Do any of us still doubt Xia’s financial clout?

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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.

10 Comments

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  1. OriginalLondonLion
    OriginalLondonLion September 13, 2016 at 12:30 am . Reply

    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.

    1. OohAhPaulMcGrath
      OohAhPaulMcGrath September 14, 2016 at 12:40 am . Reply

      Money laundering??

  2. Richard Kirby
    Richard Kirby September 13, 2016 at 3:35 pm . Reply

    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.

  3. Dave.C
    Dave.C September 13, 2016 at 11:10 pm . Reply

    Newcastle are on fire right now, they’ll be out of sight soon, along with Barnsley!!!

  4. Hitchens 60
    Hitchens 60 September 14, 2016 at 7:58 am . Reply

    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?

  5. giddyvillan
    giddyvillan September 14, 2016 at 8:03 am . Reply

    A win tonight will only take us up a couple of places, we need 3points I have draw written all over this one.

  6. pat57
    pat57 September 14, 2016 at 9:36 am . Reply

    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.

  7. Bill Pearson
    Bill Pearson September 14, 2016 at 9:14 pm . Reply

    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.

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