Ashley takeover faces delay

[Jimbo 175]

Ashley's efforts to gain complete control of the club may be held up by current chairman Freddy Shepherd's incapacity as he recovers from a fractured rib.

 

Shepherd was out of circulation when news of St James' Holdings Limited's £133.1million takeover bid broke on Wednesday and, although a board meeting has been called, it is as yet unclear when that will take place.

 

The board of Newcastle plc will issue a recommendation to shareholders after discussing the offer, which amounts to around £77.8million for the remaining shares.

 

While City analysts do not believe Ashley will have any difficulty in reaching the 50%-plus mark which was the condition of his 100p-a-share offer, Shepherd's decision - he holds a stake of around 29.8% - will be key to his hopes of acquiring the 75% he would need to make full control almost inevitable.

 

Ashley's investment has prompted hopes on the part of the fans that he could be prepared to pour more of his estimated £1.9billion fortune into strengthening on the pitch.

 

Manager Sam Allardyce, who was himself taken by surprise by this week's developments as he was on holiday, is already planning his summer spending, but may yet have a bigger-than-expected budget with which to play.

 

Accordingly, the rumour mill has thrown up a series of new names as potential targets with the latest being Barcelona striker Eidur Gudjohnsen and Liverpool winger Bolo Zenden.

 

Gudjohnsen, 28, spent a season working with Allardyce at Bolton before his £4million move to Chelsea in July 2000.

 

There is talk of the Iceland international returning to England after one season in Spain, and sources close to the Magpies boss have not played down his interest in a player who has also been linked with derby rivals Sunderland.

 

Zenden, 30, has been told he can leave Liverpool after two years despite starting Wednesday night's Champions League final in Athens.

 

The Dutch international was a target for former Newcastle boss Sir Bobby Robson during the summer of 2001, but opted instead to join Chelsea in a £7.5million move, and Robson then turned to Frenchman Laurent Robert.

[2bias 3]

not sure about zenden.

[Geordie Boyo 24]

I am, tbh. He's not good enough.