crodonilson
He/Him
Newcastle fans wont be complaining if it brings a hundred million pounds into the club coffers for player purchases in January. Also it will always be St James' Park to the fans so can't see what all the fuss is about.
Newcastle fans wont be complaining if it brings a hundred million pounds into the club coffers for player purchases in January. Also it will always be St James' Park to the fans so can't see what all the fuss is about.
But from my understanding its not going to bring in ANY extra revenue.
It's Mike Ashleys company so he is just paying HIMSELF. He I'd basically just moving the money from sports direct to Newcastle. It's the same as you moving 200 quid from a Lloyds account to a natwest account and then claiming your 200 quid better off.
Man city did it with their stadium. It's just to get round the new prem rules about making sure you are getting an income into the club rather than relying on sugar daddies
But from my understanding its not going to bring in ANY extra revenue.
It's Mike Ashleys company so he is just paying HIMSELF. He I'd basically just moving the money from sports direct to Newcastle. It's the same as you moving 200 quid from a Lloyds account to a natwest account and then claiming your 200 quid better off.
Man city did it with their stadium. It's just to get round the new prem rules about making sure you are getting an income into the club rather than relying on sugar daddies
I don't think that's right. It's not moving it from one of his accounts to another of his accounts, it's simply changing the reference for the transfer from 'gift' to 'for services' so it can be spent on players and wages.
As it stands, he can say "I'm giving newcastle £50m to spend on players". He takes £50m of his own money and it becomes the club's money. Yes, he owns the club, but as far as the accounts are concerned the money is now the clubs.
Under the new financial regulations he can't do that. They can't use donations, they can only use money that has come through commercial avenues (ticket sales, sponsorship deals, etc). So instead, he is now taking the £50m to pay newcastle to name the stadium 'sports direct'. The club now have in their accounts '+£50m - sponsorship' and can now use the money to buy players, pay wages etc.
Funny how we all think John Madjeski and Dave Whelan are great Chairman, yet seem to think Mike Ashley isn't ..................
As a director, he has already put perhaps hundreds of millions into the club.
A fact rarely aired or acknowledged. And now he's wanting to recoup some of it, shock horror.
No bugger wanted to come in and buy the club when it was up for sale and in the Championship, so it was purely down to Ashleys cash that they stayed afloat and solvent. Now they're enjoying the fresh clean air near the top of the Prem, thanks in no small part to Ashley.
I'd say he's within his rights to get some money in through the sale of the name. As others have said, fans will always know it as SJP anyway.
Why? They financed and built stadiums and then named them after themselves. Ashley contributed nothing to the building of st james park, and is flying in the face of 119 years of history to change the name to push his business.