NUFC Statement.

Posted on August 24th, 2009 | 56 Comments |

Club Statement
Club Statement
It simply reads:

NEWCASTLE United Football Club confirms that it has extended its deadline to Barry Moat to table an offer for the Club.

The extension has been granted in order to allow Barry Moat and his advisors to conclude funding arrangements with Barclays, current bankers, for the continuation of last season’s £39m facility.

This would allow a formal offer to be tabled.

It does tell us that Barry Moat is probably the only remaining serious contender and that the Barclays overdraft/loan facility will be the deciding factor in whether or not a successful bid is tabled. If Barclays cooperate then I assume it’s just up to Ashley to decide whether to accept the offer or not.

NUFCBlog Author: Hugh de Payen I'm a baby-boomer of the punk rock persuasion, currently exiled in Somerset for crimes committed in a previous life where locals keep trying to poison me with something called 'scrumpy'. Hates sprouts, coat-hangers, Cilla Black, ornaments, Steven Seagull movies and 50 Cent (he's not worth 10). Hugh de Payen has written 634 articles on this blog.

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Comment on this post

56 Responses

  2. Reading between the lines (few though they are) though, I doubt Ashley would have extended the deadline unless everything else is to his satisfaction.

    That suggests to me that if Moat secures the loan/overdraft from Barclays he’ll be the new owner of the club.

  3. That’s what I’m reading too but I still feel like shouting out “what a load of old .cock!!”

    I won’t, however, as I’m still trying to make a good impression.

  4. Either way, it’ll be cutting things fine in terms of getting some new players in and I’m guessing that Ashley (maybe in cooperation with Moat, maybe not) will push ahead and get some players in anyway, or at least make some enquiries and line up a few targets.

  5. Hugh (4) I wish I had your optimism regarding new players coming in and our better players not being sold before the transfer deadline.

  6. Mags, I wouldn’t be surprised if more are sold but I would be surprised if more aren’t brought in, even if it’s just on loan. Even Ashley must be able to see we need to strengthen the squad if we’re to get through the season.

  9. Hugh, I truly pray you are right. As to Ashley or Moat, why do I feel we are doomed either way? Help me lift this depression, I have to somehow find my way back to the ‘half full glass’ scenario.

  10. Hmmm. Looks like a smokescreen to hide the fact that Ashley doesn’t want to spend any money on players. Its too big a coinsidance that the deadline ends so close to the transfer window shutting as to make it impossible to get anyone in. It also looks like this will push Steven Taylor over the edge and look for a move away.

    Ashley, you are a cockney idiot whom I suspect is only doing this out of spite!

  11. Purple Ronnie says:
    August 24, 2009 at 12:11 pm (Edit)

    Ashley, you are a cockney idiot whom I suspect is only doing this out of spite!

    ===

    It’s tempting to think that sometimes, but Ashley has a lot of money at stake in the club and, however incompetent he is, I’m sure he’ll want the club to do well – albeit without spending much money – while he’s the owner.

  12. Mags09

    ‘Hugh, I truly pray you are right. As to Ashley or Moat, why do I feel we are doomed either way? Help me lift this depression, I have to somehow find my way back to the ‘half full glass’ scenario.’

    Mags I feel the same. Something just doesn’t feel right regarding the Moat situation. Why would it take so long for Barclays to approve (or not) the transfer of the overdraft facility to Moat unless they had concerns at his ability to guarantee it. I don’t doubt they guy’s intentions as a Toon fan to want to own the club, but can he afford it and more importantly invest in it? If he had wealthy backers you would think it wouldn’t be an issue to guarantee the overdraft…. Oh well the soap opera continues

  13. Hey all – just posted this on .com – so its not aimed at the rounded folks on here – but this new Moat situation is bizarre – I find it astounding the Mob now campaign for a regime that appears to be going to be ran on a very tight shoestring (I am not fundamentally against prudence but the hiposrisy is maddening)

    “The incredible naivety of many on here astounds me.

