pasports_news

Buyers run rule over Newcastle books

Thu 18 Jun, 04:10 PM


Newcastle are effectively in a holding pattern as prospective buyers continued to study the books.

Interested parties were granted access to the club's financial documentation on Wednesday having proved to the satisfaction of investment bankers Seymour Pierce that they have the cash to meet owner Mike Ashley's £100million asking price.

In that respect, there are bids on the table, although there is still a long way to go before any offer could be formalised or accepted, and sources close to the deal have indicated no announcement is imminent.

However, that does not mean progress is not being made, although the identities of the competing consortia and just how far down the line they are respectively remain a matter of some speculation.

Those parties who have reached the point of due diligence - the process of going through the books - have been required to sign non-disclosure agreements which prevent them from making any comment.

Indeed, only the Singapore-based Profitable Group has confirmed its interest, and that on June 10 since when there has been no further word.

At least four consortia are understood to have been in formal contact with Seymour Pierce chairman Keith Harris, the man handed the task of selling the club by Ashley, although it is understood several more may have made approaches.

Groups from South Africa, Oman and the United States, as well as Singapore, have been linked with the club, while former chairman Freddy Shepherd too has more than a passing interest in the race to buy out Ashley.

In addition, no deadline has been imposed and there remains the possibility the successful candidate may be yet to declare its hand, although the current regime is keen to complete its exit as quickly as possible.

Ashley's desperation to get out is understandable with the city's evening newspaper, the Evening Chronicle, reporting he faces another £10million bill at the end of this month to cover player bonuses for last season. In addition, it is understood the latest instalments of the deals which brought Damien Duff and Obafemi Martins to St James' Park are also due.

 

Comment 75 - 94 of 94

Sort comments by: Most recent

  1. imp-somebody might buy the toon,install shearer as­ manager,give him £20 million to spend! sounds daft eh,­ mind you a have heard a rumour brucey wants titus­ bramble!!!now that is a scream.

    From newcastleian1, on Fri 19 Jun 5:20PM

  2. OK Imp - here's a footballing question for you. Who­ do you think will be the first to get a job before the­ season starts, you or Alan Shearer?

    From Hutch, on Fri 19 Jun 5:13PM

  3. I waited 14 minutes for my abusive reply, if I'd­ known you where going to be nice I would have gone and­ done me messages, anyway gotta go devided's on,­ it's great at the end when they all try and shaft­ each other

    From john.connolly01, on Fri 19 Jun 4:57PM

  4. hutch 89,when,oh when are you going to start talking­ football,your just a bore at the moment,can you not­ think of anything more constructive.

    From impactclean, on Fri 19 Jun 4:57PM

  5. newcastle 68,not just ashley,he was sucked in,its the­­ whole rotten business,and that includes the players­ who­ take your money home in wheelbarrows.

    From impactclean, on Fri 19 Jun 4:52PM

  6. I think you'll find Mr Imp that I have never made a­ foul comment, never ever. Whereas you spend time­ cutting and pasting yours.

    From Hutch, on Fri 19 Jun 4:49PM

  7. connolly 87,thanks for your admission,your not a bad­ lad really,you need to break away from the other 2­ cretins though,your the only one of them that has any­ common sense.

    From impactclean, on Fri 19 Jun 4:48PM

  8. If I had a Manc accent I would more than likely support­ city I think but anyway, well spotted by you and you­ alone, you all alone.

    From john.connolly01, on Fri 19 Jun 4:34PM

  9. connolly 73,its ok mate we can tell by your manc­ accent,dead giveaway.

    From impactclean, on Fri 19 Jun 4:30PM

  10. comment 83, it's true though

    From john.connolly01, on Fri 19 Jun 4:29PM

  11. Foul mouths?, can I take everyone to comment 74, I rest­ my case

    From john.connolly01, on Fri 19 Jun 4:28PM

  12. newcastle ian,heres an example of the dross.
    Imp - have­ you run out of things to say as your­ comments 65 and­ 74 are the same? Or have you mastered­ cut and paste­ and you just wanted to show off?

    From Hutch, on Fri 19­ Jun 4:11PM

    From impactclean, on Fri 19 Jun 4:25PM

  13. newcastle ian,as you can see,the worms are coming out­ of the woodwork,nothing more to say other than knock­ genuine comments,in particular­ hutch,connolly,cameron.their foul mouths usually show­ them up.

    From impactclean, on Fri 19 Jun 4:23PM

  14. "his manu background will inevitably come to the­­ fore"
    You mean like Roy Keane?

    From Hutch, on Fri 19 Jun 4:17PM

  15. he's trying to hook up a mackem for a friend but­ the lads sussed him and aint taking the bait

    From john.connolly01, on Fri 19 Jun 4:14PM

  16. newcastleian,i follow your sentiment,but i think brucey­ has his feet firmly on the ground,more importantly he­ will not put up with players under performing,he wants­ success,his manu background will inevitably come to the­ fore,i can see cats putting a good show this season,the­ players whoever had better play well,or the exit door­ will be permanantly open.toon will inevitably come­ back,but its a weird and peculiar circumstance they­ find themselves in at the moment.howay lets get sorted.

    From impactclean, on Fri 19 Jun 4:13PM

  17. I bet Steve Bruce gets a Brucey bonus at the end of­ season for a Premiership record - the lowest ever­ number of points.

    From Hutch, on Fri 19 Jun 4:13PM

  18. Imp - have you run out of things to say as your­ comments 65 and 74 are the same? Or have you mastered­ cut and paste and you just wanted to show off?

    From Hutch, on Fri 19 Jun 4:11PM

  19. brucey has always claimed when he gets to the dressing­ room he asks how newcastle have got on!wonder if he­ does it at sunderland??

    From newcastleian1, on Fri 19 Jun 4:10PM

  20. Imp, he does'nt want to be your friend

    From john.connolly01, on Fri 19 Jun 4:04PM
Sort comments by: Most recent

Not already a Yahoo! user ? to get a free Yahoo! Account