Scottish Mag 3 Posted May 30, 2009 Share Posted May 30, 2009 http://www.timesonline.co.uk/tol/sport/foo...icle6396030.ece THE sportswear tycoon Mike Ashley is to put Newcastle United football club up for sale with a £100m price tag. Ashley will appoint Keith Harris, chairman of Seymour Pierce, or bankers at NM Roth-schild this week with a mandate to achieve a quick sale. His decision comes just days after the club was relegated from the Premier League. The asking price is £34m less than Ashley paid for the club two years ago. Since then he has ploughed £110m of his own money into the northeast team to pay down its debts. Ashley told The Sunday Times: “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.” If Ashley manages to find a buyer it will put an end to his controversial and occasionally acrimonious two-year spell in control at St James’ Park, having initially put the club up for sale for £400m last September because of a series of protests and demonstrations following Kevin Keegan’s departure as manager. But dropping out of the top flight of English football has slashed the value of the club. There has been some interest from Nigeria and South Africa but no firm takeover offers. The club’s demotion will make it harder to drum up bid interest. Asked if he regretted his decision to buy the club two years ago, Ashley, who owns the sportswear chain Sports Direct, said: “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.” Ashley landed a £929m pay-day when he floated Sports Direct on the London stock exchange in 2007, but the credit crunch and a string of ill-fated gambles have slashed his wealth from £1.4 billion to £700m, according to this year’s Sunday Times Rich List. 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. Ashley also praised former interim manager Joe Kinnear, who took temporary charge of the club after Keegan quit last autumn. “I personally thought Joe put the club back on the right track. He took it from second bottom to 13th but things went against him,” said Ashley. Kinnear was forced to stand down because of ill health. After its relegation from the Premier League, the club faces a big restructuring that is likely to lead to a clear-out of the first-team playing squad to balance the books. At present, Newcastle relies on a £40m work-ing-capital facility from Bar-clays bank. Meanwhile, West Ham United is poised to be taken over by its creditors in coming weeks. Sources close to the east London football club say the huge debts of former owner Bjorgol-fur Gudmundsson and those of the club itself have all but killed the chances of any rescue. This means it will fall into the hands of Icelandic bank Straumur and a consortium of other financial institutions. Straumur is owed about £100m by Gudmundsson, while the club owes about £45m to a group of banks including RBS. The Icelandic bank is expected to hold on to the club for between two and three years before putting it up for sale. Link to comment Share on other sites More sharing options...
Norbert Colon 0 Posted May 30, 2009 Share Posted May 30, 2009 If these are correct direct quotes then i think we may well be fucked Link to comment Share on other sites More sharing options...
Tom 14013 Posted May 30, 2009 Share Posted May 30, 2009 I don't know what to make of this. Link to comment Share on other sites More sharing options...
Norbert Colon 0 Posted May 30, 2009 Share Posted May 30, 2009 It doesn't sound good whichever way you look at it Link to comment Share on other sites More sharing options...
Ketsbaia 0 Posted May 30, 2009 Share Posted May 30, 2009 Ashley told The Sunday Times: “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.” *slow clapping* Now he gets it I hate the bloke. I hate the fact he can walk away from the mess he's created with the best part of a billion in the bank and a slightly dented ego. I hate the fact he'll probably wallow in self pity and say how he was hard done to by the fans. Good fucking riddance. Link to comment Share on other sites More sharing options...
David Kelly 1260 Posted May 30, 2009 Share Posted May 30, 2009 Whilst getting rid of Ashley would be a good thing, I can only see this dragging on and harming our preparations for next season. More months of pain likely. Link to comment Share on other sites More sharing options...
Fop 1 Posted May 30, 2009 Share Posted May 30, 2009 Here we go then. Link to comment Share on other sites More sharing options...
Norbert Colon 0 Posted May 30, 2009 Share Posted May 30, 2009 Its either the annual clubs up for sale so we can't buy anyone(only sell) or appoint a manager then wait until august the 1st and wheel kinnear back in - or he is selling up and therefore won't invest and we are stuck in a malaise for the close season waiting for a buyer who may or may not materialise Link to comment Share on other sites More sharing options...
Tooj 17 Posted May 30, 2009 Share Posted May 30, 2009 NM Roth-schild. Aren't these the blokes that according to Parky rule us all? Link to comment Share on other sites More sharing options...
Ketsbaia 0 Posted May 30, 2009 Share Posted May 30, 2009 If he is genuinely stuck and needs to get rid I can see us being sold for £70-£80 million. If it's just another 'woe is me' moment then I don't expect much. Link to comment Share on other sites More sharing options...
Ketsbaia 0 Posted May 30, 2009 Share Posted May 30, 2009 NM Roth-schild. Aren't these the blokes that according to Parky rule us all? You're thinking of 'the Jews!' Link to comment Share on other sites More sharing options...
