I mentioned it as a reply in the previous post, but it seems Dr Xia is saying that not a penny of the Premier league parachute payment has gone towards the transfer window.
That is massively interesting in itself to me, because it begs the question as to why not?
I’d had my suspicions that it was what led to the vast majority of the outlay and I’ve no doubt I wasn’t alone in thinking it.
But if that statement is true (and keeping my sceptical head on, it might not be) it’s fantastic news in my opinion.
Which begs another question, in why didn’t we use it?
I can only suggest it was used as part of a staged payment to Randy Lerner. It makes sense, either way, whether it’s part of the original supposed £75 million deal or as an add-on, as deferring this sort of money is just good business on Xia’s part.
That said, I don’t know how/when relegated clubs get paid the parachute money. No doubt that’s probably staged payments too, which might explain it all.
But you would think Xia wouldn’t leave himself open to being accused of being economical with the truth?
And then there’s a story that I’ve literally just heard, where Xia says he signed off a deal worth 4.2 billion, which was tempered by the Forest game.
There’s no specific information on what the deal was, but even if we assume we’re talking about Renimbi (what happened to the good old Yuan?) this is serious money, as a Renimbi/Yuan is worth about 9% of a quid.
So £400 million at least, in proper money.
Whether he’s sold something or bought it, I’d suggest Xia isn’t a fly-by-night type hairdresser or chicken farmer and indeed does have some serious clout behind him.
I’d still question if it’s his money or if he has higher backing, but either way, it’s reassuring and I don’t believe we’re going to see a cut and run.
I’m warming to this bloke more and more each day.
And I’ve been very sceptical, on the whole; or at least as much as I could be.
We all want it to go well, after all.
I’d quote the source, which is the Birmingham Mail, if you’re insistent, but the site is a nightmare now, with pop-ups etc and I’m considering taking it off the list of places I look at.
From what little we know of Dr Xia’s stock exchange listed businesses they are not making money. But that does not matter if he is fronting several other people. There is a massive outflow of Chinese money from PRC into assets outside the country. It seems to be hurried and is unusually not bothered about driving a hard bargain, just a fast one. In my line of work we have seen them pay a fat price for Indonesian Rubber plantations and a Malaysian chemical producer. These deals were rushed through.
Money laundering??
Maybe being used to pay down some of the outstanding debts, if I remember rightly the purchase price was approx 60m+ but there were 40m of loans, over drafts and debts to take on as well.
Newcastle are on fire right now, they’ll be out of sight soon, along with Barnsley!!!
Only 6 games in and due to our start tonight has to be a must win game against a good Brentford side. Why do I have that horrible sinking feeling?
A win tonight will only take us up a couple of places, we need 3points I have draw written all over this one.
Don’t panic just yet, there’s a long, long way to go.
I’d settle for a lucky win tonight. That’s all we need really and I think we’ll be on our way.
Come on you Football Gods and get your fingers out. Any more jammy last minute goals by the opposition and you’ll be truly taking the piss.
Seems we are struggling in second half, Brentford are giving us a game hope we don’t give this one away, Delap going off injured Villa holding on according to WM.