Cleared debts?
No, he's just transferred the debts into a £110m debt to him, which despite him already taking £11m out of the club, has yet to reduce the overall debt to club owes him.
He's also yet to pay for any advertising, of which the club is losing out on other potential businesses paying for that advertising space.
When a club owes 140million to you know, a bank, with a due date and charges you 6.5mil of interest a year(the interest when he took over) then you eventually default and then.... you know, lose the club.
He "transferred" the debt in so much as he paid 140mil to the people you owed money to so the club no longer owed that money and the risk of outside entities being able to shut down Newcastle disappeared.
This is where I get irked with fans, he HAD paid well over 100mil now(I'm under the impression it's 140mil at least) to creditors and it's incredibly normal(bolton, blackburn, Chelsea, City, multiple others) to have this debt as equity. Firstly it means if the club gets sold then the owner can potentially get that money back, second, it means almost certainly some tax breaks and various ways it helps. Charge the club say 5mil interest, then if you make a 5mil profit, charge the interest, be break even and pay no tax on the profit.
On the off chance that some rich arab oil tycoon comes in and buys the club, with a face value of call it £150mil, if he wipes out that debt, then when he sells the buyers will say it's worth £150mil, he's say "but I gave them 100mil can't I have that back" and they'll laugh in his face. Having that debt recorded on the books means if he does sell to someone rich, then after buying the club for £150mil the new owners WOULD owe him the 100mil back. Is it that terrible that it would happen, considering, you know, he actually did put that money in. Owing money to your owner in this way is normal, is entirely fair and is no risk. The same debt owed to a bank or other clubs can result in all kinds of sanctions or the club being shut down.
To write off the amount of money he's put in just because it's still on the books is simply delusional.
Taking 11mil out of the club, vs putting 140mil in, and the fans get upset... ridiculous. At this point you'd need to see him taking 140+million out of the club before getting upset about an owner taking money away. As in, it's literally rubbish before then.
Commercial turn over, lol, commercial income is CRAP at clubs outside of europe anyway. Norwich's 11/12 records show they got 6.7mil in sponsorship, the rest of the 15mil came from catering income and from concerts and other events held at the stadium. It's about 11mil for catering + sponsorship, Newcastle's was about 14mil the same year and went up 25% to 17.x mil for last year, with roughly the same expected growth this year.
Every time I see the "we were in the champs league not that long ago, we have no ambition" I want to slap people. You got in the champs league by spending beyond your means, you got into serious financial trouble and the dropping down the table and relegation was largely a result of that. A man saved your club from being shut down, you now complain because that man won't spend the same reckless way again which resulted in all the troubles you've been in lately.
