Fat Mike borrowing against Newcastle future earnings

[Bazoo]

Companies House reveals Mike Ashley takes out loan against 2020/21 Premier League TV money

Revealed Newcastle United have taken out loan/borrowing facility against next season's TV cash - Mike Ashley to take £££m out of club again?

www.themag.co.uk

Tuesday morning (17 September 2019) the latest document became available to the public.
It was filed by Newcastle United on 11 September 2019 and it shows that the club have borrowed an unspecified amount (or arranged a significantly increased overdraft facility) from Barclays Bank.
The loan is secured against both the remaining money to be received by Newcastle for this current 2019/20 season from the Premier League/broadcasting, as well as against the ‘Basic Award Fund’ for the 2020/21 season.

 

[McQueen]

Fat dick

 

[subversive_bear]

Really shit situation for the fans there.

 

[SGbanwa]

Hate the guy a man with no loyalty and just wants to %^*& everyone up for shits n giggles cause he has more cash than many!
Scumbag of highest order!

 

[Baloo72]

That is their parachute payment gone then


Parasite

 

[giogaddi]

They might not even be in the EPL next season. How big is the 'parachute payment'?

 

[CooperShoots]

Wow, this has to be a wake up call for the Newcastle fans. I fear it might be far too late for them.

 

[top_cat]

Really shit situation for the fans there.

The fans know what to do mate. They choose not to.

 

[jaws73]

That's just a Craig Whyte Ticketus scheme in a different guise.

 

[GeordieRanger]

The boycott is gathering pace. NUFC v Brighton live on sky on Saturday night. Just wait and see how empty it is.

 

[Superrangers]

Wow, this has to be a wake up call for the Newcastle fans. I fear it might be far too late for them.

It will take someone coming in with big money to get rid of this fat parasite.

 

[klosrfc]

They just don't seem to understand not to keep filling his pockets. Don't attend and boycott the wee prick

 

[sheddensbear]

Happens a lot in English football. Even Celtic, the best run club in world football, have borrowed against future earnings.

 

[dunn1872]

So would that mean if he was to up and sell Newcastle, that would be another £200m or so on the asking price?

 

[rangeral]

They might not even be in the EPL next season. How big is the 'parachute payment'?

Around £80m-£90m I think

It is spread over 3 seasons

 

[hms]

Happens a lot in English football. Even Celtic, the best run club in world football, have borrowed against future earnings.

The difference being the co-op let them pay it back whenever they feel like it

 

[ChristchurchBear]

Happens a lot in English football. Even Celtic, the best run club in world football, have borrowed against future earnings.

Your wrong mate...... there is a chest that contains 400 billion pound buried underneath the mangers desk to be used at anytime

 

[Northumbeara]

The tims might have to borrow a lot more soon!

 

[Barrymoped]

So would that mean if he was to up and sell Newcastle, that would be another £200m or so on the asking price?

Not really. It just means next seasons cash has already been spent so there’s a gaping hole in their budget for next year unless the new owners, should they get any, choose to do the same again.

 

[Davie Weir]

The boycott is gathering pace. NUFC v Brighton live on sky on Saturday night. Just wait and see how empty it is.

How empty it is?

It’ll be just like all the previous “boycotts”

 

[Superrangers]

That's just a Craig Whyte Ticketus scheme in a different guise.

Precisely what (unsurprisingly) sprang to mind.

 

[BobbyShearer]

I’m sure that makes them an atttactive purchase

 

[Seaside Blue]

Did Leeds not do that years ago and it started a decline for them when they didn’t get what they expected?

 

[uneasydaz]

Probably using it to pay his sports direct tax bill

 

[Deleted Account]

Already in debt to him from anywhere between £170-270m. Which nerds to be paid back by anyone looking to "takeover".

Already locked into long term contracts for everything.

Now being milked for money they don't have in advance.

And still the vast majority line his pockets.


Lunacy

 

[Woodrow Call]

Everyone does it. Worse case was the Glazers

Long before Whyte Murray used Ticketus

 

[GeordieRanger]

How empty it is?

It’ll be just like all the previous “boycotts”

12k unsold tickets so far and a lot of season ticket holders will miss it as well. Crowd will probably be around 36k and they'll announce 42k.

