Topic: RIP sale thread.

[Tooj]

http://www.journallive.co.uk/north-east-news/todays-news/2009/09/19/nufc-admit-100m-is-on-table-for-club-but-overdraft-is-stumbling-block-61634-24727668/

NUFC admit £100m is on table for club - but overdraft is stumbling block

NEWCASTLE United last night confirmed the £100m asking price for the club had been met – but there are fresh indications that current owner Mike Ashley is planning to stay.

The club issued a statement to The Journal which said: “The £100m asking price has been matched, however, we are still in negotiations and all parties involved are at sale and purchase stage.”

The chances of a speedy resolution to the takeover saga are thought to remain slim with Ashley closing in on a deal to secure a new, and much-reduced, overdraft facility with bankers following months of talks.

Sources say that in recent days there has been “renewed urgency” in the club’s talks over a new lending deal which will see the club’s borrowing capacity reduced from £39m to around £25m.

This would provide Newcastle with security for this season, and Ashley is increasingly pinning his hopes that the team’s current on-the-field success will improve its long-term value, and make it more attractive to purchasers a few months down the line.

The Journal understands that local businessman Barry Moat is behind the £100m offer mentioned in last night’s statement. However, it is understood the overdraft facility he is being offered by Barclays is less than that on offer to Ashley, which could prove a major stumbling block.

Sources have also confirmed there are two overseas parties still in talks with the club over a potential offer, with both having progressed through the due diligence phase.

[Greg]

“It has been catastrophic for everybody. I’ve lost my money and I’ve made terrible decisions. Now I want to sell it as soon as I can . . . advisers will be appointed shortly.”

“Of course I regret it. I never said I was an expert in football clubs. I was just a fan – although a very wealthy fan. But I’m not so wealthy now. I put my money into it and I tried my best. But I accept my best was woefully short. I am genuinely sorry for everybody about what has happened.”

[Tooj]

Dave's lass is right like. Faster than Superman.

[Dave]

Finally it speaks, and that's that then.

Let's just hope it's done quickly and the next lot have much more of a clue.

[Frazzle]

Seems silly selling now, why appoint Shearer?  The new owners may hate him.

Let's hope that rich Norweigan bloke buys us.

Scandanavian mags!  What's his name?

^^ my post from the other thread.

[joeyt]

 

[Tooj]

NM Roth-schild. Aren't these the blokes that according to Parky rule us all?

[Dave]

Seems silly selling now, why appoint Shearer?  The new owners may hate him.

Let's hope that rich Norweigan bloke buys us.

Scandanavian mags!  What's his name?

^^ my post from the other thread.

Shearer hasn't been appointed though.

^ my post from the other thread.

[Jayson]

No doubt he'll somehow make this drag out for weeks and weeks to well and truly f*** any preperation time we could have had

[Lorry In Boat]

Bang goes a steady summer to get ready for the new season

[Frazzle]

Seems silly selling now, why appoint Shearer?  The new owners may hate him.

Let's hope that rich Norweigan bloke buys us.

Scandanavian mags!  What's his name?

^^ my post from the other thread.

Shearer hasn't been appointed though.

^ my post from the other thread.

My second post from that thread:

Says this though:

"The news comes as talks to give Alan Shearer, the care-taker manager, a full-time contract to rebuild Newcastle United were continuing this weekend."

Now stay in here man!

[Pilko]

No doubt he'll somehow make this drag out for weeks and weeks to well and truly f*** any preperation time we could have had

This. Somehow I think we'll see something similar to what happened when he appointed Kinnear - he'll say things are going well to selling the club but in actual fact, they aren't.

[ikri]

Needs to be a really quick sale to someone with plenty of cash to spare, not just to fund the rebuilding of the squad but to ensure that the club isn't saddled with a huge debt to Ashley for years to come.

[Decky]

Well Ashley could well kick us when we are down with this. We need a manager and a complete squad overhaul, will Ashley bank roll all of that if he wants out? How long will a take over take? I hope to f*** we are not sitting waiting for the next month or so until this is done, we need a manager and transfer movement NOW not in a few weeks.

[Dave]

One can only assume Shearer knows all about this btw. Is that a positive? He'd have walked already if there was a chance of things going tits up, surely?

[Tooj]

I don't believe it mentions anything of the loans Ashley has given the club though.

[Stifler]

Sounds like more media bull to me.

I mean, they have gone a few days without rubbing it in our faces, and now want to do it again, so they tell stories again.

One big cheer for the media.

Yes of course he will want out at some time, but I think it's still all media bull at the moment.

[Dave]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

[Dave]

Sounds like more media bull to me.

I mean, they have gone a few days without rubbing it in our faces, and now want to do it again, so they tell stories again.

One big cheer for the media.

Yes of course he will want out at some time, but I think it's still all media bull at the moment.

A broadsheet wouldn't be making up direct quotes man.

[Tooj]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

Let's just hope they do their due diligence.

[Dave]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

Let's just hope they do their due diligence.

Which could take how long...?



We're f***ed man.

This has now reached SSN btw.

[Tooj]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

Let's just hope they do their due diligence.

Which could take how long...?



We're f***ed man.

This has now reached SSN btw.

Must be untrue then.

[neesy111]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

thats true, things are better now as long the savings in the club are met over the summer, which if we get rid of our 10 highest earners will happen

[neesy111]

mind you that's a big IF

[Dave]

I don't believe it mentions anything of the loans Ashley has given the club though.

Aren't some of the loans we currently have set up in the same way they were before - ie they are called in when someone new takes over? Depending on their size this may put potential suitors off.

The financial mess Ashley walked into is sure to make anyone interested think twice too. Are things any better now?

Let's just hope they do their due diligence.

Which could take how long...?



We're f***ed man.

This has now reached SSN btw.

Must be untrue then.