Keegan demands £25m … well, maybe.

Posted on September 25th, 2009 | 20 Comments |

£25m please
£25m please
According to The Sun (titter ye not) Kevin Keegan is demanding that Mike Ashley pays him £25m to settle their compensation battle.

The figure includes £9m payable for the remainder of his 3 and a half year contract with Newcastle United plus £16m as compensation against the loss of future earnings.

This is of course the sort of thing that fuels fears the club will go into administration.

A ‘source’ apparently said:

Keegan is crazy. Does he really want to bankrupt Newcastle?

It is madness to think he should be paid that much but perhaps he sees this as a last big payday.

For a bloke who says he loves the club, this is all very, very strange.”

I will eat my hat if Keegan is awarded £25m and I’m really quite fond of my hat. £25m is a significant proportion of the club’s value and there’s no way I can see Keegan justifying such a payout, no matter how wronged he may have been by the club.

I am hoping – and in fact strongly suspect – that the bandying around of such extreme figures is just sensationalist journalism, as is the idea of administration.

If the club entered administration, Ashley would not simply be able to write off £250m as a tax loss because the administrators would first look at a way to settle with creditors (Ashley and Barclays mainly) whilst keeping the club going and I think there are plenty options in that respect.

If you’ve detected a bit of wishful thinking from me in that last paragraph you’d be right but I still really do think this talk of administration – and of £25m payouts – is bunk. I can see Keegan getting his £9m and maybe even a couple of million extra, but not £25m.

Anyway, the tribunal gives its deliberation today, so we should find out soon enough.

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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20 Responses

  1. Well who ever has let this info out of the club has really achieved what they wanted – Almost all media are reporting armaggedon for us if KK wins.

    Don’t be suprised if the club win now!

  2. “For a bloke who says he loves the club, this is all very, very strange.”

    Is more or less, the rhetoric we hear from our own supporters who have already hung him out to dry on blogs all over the web. So this either serves only to represent those views or to fuel them. It’s very cynical of me but I wouldn’t necessarily rule this out as something more personal intended purely to tarnish his reputation further amongst detractors or those undecided.

    Do any of us yet know any of the details? Particularly the amount he is pursuing or what his real agenda is? Today’s verdict will be interesting and I’m more than aware that while we can once again help to celebrate the life of a black and white legend tomorrow, today could be the end for many in their adoration of Mr Kevin Keegan. But I won’t believe it just yet and so stories like this can sit on the backburner.

  3. This story is absolute garbage.

    At best, it’s lazy journos sensationalising to sell papers – at worst its the true side of Ashley and his cronies – fighting dirty, setting out to discredit a United legend who was instrumental in putting the name of Newcastle United on the map for all the right reasons.

    In comparison, the club is now a shadow of it’s former self due to Ashley’s inept bungling and total mismanagement.

  4. “Look yonder, it be FranKKenstein’s Monster!” (…then whispering between frightened villagers…) “I hear said our insane, demented, blood-soaked, cannibal vampire Lord Ashula is tellin’ us it be FranKKenstein’s abomination, and not himself, whose been eatin’ our chillun, drinkin’ our blood and squandering out taxes all these years after all..?” (further second for thought…)
    “Kill the Monster..!!”

    Never overestimating the intelligence of press, pundits, bloggers and fans alike is probably the only thing Ashley has consistently got right during his blithering incompetent tenure. To have now succeeded in planting fear and division via this half baked bit of fabrication would have impressed even William Joyce. This ruse (almost, but not quite) ranks alongside foisting a clue-less, foul mouthed sheepskin jacket wearing Mike Bassett-esque lunatic on 50,000 supporters and (somehow?) passing him off as a bona-fide Premier League manager for a goodly part of last season.

    George Cole RIP!

  5. Ashley’s “Red-Top” buddies out to do him a favour I see. This man has all the grace and decorum of 8 monkey’s fighting over 7 bananas.

