Mike Ashley has taken a very hands-off approach with Newcastle United for some time, at least visibly anyway.

The last time he was sighted at St James Park was the opening day of the 2017/18 Premier League season, when Spurs won 2-0.

However, he and his people are clearly busy behind the scenes, with a Mike Ashley statement released after the final whistle of the Chelsea match, whilst Ashley chose too put up Lee Charnley for his first interview in three and a half years.

Although even that was closely controlled, with journalists banned from asking questions on most topics, Charnley tasked with pushing the Mike Ashley line on the recently made public 2016/17 Newcastle United accounts.

Those Championship season accounts were put forward in such an over the top way by the club, that they have attracted more scrutiny than normal by various very good football finance analysts.

With the full 2016/17 Newcastle United Accounts able to be seen online at Companies House, football finance expert Kieran Maguire was one of those to go over the accounts in very fine detail.

Kiaran Maguire lectures in football finance at Liverpool University and also has his own Price Of Football website, he has now spotted a very interesting previously unhighlighted detail.

Back in the 2014/15 NUFC Accounts, the club was committed to paying at least £713,000 in future minimum lease payments under non-cancellable operating leases.

The latest accounts now showing that figure has grown to a massive £55,476,000, as Kieran Maguire says, it would be ‘interesting to find who is the landlord’ that the £55m+ is due to, money that the club is committed to paying in future years, no matter who owns it…

Kieran Maguire:

“One final mystery on the Newcastle United accounts is in relation to rent they appear to be paying for some land.

“Rent cost was £630,000 last year and it’s a non-cancellable agreement costing the club a further £55 million in future years.

“Be interesting to find who is the landlord…

“If I was a possible new owner and being asked to pay £400 million PLUS have this commitment for another 90 years I might take the advice of the #SistersOfMercy and ‘Walk Away’.”

Extract from 2016/17 Newcastle United Accounts:

Commitments under operating leases:

At 30 June 2017 the Group had future minimum lease payments under non-cancellable operating leases as follows:

Land and Buildings

Not later than one year £663,000

Between one and five years  £2,599,000

After five years £52,214,000

Total £55,476,000



  • JonMag

    he`s a [email protected]@king Rat & nobody will buy the club, he needs to be driven out by all means possible

    • Dont stop bobbi fleckman

      Do you know what this is for?

      • Jate Legend

        Haweh then explain

        • JonMag

          he can`t Ashley`s paying himself the money to sap Newcastle dry

          • The Postman

            As far as I am aware the land that SJP is built on is owned by the City council and is leased to whoever is the owner of NUFC by both the council and the Freemen of the city.
            NUFC can be sold but the land can not

          • MichaelMaximusMoose

            Exactly, he`s paying the council then charging £55m rent over the years to go into his bank account from income of Nufc

          • Geordiegiants

            That is exactly it. 👍

        • Dont stop bobbi fleckman

          Me or JonMag? I’ve not jumped to conclusions, that’s why I asked. Click bait Kieron hasn’t explained but JonMag seems to know, hence the question.

          • Jate Legend

            Ah right I thought you had an answer, sorry. Wey the obvious conspiracy angle is he has somehow set it up so that the rent the club is going to pay on something is going to increase exponentially in a few years, and he owns whatever it is and is going to jack the rent, although no idea how that actually works.

          • MichaelMaximusMoose

            He never has an answer he just waffles away

          • Dont stop bobbi fleckman

            I suspect it’s simply the lease for St James Park, FRS require desclosure if the full term.

      • JonMag

        his [email protected]@king bank account

        • Dont stop bobbi fleckman

          Really? that would be in the related parties note. It’s not.

  • relaxed

    W.T.F. ?

  • Dillon Tovak

    I wouldn’t be surprised if he’d purchased the land personally and making Newcastle pay him rent for the rest of history.
    He should be locked up.
    I’m so confused as to why he is still in business, I’d be relaxing on a yacht 365 days a year enjoying life.

    • Dont stop bobbi fleckman

      It would be noted in the accounts if that were the case.

      • Ram Kishore

        What’s the article about ..I don’t understand

    • Alex

      Re your last point – I’ve thought this for a while.

      He’s 54, with, say, max only 25 years left. And, nigh on £4bn in his name. He’s a complete moron for not sitting back, having fun for his remaining years……and becoming a legend with NUFC.

      • Dillon Tovak

        100% agree, with that much money even an ugly guy such as himself could probably spend the rest of his days getting relieved from attractive females from now until death.

    • JonMag

      it`s all about power & [email protected]@king people about

    • Rich Lawson

      Like Philip Green !

  • Big Hairy Man

    I would hazard a guess that the landlord is Fatso.

    • Alex

      Don’t you think that’s a very wild stab in the dark???

  • Alex

    Taking the 1st figure as ‘ball park’, (and, as long as payment increases over a period aren’t in clauses) it looks around £660Kpa for the next 78 years. Which would make it 90 years from when Fatty bought the club.

