fans onside. If thats how things are going to be then I would predict he will last 6 weeks up here. He is an old man. I would assume he is well off. He will now be a target anytime he is in Glasgow. How many times will he get his baws kicked before he realises its not working out for him?

  • Greggy164

    pissed off mag  Ashleys shops are like the man – cheap and nasty

  • No Brainer

    Sickandtiredstill No Brainer Steve1221 I agree and again back any campaign which holds to justice any comapny which is trying to circumnavigate the rules at the expense of staff.

  • Greggy164

    Paul Patterson  There was a time when Jimmy Saville was thought of as being cool lol

  • Greggy164

    No Brainer Chemical Dave Steve1221 Sickandtiredstill 
    Brains is that you at it again?

  • No Brainer

    MikeAshleyLies No Brainer Both hypothetical, lack of openness doesn’t mean whats actually going on is wrong immoral etc etc and vice versa of course. Independent analysts (yes deloitte aren’t always accurate we can all find examples so that) have when judging nufc against its peers stated
    “Newcastle United are commercially in the strongest position in their history”

    they consider this a major contributing factor.

     “Given the strong performance of the club coupled with the Toon Army’s continuing support in their impressive numbers”

    One key point many use to batter the club is the lower numbers of commercial revenue in past years, however you and i both know that the year people refer to as the one which nufc should be measured against is the one where nufc collected the sponsorship money off Northern Rock for nearly all of the sponsorship deal within the first year of that deal, effectively inflating that years commercial revenue.

    With that in mind should current performance be praised or at least welcomed as positive news?

    As for the assumptions, yes we both are assuming lets not mention the old adage of assuming.

    I do prefer to do the shouting based on the facts that are available.

  • No Brainer

    Sickandtiredstill No Brainer MikeAshleyLies Are you saying those entities should be left to die?
    Pompey, remember them? Administration. Rangers – financial meltdown. Ashley/SD – retail deals with both. Those are fact bonny lad. 

    You can add nufc to that list SJH was actively searching a buyer for this very reason. If somebody wants to talk as they need help they would normally talk to as many as possible to get the best solution if no one else is ointerested what does that tell you?

  • Sickandtiredstill

    No Brainer MikeAshleyLies No presumption here, it’s from the limited accounts produced –

    In the last season before Ashley arrived the Commercial revenue at Newcastle was £27.6m, After six years under Mike Ashley‘s ownership the Commercial revenue in the 2012/13 figures was £17.1m.  

    What makes it so much worse though is that EVERY other Premier League club has seen their commercial revenue go up.

    Pre Ashley, 04/05 27%, 05/06 32%, 06/07 32%

    Ashley-  11/12 15%

    Facts, figures produced by the club themselves.

  • Sickandtiredstill

    No Brainer Sickandtiredstill MikeAshleyLies

    In 2012/13, the Commercial revenue had increased to 17.1M and was still 15% of overall turnover but trends during the 7 years of the Ashley ownership are confusing for a merchandising guru who once said “Matchday and commercial revenue is a key driver because that is where the club can compete with – and outperform – its competitors to enhance its spending capabilities.”
    The reality of those 7 years is more famine than feast for Newcastle United who are the only EPL club to have seen their commercial revenue go down in that time frame. The numbers are stark, an approximate 30% drop whilst similar sized clubs have enjoyed large gains, Villa 114%, Sunderland 81%, Everton 59%.
    Stranger still when you have Dan Jones, partner in the Sports Business Group at Deloitte and the main man behind their ‘Football Rich List’ saying on BBC Radio…. “For the first time ever we’ve got most of the clubs on our list making more money from commercial sources than anywhere else.
    “Historically, matchday was always the biggest earner for clubs, then it was TV, now for these biggest clubs around the world it is commercial – which includes sponsorship, shirt sales, partnerships, licensing deals; basically everything that isn’t TV and tickets.”
    So where has it vanished to?

  • toon tony

    It’s a hard thing to do but stop buying replica shirts not just from SD.I’ve worn Toon shirts since I could afford to buy them myself going to games, on holiday etc. Now I only wear the old ones from the addidas days or TOFFS shirts. By buying the Puma shirts (funny how we both use them )you’re just giving in by giving the FCB what he wants. Gone are the days when you were buying our clubs merchandise you were actually helping the team you support.