    You have campaigned for Ashley to be out – your best scenario here is ASHLEY STAYS. The reasons are simple and straight forward.

    Moat has been haggling over the price.

    Moat has not got ready access to a personal guarantee from himself or his backers to underwrite the 39m facility.

    Being the buyer Moat has delayed the purchase till late in the window so he has no time to bring other players in – he knows the consequence of the delay – yet he has failed to act – his motives are cost cutting.

    These facts are not a fiction – they are played out for us right now in front of our noses – yet many shout abuse at Ashley! Im aghast and incredulous at how stupid they are.

    Players are being sold as we speak – Moat is to be the buyer – dont think for a second this is not in line with HIS wishes. If it was not – he would be saying to Ashley I will not buy if so and so is sold.

    All of this smacks of a new regime that will operate on a shoestring short term (or longer) – the very thing you have campaigned against (in the absence of evidence – and now when you have evidence you blame the wrong one (Ashley) again!)

    Barry Moat is not your answer – Ashley would be better staying and appointing Moat chair. At least that way the club has someone with real clout to underwrite our losses – and maybe get the communication to sort the kneejerking fans out.”

  14. Worky – re the Billy Bunter outing Batty’s name – just so youre aware for your own peace of mind, I didnt abuse any data from this site – it was a private email sent to me BEFORE the site was operational – the same type of email Deb etc sent.

    .ORG is in the clear – blame it on me – theres no offence under any law there.

  15. Deb,

    I think we sometimes forget how huge the figures are that are currently being mentioned. All the money that is now floating around in football has made us all think that £5m is peanuts, when not many, if any, of us will manage to take home £1m over our working life time.
    I really don’t want to sound condescending, especially as I’m stating the obvious, but asking for a £39m overdraft is probably harder than trying to persuade them to up your overdraft by £500 to get you over Christmas. :-)
    I decided that whatever happens, happens and seeing as there’s nothing I can do to influence the outcome then what’s the point in worrying?
    Apathy rules! or not I don’t really care. :-)

  16. To be honest, it’s been such a mess over the last two years, that I don’t want to analyse things again, I just want someone new. Build from the bottom and to be honest money isn’t an issue. Ashley isn’t going to bankroll us if he stays and it’s not entirely necessary anyway, so I’d prefer someone with the appetite and nous for running a football club to come in. I have no idea who that is but I’m willing to give someone else a try.

    Some of the finanacial ethos (whatever the motive) brought in by this regime was sensible and most people recognised that but on the whole, everything else was shoddy and unprofessional. They came, they saw and they relegated us. The relationship with the fans is irreconcilable.

    Next please!

  17. Well I can usually see both sides of a thing and, I think, I’m pretty good at taking a balanced view.

    However, I make no bones about this: I want Ashley out. He is *singularly* responsible for the mess this club’s in (oh yes he is!) and I don’t want him screwing things up further while he just waits for the next window of opportunity to sell the club.

    Exceptions to that? Maybe. If Moat *really* can’t afford to buy the club then I’d rather Ashley didn’t sell to him. But if he can genuinely afford it – and as yet I have no reason to doubt he can except for speculation on this site – I’ll take my chances with him, even if it means we have to run on a tight budget for a while. We’d have to do that under Ashley anyway, so we may as well take our chances that Moat couldn’t possibly be as incompetent at running a football club as Ashley.

  18. Hugh

    Hope you are right, agree – it cant possibly be worse with Moat (or could it?).

    The doubt I have at this moment is, can Moat really afford to buy Ashley out?
    “….to conclude funding arrangements with Barclays…”, to me, it sounds like Moat is up to his economical limit already?

    And if that is the case, what good would come out of such a deal, a new owner with little, or less money to spend on new players and wages to get us back to the Prem?

  19. Olle/Sweden says:
    August 24, 2009 at 4:09 pm (Edit)

    The doubt I have at this moment is, can Moat really afford to buy Ashley out?
    “….to conclude funding arrangements with Barclays…”, to me, it sounds like Moat is up to his economical limit already?