    WTF could this be? The only good thing is that he’ll be well-dead before the lease finishes.

  • mactoon

    As far as I knew the ground was the only leasehold asset the club had having sold off the land at Strawberry Place (to Ashley!)

    Do we own the training grounds at Darsley Park and Little Benton?

    • Leazes.

      Spot on the land of SJP is leasehold….. he’s built housing on Half of Darsley Park which was owned by the club which he sold to himself…. so its not that.

  • Leazes.

    There’s nothing straightforward in the accounts is there?
    Howay then Fleckman this is your special thing…… what is it for?

    Lets put you to some bloody use?

    • JonMag

      I`ve just blocked him, can`t stand the guy & his excuses for Ashley

      • Leazes.

        He says he’s an accountant but I haven’t seen analysis from a straightforward question…. I’ll unblock him if he can solve the riddle of this one!

        • MichaelMaximusMoose

          😂😂😂😂

  • panther

    Constant stitch ups till he sells up or hopefully dies

    • Ba ba.

      Death hopefully

      • Geordiegiants

        Not too quickly.

  • Leazes.

    Lets have a look at Mike Ashley Property Ltd then!

    Companies House Beta….. dum de dum….

    • Alex

      Looked already. There’s more going through my back pocket than that business! It’s not there.

      • MichaelMaximusMoose

        You`ll have more luck with Kermit the Frog.
        It`s in the wind, never to be seen again

      • Leazes.

        MM Prop Consultancy Ltd
        MASH SERVICES LIMITED (09605123)
        MCGROVE DEVELOPMENTS LIMITED (09061357)
        CENTRAL LONDON PROJECTS LTD (09060314)
        M COMMODITIES LIMITED (07962957)
        T&M LEISURE READING LTD (09575848) (Not this one)

        • MichaelMaximusMoose

          Needle in a Haystack

          • Leazes.

            I’ve discovered Justin Barnes

          • MichaelMaximusMoose

            In a dark room i`d guess, i think the Fat Guy`s milking the club dry, one way or another

          • Leazes.

            newco no.1 LIMITED

            Barnes along with Ashleys daughters boyfriend Michael Patrick Murray have taken over Strawberry Place.

          • MichaelMaximusMoose

            a right Motley crew

          • Leazes.

            Everyone wanted to know what Justin Baines role was at United…. he’s a property developer.from Reigate Surrey

          • Wezza147

            Unbelievable. So basicly more proof this club is being milked dry. They’re all laughing as well. Insane.

          • Guest 2

            Director of SJH also…

          • Leazes.

            Thank you….they’ve just put out the accounts for that bit of land they stole from us.

        • Jate Legend

          OK good spot but what does this mean for the mystery of the 55m bar?

          • Leazes.

            see above

  • robbersdog

    Oh dear, I’m not surprised no-one wants to buy NUFC; as soon as they get stuck into due diligence, they find the mortgage from hell. If Mike Ashley is the ‘payee’, it means he’s f*cked us over for eternity!

    • MichaelMaximusMoose

      He`s a quite odious human being along with his Minions

  • MichaelMaximusMoose

    A lucky guess would be that Mash Holdings will get the money or
    Save the Children fund, i`ll let you make your own mind up on that 1

  • MichaelMaximusMoose

    Right i`m off to watch Mitro

  • MichaelMaximusMoose

    Fulham 1-0

    • Leazes.

      No

      • MichaelMaximusMoose

        Yes, half time

  • Chris Gardner

    It’s the Newcastle City Council who own the land, at least they did in the Gordon Mkeag days. I’ve never heard anything about it changing hands

    • The Postman

      You are right Chris, it is the Council and it cant change hands. Ashley pays rent to the council and the Freemen of the City.

      • MichaelMaximusMoose

        then sells it on to himself for a vast profit

      • Jate Legend

        So the council have told Ashley they are putting the rent up, basically.

        • The Postman

          I guess so, but who can blame them. We should be thankful he does not own the land or there would be students flats or a Tesco on there now

  • Wor Lass

    This is a classic example of the “smoke and mirrors” which are always there to obscure the true purpose of every financial deision made around our club – to make fatty even more money. Nothing can be trusted at face value and every detail has to be debated over because it`s always shadily hiding the ultimate destination of our dosh! I will now sit back and wait for Clark to come on and tell me I`m stupid, maybe call me a flat earther and then tell himself how he wiped the floor with me. Poor lad.

    • MichaelMaximusMoose

      1 thing is for sure no matter the amount it`ll end up with the Obese One

  • Guest 2

    Whatever it is, it materialised in 2015. Land & Buildings (non-cancellable operating leases) £724,000 in 2015 accounts.
    2016 accounts shows £54 million for the same…

    • Leazes.

      Does it say ‘land’ leases? because there are other kinds apparently.

