Ashley offer points to end for Shepherd at Newcastle

[Jimbo 133]

“I’m from Byker. I used to fight my way into school and fight my way out again. I’m not running away from a fight.” — Freddy Shepherd, 2006

 

George Caulkin The Times

 

As recently as last week, on the day he announced the seventh manager of his 11 years as chairman, Freddy Shepherd declared that Newcastle United were “an impossible club to buy” because “I’m not selling”. As those ubiquitous adverts for a famous sportswear brand – although not one of Mike Ashley’s – have it, Shepherd discovered yesterday that impossible is nothing.

 

Ashley’s purchase of the Hall family’s 41.6 per cent stake-holding in Newcastle leaves Shepherd’s position close to untenable. He is understood to have been as surprised as anyone by the reclusive billionaire’s decision to leave the shadows and enter the highly visible world of football, but he is under no illusions that the country’s 25th richest man aims to buy the entirety of his club.

 

Shepherd spent yesterday in hastily arranged discussions with his fellow directors and a full emergency board meeting has been called to consider the offer of 100p per share from St James’ Holdings, Ashley’s company. “The board will meet to consider the offer shortly,” a Newcastle statement said. “Newcastle United shareholders are urged to take no further action at this time.”

 

At yesterday’s valuation, Shepherd’s 29.8 per cent stake of Newcastle is worth about £40 million, which would represent more than loose change to most businessmen, but while he has maintained that he would step down in favour of a “Geordie Abramovich”, Shepherd has been steadily reinvesting dividends in more shares.

 

It has long been understood that Shepherd has been seeking a formula to buy Sir John Hall’s holding – “I would consider buying the Hall shares at the correct price,” he said – and friction between the men, who were part of the consortium that took control on Tyneside in December 1990, grew when an offer period for the club failed to bring a tangible bid from either Polygon or the Belgravia Group in January.

 

At that stage, Shepherd blamed Hall, his predecessor as chairman, for increased instability that had afflicted the club on the pitch and in the transfer market. “Sir John has to decide what his role in the club is,” he said. “He has to decide whether he wants to stick or sell. The offer period has been damaging and difficult for everyone at the club. Everyone here has been left wondering whether they would have jobs when it was all over. It is me who has to run the club on a day-to-day basis and the situation isn’t conducive to running a huge Premiership outfit.”

 

That position has been clarified, although Shepherd’s shock at the latest developments illustrates the gulf that separates him from Hall (whose statement that Ashley has his “full backing” can be read in a similar light). While he is not obliged to sell his stock, the logic of retaining a minority shareholding seems dubious, particularly once Ashley crosses the majority threshold, with inherent voting rights.

 

Shepherd has previously insisted that he would depart the club in similar circumstances to this. “I am not looking actively to leave, not at all, but if there was to be a takeover it would be a clean break,” he said at December’s annual meeting. “I wouldn’t be hanging around. I don’t think it is right for any company and I have bought enough companies in my time to know that doesn’t work. I certainly wouldn’t do it.”

 

Few supporters would mourn. As a Geordie, Shepherd’s tribal allegiances are obvious, but under his stewardship the club have not won a trophy and regular appearances in the Champions League have been consigned to memory.

 

A history of ill-timed dismissals and public gaffes has not helped his popularity. New direction will be embraced.

 

Earning curve

 

£8.3m Price the Hall family paid for 79 per cent of club in 1980s

 

£10m Estimate of the sum they earned from the 1997 float

 

£15m What they have earned from dividends since

[newcastlebroon 0]

shephard is GOD

[Dogmatix 0]

Oh Happy Day

[Happy Face 29]

£8.3m Price the Hall family paid for 79 per cent of club in 1980s

 

£10m Estimate of the sum they earned from the 1997 float

 

£15m What they have earned from dividends since

 

£55m from the sale.

 

£72.7m profit then?

 

Don't begrudge them a penny, doug perhaps.

