Decision time?Despite another three points on the board, with the loudest cries of the day demanding the owner to take leave of his current involvement at Newcastle, the latest article in the News of the World suggests Toon fans might get their wish sooner rather than later. The paper claims that Mike Ashley is ready to reopen talks about selling Newcastle next month.
Despite the no-show of funds from previous prospective buyers, NoTW claims that new parties, including one from America, have made contact. Their inference is that relinquishing control of the club would allow him to concentrate on the forthcoming case with the Serious Fraud investigation over alleged price-fixing. And presumably a selling point would be that new owners would have time to invest and help ensure promotion to the top flight. (more…)
"All done" ... hmmApparently the Sheard-fronted Star Foundation has made a bid for Newcastle United and the group expect an answer this week. Sheard claims the matter is in the hands of lawyers with Halliwells representing the Americans and Travers Smith representing Ashley.
Sheard claims it’s “all done”, saying:
“We will push it forward this week and it will be resolved. It’s all done as far as we are concerned.
“It’s all down to the solicitors now. There has been no contact with ourselves or Derek Llambias or Mike Ashley, just between legal teams.
“We are not aware of any other significant interest from elsewhere.”
Personally I am extremely dubious about this, although to be fair I’m dubious about all the politics surrounding Newcastle United at the moment. (more…)
No, not that sort of bond manSome newspapers are reporting that a South African businessman is now interested in Newcastle United.
I rather suspect this could be a case of ‘here we go again’ as bids are rumoured and then fall by the wayside but you never can tell with this sort of thing – very occasionally a rumour turns out to be true.
Anyway, this particular rumour has a wealthy South African bond dealer supposedly having met the representatives of Barclays Bank who are involved in the sale of Newcastle United.
This bond dealer is allegedly represented in this country by solicitors Mishcon de Reya and at least one journalist – the Birdman at the Mirror – claims a ‘form of due diligence’ has already been completed by the South African.
The Mail, however, seems to think that no due diligence has been undertaken and warns that we could face a delay of many weeks while it’s completed. (more…)
Uncle Fester meets Collina?North West sports businessman, Geoff Sheard has sensationally entered the race (if you could call it that) to buy Toon. Sheard was also involved in a unsuccessful bid to buy fellow struggling giant, Sheffield Wednesday in 2008.
Newcastle United’s Managing director, Derek Llambias gave some substance to the reports when he confirmed that Sheard is in contact with Seymour Pearce’s Keith Harris, who is brokering the sale. Llambias said:
“Geoff is dealing with Keith Harris and we are still waiting for proof of funds.”
However, the Sheffield bid was a long drawn out affair with no satisfactory conclusion, and it emerged that Sheard for merely a figurehead for other, secret interests, and was putting no money of his own into the bid. Darryl Keys, then chairman of ‘Wednesdayite’, a Sheff Wed fans group with a 10% share of the club said at the time (in terms eerily familiar to Newcastle supporters at present):
“The club can’t stay in limbo forever. We’ve had lots of assurances but no clarity or verifiable evidence that he can conclude the deal.(more…)
Moat still in the runningVarious media outlets are reporting that the takeover saga at Newcastle United is rapidly approaching its conclusion.
The Telegraph’s ‘source close to the board’ said:
“There are three parties now interested in buying the club from Mike Ashley of which Barry Moat is one and one thing in common for all of them is that the asking price is £100 million all ways round.
“Moat can now be considered as the outsider of three but if the business is not concluded by Friday then there is a problem and there is a good chance the club will be taken off the market.”
So from that report it seems that Moat’s chances aren’t too good. (more…)