      • Guest 2

        Land & buildings…

        Under the, Notes to the Financial Statements (2.5) p17. it says “Leased assets——All other leases are operating leases, the rentals on which are charged to… comprehensive income on a straight-line basis over the lease term.”

        I reckon your thoughts may well be correct – otherwise we are renting £54 million of land and buildings which don’t appear in any accounts. my only thought is that it times in with when he said the club was up for sale, so maybe it’s something to do with that from an accounting perspective?

        • Leazes.

          If I was a prospective buyer I’d look closely at what you were buying because the marketing is inside SD, the advertising is given away and its a club now without its own stadium.

          Ashley’s revenge on Hall complete….. there’s nowt left…..he’s stripped the lot.

  • TheNutJob

    Fulham promoted

    • HarryHype59

      The Phat One will be slobbering over the £20m he could get for Mittro.

      • TheNutJob

        to true he will

    • Leazes.

      Does life get any bloody better?

      • TheNutJob

        No, cause Real may win and make your day
        😂😂😂😂

        • Leazes.

          Salah out with shoulder injury…. that’s the sort of thing that would happen to us….they’ll just have to make do with that nacker Lallana.

          • Rich Lawson

            Ramos should get a retrospective ban for that.

  • Leazes.

    He must have sold Darsley Park and is renting it back from himself at an exorbitant rate? What else is there?

    • TheNutJob

      told you he was a bad, bad man
      👺👺

  • Leazes.

    He must have sold Darsley Park and is renting it back from himself at an exorbitant rate….no…. What else is there? apart from the Stadium itself….. oh holy hell… that’s got to be it….

    He’s taken something substantial here…. its SJP and has leased it to himself long term!

    • mactoon

      Newcastle City Council wouldn’t sell St James park

      • TheNutJob

        Fatty`s got the lease though

      • Guest 2

        Doesn’t need to. If fatty owns the lease then he can charge the club whatever he wants, regardless of what he has to pay the Council.

      • Leazes.

        Seperate the two things…. the Stadium….. and the land….. he’s renting the building to the club so supporters have somewhere to sit which is nice of him!

      • Dont stop bobbi fleckman

        I’ve always thought they should sell the club the site. They moan on about cuts, the club could get it cheap.

    • Guest 2

      Darsley Park training ground, Academy, and first team facilities were used as security for his Dec ’16 loan of £33 million.

      • Leazes.

        Read on…. it has to be SJP that he’s taken… it makes sense now….. the very thing that he had to pay extra for when he bought the club!

        • Guest 2

          Could be, mate. Then again, £54 million over the remaining 105 years of the lease could be why that has appeared? Just a thought – as it was added when he said the club was for sale. Maybe he just put the lease payment into the clubs name from wherever it was?

          • Leazes.

            No its the figure he was owed for the ground isn’t it….. I seem to remember a figure just short of £60m….

            …..He’s stripped the club of its own ground hasn’t he!

            Its all it can be!

          • Guest 2

            The fat [email protected] mortgaged the ground after relegation 1, but the charges say that it was cleared afterwards

    • Hankandjerk

      Fleckman and monkseaton chippy are strangely quiet on this thread.

      • Leazes.

        He’s invited to comment

  • mactoon

    St James is on a 999 year long lease from Newcastle City Council so it’s not that.

    • Leazes.

      The land is …….not the stadium…. he’s bloody well taken the stadium and leased it back!

      • Geordiegiants

        Definetly.

        • Dont stop bobbi fleckman

          Not

          • Geordiegiants

            Why so defensive? It’s going somewhere Bobbi.

          • Dont stop bobbi fleckman

            Not defensive, just correcting the lying tuppance that is Leazes’. It’s simply the way leases are shown, the club has a very long lease hence the long committment.

          • Dont stop bobbi fleckman

            Looks like the council gets it. Now, I’m sad by that, they will only waste it on non-jobs for the willing unemployable but hey, I didn’t vote for them.

          • Geordiegiants

            I do agree Labour waste out money, but the rest no.

      • TheNutJob

        😂😂😂😂
        what a crook

        • Dont stop bobbi fleckman

          Who, Leazes’? Just a liar mate.

      • Dont stop bobbi fleckman

        No he hasnt. Stop lying

    • Guest 2

      125 years, as of 1998

    • Leazes.

      The land is

  • Leicester Mag

    Stunning in their silence are local councillors and MPs. At a minimum an explanation is due, they can demand it. Seriously though when will people what he represents ?

    • Leazes.

      Nowt to do with local councillors…. its not the land…… its the building on it he’s leasing back to the club!

      • Dont stop bobbi fleckman

        No he’s not, stop lying you sad piece of poo

        • Jimmy_toons

          Appears Leazes is right. If you know different or can suggest an alternative to what that £55m is and who it’s owed to, I’m willing to listen.

          • Dont stop bobbi fleckman

            He’s not right at all.

