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Newcastle United sale stalls as financial liabilities scare off potential suitors

duo

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Noelie

Noelie 103

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If Ashley or his advisors had any sense at all they would hire Shearer as manager right now so he could start some damage control before the season opener is upon us and it's too late to stop the downwards spiral. The longer Ashley continues down this path the less chance he has of getting the Club sold for what he is asking, he's either going to take it off the market again or make a panic sale whereby he'll lose more than the shirt he has already lost through his stupidity.

Even if it were on a short-term contract like his last one it couldn't hurt, in fact his appointment could be deemed as an asset by potential buyers who in all probability would appoint him anyway.

A team in such disarray and with no manager to boot is hardly a good shop-window display to tempt in buyers.

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Kitman

Kitman 2207

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You have to be sceptical as to why a 'source' close to Ashley would want to advertise that the club is up shit creek. Not that we hadn't guessed already that Ashley was asking more than people were probably prepared to pay.

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dbsweeney

dbsweeney 0

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Up 'til now I was quite confident that, sooner or later, this matter would be resolved.

 

But nah, if Ashley doesn't lower his price and sell the joint, I do fear we will indeed be the next LUFC.

 

How the fuck did it come to this?

 

For fucks sake, sell the joint now!

 

Back when he wanted to sell it last time (back when we were still a prem. side), I'm sure he received a few offers of around 200 mil. But no, he managed to get drunk in a country where you're not supposedly even able to buy a drink and thought he could get 400 mil for the Club.

 

Learn from your mistakes, you dumb bastard. Not doing that has now cost him around 125-150 mil.

 

If it's sold for 80 mil instead of 100 mil, yeah it's 20 mil less than he wants. But he'll be rid of the damn thing and surely will end up saving more in the long run.

 

I'm so FUCKING ANGRY!

 

How the FUCK can this man be called a buisinessman? How the FUCK did he manage to make his 1 billion in the first place?

Edited by dbsweeney
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dbsweeney

dbsweeney 0

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If he won't listen to us, he has to listen to a former PM, doesn't he?

-------

Tony Blair:

“I would not get into criticising anyone who has the onerous responsibility of running a football club.

 

It is a tragedy what has happened. We have to re-group, re-assert ourselves and move back up again.

 

Newcastle had the third biggest gate in the Premier League and we are in the Championship now. There is no doubt they are a massive club. They will have to come back but they will also have to do a lot of sorting out in the meantime.”

-------

 

Too fucking right.

Edited by dbsweeney
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Kitman

Kitman 2207

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Ashley is a hermaphrodite - a cock and a cunt at the same time. Nothing he does surprises me anymore, unless it's something which benefits the club. Like him fucking off for good, for instance.

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peasepud

peasepud 59

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Wow, I thought good old Mike paid off all the debts.

 

When pressed about debt and statements that contradicted previous statements Derek Llambias became extremely annoyed about the semantics of "debt" and stated his desire for us to start talking about MA buying the club for 244m rather than 134m if it would make it easier for us to "understand" and not get hung up on.

 

http://nusc.org.uk/full_article.php?articleid=5

 

 

Dont get your pretty little head hung about such semantics, just be thankful good old Mikes here. :icon_lol:

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Ugly Mackems

Ugly Mackems 134

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I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

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snakehips

snakehips 0

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I guess it's a bit too much for LardAsh to allay our fears with just one comment along the lines of 'Things are progressing." It may be difficult to believe, but just one comment like that could do so much.

 

The silence seems ominous to me. If he doesn't sell, NUFC are going one way, and one way only...

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Bombadil

Bombadil 0

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I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

I still don't get it though. How can these things drag on for so long? I'm not surprised the potential buyers looked at the books and saw that a lot about the finances was wrong, but that was more than a month ago, maybe even two months. What can possibly take the parties so long?

