NUFC Finances Set To Break Even - Lets All Praise Mike Ashley?!

NUFC are set to release their annual financial report which will show the club is about to break even for the season 2010/11. So to people who have a small interest in NUFC's finances over the past few years, coupled together with a brain, this is totally unexpected. 


However, this wont stop the journalists, football media and idiotic fans saying the following phrases, 'Fair play to Mike Ashley', 'Say what you want about Ashley, but he knows his finances' and 'Good job, well done Mike Ashley!'


Which of course, on the whole, is utter horseshit.


The financial details released year by year are what a football club does over the course of a season. It's worked out very simply of Income - Expenditure = Profit/Loss. So let's look at it shall we in very general terms.


Since NUFC were disgracefully relegated two major things happened: 1) We missed out on around £30-£40 million in Premier League revenue and 2) Some of our top earners contracts ran out (Owen £100k, Viduka £60k), jumped ship (Duff £60k, Beye £40k, Given £40k, Nzogbia £30k) or were sold to make some money (Martins £8mil plus £80k wages, Bassong £8million plus £20k wages, Geremi £2mil  plus £60k wages).


What this resulted in was that NUFC were no longer spending around £80mil on wages every season, but it was reduced to around £50mil. We have made some signings and sold more players since then so the wages stands at around £60mil-ish as we speak.


Now seeing as NUFC as a Premier League club makes around £80 - £90 million it goes without saying that our wage bill was far too big at around 100% of income at £80mil that was being spent on it. No football club can sustain this. Also putting everything else into account such as transfer fees paid, running costs, tax etc...NUFC were making a shocking loss under this 'Freddie Shephard' like approach.


So as NUFC bounced straight back into the Premier League with a wage bill of around £60mil plus other running costs of around £20mil and were set to make around £85mil in income from the Premier League...than i'll let you do the simple maths to work out what our financial results would be. It isn't rocket science!


In case you failed to work it out it comes to about break even.


So what exactly has Mike Ashley done?


Well as I have explained players left the club due to specific reasons of either contract ran out, or jumped the sinking ship or were sold to the highest bidder to make money. So you could say Mike Ashley was responsible for this, at is was his ridiculous decisions to a) bring in Dennis Wise b) Sack Keegan and c) Bring in Joe Kinnear that majorly contributed to our relegation season. So well done there Mike...!!


What he has also done is basically, 'not done a Freddie Shephard' by making overly expensive signings with huge wages the football club couldn't afford. So if we are saying a human being deserves to be praised for NOT acting like a totally irresponsible mad-man...then yes, well done there Mike...!!


What he also has done on the whole in transfers is before the Cisse signing in January, since he took over out club as a Billionaire sugar daddy is make a PROFIT of £40million in transfers fees...thats a NET PROFIT Ladies and Gentleman in transfer fees. No other club apart from Portsmouth can come even close to us on that scale over the past 5 years. So again, if we are praising people for being a greedy, tight bastard? Then well done there Mike...!!


So to conclude NUFC are a football club that have there wages under control at a level that fits into their Income Revenue stream; they dont have a transfer policy of spending shit loads of money on players they cant afford and have a unshakable sell first/buy second system to player recruitment; they only buy players of 26 years and under so that they can actively look to sell on in the future for a nice profit; and are looking to sell the naming rights to their historic stadium even though no fucker seems to want to, so instead cover it in shockingly ugly Sports Direct logos.


Excellent.


Mike Ashley does deserve some praise for where we are right now, but not what the morons will come out with after our financial records come out for the world to scrutinise over.


Mike Ashley isn't Freddy 'mad-man' Shephard, he got us relegated due to ridiculous decisions, the high profile players have all left and have been replaced with cheaper options and he isn't interested in spending any money whatsoever unless we make it first, he discards the name St James' Park in order to try and make money from naming rights but nobody wants to do it, he rapes our stadium inside and out with his dog ugly Sports Direct logos that make you wanna throw up - so let's praise him for it?!


Forgive me if I don't join in the Mike Ashley love-fest that will come out of this, due to the facts I have an intelligent brain and more importantly basic common sense.


Once again - honestly well done Mike, we've kind of got there in the end of 5 years of trying...but it could have been so much better with a little bit of nouse, little bit of common sense and whole lot more dignity, honour and respect...!!!!