Fop 1 Posted May 30, 2009 Share Posted May 30, 2009 If he is genuinely stuck and needs to get rid I can see us being sold for £70-£80 million. If it's just another 'woe is me' moment then I don't expect much. Could be either, but being sold for "just" ~£100m brings problems all of it's own, we've seen how a Billionaire can totally fuck a football club, someone that genuinely can't afford it gets hold of us and it's could be final curtain time. Why couldn't he have sold us to the Man City lot for a reasonable price last year. Link to comment Share on other sites More sharing options...
David Kelly 1260 Posted May 30, 2009 Share Posted May 30, 2009 NM Roth-schild. Aren't these the blokes that according to Parky rule us all? No you're thinking of the Pentavirate. Made up of The Queen, The Vatican, The Gettys, The Rothschilds, *and* Colonel Sanders before he went tits up. Link to comment Share on other sites More sharing options...
Craig 6700 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buyer, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. Link to comment Share on other sites More sharing options...
Tooj 17 Posted May 30, 2009 Share Posted May 30, 2009 NM Roth-schild. Aren't these the blokes that according to Parky rule us all? No you're thinking of the Pentavirate. Made up of The Queen, The Vatican, The Gettys, The Rothschilds, *and* Colonel Sanders before he went tits up. But some of them shape shift into lizards aye? Link to comment Share on other sites More sharing options...
Jimbo 175 Posted May 30, 2009 Share Posted May 30, 2009 we are fucked Link to comment Share on other sites More sharing options...
Tom 14013 Posted May 30, 2009 Share Posted May 30, 2009 NM Roth-schild. Aren't these the blokes that according to Parky rule us all? No you're thinking of the Pentavirate. Made up of The Queen, The Vatican, The Gettys, The Rothschilds, *and* Colonel Sanders before he went tits up. But some of them shape shift into lizards aye? Aye the Queen and George Bush. Link to comment Share on other sites More sharing options...
Norbert Colon 0 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buy, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. He must have looked at Shearers plans and realised he would have to be passionately commited to the club to back them - its just more shite and i can't see who will buy us - the revenue streams are fucked and without immediate direction were are gonna be left with a bunch of shite players sitting on big contracts - what a fuckin arsehole Link to comment Share on other sites More sharing options...
David Kelly 1260 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buy, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. He must have looked at Shearers plans and realised he would have to be passionately commited to the club to back them - its just more shite and i can't see who will buy us - the revenue streams are fucked and without immediate direction were are gonna be left with a bunch of shite players sitting on big contracts - what a fuckin arsehole He is the fucking makems wet dream really isn't he! Link to comment Share on other sites More sharing options...
Jimbo 175 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buy, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. He must have looked at Shearers plans and realised he would have to be passionately commited to the club to back them - its just more shite and i can't see who will buy us - the revenue streams are fucked and without immediate direction were are gonna be left with a bunch of shite players sitting on big contracts - what a fuckin arsehole He is the fucking makems wet dream really isn't he! Statement from The Stadium of Light: "Agent Ashley return to base, mission accomplished". Link to comment Share on other sites More sharing options...
Angelus71 4 Posted May 30, 2009 Share Posted May 30, 2009 never gets dull when you support the toon! Link to comment Share on other sites More sharing options...
Angelus71 4 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buy, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. He must have looked at Shearers plans and realised he would have to be passionately commited to the club to back them - its just more shite and i can't see who will buy us - the revenue streams are fucked and without immediate direction were are gonna be left with a bunch of shite players sitting on big contracts - what a fuckin arsehole He is the fucking makems wet dream really isn't he! Statement from The Stadium of Light: "Agent Ashley return to base, mission accomplished". I saw that on facebook the other day Link to comment Share on other sites More sharing options...
leannenufc 0 Posted May 30, 2009 Share Posted May 30, 2009 Oh well THERE'S a massive shock.... You see HF, this is exactly one of the things that was worrying me. We'll spend all summer trying to find a buy, Shearer will fuck off as he won't have the assurances he needed and we really will be in the shit. Mike thinking with pocket first, NUFC second. Evidently bought us to make money and when it all turned to shit (thanks to him) off he fucks. He must have looked at Shearers plans and realised he would have to be passionately commited to the club to back them - its just more shite and i can't see who will buy us - the revenue streams are fucked and without immediate direction were are gonna be left with a bunch of shite players sitting on big contracts - what a fuckin arsehole Exactly. 'Cheap' price or not, no-one is going to look at this club now and think it's a brilliant business opportunity. TV money gone, huge wage bills, and I assume Ashley is going to be asking for his loan of £100 million back fairly quickly too. And just in the short term, this dramatically screws up our summer at a time when we most needed to be professional and well-managed. This could get really, really bad. Link to comment Share on other sites More sharing options...
Jimbo 175 Posted May 30, 2009 Share Posted May 30, 2009 Shepherd to return ?? Link to comment Share on other sites More sharing options...
David Kelly 1260 Posted May 30, 2009 Share Posted May 30, 2009 Shepherd to return ?? Fucking hell I hope not. Link to comment Share on other sites More sharing options...
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