    To those who believe this “News” here’s another flash for you: There’s no such thing as Santa Claus, it’s your Mam, not the tooth fairy, that puts money under your pillow and, yes, Jordan really did love Peter!!

  6. I wouldn’t be surprised if this story was instigated by Ashleys convicted wife beating friend Rob Beasley.

    Sounds to me like the man Ashley is almost at Panic Stations.

  7. I think even Stardust and Michael12 would laugh at this story to be honest.

    Jinks, enjoyed that mate :)

  8. if its reported in the papers it must be true i mean remember all the other things that came true that was reported in the papers such as

    nufc to sign ronaldinho
    nufc to sign henry
    bin laden to buy nufc
    ambani to buy nufc
    nufc to sign eto
    nufc to sign berba
    kk to get 50 m to spend on players

  9. Just finished an illuminating ride in a London cab. Once the cabbie had me pegged as a Toon fan, he related the following story: A Bromley fella, working in Newcastle as a scout for Ashley, leaped hastily into the back of the cab this week and demanded the cabbie make haste to Stamford Bridge.

    “Why?” said the driver “You’ve missed the first half, mate!”

    The flustered man explained he’d been sent, from Newcastle, to report on QPR’s form and compile a dossier on who to watch out for. All had gone well, he checked into his swanky hotel at St. Catherines Dock early. He then asked what the quickest way to Stamford Bridge was. Some wag advised him to make is way to Waterloo, catch a train to Wimbledon and make his way from there…tee hee. He did this…like a bonehead (hence the need for a cab)….and missed most of the game!

    Ashley’s hiring policy is nothing short of ludicrous!! How can a bloke from Bromley not know where Stamford Bridge is?

    The gentleman in question offered little in the way of any real insight: Allardyce was loathed as a vulgar, know-it-all by Ashley; Keegan was a total nightmare…always asking for money; Kinnear was a puppet; Shearer brought in the wrong friends (Dowie in particular seemed only to confuse the players) and fisticuffs in the dressing room after the Orient debacle. Also….Ashley is counting the moments ’til he’s able to get rid!!

    Now all this is Cabbie’s say so, second hand story, so it’s pinch-of-salt-time; but no less amusing for that.

    I’ll expect an admonishment from Worky at any moment.

  10. bowburnmag says:
    September 25, 2009 at 9:50 am

    “I think even Stardust and Michael12 would laugh at this story to be honest.”

    It wasn’t as funny as the Ashley conspiracy stories in some of the comments above Bowburnmag!

  11. bowburnmag says:
    September 25, 2009 at 7:17 am

    “I wouldn’t necessarily rule this out as something more personal intended purely to tarnish his reputation further amongst detractors or those undecided.”

    Keegan radgie! :-P

  12. Nicked from the TMS Inbox. Gave me a chuckle …

    “I once saw Mick Quinn play for Newcastle. Someone in the crowd shouted ‘Micky, how many Yorkshire puddings have you had today?’ To which our rotund hero retorted: ‘Only three, but they were biiiiiiiig ones!’ You just don’t get 16 stone moustache- laden comedy centre forwards any more – sigh.”

  13. workyticket says:
    September 25, 2009 at 2:12 pm

    “Keegan radgie!”

    I used to be a “Keegan radgie” too, not anymore though after this farce!

  14. If proven the man was fired, to pay him for the amount remaining on the original contract is not unreasonable.
    But as we are aware , once in the hands of lawyers, greed takes over and pain and suffering, future earnings, etc., whatever can be added to the bill, usually is.
    Can`t see a payout of the proportion mentioned.
    How will (any payout)effect KK`s legacy among supporters ?
    How will having to pay out millions effect the present season (especially if there is a points deduction involved) ?
    How will the eminent sale of the club to Moat be effected?
    (The eminent sale is tongue in cheek)
    The above black cab story, whether true or not, added to what we have witnessed and heard from various sources,
    only validates the chaos and mismanagement of the present regime.
    An oilman with Billions, A wealthy Yank, help !