  • No Brainer

    MikeAshleyLies No Brainer I agree all of that is true

    I worked for a company which had £316m worth of debt which we borrowed from a panel of pension trusts and banks.
    Before entering into an agreement (which was assured) we paid an £18m fee the loans themselves were then set at 15%p/a the deal duration was 4 years during which we had to pay £25m of capital back each year on top of interest.

    To be clear thats 

    £18m fee or £4.5m per year
    £47.4m of interest per year

    So in essence a commercially profitable company needing to borrow money is being charged 24% interest per year on the open markets, with that debt secured against assets.

    In the situation with Rangers the company has borrowed £10m I personally believe its more like a £5m rolling loan with set break and pay back periods. 

    Given the recent figures used on here of Rangers retail, the offshoot of a very very distressed asset that is Rangers FC with long liabilities and currently no early end to that situation. Does the interest rate of zero set against the loan to Rangers does that look like a pretty reasonable return to the lender in comparisson to the open market? 

    24% of £5m is £1.2m

    Further to that whilst the jury has to be out (it is this reason why i wish to end my ST with NUFC) the man has also dictated to his wholly owned football club that they lend players paid for by nufc to Rangers at absolutely zero cost to RFC. 
    Again if i was a rational Rangers fan would you not see that as beneficial to the club.

    That is something he should be held account/harangued for to by us!!!!!

    The alternative offered by D King of an equity offer seems like a good idea, however he has been unable to show where those funds would come from if anything is more dubious, then surely it is that which is the most cloak and dagger?

  • No Brainer

    Sickandtiredstill MikeAshleyLies No Brainer
    Are those stores shut? Yes I believe they are.
    Where the landlords paid, the minimum amount of the money they where owed by rangers retail in its previous guise?
    Were all of those stores rented from SPD? I don’t believe they all were
    Is rangers retail now making a profit?
    Is the company which Rangers where previously involved in still a ongoing entity?
    Did it make a series of horrendous commercial decisions which left it sinking like the ship on a mackem badge?

  • No Brainer

    Greggy164 He’s been there about two month already and i don’t think he is bothered by threats from the faceless on internet sites. Haway the hoops

  • Sickandtiredstill

    No Brainer MikeAshleyLies or you can look further into the facts. The Ashley deal was struck in mid 2012, not just a few months ago.

    The previous JJB deal returned 4.8 mil to RFC in its last year. far and above 1.2 mil at 24% and ceding your retail operation, brand and physical assets also.

    RFC were then denied access to funds in the RRL account (their ‘share) which thereby necessitated another deal being done – again with Ashley.

    Ashley loans a further 3 million, obtains 2 seats on the board and an option for 2 more. He then gets all of his money back via the new loan from SD. That first 5 million going to repay Ashley his 3 million, not keeping the club solvent.

    All information suggests the 5 loan players are being paid for out of that money. Thereby further draining resources and creating more dependancy on Ashley/SD.

    King did indeed prove he had funds, something you keep suggesting was not the case. All you do is repeat the Charles Greene statements, the very man who done the deals with Ashley.

    This whole saga throws light on the dubious practices of Ashley not just the bottom feeders intent on hanging onto their Board positions.

  • Sickandtiredstill

    No Brainer Sickandtiredstill MikeAshleyLies Who knows? All we have is the word of Llambias and the corrupt RFC Board to go off. Would you trust their statements?

    RFC is plainly not making a profit from it’s retail operation now. SD is.

  • No Brainer

    Sickandtiredstill No Brainer MikeAshleyLies You’re still neglecting the fact that this total includes monies which really belong to following seasons for the shirt sponsorship.

  • Sickandtiredstill

    No Brainer Greggy164 Is that why he’s crying in the ‘papers over fictitious threats?

  • No Brainer

    Sickandtiredstill No Brainer MikeAshleyLies Landlords have taken the lions share these legacy liabilities are whats killing the club (not least naff players on high long contracts)
    Can that really be blamed on folks recently appointed to the board.

