Buyers run rule over Newcastle books

Thu, 18 Jun 16:10:02 2009

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.

 

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  1. hey up hutch,what sort of company do you own?.

    From impactclean, on Fri 19 Jun 7:57PM

  2. Come on Impact. I'm offering you a job - a chance­ to get out of the benefit system and use your brain.

    From Hutch, on Fri 19 Jun 7:45PM

  3. hutch 31,that explains why you cant see farther than­ your nose,dirty windows,mind you just as well nothing­ to look at when they are cleaned.

    From impactclean, on Fri 19 Jun 7:40PM

  4. I own the company mate. My windows need cleaning though­ if you're interested?

    From Hutch, on Fri 19 Jun 7:32PM

  5. newcastleian to get a £1 ticket u have to actually be a­ child not just have a mental age of one

    From heslop448, on Fri 19 Jun 7:32PM

  6. ttiot 28,couldn,t agree more,toon fans are blinkered­ beyond belief,wellsaid,hutch/rabbit might not agree­ with you though.

    From impactclean, on Fri 19 Jun 7:25PM

  7. Well Newcastleian1 you still off school sonny. You­ obviously have learning difficulties
    Here's a tip,­ your club is goosed m8, the fat one and the fat one­ before him have totally screwed the club and the fans.­ Learn to live with it. You might survive in the­ championship, but if no buyer comes forward you might­ just find youreslve's in administration next­ season.

    From TTIOT, on Fri 19 Jun 7:17PM

  8. hutch,its your day off,right!.

    From impactclean, on Fri 19 Jun 7:17PM

  9. hutch 24,its your day off yes,

    From impactclean, on Fri 19 Jun 7:14PM

  10. would rather pay 500 notes for toon ticket than the £1­ tickets the mackems are trying to knock out!!

    From newcastleian1, on Fri 19 Jun 6:59PM

  11. Still no job then?

    From Hutch, on Fri 19 Jun 6:58PM

  12. hutch 20,you paid! to watch that dross,you need­ treatment mate!.

    From impactclean, on Fri 19 Jun 6:55PM

  13. BREAKING NEWS:

    Ronaldo's £80 million move to­ Real­­ Madrid looks to be off after Real's Chairman­ found­­ he could buy a big girl's blouse at Primark­ for­­ £4.99

    From Hutch, on Thu 18 Jun 3:25PM
    "IS­ THAT­ THE BEST YOU CAN DO" HUTCH/RABBIT,really
    at­ last we agree that newcastle is little,Thanks.

    From impactclean, on Fri 19 Jun 6:53PM

  14. brucey says he wants to shop at harrods not tesco?­ richard dunn £6 million???i think wor lass is quicker­ than him!!

    From newcastleian1, on Fri 19 Jun 6:52PM

  15. Yep, I have my season ticket thanks. Do you have a job­ yet?

    From Hutch, on Fri 19 Jun 6:51PM

  16. Impactclean 17 -
    Sadly your little world seems to­ revolve around Newcastle.

    From Hutch, on Fri 19 Jun 6:48PM

  17. hutch,got your season ticket yet,no shearer yet­ then!.no sale yet then!.

    From impactclean, on Fri 19 Jun 6:42PM

  18. hutch 15
    got it wrong as usual,western civilisation­ goes beyond newcastles little world.

    From impactclean, on Fri 19 Jun 6:38PM

  19. c2mon those players are taking the p--s, no wonder that­ thug barton wants to stay, get his bonus? and then put­ in a transfer request, what a shower. i have been a­ toon supporter since1950 and have never seen such a­ bunch of wa-----rs pulling on the nufc shirt, get some­ pride back.

    From johnkofkin, on Fri 19 Jun 6:17PM

  20. It's not just me who can't make head nor tail­ of it mate, it's the entire Western civilisation!

    From Hutch, on Fri 19 Jun 5:51PM
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