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Newcastle United: Club Sold To PCP - Official


The Mighty Hog
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Apparently there’s quite a few people who are advising behind the scenes and have a wealth of experience. A few are from Raffas circle, Phil Fodens agent, Frank McCartlan (sp).

 

Given it’s happened when it has,  it’s just going to take a little longer.

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2 hours ago, Rayvin said:

I just wish they had been ready for this takeover to happen when it did. They so clearly weren't.

Said it before but the Saudis clearly weren't bothering their arse to forewarn Staveley et al about the u-turn on piracy, so they were all caught on the hop.

 

Yes, personally, I would have had Rangnick on speed dial with a "Look, if this happens, how quickly can you get out of Moscow?" But the signs were that no resolution would be coming before December at the earliest.

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1 hour ago, Rayvin said:

 

I mean, PIF should have been doing due diligence and drawing up plans way, way, way before they bought the club. No one buys anything and then just walks in with a blank sheet of paper and starts from zero. But that does sort of look like what they're doing to a degree, and the only reason I can imagine such a savvy group of investors would be in that position is if things moved quicker than planned. They could have had the consultants in place well beforehand as well.

 

You're right, there's parts of this that they couldn't have gotten going until things were moving, but they don't appear to have a clear view on who should manage the club, who should be DoF, etc. Maybe they're just being very tight lipped about it (although as you say, with football being leaky as fuck you'd think we'd have heard something). All the parts they couldn't get moving they should have been totally poised to jump on immediately. I reckon they didn't see the point in drawing up a manager shortlist until the deal was back on - and that's why we're now running around with names like Steven Gerrard and Eddie Howe.

 

All I'm saying here really, is that I don't think it is reasonable for us to assume that they're an absolute masterclass in taking over and running a football club. I think they're going to have to learn - and if we keep talking as if they are indeed a masterclass, we're going to be in for some rude shocks when the first very obvious mistake goes down. It's arguably already happened.

Read somewhere that they were allowed to look at the pertinent financial information, but little else. 

 

It's hard to plan when you can't do worthwhile assessments.

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1 hour ago, The Fish said:

Read somewhere that they were allowed to look at the pertinent financial information, but little else. 

 

It's hard to plan when you can't do worthwhile assessments.

 

Genuinely? That would explain absolutely everything we're seeing then but I still can't quite believe someone would spend £300m without that level of insight. Unless £300m is absolute peanuts which of course it is to PIF, but is it to Staveley's backers, even at just £30m?

 

Football has just gone up another level in the ludicrous stakes for me though, if that's true. 

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3 minutes ago, Rayvin said:

 

Genuinely? That would explain absolutely everything we're seeing then but I still can't quite believe someone would spend £300m without that level of insight. Unless £300m is absolute peanuts which of course it is to PIF, but is it to Staveley's backers, even at just £30m?

 

Football has just gone up another level in the ludicrous stakes for me though, if that's true. 

Staveley said it herself. They've had access to the data room for financial matters and that's it. 

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16 minutes ago, Gemmill said:

I don't know what you would expect them to be able to see beyond the data room though? That's how corporate acquisitions work. 

 

It's a fair point, although the takeovers I've been involved in have actually involved a bit more immersion prior to the buy than just metrics and money. Those are, admittedly, with smaller businesses than this though, so maybe that's why my perception on this is different. Either way I'm backing down on this now with that particular revelation noted, though with the caveat that I still don't necessarily think we should assume too much of them from the get go. Other than, y'know, spending.

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