[Chaser 1079]

Just goes to show reading those quotes from SJH that he obviously had reservations about selling up to Freddy. I cant imagine that FF hadnt already made an offer for the Hall shares, particularly from his comments about SJH and his comments about buying up their share. Just goes to show that when a decent offer has come in, SJH has got rid of them to anyone but Shepherd. Lets hope Ashley is a more dignified leader and doesnt meddle with team affairs.

[Barney 0]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

[Dr Gloom 20184]

where's leazesmag when you need him?

[Guest alex]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

[Craig 6321]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

Precisely. Bates stayed on as chairman for a couple of weeks before deciding he couldn't hack being told what to do by a new boss and moved on to be replaced by Bruce Buck who I think effectively runs the business side of things. They appointed Kenyon to run the footballing side.

 

Incidentally, is this the first 'takeover' to come out of the blue since Roman took Chelsea? The Man Utd, Villa, Liverpool, West Ham & Citeh takeovers have all been widely reported by the press. Before yesterday though, who'd ever heard of Mike Ashley?

[Barney 0]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

[Gemmill 35639]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

He's a yank iirc. He was on the telly/radio a lot over the whole Ashley Cole tapping up thing.

[Gemmill 35639]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

[Tooj 17]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

You see this is what I'm talking about, everyone is over the moon without fully researching the man behind all of this just because it is a different name than Shepherd. I'm no Freddy sympathiser but we just don't know what it's going to turn out like or have enough information at the moment as to why this is going to be the oh so remarkable change everyone is harping on about.

[Craig 6321]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

 

I heard something about that but was immediately questioning the integrity of the comments. Nothing was a direct quote and I wouldn't put it past certain parts of the media to knock us given half a chance.

 

The bloke seems to be managing his businesses quite well given the amount he made when he floated it.

[Guest alex]

Good point Craig.

[Dr Kenneth Noisewater 0]

It's not that unusual for shares in a business to trade at less than the initial floatation price though is it?

 

Perhaps some people had overvalued his company?

[Gemmill 35639]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

 

I heard something about that but was immediately questioning the integrity of the comments. Nothing was a direct quote and I wouldn't put it past certain parts of the media to knock us given half a chance.

 

The bloke seems to be managing his businesses quite well given the amount he made when he floated it.

 

He was bound to make money on flotation though, wasn't he? It's what happened since the flotation that seems to be concerning the shareholders. I'm not saying he's coming along here to fuck things up or owt, as I think if he puts the right people in place he could make a success of the club, but there's the odd alarm bell ringing from some of the stuff you hear.

[skhwoody 0]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

 

I heard something about that but was immediately questioning the integrity of the comments. Nothing was a direct quote and I wouldn't put it past certain parts of the media to knock us given half a chance.

 

The bloke seems to be managing his businesses quite well given the amount he made when he floated it.

 

He was bound to make money on flotation though, wasn't he? It's what happened since the flotation that seems to be concerning the shareholders. I'm not saying he's coming along here to fuck things up or owt, as I think if he puts the right people in place he could make a success of the club, but there's the odd alarm bell ringing from some of the stuff you hear.

 

So you would be happy for FF to carry on dragging this carcass of a football club on his shoulders forever backwards, or do you see a fresh start is needed. FF has become too powerful and believes he is more important than the club, he has meddles with too many things, and he has had more than enough time and chances to move us forward, a breath of fresh air this, new manager and owner, with the debts written off and a cash injection could be the catalyst to step back upto the dizzy heights of the premiership we want

[Gemmill 35639]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

 

I heard something about that but was immediately questioning the integrity of the comments. Nothing was a direct quote and I wouldn't put it past certain parts of the media to knock us given half a chance.

 

The bloke seems to be managing his businesses quite well given the amount he made when he floated it.

 

He was bound to make money on flotation though, wasn't he? It's what happened since the flotation that seems to be concerning the shareholders. I'm not saying he's coming along here to fuck things up or owt, as I think if he puts the right people in place he could make a success of the club, but there's the odd alarm bell ringing from some of the stuff you hear.