 

[Davie Weir]

12k unsold tickets so far and a lot of season ticket holders will miss it as well. Crowd will probably be around 36k and they'll announce 42k.

36K isn’t good enough though to really cause problems

 

[giogaddi]

12k unsold tickets so far and a lot of season ticket holders will miss it as well. Crowd will probably be around 36k and they'll announce 42k.

It's a start. Does Fat Bastard still show up at St James' on matchdays?

 

[Oduwa]

Did Leeds not do that years ago and it started a decline for them when they didn’t get what they expected?

Think Leeds were buying players on hire purchase schemes.

 

[Superrangers]

Think Leeds were buying players on hire purchase schemes.

Yep, through a company in Jersey.

 

[Wilkinsvolley]

The summer transfer cash was always going to come back somewhere.

 

[Twosignals]

Yes and what about some of “OUR” sadly obsessed support, when we were with Sons of Struth, and also when King and Co took over, who believed the Fat Slug would be our saviour.

 

[Haining84]

Newcastle fans are a spiv dream tbh.They’be had years and years to try and oust this fat parasite and yet the still do next to f**k all.

 

[temperance]

They might not even be in the EPL next season. How big is the 'parachute payment'?

probably his endgame

 

[Oduwa]

probably his endgame

What would be the benefit in them getting relegated?

 

[millar2318]

Around £80m-£90m I think

It is spread over 3 seasons

They might not even be in the EPL next season. How big is the 'parachute payment'?

Correct, 55% of tv money year one, 45%year 2 and 20% year 3 if the team spent more than one year in PL.

 

[GeordieRanger]

36K isn’t good enough though to really cause problems

It's over 15k down on last season and an organised boycott was only seriously considered for this season.

 

[GeordieRanger]

It's a start. Does Fat Bastard still show up at St James' on matchdays?

Very rarely. Twice last season, none so far this season. He's still seen on occasions I the directors box at away games.

 

[Bearsden Bear]

Really shit situation for the fans there.

It is, but they have the solution in their hands.

 

[jweebear]

He's doing to Newcastle what he tried to do to Rangers, steal everything that isn't screwed down,. Then put them into debt that is unsustainable to manage.

 

[insanicdrunk]

Companies House reveals Mike Ashley takes out loan against 2020/21 Premier League TV money

Revealed Newcastle United have taken out loan/borrowing facility against next season's TV cash - Mike Ashley to take £££m out of club again?

www.themag.co.uk

Tuesday morning (17 September 2019) the latest document became available to the public.
It was filed by Newcastle United on 11 September 2019 and it shows that the club have borrowed an unspecified amount (or arranged a significantly increased overdraft facility) from Barclays Bank.
The loan is secured against both the remaining money to be received by Newcastle for this current 2019/20 season from the Premier League/broadcasting, as well as against the ‘Basic Award Fund’ for the 2020/21 season.

But he is a billionaire??

He would have gave us millions!

 

[Commodore Carbuncle]

When will the people running football say enough is enough?

 

[Ryzogrumpybear]

Nobody going to Newcastle now if they ever were.
You just now it will have so many hidden traps you would be stupid to even start look at the crap hes put us through for not a lot of money never mind selling for £300plus mill

 

[Shengus Malengus]

Yes and what about some of “OUR” sadly obsessed support, when we were with Sons of Struth, and also when King and Co took over, who believed the Fat Slug would be our saviour.

Aye! Whatever happened to McTurdo Jnr?

 

[47blue]

A horrible thieving fat bhastard.

 

[sammysun]

Thank god for our board, in time King will get rid of this parasite, and we will prosper, I beleive this will come to pass.

 

[jackstar]

That is their parachute payment gone then


Parasite

No disrespect to their fans,but I want them to go down. How satisfying it would be for him to spend an absolute fortune and then go down, guaranteed it won't be his own money. Feel for the punters but he's took the piss and to see them go down would be another dagger.

 

[RFC_Falkirk]

Aye! Whatever happened to McTurdo Jnr?

He's still around, pretending that stuff never happened

Should be banned from Ibrox and any Rangers forum. Guy sold us out to people trying to kill our club

 

[nybear]

The boycott is gathering pace. NUFC v Brighton live on sky on Saturday night. Just wait and see how empty it is.

how many renewed their season ticket