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Magpies supremo sets date with Dubai group

 

9:49am Monday 15th September 2008

 

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Photograph of the Author By Scott Wilson »

 

 

WITH Mike Ashley having broken his public silence to confirm his desire to sell Newcastle United, vice-president Tony Jimenez was last night in Dubai setting up a meeting with representatives of billionaire group Dubai International Capital (DIC).

 

DIC, the investment arm of the Dubai Government, has been in discussions over a possible takeover of Liverpool for much of the last 18 months.

 

But with Anfield co-owners George Gillett and Tom Hicks no nearer to resolving the impasse that is preventing the sale of their club, Newcastle officials are confident of brokering a deal that will see one of the richest companies in the Middle East assume ownership of the Magpies.

 

DIC’s determination to complete the purchase of a Premier League football club has intensified since the Abu Dhabi United Group (ADUG) completed their takeover of Manchester City at the end of last month.

 

Dubai and Abu Dhabi are locked in an increasingly heated battle for global prominence, and having seen their rivals make worldwide headlines through their deadlineday purchase of Robinho, Dubai’s rulers are desperate to join the burgeoning ranks of overseas Premier League owners.

 

They remain keen to purchase Liverpool, and there is a danger that last night’s discussions may have been arranged in order to pile pressure on Gillett and Hicks as they continue to clash over the future direction of their club.

 

But Jimenez’s weekend dash to the Middle East confirms Newcastle’s confidence that DIC are viable suitors, and with Ashley willing to sell for less than £300m, it is hoped that a formal offer may be lodged within the next week.

 

Ironically, last night’s talks came less than a month after Ashley rebuffed ADUG’s interest via an intermediary, forcing the Abu Dhabi group to turn their attentions towards Manchester City.

 

While DIC’s interest in Newcastle is strong enough to have persuaded Ashley to dispatch Jimenez to Dubai, the consortium is far from the only group to have contacted the sportswear magnate in recent days.

 

Reliance Communications have also made a number of discreet inquiries, despite a spokesman for the Indian mobile communications group releasing a statement on Friday that seemed to suggest their interest in the club was at an end.

 

Reliance, which is owned by Anil Ambani, the sixth-richest man in the world, have been linked with a possible takeover of Everton after weekend claims that the ongoing turbulence at Newcastle had forced the Mumbaibased group to look elsewhere.

 

However, senior city sources have claimed that the conflicting messages coming out of India are part of a bargaining ploy to force Ashley to reduce his asking price, and it is understood that Reliance are still extremely keen to purchase Newcastle United.

 

Ambani has been looking to gain a foothold in the European market for a number of years, and a takeover of Newcastle would provide him with a considerable boost to both his status and profile Chinese businessman Xu Rongmao is also spearheading another consortium currently eyeing the club.

 

Rongmao, who is one of only ten confirmed Chinese billionaires, is the founder and chairman of Shimao Property, one of the largest property development groups in Shanghai.

 

He has amassed a considerable fortune from purchasing a range of building groups in China, but is known to be keen to broaden his geographical horizons by buying up business interests that boast a significant real estate value in the west.

 

Former Newcastle chairman Freddy Shepherd unveiled plans to develop the land around St James’ Park into a hotel and casino complex before he was ousted by Ashley, and Rongmao would have similarly ambitious plans if he was complete his own takeover on Tyneside.

 

Over the weekend, there were also suggestions that a North-Eastern consortium was looking to buy out Ashley with the help of supporters.

 

However, while a number of wealthy North-Easterners have been sounded out about a potential takeover, any formal grouping remains at an embryonic stage.

 

As the number of Premier League clubs willing to countenance a takeover has diminished rapidly, Newcastle have become more and more appealing to investors.

 

But by admitting that the club is still not debt-free despite an investment of more than £110m, Ashley last night sounded a warning note to anyone interested in securing a takeover.

 

“I paid £134m out of my own pocket for the club,” he said. “I then poured another £110m into the club, not to pay off the debt but just to reduce it. The club is still in debt.

 

“Even worse than that, the club still owes millions of pounds in transfer fees. I shall be paying out many more millions over the coming year to pay for players bought before I arrived.

 

“But there was a double whammy. Commercial deals such as sponsorships and advertising had been frontloaded.

