Peter Pannu Antics ( rumour )

I didn't see the incident, but surely that could mean anything!

Putting something into his wallet then just waving at the fans? How do you know it was a wallet, and not his phone in a leather case? Or maybe he waved it to say... i havent got it! A gestured that could be perceived in thousands of ways.

Its hardly as if Pannu is the main profiteer to make such an arrogant distasteful gesture. Hes a DIRECTOR of the group anyway, it would be stupid to drive the club into the ground as its not in their interests at all to lose everything, or those of the investors.

We got relegated, and our owners arent oil sheiks.

Get real... i still think we're stable enough not to go into freefall! (even though the squad is very thin, esp without mutch)

The singings have been fantastically shrewd, and saved a shedload... hopefully in time we will se re-invested, remember Yeung built an empire from nothing, and im recon Pannu maybe has the know how to get him off the hook, or cover any discrepacy that might have occured.

Newcastle were lucky to retain most players in npc, as we have been on previous relegations to go straight back up. Maybe a taste of real life this season! We still saw our team win at Wembley & have european football to look forward to tommorow!

See you tommorow, im in the tilton behind the goal!

KEEP RIGHT ON.

I'm so cheesed off with all the anti-CY stuff that I phoned up and spoke to Mark Regan earlier.

I labelled myself as one of the silent majority of CY and PP fans - in order to change the feeling of fans you've gotta throw in some propaganda of your own

KRO SOTV !!

Great post Ed

SCT, thanks for the compliment

good to see a few other fans on here finally talking sense

KRO

http://www.ja606.co.uk/comments/viewAllComments/18439

Not my OP, but the 9th comment, the one that starts "We had no debts,"

That was my finest hour.

Steve i see what u mean

Do you mean the part of comparing Ecks XI in that 9th place finish to the one last season.

You made one error though, Chucho only played about half the season at 4,4,2 McLeish did drop him and went back to his 4,5,1 and that 4,5,1 was near identical to the one he used near every game last season.

Money was spent, but as always a lot of money Eck spends on signings never hardly get used.

And your right we did get into debts over those signings and the ones left by S&G, remember the £11M liabilities left over from the old board (money owed on players) this was because Sully and Gold brought many players on the knock, McFadden cost only £2.5M upfront.

Sadly it seems maybe Yeung never picked up the tab for many of those, so that debt with the money spent compared to income led to debts on the club.

Not bad while in the Prem as many clubs carry debts, but Relegation cost us.

But worse was Yeung getting arrested.

I dont think Yeung and his crew had bad intentions for the club, and i beleave that Sully and Gold was more knowingly fleecing the club for cash, by that i mean they made a fair buck from it because of how we was ran.

Yeung however never had a clue how to run the club and never had the money to take the debts the club would carry.

In a nutshell he simply bit off more than he could chew and never all along wanted to fleece the club.

The KiD

As far as Panu waving his wallet etc....

Well where is the proof?

Is its just hear say, because if he indeed did that then he is nothing but a rat bag

Or very stupid and niave as that would alienate and hurt the relations with the fans. I dont think he would be so silly.

Then again he did have a rant at stay away fans, and said something like if you dont like whats going on/give positive support, dont go to games etc., and i think he also said go support someone else.

Not sure if thats word for word, but thats kinda the Jist!

What we really needed was a Yeung without his dodgy past, who had the back room staff that Sully had (i.e Brady) and had Sully and Golds Wealth at their peak.

Then we would be in a good position.

The KiD

As many of you know I am not a big fan of the current board and as far as I am concerned the sooner they go the better.

However I was there last week when Pannu did that, it seemed a bit tough in cheeck to be fair to him. A few fans starting singing wheres the money and he got the money out of his pocket and started laughing as he was waving it. He thought it was funny but a few people took it the wrong way, but I saw it as a bit of a laugh.

As I say though I think Pannu is a liar and the sooner he and Carson get out of the club the better.

If Yeung and his consorteum bankrupt the club by taking money out they will lose most of the £81m they spent buying the club from Gold and Sullivan. So unless they've managed to take out £81m, they're not going to take out large sums of money.

I've done some reasearch on the internet and made a spreadsheet looking at transfer fees and players wages. The numbers are aproximate because transfer fees and wages are unconfirmed.

At the end of the 08/09 season the debt (under Gold and Sullivan) was about £7m We then bought Dann, Johnson, Ferguson, Michel, Gardner and paid loan fees for Traore, Benitez and Hart. The wage bill was about £37m and at the end of the 09/10 season the debt was about £21m. We then bought Foster, Zigic, Beasejour and Davies and paid loan fees for Derbyshire, Hleb, Jiranek, Bentley and Martins. The wage bill was about £43m and at the end of the 10/11 season the debt was about £33m. This season we have sold Johnson, Ferguson, Michel and Gardner. All the others were at the end of their contract and were released for £0. We loaned out Foster and got compensation for McLeish and the debt is still about £15m.

The money has gone on buying and selling players and paying their wages.

There is no doubt in my mind that Yeung didn't know what he was getting into and has made some naive mistakes. The biggest was running up a £33m debt. Although I'm suspicious of why a bloke from Hong Kong woudl buy the Blues, correcting last years mistake by selling players and balancing the books is the correct thing to do.

Although this leaves us with a weak squad, we have the parachute payments and biggish crowds for the Championship (and biggish gate receipts) meaning we can still pay higher wages. This advantage may not show this season because the squad has completely changed but it will over the next 2 or 3.

Good points

Yes debts have crept up on us, and dont forget there was a lot of money owed on players when Sully and Gold Left.

We did not pay £5M for Johnson cash, or £4M for Dann, remember £6.5M Heskey well he only cost us about £3.5M in the end.

Thats how Sully and Gold kept the books low and showed Profits, for example a Zigic under them would have been £3M cash plus installments and addons.

So on last seasons books would show £3M paid out and not £6M

The major concerns are that the club is brought on the knock, and not cash by Yeung, and it seems he does not have much in assets or cash (why else would he have to raise extra cash by selling shares and also loaning off his Property Portfolio.

Paying £30M+ to much for the club will instantly mean the club is £30M loss on its assets.

He has been arrested for dodgy deals and i think he does perform a lot of shady deals and ways to do business inc using other names.

Maybe he indeed owns more than 26-29% thus a number of this share holders who have shares but remain silent could be no more than Mr Yeung in different company names.... sounds odd but he is convicted of swindling tax on money inc paying some in his farthers name.

It would also explain how when money is needed, it comes from Yeung and him only and not from any other share holder.

The KiD