    If anyone is making a mockery of the fans is it not the likes of the previous board McCoist who had a salary of £800K for a bottom division scottish FC some 34 times that of some of his competitors?

  • No Brainer

    Sickandtiredstill No Brainer MikeAshleyLies The £4.8million was all revenues was it not and the rent rates staff and stock cost came from that did they not?

  • No Brainer

    Sickandtiredstill MikeAshleyLies As for king

    A statement from King read: “We had private discussions with both (former chief executive) Graham Wallace and Sandy Easdale in which we told them that we would immediately provide proof of funding and details of the full make-up of the consortium following confirmation from Sandy Easdale that the shareholders whom he represents were prepared to support the terms of our investment proposal in principle. 
    “Sandy Easdale agreed to proceed on this basis. Unfortunately he was not then able to provide the confirmation we asked for. There was no possibility of proceeding any further without the support of Sandy Easdale’s group who had the power to block our proposed investment.”

  • No Brainer

    Sickandtiredstill No Brainer Greggy164 I don’t know, is he crying i have not heard him crying and i have not seen him quoted in any paper.

  • Sickandtiredstill

    No Brainer Sickandtiredstill MikeAshleyLies Reported as profit actually.

  • Sickandtiredstill

    No Brainer Sickandtiredstill MikeAshleyLies Indeed. Easdale didn’t pony up. He was too busy emailing SD telling them he’d rip up the retail agreement if they couldn’t assure the seats on the Board for himself and cronies.
    You choose strange sides of an argument to defend.

  • Sickandtiredstill

    No Brainer Sickandtiredstill Greggy164 Oh he’s been quoted a few times and made a complete liar of himself (again).
    But you keep following the party line why not.

  • Sickandtiredstill

    No Brainer Sickandtiredstill MikeAshleyLies Which total?

    You’re talking compete nonsense man. Are you suggesting it all appeared in one years accounts? I hope so.

    Then how do you explain that each years CRT is still hugely greater than since Ashley arrived?

  • Porciestreet

    These people couldn’t lie straight in a coffin. I wouldn’t trust anything any of them say even if I never heard another word.
    The fans of both Rangers and Newcastle have good cause to be very sceptical indeed….!

  • Porciestreet

    toon tony  
    Its the stripes that stand out. buy either a Notts county or Juventus top or as I have done a PAOK shirt of Greece.As much as I detest this Nikey Mikey era, I will always wear black and white stripes even without the badge. (and besides, theres no wonga on it)

  • Porciestreet

    No Brainer Greggy164 
    Ho HO,…another Celtic fan..!

  • v0ices

    No Brainer more profit for greedy ashley

  • v0ices

    SGM MikeAshleyLies No Brainer the same ones who have a law suit pending about how they received no profit share?

  • Porciestreet

    supermacsnewname 
    Should siut fatty then, just like St James’s, Nee atmosphere.

  • Porciestreet

    Paul Patterson The only thing Ive ever bought from fatty’s is socks cos I can keep them covered up…!

  • v0ices

    No Brainer Sickandtiredstill MikeAshleyLies sjh wanted to cash out of the club due to financial issues in other areas mostly due to his numpty son. If the club had been struggling would Shepard have been increasing his stake at every opportunity once again rewriting history.

  • Porciestreet

    Steve1221 Sickandtiredstill A very reasoned point mate.We shouldn’t be going round calling eachother W*****s,as there’s enough on here already.

  • Toonbadger

    BULLS HIT

  • Maximus Moose

    They`re all a bunch of Fooking Knaves

  • newcastle7

    Ashley is a very fair man and makes football affordable for the working man and their families.Who would want to support Man City when kids get charged thirty pounds to get in or Liverpool where our adult price in April will be nerly sixty pounds these clubs should be shut down a disgrace.Thanks Mike for making it affordable.

  • hettonmag

    newcastle7  Your last sentence is a bit short,  why didn’t you carry on and say and i am satisfied with the crap served up  on the pitch thanks again Mike.

  • toontom68

    newcastle7 Is this sarcasm? It must be sarcasm. No one could be that dense as to actually think that. The pricing structure at NUFC is based on the basics of supply and demand. Nothing else.

  • toontom68

    Porciestreet toon tony ToFFS mate,go to ToFFs.