 

The money had been paid up front and spent. I was left with a club that owed millions and part of whose future had been mortgaged.

 

“Unless I had come into the club then it might not have survived.”

 

The chances now of a new manager being appointed ahead of Saturday’s away game with West Ham appear remote.

 

Friday night’s meeting with Kevin Keegan was an attempt to initiate a rapprochement that might ultimately have ended with the two-time Newcastle boss embarking on a third managerial reign at St James’.

 

However, talks broke down when Ashley refused to acquiesce to Keegan’s demands that both Jimenez and Dennis Wise be stripped of their power to hire and fire players.

 

In an unrelated development, Alan Shearer is understood to have been stripped of his ambassadorial role at the club.

 

 

 

 

source:

http://www.thenorthernecho.co.uk/sport/367...th_Dubai_group/

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Jimmy was over there in the summer.

 

Different circumstances now like.

 

Granted. Hope there is some legs to this.

 

Even with a massive influx of capital it will take a couple of seasons to get things right. We need something to go our way right now.

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Guest alex
Jimmy was over there in the summer.

 

Different circumstances now like.

 

Granted. Hope there is some legs to this.

 

Even with a massive influx of capital it will take a couple of seasons to get things right. We need something to go our way right now.

In a nutshell. The club is an absolute joke at the minute. If things don't improve you could see all of the best players leaving if they get the chance.

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I was in Dubai this year - nice place! :thumbup:

 

I'd say its quite the hardest place on earth to play football in, during the summer.

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I was in Dubai this year - nice place! :thumbup:

 

I'd say its quite the hardest place on earth to play football in, during the summer.

What about the middle of the Atlantic? :lol:

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Anyone know much about DIC? I'm not sure whether their intentions would be to pump a fuckload of cash into the club, though any sort of injection would be an improvement I suppose.

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At the moment I'd rather see a local consortium make an offer.

 

I was all for Ashley coming in and splashing the cash but I have been swayed by the initial success of our lower cost buys. The price of a player doesn't always have much bearing on how well he'll perform at your club.

 

The sad thing for me is that a polar argument has evolved over the benefits of a stable scouting system. To me, the structure is working to a point, it just needed tweaking to allow Keegan to have the final say (as was advertised).

 

I'm sure most of us don't want to see St. James's turned into a "Soccer Theme Experience" with a tacky casino and all the rest of it.

 

Any investor, especially with the financial clout of some of the names being mentioned, could absolutely fuck the club over if it wanted to and I think we should all be slightly wary of that(!).

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At the moment I'd rather see a local consortium make an offer.

 

I was all for Ashley coming in and splashing the cash but I have been swayed by the initial success of our lower cost buys. The price of a player doesn't always have much bearing on how well he'll perform at your club.

 

The sad thing for me is that a polar argument has evolved over the benefits of a stable scouting system. To me, the structure is working to a point, it just needed tweaking to allow Keegan to have the final say (as was advertised).

 

I'm sure most of us don't want to see St. James's turned into a "Soccer Theme Experience" with a tacky casino and all the rest of it.

 

Any investor, especially with the financial clout of some of the names being mentioned, could absolutely fuck the club over if it wanted to and I think we should all be slightly wary of that(!).

 

But on the other hands, cash, and loads of it, is the fastest route to solve all of our problems to be honest.

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At the moment I'd rather see a local consortium make an offer.

 

I was all for Ashley coming in and splashing the cash but I have been swayed by the initial success of our lower cost buys. The price of a player doesn't always have much bearing on how well he'll perform at your club.

 

The sad thing for me is that a polar argument has evolved over the benefits of a stable scouting system. To me, the structure is working to a point, it just needed tweaking to allow Keegan to have the final say (as was advertised).

 

I'm sure most of us don't want to see St. James's turned into a "Soccer Theme Experience" with a tacky casino and all the rest of it.

 

Any investor, especially with the financial clout of some of the names being mentioned, could absolutely fuck the club over if it wanted to and I think we should all be slightly wary of that(!).

 

But on the other hands, cash, and loads of it, is the fastest route to solve all of our problems to be honest.

In the short term....