    ============

    What I don’t understand is why Ashley needs a £39m loan/overdraft facility in the first place. I’m guessing that he, being a billionaire, can cover it but it seems he’s not prepared to pay it off.

    This is another thing that warps perceptions a bit. There have been a few high-profile billionaires buying clubs – at Chelsea, City, even Newcastle etc. – but they don’t grow on trees.

    A football club is a lot of money for a mere millionaire and most potential buyers would need to be backed by investors and banks to buy a club.

    I don’t think that bit is either unusual or worrying. If Moat’s financial plan isn’t sound he shouldn’t be bidding for the club and in that case I would imagine Barclays will scupper the deal anyway. If Barclays approve it, that would indicate to me that Moat’s plan has merit.

  20. Even the guys at City didn’t use their own money.

    They borrow from banks. They don’t like using their own cash as it will make them more money through their other investments.

    If he didn’t have a credible business plan he would have been laughed out of the bank already.

    Also he must have the funds as he would have needed to provide proof that he had the cash!

  21. bowburnmag says:
    August 24, 2009 at 1:27 pm

    “To be honest, it’s been such a mess over the last two years, that I don’t want to analyse things again, I just want someone new.”

    Bowburn, how can you write ‘blogs on Newcastle United if you can’t be bothered to analyse things? That’s the whole point. ;-) BTW on your assertion that Chris Hughton doesn’t want to become the manager of the club, here’s a quote from Hughton himself:

    “If they offered me the job, would I take it? Yes, I would”.

    Stardust,

    I never thought that you did. All I did was defend the site against people making erroneous and potentially damaging accusations about it.

    Stuart79 says:
    August 24, 2009 at 4:49 pm

    “Even the guys at City didn’t use their own money.

    They borrow from banks. They don’t like using their own cash as it will make them more money through their other investments.”

    Yes, that is a good point, Stuart. There’s more than a kernel of truth in that.

  22. worky – when did I say I couldn’t be bothered? I just said I don’t want to and that only goes for the review of why Mike is awful at owning a football club because we’ve done it to death. I’d like to analyse the football instead.

    stu – That was always my assertion about Ashley to be honest. I never saw him as being here to make a quick buck as there are far better ways to do it but I don’t think he took it all that seriously and by the time he did and wanted damage limitation on what he’d invested, it was too late. A number of bad mistakes and poor decisions later and here we are.

  23. bowburnmag says:
    August 24, 2009 at 6:36 pm

    “worky – when did I say I couldn’t be bothered? I just said I don’t want to and that only goes for the review of why Mike is awful at owning a football club because we’ve done it to death.”

    Bowburn, with all due respect, you’ve just prejudged the answer in your question, so that isn’t impartial analysis, it’s just looking for evidence to support an an existing prejudice. The two shouldn’t be confused.

  25. Doocey says:
    August 24, 2009 at 7:58 pm

    “Stop the handbags lads!

    When do you think we can expect an announcement?”

    Doocey, I do Socratic debate, not ‘handbags’ if you don’t mind!

    We’ve just had an announcement. :-)

  26. worky – Surely that was my conclusion rather than a prejudgement? Is there not enough evidence to suggest he’s managed a pretty rank job at it?

  28. hugh, re post 19 i totally agree and cant understand this 40 million overdraft!! why is this needed when the wage bill has been nearly halved and the fact that we have brought in nearly 25 million this summer with nothing going out, thats not including the previous savaging of our squad(selling given,milner,nzog and faye and bringin in crap to replace). the man is a complete shambles and i cant believe i fell for his tripe for so long!! he has and is continuing to help destroy this club by makin the club unsellable, not investing in 1st team(which he has never done adequately) and by selling our better players…..everythin is rosy now beacause we are winning and massive credit is due to chris(even tho i am not a fan) and many of the players. but what happens when injuries occur or when competition for places is needed…. we will be screwed and once again ashley is showing he has completely null foresight(one of the main reasons we got relegated in first place)

    phew…needed to let out some steam….delighted that we are finally winnin again and am once again lookin forward to the games

  30. bowburnmag says:
    August 24, 2009 at 8:08 pm

    “Is there not enough evidence to suggest he’s managed a pretty rank job at it?”

