Shola - Comments

Some progress has been made but we play less long ball with Shola out of the team.

The ticket revenue has fell because the attendances have fell, prices are very similar.

We spent heavily in January because we were in severe danger of being relegated - we didn't spend at the start of the season when it was neccesary.

While the average attendance at St. James' Park has risen to 49,936 - an increase of 2,190 on last year, ticket revenue has fallen by 7% after the club froze season ticket prices with its ten and nine-year season ticket deal and continued its commitment to making football affordable through a variety of ticketing initiatives

Net debt fell last season from £150 million to £130 million, comprising a £140 million loan from Mike Ashley less £10 million cash balances. Since Ashley arrived, the gross debt has significantly increased from £77 million in 2007, though he also had to clear the mortgage on the ground. Importantly, the club now has no external debt (it had a £36 million overdraft as recently as 2009), which not only provides more stability, but has also saved considerable sums in interest payments. These were £6.5 million in 2007, but would now be around £11 million a year following the rise in debt.

Although Newcastle’s annual report initially stated that Ashley’s loans would carry interest at LIBOR + 0.5%, since 2009 they have all been classified as non-interest bearing. The 2010 accounts said that £12.3 million was repayable in August 2010, £16.5 million after more than a year and the remainder on demand, but no repayments have actually been made to date – though it is likely Ashley will want the loans repaid at some stage.

The previous ownership had mortgaged Newcastle to the hilt, securing loans on virtually all the club’s assets (training ground) and future income streams (TV, sponsorship), and also left Ashley with deferred transfer payments of £36 million, some of which was owed on players who had left the club. Following the implementation of a new policy whereby transfers fees are paid up front, the club is now owed £5 million.

Despite his occasional crass behaviour, there is no doubt that Mike Ashley has put his hand in his pocket to keep the club going, as its cash flow has been consistently negative before his financing. There is still much distrust of the owner, leading Llambias to emphasise in the results statement, “Once again, Mike has not taken any money out of the club.” In fact, he has invested £273 million in total, made up of £133 million to acquire Newcastle plus £140 million of loans.

Since Newcastle United were floated on the Stock Exchange in April 1997 the Hall family and Freddy Shepherd have earned from the club as follows:

Sales of shares by Cameron Hall, Sir John and Douglas Hall's company:

December 1998 Sold 6.3% to NTL: £10m

December 1999 Sold 3.26% to NTL: £5.28m

December 1999 Douglas Hall sold 0.39% to NTL: £0.57m

June 2003 Sold 11.4% to Newcastle United itself: £4.5m

Total earned by Hall family in sales of Newcastle United shares £20.35m

Sales of shares by Freddy Shepherd Nil

Shepherd and his brother, Bruce, have increased their shareholding, via their company, Shepherd Offshore, from 7% at the time of flotation to 28% now

Dividends paid by Newcastle United plc to shareholders 1998-2005

Total to Halls: £13,698,280

Total to Shepherds: £5,489,239

Salary packages paid

Year Hall Shepherd

1999 £23,533 £23,533

2000 £35,000 £75,000

2001 £110,000 £232,868

2002 £524,257 £591,639

2003 £591,667 £668,920

2004 £635,465 £717,145

2005 £495,951 £552,954

Total £2,415,873 £2,862,059

Totals made from Newcastle United

Sir John, Douglas and Cameron Hall: £36,466,153

Freddy Shepherd and Shepherd Offshore: £ 8,351,298

Total £44,817,451

There is anger, bitterness and hostility, but mainly there is just disillusionment and weariness that a proud football club is again making headlines for all the wrong reasons.

The fact he said "Judge me by my signings" and said we'd sign three, and then promptly sign one on loan, is an invitation to judge him in a negative way. So that's what a lot of fans are doing.

anticipated influx of bright new talent failing to materialise. Mevlut Erdinc may still join from Paris Saint Germain

Newcastle United fans get a real sinking feeling after the Mutiny on Tyne
Newcastle United supporters are used to turmoil, only they normally have to wait for the season to start before things begin to disintegrate.

Few clubs do unwanted drama better than Newcastle United, but even by their standards this summer is turning into something spectacular.

The extent of Newcastle's ambition seems to be mid-table Premier League safety. It is sustainable and it can probably be achieved with the players at Pardew's disposal, but it will do little to generate goodwill among fans who can still remember watching their team in the Champions League.

There is an ugly, potentially poisonous atmosphere building and there is also growing concern about the damage inflicted by such a fractious summer.

A solid return to the Premier League last season is in danger of being wasted, the team spirit that got them there eroded and the anticipated influx of bright new talent failing to materialise.

It is far too soon to write Newcastle United off, their new signings may click, their number one target, Mevlut Erdinc may still join from Paris Saint Germain, but it is relegation battles, not European pushes, which are starting to occupy minds.

There is anger, bitterness and hostility, but mainly there is just disillusionment and weariness that a proud football club is again making headlines for all the wrong reasons.

Man U fans, do you fancy a Director of Football swap?

Skacel left so Bian went to suck his ePenis on yet another website.

Game was/is a massive bell, doesn't surprise me at all.

Seriously?

I don't know who we'll definitely end up with, but right now I know terms are agreed with Fabregas, Draxler, Di Maria, Rooney & Suarez. 1/2

— WayneGooney18 (@WayneGooney18) Permalink