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I think it's a case of 'be careful what you wish for' after the way Ashley's turned out. But a big injection of cash is the only way you can compete these days and a local consortium who could provide that just isn't going to happen. It's a tough one because I think a lot of us have concerns about all the foreign investment etc. but that's just the way football is going in the PL. I've never felt so apathetic about the game in general though. Its very soul is being destroyed imo.

Edited by alex

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agreed.

 

the people of newcastle need something other than a second rate team, funded by a liar.

 

DIC would possibly do a good job, but i think they'd be similar in terms of what they want to ashley. I.e. stabilise and then bring players through as a revenue stream.

 

the only clubs i see splashing the cash are Man city and possibly chelsea. spurs do but sell of the players they are replacing. we did the same. Man utd are in huge debt....

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WITH Mike Ashley having broken his public silence to confirm his desire to sell Newcastle United, vice-president Tony Jimenez was last night in Dubai setting up a meeting with representatives of billionaire group Dubai International Capital (DIC).

 

Is this Tony Jimenez the scout?

 

Would a billionaire business man commission a scout to do his business? Especially if it involves the sum of £260m.

 

No.

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DIC would possibly do a good job, but i think they'd be similar in terms of what they want to ashley. I.e. stabilise and then bring players through as a revenue stream...

I think you'll find this is wrong. Dubai have a fierce rivalry with Abu Dhabi. When DIC (Dubai) finally own a club in the Premier League, they'll want to outdo the Abu Dhabi group.

 

The only problem is this DIC group want Liverpool. We can only hope those yanks keep refusing DIC's overtures, they lose patience with them and they buy our club. :thumbup:

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WITH Mike Ashley having broken his public silence to confirm his desire to sell Newcastle United, vice-president Tony Jimenez was last night in Dubai setting up a meeting with representatives of billionaire group Dubai International Capital (DIC).

 

Is this Tony Jimenez the scout?

 

Would a billionaire business man commission a scout to do his business? Especially if it involves the sum of £260m.

 

No.

 

Scouting for potential buyers tbh :thumbup:

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DIC would possibly do a good job, but i think they'd be similar in terms of what they want to ashley. I.e. stabilise and then bring players through as a revenue stream...

I think you'll find this is wrong. Dubai have a fierce rivalry with Abu Dhabi. When DIC (Dubai) finally own a club in the Premier League, they'll want to outdo the Abu Dhabi group.

 

The only problem is this DIC group want Liverpool. We can only hope those yanks keep refusing DIC's overtures, they lose patience with them and they buy our club. :thumbup:

 

Might sound a bit ignorant but I think Newcastle is potentially more money generating than Liverpool on the long term, given that it's the only major club in the north east, bigger stadium, etc...

Nowhere near Liverpool in terms of foreign support or popularity, but this must be their job to achieve, right?

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Whatever the outcome is regarding DIC or any other buyer Ashley needs to get Keegan back & get rid of Wise.

 

Surely the club would be a more attractive option with Keegan back and if Ashley doesn't care anymore then why not get KK back in?

 

Rat dwarf will be gone regardless when it's sold so why delay the inevitable, he's keen on cost cutting anyway so 1 less numpty off the wage bill early doors makes sense.

 

Wise is a fucking scum bag for not resigning in the face of the protests he knew were coming.

 

At least Ashley has won some respect back with his statement.

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Whatever the outcome is regarding DIC or any other buyer Ashley needs to get Keegan back & get rid of Wise.

 

Surely the club would be a more attractive option with Keegan back and if Ashley doesn't care anymore then why not get KK back in?

 

Rat dwarf will be gone regardless when it's sold so why delay the inevitable, he's keen on cost cutting anyway so 1 less numpty off the wage bill early doors makes sense.

 

Wise is a fucking scum bag for not resigning in the face of the protests he knew were coming.

 

At least Ashley has won some respect back with his statement.

Agree apart from the last line. It's a pack of lies man.

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The only problem is this DIC group want Liverpool. We can only hope those yanks keep refusing DIC's overtures, they lose patience with them and they buy our club. :thumbup:

 

Which is why I doubt they'd spent huge money here if they did take over, if they had a virtually unlimited pot of cash then they would have offered Hicks and Gillett enough to buy their stakes but they seem to be haggling over price which leads me to believe that we wouldn't have the same sort of spending power as the likes of Chelsea and City.

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