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Belgravia end interest in Newcastle United


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The Belgravia Group investment fund has said it no longer intends to make an offer for Newcastle United.

Jersey-based Belgravia said that despite protracted negotiations with the club, it had been "unable to agree a price and transaction structure".

 

It said that it felt its planned offer would have been in the best interests of the club and its supporters.

 

It is the second firm to end takeover interest in Newcastle this year, after the Polygon hedge fund also pulled out.

 

However Belgravia said it did not rule out resurrecting its interest in Newcastle in the future if circumstances changed.

 

It said it could return with a fresh offer if a recommendation from the Newcastle board was forthcoming, or if a third party announced an offer.

 

 

http://news.bbc.co.uk/1/hi/business/6277675.stm

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A little more from Sky Sports..

 

The Belgravia Group have announced to the Stock Exchange that they no longer intend to make an offer for Newcastle.

 

The Jersey-based group had been locked in talks with Newcastle over a possible takeover for a number of months.

 

Former Magpies chairman Sir John Hall and his son Douglas are keen to sell their stake in the North East club and current supremo Freddy Shepherd admitted he was ready to do business for the right price.

 

However, the Belgravia Group have revealed they were unable to agree a deal with the Tyneside club.

 

A statement read: "Further to the announcement made by Belgravia on August 21 that it was examining the potential opportunity of acquiring Newcastle, Belgravia today announces it no longer intends to make an offer for Newcastle.

 

"Despite lengthy and protracted negotiations, Belgravia has been unable to agree a price and transaction structure, which it feels would have been in the best interests of those involved, as well as being in the best interests of the football club and its supporters."

 

However, the group could still return to the table if circumstances change.

 

The statement added: "Belgravia reserves the right to announce an offer or possible offer or make or participate in an offer or possible offer for Newcastle and/or take any other action which would otherwise be restricted under rule 2.8 of the City code within the next six months, in the event that an agreement or recommendation from the board of Newcastle is forthcoming or there is an announcement by a third party of an offer or there is a material change in circumstances."

 

The Belgravia Group are the second lot of investors to pull out of takeover talks for Newcastle after The St James' Park Group, backed by American investors Polygon, dropped their interest earlier this month.

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freddie refusing to sell seems most likely explanation

 

Well Freddy over-pricing the club by a ridiculous amount, yes. But seriously, it's not going to be easy for anyone to make a profit out of NUFC at the moment.

 

 

After the new tv deal there is lodas more money in football. I saw a quote somewhere saying clubs will get a stupid 20 mill a year extra. And why buy now when they can wait till end of seasion and the gates are low footballs shite and we just avoid relegation. Halls can sack freddy and then will be desperate to sell knock a good few mill off the price.

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freddie refusing to sell seems most likely explanation

 

Well Freddy over-pricing the club by a ridiculous amount, yes. But seriously, it's not going to be easy for anyone to make a profit out of NUFC at the moment.

 

 

After the new tv deal there is lodas more money in football. I saw a quote somewhere saying clubs will get a stupid 20 mill a year extra. And why buy now when they can wait till end of seasion and the gates are low footballs shite and we just avoid relegation. Halls can sack freddy and then will be desperate to sell knock a good few mill off the price.

 

Apparently, the bottom club will get £30m from the new tv deal, which is what Chelsea got for winning the league last season!!

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freddie refusing to sell seems most likely explanation

 

Well Freddy over-pricing the club by a ridiculous amount, yes. But seriously, it's not going to be easy for anyone to make a profit out of NUFC at the moment.

 

 

After the new tv deal there is lodas more money in football. I saw a quote somewhere saying clubs will get a stupid 20 mill a year extra. And why buy now when they can wait till end of seasion and the gates are low footballs shite and we just avoid relegation. Halls can sack freddy and then will be desperate to sell knock a good few mill off the price.

 

Apparently, the bottom club will get £30m from the new tv deal, which is what Chelsea got for winning the league last season!!

 

Who will benefit from this new wealth? Players and agents no doubt. In relative terms, we will be no better off than before. Except you can expect the match going fans to suffer further shit k.o. times.

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Looked at the books and thought "no thanks".

 

Either that or LeazesMag gave them a chinese burn and a wedgie.

 

 

:baby:

 

 

 

 

Sadly you have to wonder if we're not just mediocre now spending and profit powerwise, and if any chance of stabalising as a top 4 club has simply now passed us by. Although the leeches don't help financially either.

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freddie refusing to sell seems most likely explanation

 

Well Freddy over-pricing the club by a ridiculous amount, yes. But seriously, it's not going to be easy for anyone to make a profit out of NUFC at the moment.

 

 

After the new tv deal there is lodas more money in football. I saw a quote somewhere saying clubs will get a stupid 20 mill a year extra. And why buy now when they can wait till end of seasion and the gates are low footballs shite and we just avoid relegation. Halls can sack freddy and then will be desperate to sell knock a good few mill off the price.

 

Apparently, the bottom club will get £30m from the new tv deal, which is what Chelsea got for winning the league last season!!

 

Who will benefit from this new wealth? Players and agents no doubt. In relative terms, we will be no better off than before. Except you can expect the match going fans to suffer further shit k.o. times.

 

Yep.

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NEWCASTLE UNITED PLC ("NEWCASTLE UNITED" OR THE "COMPANY"): TERMINATION OF OFFER PERIOD

 

The Board of Newcastle United PLC notes today's announcement by Belgravia that it no longer intends to make an offer for Newcastle United.

 

On 21 August 2006 Belgravia announced that it was examining the potential opportunity of acquiring Newcastle United.

 

Since that date the Board of Newcastle United has, with its advisers, met several times with Belgravia to explore whether an offer could be forthcoming that was in the best interests of shareholders and the Club.

 

Despite the assistance provided by the Company, the Board has been concerned by the length of time that Belgravia has required to determine whether or not it intended to put forward an Offer, and the inherent uncertainty that this has caused for the Company, shareholders and for the Club's supporters.

 

Consequently, the Board of Newcastle United approached the Takeover Panel last week and requested that it impose a deadline for Belgravia to either put forward a proposal or to withdraw from the process.

 

The Board of Newcastle United wishes to make clear that at no time was any formal offer put to the Board for it and its advisers to consider, nor was the Company satisfied that Belgravia had secured the necessary funding for such an offer to be put forward.

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