          • Jimmy_toons

            Ok he’s a very naughty boy. Can you explain what this money is for?

          • Leazes.

            Me too…. I’ll unblock him for say a month if its a doozy!

  • Guest 2

    I’m no accountant so most of this is double Dutch to me. However, financial regulations changed with FRS 102, after Jan 1st 2015. They are referred to in the accounts, p.17, 2.16. – “The Company has taken advantage of the optional exemption available on transition to FRS 102 which allows lease incentives on leases entered into before the date of transition…to continue to be charged over the period to the first market rent review rather than the term of the lease”.

    An explanation I found elsewhere states –

    “When a lease containing an incentive clause is already in place at the date of transition to FRS 102, the entity can choose, on a lease by lease basis, whether to retain its existing allocation over the period to the rent review, or restate its figures to spread the incentive over the entire lease period. The choice could have a significant impact on reported earnings, and has knock-on implications for tax and distributable profits. Therefore this warrants careful consideration.”

    • Leazes.

      That Sounds like the mechanism for what he’s done… he always held that on the books as debt rather than amortisation to the next owner, it was there for no particular reason other than to convince the gullible journalists of the need for frugality as he downsized the club hiding behind relegations and double dutch bookkeeping.

      • Guest 2

        I think what it means, as my tiny mind grasps it, is that he has put the whole lease amount onto the books so any incentives can be spread over the whole life of the lease. Clearly it will benefit him in some way or another.

        • Leazes.

          To my tiny mind he’s downsized the club again and we are now paying fees for the privilege of playing football at SJP…. without owning it, and you are right about who benefits.

  • GlasgowMag

    Sounds like a classic case of Asset stripping why has no journalist picked this up!! So who basically now owns the stadium, when was it sold and to who!!

    • Leazes.

      Really… the Chronicle? To be fair they have emailed Charnley asking him about Justin Barnes role at the club….

      …. He’s an asset stripper you’re right!

      Or if you are an accountant he simply assuring the club of its maximum short term benefit…. oh boy!

    • Dont stop bobbi fleckman

      The club own the stadium. It pays a rent to the council for the lease.

      • GlasgowMag

        Yip get that so why are they paying a lease rental if they own the asset!!

        • Dont stop bobbi fleckman

          We pay the council for the land.

          • GlasgowMag

            So the 55million is an increase from the council nope I don’t think so where is the rest of the money going and for what!!

          • Dont stop bobbi fleckman

            Rest of what money? The lease is a long lease, hence the payment is reported over the total term of the lease.

          • GlasgowMag

            Your a funny guy😂😂😂so our current owner who allegedly wants to sell up has signed up to a liability of a lease agreement with the council lasting over a 50 year period!!!

          • Dont stop bobbi fleckman

            It was in place since 1998 I believe. Personally, I’d be offering the council to buy the land.

          • GlasgowMag

            I would imagine he has already tried to buy the land but thank god for the council otherwise our stadium would now be an SD set of flats!! So back to the point if this lease was put in place back in 1998 why is the additional 50 plus millions mentioned in this set off accounts but are not mentioned in the previous Club accounts!!

          • Dont stop bobbi fleckman

            FRS changed

          • FatParosite

            Fleckman is a Bishop minimum wage crony. You’re wasting your typing fingers.

          • Leazes.

            haha

        • Dont stop bobbi fleckman

          We’ve never owned the land.

    • Leazes.

      Ashley is the owner.

  • Wezza147

    Just when you think MA cant get any more greedy… this is personal now. Spite.

    • Dont stop bobbi fleckman

      Do you know what it’s in relation to?

      If you don’t, why make stupid Rach comments.

      • Geordiegiants

        You don’t know Bobbi, but still you keep commenting.

      • Andy Mac

        That;ll be Rash then ? You know like a rash that covers the whole of this club from head to toe metaphorically speaking

        • Geordiegiants

          Jabba is more like a cancer than a rash.

    • JonMag

      He`s asset stripping the club year on year, let`s hope nothing good happens to the fat c nut

  • Jimmy_toons

    This is why fact is stranger than fiction, as no one could make it up. Not even George Orwell.
    More and more like something out of the USSR in the 60’s and 70s. Ran by a dictatorship where publicity comes from the Bishopburo, and the media churn out what is given to them adfornitum, without question or reasoning. You can bet there is more if someone dug deeper, and it’s like Alien where it’s growing from within, taking over and growing into everything, with the feeling there is nothing you can do about it. Apart from to stop going.
    Our club is greater than the players on the pitch and the disease that is spreading within it. We need to cut off what is supplying the fuel to the disease, that is us the fans. Even realise now that what Benitez is doing by keeping us up is supplying Ashley with more and more what keeps him here. Only 2 answers to be honest: follow Sunderland so the FCB disease has to cut his losses and go, or be taken over by a Middle Eastern country who can give him so much that he walks off with a huge sum.
    John Hall, what did you do?

