Christmas Tree 4679 Posted August 18, 2009 Share Posted August 18, 2009 Newcastle takeover will be decided this week Newcastle's ownership will be decided this week, possibly as early as Tuesday, as Mike Ashley considers whether to accept an offer to buy the club from Tyneside businessman Barry Moat. Moat is keen to conclude a deal by the end of the week in order to allow Alan Shearer, his chosen manager, time to buy or sell players before the transfer window closes. Moat is understood to have secured the financing required to complete the deal if Ashley is willing to accept his offer, thought to be in the region of £70-£80 million. Related Articles Butt: Newcastle must win fans back Campbell eyes Newcastle move Ameobi backs Hughton as Newcastle manager Newcastle 3 Reading 0 Hughton making best of bad job Newcastle sign Simpson Crucially Moat is understood to have secured the backing of Barclays, which provides the £40 million overdraft that allows the club to operate. It is understood that Barclays has been seeking assurances that the debt will be reduced as part of the takeover. It is though that the proceeds of recent player sales that have seen Obafemi Martins and Sebastien Bassong leave the club have not been used to reduce debt, causing some concern at the bank. Barclays is thought to be well-disposed to the Moat takeover, however, and has received reassurances that his proposal is solid. Moat is putting up some of the money to buy the club himself, with the balance coming from investors. The key to the deal proceeding, as it has been for several weeks, is Ashley agreeing to accept Moat's offer. Ashley is seeking £100 million for the club and has appeared reluctant to accept less despite the parlous state of the club's finances. With a wage bill of more than £60 million last season and revenue from the Championship unlikely to reach two-thirds of that any new owner faces a costly and precarious re-building operation. Time is also running short for a deal to be concluded. Once the transfer window closes the chances of Ashley finding a buyer this season diminish rapidly, and he will be faced with supporting the club for another season with no guarantee that it will be promoted. He has yet to indicate whether or not he will accept the offer, but the sight of Moat and Ashley sitting side-by-side at St James' Park on Saturday was the best indication yet that a deal might be imminent. Link to comment Share on other sites More sharing options...
Christmas Tree 4679 Posted August 18, 2009 Author Share Posted August 18, 2009 The above is from todays telegraph. Good news if Barclays have given the ok. And Ashley must have know all along what the bid was so that shouldn't be a stumbling block. Doesn't all exciting stuff usually break on a Wednesday! Link to comment Share on other sites More sharing options...
Jimbo 172 Posted August 18, 2009 Share Posted August 18, 2009 "end of the week" Link to comment Share on other sites More sharing options...
Ally 0 Posted August 18, 2009 Share Posted August 18, 2009 Why the fuck was the Martins and Bassong money not used to reduce the debt? Link to comment Share on other sites More sharing options...
TheMoog 0 Posted August 18, 2009 Share Posted August 18, 2009 Why the fuck was the Martins and Bassong money not used to reduce the debt? Because Ashley's a fat, greedy bastard? Link to comment Share on other sites More sharing options...
Redheugh 0 Posted August 18, 2009 Share Posted August 18, 2009 No chance of this happening this week. Moat will not buy the club. Link to comment Share on other sites More sharing options...
meshman 0 Posted August 18, 2009 Share Posted August 18, 2009 believe/jimbos/telly Link to comment Share on other sites More sharing options...
themags 0 Posted August 18, 2009 Share Posted August 18, 2009 Link to comment Share on other sites More sharing options...
donaldstott 0 Posted August 18, 2009 Share Posted August 18, 2009 Why the fuck was the Martins and Bassong money not used to reduce the debt? It's probably immaterial, as surely even Ashley realises that a business he valued at £100m is only worth £80m if you sell £20m worth of assets. Link to comment Share on other sites More sharing options...
2bias 3 Posted August 18, 2009 Share Posted August 18, 2009 I don't think a sale will happen now. Lets just hope for a few new faces and no more departures Link to comment Share on other sites More sharing options...
Redheugh 0 Posted August 18, 2009 Share Posted August 18, 2009 I think a sale will happen by this time next week. Just not to Barry Moat Link to comment Share on other sites More sharing options...
ewerk 30216 Posted August 18, 2009 Share Posted August 18, 2009 Yet more red hot inside info from your good self. Link to comment Share on other sites More sharing options...
JawD 99 Posted August 18, 2009 Share Posted August 18, 2009 This conversion makes me loose a grip on what day / month we are in... Link to comment Share on other sites More sharing options...
TheMoog 0 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. Link to comment Share on other sites More sharing options...
sammynb 3342 Posted August 18, 2009 Share Posted August 18, 2009 I think a sale will happen by this time next week. Just not to Barry Moat I don't know what is more unbelievable, this prediction or that borat is reading this thread. Link to comment Share on other sites More sharing options...
2bias 3 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. Link to comment Share on other sites More sharing options...
TheMoog 0 Posted August 18, 2009 Share Posted August 18, 2009 I think a sale will happen by this time next week. Just not to Barry Moat I don't know what is more unbelievable, this prediction or that borat is reading this thread. "Eeetss Niiiace" Link to comment Share on other sites More sharing options...
Christmas Tree 4679 Posted August 18, 2009 Author Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. nailed on to be announced today / tommorrow. Link to comment Share on other sites More sharing options...
2bias 3 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. nailed on to be announced today / tommorrow. ok Link to comment Share on other sites More sharing options...
TheMoog 0 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. nailed on to be announced today / tommorrow. ok Conference at 3pm Link to comment Share on other sites More sharing options...
sandman02uk 0 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. nailed on to be announced today / tommorrow. ok Conference at 3pm Its at 3:30 according to the ticker Link to comment Share on other sites More sharing options...
2bias 3 Posted August 18, 2009 Share Posted August 18, 2009 I don't know, I have a good feeling today, maybe... just maybe. nailed on to be announced today / tommorrow. ok Conference at 3pm Its at 3:30 according to the ticker Link to comment Share on other sites More sharing options...
nortoon 0 Posted August 18, 2009 Share Posted August 18, 2009 Anyone know anything more specific? Link to comment Share on other sites More sharing options...
2bias 3 Posted August 18, 2009 Share Posted August 18, 2009 I still reckon Bullshit Link to comment Share on other sites More sharing options...
Christmas Tree 4679 Posted August 18, 2009 Author Share Posted August 18, 2009 Anyone know anything more specific? They are trying to keep the lid on it today so they can announce it tomorrow and create a matchday party atmosphere. This will also give them time to tie up Shearer and Rob Lees signature meaning all three can be presented on the pitch before the game. Link to comment Share on other sites More sharing options...
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