    First, you must decide what is admissable as ‘evidence’, Bowburn.

  35. Because of Mike Ashley.

    Debating with you is easy works ;)

    Ah look worky, you know I appreciate there are some morons out there purporting to be ‘supporters’ who do more harm than good with their actions but I hold Ashley responsible for where we are right now. Even considering all of the many factors which have quickened our demise. It’s really as simple as that.

  36. bowburnmag says:
    August 24, 2009 at 9:02 pm

    “but I hold Ashley responsible for where we are right now”

    Bowburn, people beleive all manner of things, it’s the reasoning behind it that’s important. Why do you hold Ashley responsible?

  37. worky

    he lied if he had been clear with everyone that kk didnt have full say then every one would have known the score and then when kk quit the only person possible to blame would have been kk

  38. Ashley is 100% responsible.

    Others might be open to serious criticism for their actions but the ultimate responsibility falls on Ashley’s shoulders and, to be fair to the man, I think he accepts the responsibility for his mistakes.

  39. Hugh de Payen says:
    August 24, 2009 at 9:38 pm

    “Ashley is 100% responsible.”

    Yet none of you seem to have any supporting arguments or evidence for your assertions.

    ’69 what evidence do you have to support yours? Red-Top piffle from alleged “sources close to…” and “insiders” doesn’t count BTW.

  40. Worky: “Yet none of you seem to have any supporting arguments or evidence for your assertions.”

    Yes I do. In fact I have irrefutable evidence: he owns the club.

  41. Hugh de Payen says:
    August 24, 2009 at 9:57 pm

    “Yes I do. In fact I have irrefutable evidence: he owns the club.”

    So would you say, Hugh, that every time a club gets relegated, it’s the fault of the owner 100%?

  42. worky – in no particular order……

    a) trying to mix and match approaches with a DOF and contintental hierarchy but bringing back an old-fashioned manager just because he was popular (did anyone really have KK on their list of replacements when Allardyce went?)

    b) also not having a contingency when getting rid of Fat Sam (as popular a decision as it was).

    c) messed Keegan around and destablised the club at a crucial juncture (based on trust which KK earned from me).

    d) rank bad communication throughout his regime.

    e) underestimating that his ‘hobby’ and desire to “have fun”, rested on the passion and love of thousands of supporters and he never seemed to consider the consequences.

    f) didn’t show any bollocks at a time when our ‘leader’ needed to throughout the last 13 months

    g) failed to get ‘football men’ on board.

    h) reacted slowly and amateurly in replacing KK.

    i) reacted poorly to replace JK

    j) not doing due diligence

    k) he’s a Cockney wideboy

    l) k is a joke

    BUT buying us on what appeared to be a whim, subsequent poor implementation of an otherwise decent business plan and poor and untimely decisions means it’s his fault overall I’m afraid.

  43. I should also have mentioned that he alienated us slightly by bringing in unpopular figures from the game and also the board and management has acted unprofessionally on a number of occasions.

  44. workyticket says:
    August 24, 2009 at 10:00 pm (Edit)

    So would you say, Hugh, that every time a club gets relegated, it’s the fault of the owner?

    =====

    Yes I would, ultimately.

    As I said a few comments ago there may be a place to *criticise* others because people are also responsible for their own actions but the ultimate responsibility for Newcastle United Football Club is Ashley’s.

    Look at it this way: who is responsible for this blog?

    It’s you isn’t it? Let’s say your web host screws up and we lose the blog for a while. Sure they deserve some criticism but do you think that people will give a stuff who you lay the blame on? As far as they’re concerned you chose that web host and if they aren’t good enough you should go elsewhere.

    You, as owner of this blog, have to step up and take ultimate responsibility. Nobody else. You have all the big choices.

    See what I mean?

  45. I know Workeyticket but I wouldn’t call that 10 lined composition an announcement as such.
    I reckon we might be stuck with Ashley, hope I’m wrong.