    • Leazes.

      The regime have stuck a ‘Trophy Manager’ in the shop window in the hope that nobody noticed the stock being loaded into a van out the back.

      • Jimmy_toons

        Too very true. Apart from a few exceptions like yourself, most of us have been sleep walking into Ashley’s winterland….and 50,000 are signing up to continue to do so. I understand him to be a greedy fat foiker but to asset strip the club inside out, is personal.
        You know he’ll take the lightbulbs and door handles if he ever leaves

        • Leazes.

          Thank you miss

        • Dont stop bobbi fleckman

          It’s utter nonsensical clsptrap. We now have a sensible recruitment policy and sustainable model. We’ve had problems on the way but enjoy it.

          • Jimmy_toons

            You think he’ll leave the lightbulbs then?

    • Andy Mac

      Took the money and ran !

    • KRS1

      Brilliant comment, sums up perfectly where we are.

      • Geordiegiants

        Apart from watching the scum. 😀

  • the tea lady

    The club pay the council for the lease on the land, not the lease on the stadium, that could be the loophole used to siphon funds from the club, that is legally obfuscated by a paper-chain of company’s.

    • Leazes.

      Seems that whoever owns the club in the future won’t own the stadium, or half of Darsley Park or Strawberry Place….or the stadium advertising, or the merchandising, or the club shops because they’re gone.

      • Andy Mac

        Unless they buy it from from Del Boy ? With money in a brown envelope with no direct link (tax wise) to the owner ? Shtum !

  • Leazes.

    Isn’t it about time Simon van der Velde tried to bury this behind an article on ‘Rafa in for £12.6m ace? I’m just looking out to see which name he puts forward.

    • Rich Lawson

      Barry Foster ?

  • Andy Mac

    Some well known apologists on this site scratching their brains trying to come up with a plausible answer to this ?

    • Leazes.

      Well Fleckman has won…. I’d say its game over now, I concede defeat….. there’s nothing left except Rafa and some flags.

  • Christopher Johnston

    Just been looking into this a little. This lease deal appears to be for the land behind the Gallowgate that Ashley owns and has plans to build student housing on. This land was owned by the previous owners of the club and Ashley claimed that he bought this land in a deal that was separate to buying the club (I also believe the fee mentioned was £50m). In order to extend the Gallowgate stand we would likely need some if not all of this land. Anyway it now appears that Ashley is either leasing this land to NUFC with no intention of NUFC ever using it (possibly a type of money laundering), or he’s selling the lease to NUFC in order to sell this land as part of a deal to sell the club

    • Leazes.

      No it isn’t that was sold off for £2.5m and .the club isn’t leasing it back

    • Dont stop bobbi fleckman

      No, it’s the operating lease on the land that the stadium sits.

  • Mark

    The stadium is still owned by the club – it’s listed in the accounts in the fixed asset notes. As they only pay 700k a year on lease payments this is very likely just a very long term lease – other people’s comments on a 999 year lease for the land to the council being the most obvious reason – it only takes £50k a year for that long to make £50m. Suspect that this is noise about nothing

    • JonMag

      so it jumps up by £54m in the space a year and it`s nothing to worry about, are some sort of [email protected]@king idiot

      • Dont stop bobbi fleckman

        No, read the accounts again and the explanation. There may be a [email protected]@king idiot on this thread but it’s not Mark.

        • TheNutJob

          it`s you bobbi

          • Dont stop bobbi fleckman

            I wasn’t in the thread but in these threads I’ve been proven right, time and time again. Guess what? I’m right again.

    • Dont stop bobbi fleckman

      Exactly, I’m very surprised @kieranmaguire made such rash subjective comments whilst not really understanding the note or what it was for. That’s quite unprofessional and leads folk to make daft comments.

  • TheFatController

    I haven’t seen anything from Monkseaton Mugpie?

    Should I just put in his usual contribution of saying that no one else had put as many relegations into the club and that he wonders why there is so much hate. We must be mackems to hate him so much, he’d conclude …

    • Leazes.

      He’s there under the fleckman label…. says its ground rent and we’re paying for the next 99 years in one go.

      • TheNutJob

        bad luck yesterday leazes, Fulham & Madrid to win 7/1
        Madrid to win 3-1. 12-1
        😂😂😂
        💷 💷 💷 💷

      • Dont stop bobbi fleckman

        No, not in one go.FRS 102 now requires a disclosure of all operating lease commitments. A new noteon the accounts but not a new committment.

        • TheNutJob

          he can`t see you bobbi, you`re block cos he thinks you`re
          an eejit
          😠😠

          • Leazes.

            I catch glimpses because the site logs you out now, just a quick check to see if he’s being a bit naughty.

          • Dont stop bobbi fleckman

            It’s a shame, think what he’d learn if he were not suck an ignorant chap.