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peasepud

peasepud 59

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Posted
I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

Is she though? two weeks ago there was a snippet or story every other day about how well it was progressing, how many people were in for it and how "a deal will be done by the end of the week". Now though its gone ominously quiet and we've been here before, if Decka and Harris dont make any soundbites then we're in trouble.

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Isegrim

Isegrim 9896

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Posted
I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

Is she though? two weeks ago there was a snippet or story every other day about how well it was progressing, how many people were in for it and how "a deal will be done by the end of the week". Now though its gone ominously quiet and we've been here before, if Decka and Harris dont make any soundbites then we're in trouble.

She was pretty accurate with her Keegan/Wise/Ashley stories in the past, too. Unfortunately.

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Toonpack

Toonpack 9927

Posted
Posted
I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

I still don't get it though. How can these things drag on for so long? I'm not surprised the potential buyers looked at the books and saw that a lot about the finances was wrong, but that was more than a month ago, maybe even two months. What can possibly take the parties so long?

 

Look how long the Portsmouth sale taking, and they knew the buyer from the start. We have had to try and find a buyer and then there's all the shit to go through, unfortunately I reckon it'll be weeks yet :icon_lol:

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Kitman

Kitman 2207

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Posted
I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

I still don't get it though. How can these things drag on for so long? I'm not surprised the potential buyers looked at the books and saw that a lot about the finances was wrong, but that was more than a month ago, maybe even two months. What can possibly take the parties so long?

 

To be fair due diligence involves more than a quick look at the books. Financial due diligence will look at all the clubs income flows, all its contractual liabilities (players, property, suppliers etc), bank financing and security arrangements, and the viability of the business, including modelling future cashflows and considering whether the asking price is reasonable; I imagine for a large club like NUFC the dealings are quite complicated and take somne unravelling. In addition there's legal due diligence and there may even be environmental stuff associated with the ground. Plus tax and accounting due diligence. If there are financiers involved like banks that hold security against assets, that might involve additional work.

 

Then there will be negotiations around the offer based on the due diligence, maybe an agreement in principle which has to be turned into a contract. Supposing things get that far, then there's the sale and purchase agreement to be prepared and finalised, which has to be pored over by lawyers for all the parties, and warranties and indemnities which protect the purchaser, and any disclosures the vendor wants to make against these. The sale agreement may go through many drafts. There may be stumbling blocks and ultimatums, and the logistics of bringing all the different advisers and interested parties together can be time consuming. I've probably missed something out.

 

If you're doing it properly it can take quite a bit of time. Unless you're Mike Ashley buying a company, in which case you conclude the deal on the back of a greasy napkin by all accounts in between courses.

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Guest alex

Guest alex

Posted
Posted
I'd guess that Louise Taylor knows exactly fuck all about what is going on. She (or 'it') is merely mischief making and sadly from just the few posts in this thread it is having thedesired effect.

 

Did everyone think selling a Club like NUFC could and would be done and dusted in a week or two? Should the new owners use Ashleys business acumen when it comes to purchasing NUFC?

 

Is she though? two weeks ago there was a snippet or story every other day about how well it was progressing, how many people were in for it and how "a deal will be done by the end of the week". Now though its gone ominously quiet and we've been here before, if Decka and Harris dont make any soundbites then we're in trouble.

She was pretty accurate with her Keegan/Wise/Ashley stories in the past, too. Unfortunately.

Aye :icon_lol:

Seems to me Ashley won't put any more money in but won't sell for anything like a reasonable price. Fuck knows what he's playing at but he doesn't seem to play to the same business rules as anyone else. You just know the place will still be a shambles with him still the owner come mid-August.

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Park Life

Park Life 71

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You have to be sceptical as to why a 'source' close to Ashley would want to advertise that the club is up shit creek. Not that we hadn't guessed already that Ashley was asking more than people were probably prepared to pay.

 

50m is a fair price. 100m as I've said here and elsewhere is what we call Disney.

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