 

So you would be happy for FF to carry on dragging this carcass of a football club on his shoulders forever backwards, or do you see a fresh start is needed. FF has become too powerful and believes he is more important than the club, he has meddles with too many things, and he has had more than enough time and chances to move us forward, a breath of fresh air this, new manager and owner, with the debts written off and a cash injection could be the catalyst to step back upto the dizzy heights of the premiership we want

 

Obviously a fresh start is needed. I'm just pointing out that there are possible reasons to be wary of the new bloke. That's all.

[Tooj 17]

Not sure if this has been answered elsewhere, but after Freddy leaves(after 3 months notice or whatever), does Ashley become the new Chairman, or the new owner?

 

Do the board elect a chairman?

He doesn't have to be the chairman. Abramovich isn't Chelsea chaiman iirc.

 

 

Thanks for that. I don't think I've ever heard of Bruce Buck at Chelsea.

 

It would be quality to see the club run well from top to bottom. It's been something that's been needed desperately lately.

 

Aye, slightly worrying though when you read about unpaid bonuses in his other businesses etc. Apparently shareholders of his Sports Direct (or whatever it's called) group are saying he should be paying full attention to that business and not getting distracted by NUFC, as the value of shares is currently about 2/3 of the flotation price or something.

 

I heard something about that but was immediately questioning the integrity of the comments. Nothing was a direct quote and I wouldn't put it past certain parts of the media to knock us given half a chance.

 

The bloke seems to be managing his businesses quite well given the amount he made when he floated it.

 

He was bound to make money on flotation though, wasn't he? It's what happened since the flotation that seems to be concerning the shareholders. I'm not saying he's coming along here to fuck things up or owt, as I think if he puts the right people in place he could make a success of the club, but there's the odd alarm bell ringing from some of the stuff you hear.

 

So you would be happy for FF to carry on dragging this carcass of a football club on his shoulders forever backwards, or do you see a fresh start is needed. FF has become too powerful and believes he is more important than the club, he has meddles with too many things, and he has had more than enough time and chances to move us forward, a breath of fresh air this, new manager and owner, with the debts written off and a cash injection could be the catalyst to step back upto the dizzy heights of the premiership we want

 

Obviously a fresh start is needed. I'm just pointing out that there are possible reasons to be wary of the new bloke. That's all.

[manc-mag 1]

Please, God let this happen. Fuck off Freddy for once and for all.

 

This Ashley bloke doesnt have any allegiance to a domestic club apparently. Suits me fine that, something tells me he'd be coming here to knock the business into shape and wouldnt be distracted by any of this Geordie nation utter bollocks.

 

S'posed to absolutely avoid any media coverage of himself an all. Another massive improvement on the current disgrace of a self-publicist we've got pulling the strings.

[Asprilla 96]

£8.3m Price the Hall family paid for 79 per cent of club in 1980s

 

£10m Estimate of the sum they earned from the 1997 float

 

£15m What they have earned from dividends since

 

£55m from the sale.

 

£72.7m profit then?

 

Don't begrudge them a penny, doug perhaps.

 

£71.7m....

[Ketsbaia 0]

So what are the chances of this all going through eventually and him becoming owner? Everyone seems fairly certain but could Freddy make this difficult?

[ewerk 26853]

This Ashley bloke doesnt have any allegiance to a domestic club apparently. Suits me fine that, something tells me he'd be coming here to knock the business into shape and wouldnt be distracted by any of this Geordie nation utter bollocks.

 

Aye apparently he isn't a fan of any club but he's a big England supporter so at least he should know a bit about the game though that isn't essentially a prerequisite to the good running of the club.

[ewerk 26853]

So what are the chances of this all going through eventually and him becoming owner? Everyone seems fairly certain but could Freddy make this difficult?

 

Him owning over 50% is a near certainty which means he can make most of the decisions. However if Shepherd really wants to be awkward he can refuse to sell his shareholding which would prevent Ashley from gaining the 75% needed to delist the club without Shepherd's approval. I think Freddy knows that he'll have to sell now but is just trying to get more money out of the deal.