            I wonder if he walked out of classes at school whenever he didn’t understand the lesson. People will never learn with such an attitude.

            I really wish he’d stop making up these lies though, it’s not good for other people.

      • Monkseaton Magpies

        It’s not under one go. You must now show operating lease commitments under one year, between two and five years and over five years. Lots of companies sign new leases for long periods but most if not all have a break clause in them. The council will not sell the land in case someone used it other than football purposes eg flats.

        • TheFatController

          Where in the accounts does it balance out the fact of our two recent relegations?

          Are we still to be credited against those debits with a couple of Cup successes ?

          • Leazes.

            Not our relegations they belong to MJW Ashley.

    • Monkseaton Magpies

      The operating lease is rent due to the council and must be included in the accounts by law. It relates to rent under one year, between two and five years and over five years. Looks like the old lease expired and we have signed a new one. Think the old one was for ninety nine There is again nothing unusual in this and that so called football expert has gone down even more in my estimation. He should really go on an accountancy foundation course or give me a ring.

      • mactoon

        The old lease of the St James land was for 999 years back in the john hall days when I got a share pack so the term hasn’t expired yet. If this is the same lease for the St james land it could be a break clause has been taken up and the lease renegotiated and the money stated is rent payable to newcastle city council

  • Geordiegiants

    He has been well and truly found out here. He is leasing the ground to the club. Any so called fan still going and giving him money is THE CAUSE. This loyalist fans thing is ruining our club. Ruining it!!!!! Boycotts are THE ONLY thing that will work.

    • TheNutJob

      son of satan
      👺👺

    • Dont stop bobbi fleckman

      He’s not mate, this is what I meant about jumping to conclusions. FRS 102 has changed and the operating lease is disclosed for its entire term.

      • Geordiegiants

        So what your saying is, he is putting the full amount of the lease into one year?

    • Albert Stubbins

      he knew that when he bought the club mate- he said it was because of the fans- everyone at the time thought it a nice thing to say, little did we all realise the real malice behind that statement- its because he has been able to exploit the one good thing about the whole club- The Fans, and weve been like lambs to the slaughter ever since. He knew the hardest choice a Newcastle fan would face would be to give up going to the match- he has traded on that loyalty for his own ends- the cruel [email protected]:%%D

  • TheNutJob

    Hola compadres, what a fine day it is today, the Mighty Real Madrid showed no
    mersey last night against the scousers although they did put up a fight in the end class won the day.
    Rafa will be happy his hometown club once again won the Cup.

  • Monkseaton Magpies

    The lease costs are indeed future payments for the rent and must be shown in the accounts by law. It looks like we have signed a new lease for say ninety years. It is not a bad thing and most leases have a break clause in it. See the so called football expert excludes the ten million pounds bonuses from the accounts, depreciation and many more items. Just as well he is not doing the books or we would be thrown out the Premier League.

    • Come&TakeIt1836

      Yes. The ‘expert’ seems to have a bit of an agenda (somewhat like the article writer… “I have no idea what I’m talking about but this is terrible”. )

      Since the exact terms are unknown, who knows? I don’t… but by it being and operating lease, it may provide a tax break for NUFC that saves them some money. Maintenance costs are probably borne by the ‘lessor’ limiting cash spent and costs reported by NUFC (also helping avoid potential FFP issues?). It is likely a ‘cash friendly’ option in the short term which is important considering our cash flow history. Most likely a near-fixed expense on the books for decades into the future regardless of inflation. Probably no ‘balloon’ payment scheduled at the end like with most ‘finance’ leases though the lease almost certainly does not end up going full term regardless since it runs to about the 22nd century.

      And this set-up doesn’t seem to be that unusual around the league. Everton has £60M for future operating lease payments listed. West Ham has a whopping £230M promised for future operating lease payments. Swansea has over £100M for future operating leases that don’t appear to even be for the stadium (good luck to them with that). I didn’t bother looking at ‘big 6’ as their finances aren’t currently comparable to ours. I didn’t look at smaller clubs for the same reason except Swansea. I was just curious about a relegation club.

    • TheFatController

      Mike Ashley has had us thrown out of the PL twice in 11 years. And a few times we’ve only just not been thrown out.

      Not by the PL, just by more ambitious, better run clubs.

  • kingfisher

    Villa lose, that will be Terry jumping ship ! Madrid win and Bale and Ronaldo could be leaving.Liverpool lose and their keeper Loris Karius has a nightmare and could be on his way.Four players possibly available,I wonder who we will be linked to ?
    Two world class players worth zillions, an ageing defender looking for one last big money transfer, or a goalkeeper who is a liability but would cost nowt?……….
    Mmmmmm that’s a hard one ,let me think ………………….🤣😂😁😀

    • Wor Lass

      And Sam Hepworth and his pals will be out celebrating a double success: Villa beaten and Bruce still in the Championship.