  • Sickandtiredstill

    newcastle7 Thanks, Mike, for choosing Wonga as our sponsor. They love the working man and families too. So much in fact they got fined 2.6 million for sending out fake legal letters to their ‘customers’. 
    No wonder this parasite gets away with so much when moronic thoughts and comments like yours exist.

  • davieb82

    elaine_allison ShareThis was looking forward to reading that but as soon as ill Phil was referred to as respected I stopped reading .

  • zhorze

    elaine_allison ShareThis Offer long Term Debt ( Keep it Constant ) Extract Revenues . Loot more by providing Services (SD)

  • zhorze

    elaine_allison ShareThis Its sad the FA does not care about financial structures kept in place to ruin clubs

  • elaine_allison

    davieb82 ShareThis I so hope the board gets voted off ashley will lose his grip #slightly

  • elaine_allison

    zhorze ShareThis FA I agree

  • davieb82

    elaine_allison ShareThis it’s imperative they do. Fans won’t go back if they remain. I think Ashley wants us to default on the loan so he

  • davieb82

    elaine_allison ShareThis gets ownership of out assets. Did u see how much rangers retail made last year ?

  • elaine_allison

    davieb82 ShareThis no how much? I read that if ranger spend some money lent to them by ashley he will be given dividends

  • davieb82

    elaine_allison ShareThis rangers retail made £9.2m and rfc got £100k .the rest went to sports direct. Absolute disgrace.

  • elaine_allison

    davieb82 ShareThis thats disgusting!!!!

  • Peter Moustachley

    I’d rather pay more to watch a real game of football at SJP. I tense up with hate and rage when I think about Mike Ashley. He is killing the sport and creating the largest business conference ever seen. 52k every fortnight

  • Chemical Dave

    newcastle7 
    erm, excuse me but do you know who you’re talking to ? newcastle7 is only one of the TOP TWENTY fans of NUFC no less ! Just ring the club and ask them, they’ll confirm it. Don’t forget though, he used to post as ‘Simon Carr’ before being exposed as one of a number of ‘fans’ who also worked for the fat leeches communications department.

  • Chemical Dave

    No Brainer Sickandtiredstill Greggy164 
    how convenient eh soft length ?

  • Chemical Dave

    Peter Moustachley 
    when Keegan and Robson provided exciting sides, ever hear anyone grumble about ticket prices ? Maybe, not something that comes into my mind when I look back though. So aye, fully agree Peter.

  • Chemical Dave

    Sickandtiredstill newcastle7 
    he’s a fraud mate, reminds me of that Donal Macinstyre documentary where he infiltrated the Chelsea headhunters. Had to do months of research into Chelsea’s history. Alas, newcastle7 or Simon Carr as he used to be known, was unaware that the East stand could not be extended.

  • Sickandtiredstill

    Chemical Dave Sickandtiredstill newcastle7 Hahaha, classic!

  • Sickandtiredstill

    Chemical Dave newcastle7 That would be most excellent. Just shows what a moronic bunch of cretins work there now. I hope he tells his fat owner what we think of him!

  • toon tony

    U0001f514end.

  • No Brainer

    Na not really but it helps wind the huns up this is a toon site not a rangers site

  • No Brainer

    Stunned that your realky a blue nose after all these years of working with you never knew that oh noooooo

  • Greggy164

    No Brainer MikeAshleyLies 
    No Brains I reckon its you that likes it both ways ya belter

  • Greggy164

    Sickandtiredstill No Brainer MikeAshleyLies  There needs to be a forensic examination into the dealings at Rangers. There has been loads who have came and went. Most of them away with a pile. Thanks for coming

  • Greggy164

    Sickandtiredstill No Brainer MikeAshleyLies 

    Brains

    I would take any statement you read, any finances and most things to do with Rangers with a pinch of salt.

    It would become a full time job if you were to try and keep up with all this pish. Loads of propaganda. Statements posted on  club website that have been known to be wrong. They have broken many rules regarding AIM/LSE. Claim – counterclaim

    There are very few people who know the true facts at Rangers. Anyone who does will not be talking in public. There is an ongoing police investigation into the dealings at the club. Craig White was extradited from South America to attend court in UK.