  46. A and B may have some merit, however most of the rest are just subjective assertions again without any real evidence to back them up.

    as for d, that may have some merit too, but how many other clubs require the same level of communication as Newcastle seem to?

    as for H, Joe Kinnear was the only person who had the balls to manage the club, no other managers wanted to come here and face the hatred.

    What do you mean by “Football men” exactly? People like Chris Hughton, Colin Calderwood and Dennis Wise are football men, even if you don’t have any respect for them, it doesn’t mean they don’t know anything about football.

  47. Hugh de Payen says:
    August 24, 2009 at 10:12 pm

    “Let’s say your web host screws up and we lose the blog for a while. Sure they deserve some criticism but do you think that people will give a stuff who you lay the blame on?”

    If this website were a large financial concern, and I lost a large amount of money though my webhosts taking my money and not fulfilling their contract, then I would get one of my lawyers to sue them and let the court decide whose fault it was. Simple!

  49. On the board, I meant we needed football men on the board. I like and respect Hughton. Calderwood slightly less so. I dislike Wise and found it difficult to prevent that clouding my judgement. But I never really had a problem with him being part of it even though he’s not my favourite person. I don’t think it’s clear what the roles were but then that’s an assumption. Based on that I wouldn’t blame Wise but Ashley for not getting the roles and the mix right.

  50. bowburnmag says:
    August 24, 2009 at 10:44 pm

    On the board, I meant we needed football men on the board.

    Bowburn, Richard Money is a football man, Jeff Vetere is a football man, Dennis Wise is a football man. Did you just mean Llambias?

  51. Worky, I think you and I, whilst obviously not in agreement, are coming at things from different angles too, which confuses matters even more (mine being the correct angle obviously ;) ).

    Anyway, I’m knackered and off to bed (and I’ll be having some sharp words with the dog on the way!).

  52. Partly, he seems to have too much say without understanding the industry. Also I just felt like Wise wasn’t utilised properly. Money is good but he’s a training ground and round the games kinda guy. In fairness, I possibly never properly understood the role of Vitere and the other guy who’s name escapes me. I just felt like the club hasn’t been able to do the simple things. Not sending reps to charity do’s, double-booking on Sir Bobby’s exhibition game. I’m tired and probably starting to lose the debate! I’m off to kip shortly! ;)

  53. bowburnmag says:
    August 24, 2009 at 10:44 pm

    “I dislike Wise and found it difficult to prevent that clouding my judgement. But I never really had a problem with him being part of it even though he’s not my favourite person. I don’t think it’s clear what the roles were but then that’s an assumption. Based on that I wouldn’t blame Wise but Ashley for not getting the roles and the mix right.”

    Bowburn, if you’re judgement isn’t clouded about Dennis Wise, then why did you mention you wouldn’t blame Wise or Ashley, and yet you didn’t mention Keegan as part of the threesome?

  54. Hugh de Payen says:
    August 24, 2009 at 11:13 pm

    “Worky, I think you and I, whilst obviously not in agreement, are coming at things from different angles too, which confuses matters even more (mine being the correct angle obviously ).”

    Hugh, you don’t seem to realise that I’m not arguing with you, I am merely testing the foundations of your reasoning. It’s the same with Bowburn too.

  55. Well if we want to test our reasoning we ought to be placing everything within a foundation of formal logic, which is tedious but it’s the only real way to establish whether reasoning is well-formed or not.

    Otherwise any conclusions about reasoning are merely subjective.

    We can’t always establish the truth or falsity of a conclusion but there are prescribed ways to establish whether or not the reasoning that leads to that conclusion is sound.

    Why am I talking about logic on a Newcastle United blog at 11:30PM? I really must need some sleep.

  56. bowburnmag says:
    August 24, 2009 at 11:14 pm

    “I’m tired and probably starting to lose the debate!”

    No, you’re getting much, much better, and as I said to Hugh, I’m not arguing and I don’t necessarily have a completely opposed view.