    • Come&TakeIt1836

      And seriously…how fast do the Grealish links startup?

      Aston Villa should be offloading several players to hang in Championship ‘purgatory’ for a while after their spending the past two years. FFP will cut them off at the knees beginning next year.

    • Leazes.

      Oh god that was a nightmare he couldn’t find a hole to bury himself in after the game.

  • Wor Lass

    The thing is, our accounts are always so difficult to decipher. Any explanation is invariably accompanied by “.. must be..”, “.. it looks like..”, ” .. it is likely …”, “.. most likely ..” etc. The fact that they are so tangled up and hard to pick apart makes you think that someone might be trying to hide something …. possibly … or even … most likely.

    • Come&TakeIt1836

      This is a true statement but the qualifiers are actually true for about all books that you don’t have the detail behind them. When all you get is a summary income statement, a very limited balance sheet, no cash flow just a final cash balance, etc and all a year later, solid and meaningful analysis is tough. And the limited info is by design for everybody… not a local thing.

    • Leazes.

      That hasn’t stopped people trying to find out what this regime is up to, because they stay silent and hide from questions.

      We wouldn’t have known about the sale of Strawberry Place if it was left to Charnley for a start or what happened to United’s retail and Advertising….. the club issue no statements about their operations.

    • TheNutJob

      Bonjour wor lass

    • Dont stop bobbi fleckman

      Ours are no more vague than others, you need to unfunderst the accounts are puublished to inform people who may have future or current financial dealings with the club.

      • Wor Lass

        “unfunderst”? Is that some sort of German celebration to celebrate Fatty`s lack of financial support for his manager?

        • Dont stop bobbi fleckman

          Ha ha, you can have that one!

      • MichaelMaximusMoose

        Bull Schiit Bobbi, King of the Krap pile
        💩💩💩

        • Dont stop bobbi fleckman

          There are rules to clearly state the position of the company up to the stated period.

          There is nothing unusual in the way we report.

          • Geordiegiants

            Where has all of this we stuff come from Bobbi, you talk like you do the books.

          • Dont stop bobbi fleckman

            It comes from the financial Reporting Council (FRC) who set the standards on financial reporting to adhere to the companies act creating UK GAAP.

            I happen to be qualified in this sort of thing and have read the accounts.

        • Dont stop bobbi fleckman

          To think, I said you were the most intelligent of the Jezza, Leazes’ and MMM clique.

    • Leazes.

      It does seem that there’s a load of meaningless nonsense in there…. I wonder what other clubs are doing?

  • Leazes.

    Okay there is other stuff as well, its a big problem when everything is vague and hidden, this is something new and we have discovered where Justin Barnes hides away and some of the things he does…. he was involved in the Rangers Retail Heist for a start.

    If this is lan d frent then how did they derive a top figure in an ongoing tenure if its only for the annual lease of land?

    If you take that figure and divide it by either of the yearly amounts it comes to (very roughly and not exactly at all)… 78 or 82 years. Why project the rent for that amount of time in a yearly account?

    That’s a strange thing to put into the accounts, why bother at all, its completely meaningless as ground rent, they cant possibly guess what the rent for the land is going to be in 10 or 20 years never mind 80.

    • Geordiegiants

      Very true

  • MichaelMaximusMoose

    Over a year HMRC have been delving into the Pigs accounts and have yet to come back so what chance have we got of understanding them.
    NONE

    • Dont stop bobbi fleckman

      Micky, it’s reletively easy to understand, if not rely on someone who does.

      It’s best to take fanciful opinions from the likes of Leazes’ and listen to those who know.

    • Rich Lawson

      That’s a baffler,West Ham were raided the same day and naughty Mr Sullivan got a slap on the wrist and had to pay back £700k.Not a word on what’s happening to us ?

      • Geordiegiants

        He has probably paid them off.

        • Rich Lawson

          In a brown paper bag ?

  • Weyhhadaway

    We never owned the land the ground is on, we lease the land from the city, always have even before Ashley.
    Is this article suggesting that we have shown the future spend of 55M as part of the 90M loss?

    • Dont stop bobbi fleckman

      No, it’s a new reporting requirement that you disclose the future commitments of the business. We have a very long lease on SJP so, we must disclose this commitment.

  • FatParosite

    The biggest question is why the figures have been used in this way? Held back to promote the idea that Ashley or rather NUFC have nothing to spend. These are last years accounts used to try and win a PR battle. Why are the FA unconcerned at the lateness of delivery and tactical use of those records?

    • Leazes.

      Yup they’re a season out of sync ending before the start of last season.

    • Geordiegiants

      The FA are as bad as FIFA.

    • Dont stop bobbi fleckman

      I really don’t think Mike Ashley got the authorities to change the FRS especially for these figures

    • Fireman Sam

      It’s going to be interesting in 12 months time to see how he makes £100m disappear

  • Sid James

    What a Carry On

    • Westdentoon

      Dear me I couldn’t imagine spending hours trolling through your clubs forum. Ye got nowt better ganin on like?

