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Old September 15 2008, 07:24 AM   #743
Hermiod's Avatar
Re: (UEFA) Football Thread - Football not Soccer

Interesting statement from Mike Ashley - here.

I bought Newcastle United in May 2007. Newcastle attracted me because everyone in England knows that it has the best fans in football. When the fans are behind the club at St James' Park it makes the hairs on the back of your neck stand up. It is magic. Newcastle's best asset has been, is and always will be the fans.
But like any business with assets the club has debts. I paid 134 million out of my own pocket for the club. I then poured another 110 million into the club not to pay off the debt but just to reduce it. The club is still in debt. Even worse than that, the club still owes millions of pounds in transfer fees. I shall be paying out many more millions over the coming year to pay for players bought by the club before I arrived.
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