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Ashely used to hire and fire managers at Newcastle but came to the view that it led to wasting a lot of money, paying off managers and bringing in new players for the next one. His financial strategy wouldn't work doing this, so he changed tack and went to the other extreme, a statement of intent, an 8 year deal for Pardew and an impervious, water off a ducks back reaction to calls for his head.

 

He needed someone who was onside with what he wanted, someone who wouldn't rock the boat and would remain loyal to him, if not always the club.

 

I don't disagree with sticking by your manager but you have to get the choice right.

 

However, over and above that we need a board who have the long-term interests of the club as their priority.

 

 

A number of folk I know believe that the contract was that length because at the current rate of paying back a loan to Ashley it will take Pardew that long to clear his debt. The story goes - and I've heard it from media folk as well as fans of London clubs* - that Pardew spent recklessly partly to impress a young lady and in any case had run up casino debts way beyond what he could afford. Ashley lent him enough to get out of trouble if he agreed to work for far lower than a Newcastle manager would expect to, never criticise and pay off his debt directly from his salary, month by month. Pardew is a debt-serf that would never be sacked by Ashley unless he somehow became replaceable by someone in even more dire straits is what I was first told some time ago.

 

*I've also heard that ex-players have said the same but I've only heard that second hand but then as we know, hearing a rumour from various people could just mean they all heard it from the one source. I've no way of verifying this rumour, just passing it on and saying that a growing number of people are treating it as an "open-secret".

Edited by SteveC
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why should ally walk to save the ****s cash. none of them ever forgo their pay offs.

 

They own McCoist, bought his soul a wee while back, and very cheaply in their eyes. He fits their purpose spectacularly well.

 

A very cheap deflection and denial tool, he is allowing them to plunder cash, not costing them. He will only get hung out when it suits them.

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They own McCoist, bought his soul a wee while back, and very cheaply in their eyes. He fits their purpose spectacularly well.

 

A very cheap deflection and denial tool, he is allowing them to plunder cash, not costing them. He will only get hung out when it suits them.

 

Plundering cash? Do tell us. Who got what?

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A number of folk I know believe that the contract was that length because at the current rate of paying back a loan to Ashley it will take Pardew that long to clear his debt. The story goes - and I've heard it from media folk as well as fans of London clubs* - that Pardew spent recklessly partly to impress a young lady and in any case had run up casino debts way beyond what he could afford. Ashley lent him enough to get out of trouble if he agreed to work for far lower than a Newcastle manager would expect to, never criticise and pay off his debt directly from his salary, month by month. Pardew is a debt-serf that would never be sacked by Ashley unless he somehow became replaceable by someone in even more dire straits is what I was first told some time ago.

 

*I've also heard that ex-players have said the same but I've only heard that second hand but then as we know, hearing a rumour from various people could just mean they all heard it from the one source. I've no way of verifying this rumour, just passing it on and saying that a growing number of people are treating it as an "open-secret".

 

Thanks Steve.

Now that you say that, I think someone mentioned it briefly on FF a few weeks ago, it might have been yourself.

 

MA has been known to offer a loan in circumstances that he recognized he could take advantage of further down the road.

There was a link posted (article) that in part detailed such a case. IIRC it had something to do with someone involved at JJB (or who later was), possibly as CEO.

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dave whellan believes he bought off dave jones at jjb.

 

JJB Sports chairman Sir David Jones yesterday vowed to pay back a controversial £1.5m business loan "as soon as possible". The money, borrowed from business rival Mike Ashley, was used to prop up software firm Advance Network Technologies (ANT), a company 70% owned by the Jones family, in which his son Stuart is also involved.

 

The company, which offers services such as IT support, owed creditors about £4.4m at the end of 2007, according to Companies House.

 

JJB said yesterday the loan was agreed prior to Jones joining its board in October 2007 and that executive directors were informed of its existence and terms, including the option of Ashley converting his loan into shares, earlier this year. The board maintains the transaction was a "private" matter and as a result it did not need to tell the stockmarket. "The board considers the matter closed," it said in a statement.

 

http://www.theguardian.com/football/2009/jul/08/mike-ashley-bankrolls-jjb-chairman

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dave whellan believes he bought off dave jones at jjb.

 

JJB Sports chairman Sir David Jones yesterday vowed to pay back a controversial £1.5m business loan "as soon as possible". The money, borrowed from business rival Mike Ashley, was used to prop up software firm Advance Network Technologies (ANT), a company 70% owned by the Jones family, in which his son Stuart is also involved.

 

The company, which offers services such as IT support, owed creditors about £4.4m at the end of 2007, according to Companies House.

 

JJB said yesterday the loan was agreed prior to Jones joining its board in October 2007 and that executive directors were informed of its existence and terms, including the option of Ashley converting his loan into shares, earlier this year. The board maintains the transaction was a "private" matter and as a result it did not need to tell the stockmarket. "The board considers the matter closed," it said in a statement.

 

http://www.theguardian.com/football/2009/jul/08/mike-ashley-bankrolls-jjb-chairman

 

Chris Ronnie certainly did a cracking job at JJB, well if you view from Sports Direct's point of view.

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