      ..bit weird if you ask me, kind of obsessively weird, but each to their own I suppose 😉

  • Mxpx

    So as best I can understand from reading this forum we’ve signed a 90 year lease for the land and the accounts reflect that…. If we’re right then this isn’t news and we should be more worried about Ashley giving the club back the land behind the stadium if we’re committed to being there 90 years more seats are in order

    • Dont stop bobbi fleckman

      Don’t you think that the club buying back a car park off Mike Ashley instead of a player or two may go down badly amongst the fanhood.

      • Geordiegiants

        No I don’t, and I bet most wouldn’t either.

        • Dont stop bobbi fleckman

          Exactly, I’d say it will create a riot if Mike Ashley thought about “giving (realistically selling) the club back the land behind the stadium”

          • Mxpx

            I’m suggesting that it was never his to take and it should be returned to the club I’m not suggesting the club pays for it

          • Dont stop bobbi fleckman

            We’ll, he paid £6m for the land and MGM shares, that will have to be paid back and given the value more than doubled from 2006-2010 at a time of recession, one can only imagine how much it should be worth?

          • Dont stop bobbi fleckman

            He didn’t take it, his company bought it, way above market value for cash which gave the club money to finance promotion in 2010.

          • Fireman Sam

            It was his fault we got relegated

          • Dont stop bobbi fleckman

            Really?

      • Megatron1505

        I would, but as we won’t do either it’s like worrying that the sky is falling in.

      • Big Hairy Man

        He shouldn’t have took it in the first place

      • Fireman Sam

        That is pretty much exactly what he is doing.

        • Dont stop bobbi fleckman

          How, explain?

    • Leazes.

      Maybe…. but it is news that Charnley is adding as many numbers as he can to the accounts barring registration plates in the car park. Obviously the stadium isn’t going anywhere but it looks like rent for something is going somewhere.

      Having seen what Justin Barnes has been up to at Rangers it looks likely that he’s been brought in for his expertise in property and land, the club has already been stripped of most of its assets so the future doesn’t look terribly good.

      Ashley has held the club hostage for an enormous amount of time and has said he’s not remotely interested in its running or prospect or fortunes(sic).

      Perhaps if one of his family were to be kidnapped we could do a trade.

  • mactoon

    So having looked at the accounts, the writer is just referring to the clause that sets out the leasehold commitments of the club. As far as I am aware the land the ground is built on is the only lease they have. So (very broadly speaking) if this is the case, a figure of £663,000 p.a. spread across 83 years would be 55 million. This just indicates to me that a break clause in the original 999 year lease has been activated and a new lease has been negotiated. Possibly a 99 year lease given the time he has been here (just guessing) and the rent is payable to the landowner, Newcastle City Council.

    Using the example of Swansea’s Liberty Stadium with a capacity of 21,000 they pay £300,000 p.a. so a figure of £663,000 for ours doesn’t seem to be too far fetched.

    • The Postman

      Thank you mactoon, sounds like the best assessment of the situation I have read over the last two days

  • Fireman Sam

    The big concern I have is this HMRC investigation. Whatever happens it should be Mike Ashley that is held accountable and not the football club, that has effectively been taken hostage. The club should be seriously cash rich after this season, and if no money is spent this could multiply rapidly as the coming season progresses. Fat Mike could cut and run and recover most of what he paid to buy NUFC in the first place. This can not be allowed to happen.

    If there is not a significant investment this summer it highlights that neither Ashley or for that matter Rafa see us as being viable in the long term. I suspect the reason for this could be the HMRC investigation.

    • mactoon

      Charnley has factored in an amount of money in the accounts for what he feels HMRC will demand. This being the case I don’t see this as a real issue. The bigger issue is Ashley not providing transfer funds until Rafa signs a new contract while clubs around us strengthen their squads, this, together with the early closure of the window worries me more.

  • Andy Mac

    “From what I can make out NUFC have taken out a long lease on a piece of
    land and the club has to pay the rent on this for the next 90 years or so.

    A lease is merely a rental agreement and under the accounting rules you
    have to show how much you owe to the landlord for future rental payments.

    If this relates to the stadium it makes sense as it means the club has
    security of tenure and can expand the stands etc. without worrying that the land
    owner will take it back.

    Alternatively the lease could relate to perhaps the training facility, with
    a similar type of commitment.

    It’s not possible to tell from the accounts to which property (or it could
    be properties) the lease refers.

    NUFC are effectively committed to paying about £600k a year to a landlord(s) for
    the next 90 years”

    Thanks Kieran.

    • The Postman

      Thank you for that Andy

    • Albert Stubbins

      The club should clear this up at the next supporters trust meeting- the fans surely have a right to know what commitments the club are making and what the payments are for- thanks for the explanation all the same.