NUFC owner Ashley calls in football's Mr Fixit

[Sima 0]

More chance of selling the club now, I think this will see the asking price come down- they have to justify the club valuation and clearly there is little to justify Ashley's valuation on a sensible business basis.

 

I think we'll see this concluded (before due diligence) in the next two weeks.

 

I really hope you're right. We'll be bottom of the table by the time any takeover is concluded anyway, but if this goes on for much longer, it will be too late to climb back to safety.

 

the only thing I'm bothered about here, again, is whether or not the new owner have the good of the club at heart and understand that it all revolves first and foremost on how successful the first team is.

 

I understand and share your concerns however I think most of us agree that almost anything is better than what we have now. If the new lot are worse then we are fucked, plainly and simply fucked.

 

I'm sure I've heard that before.

[Matt 0]

I still think that Ashleys intentions and actually even his "plans" for the club were well-hearted and sensible. It just went downhill the moment he started to appoint drinking buddies for jobs that were far beyond their limited abilities.

 

If any takover goes through I have several concerns. Al Leazes said, first of all the new owners must have the club at heart. But there are more issues. How are they taking it business wise. Will they transfer the debts from the purchase onto the club (something that Ashley after all didn't do). Will they really act professinally (something Ashley only did until after the appointment of Keegan)? Will they invest to fulfil their ambition both with the present and the future of the club in mind?

 

At the moment I am not sure what to want. On paper I think Ashley was the ideal owner. English, interested, with a heart for fan's demands. Unfortunately he was either or both a liar and a dumwit. With new obscure owners like companies looking for a quick profit (too?) or with questionable credibility (Nigeria, China?) I am not sure it is really the direction of the club I want it heading too. The only unfortunate thing I know is that I do not seem to care as much as I did a couple of weeks ago...

 

I agree with a lot of that. I do think Ashley had the right idea, started to go about it the wrong way and has since presided over an absolute shambles and left himself in a situation where he will have to sell up.

 

Just to interject with my finance hat on-

 

I dont think burdening the club with debt will be possible- typically a debt financing will involve a clause whereby earnings to debt ratios (EBITDA:Net Debt) must stay within a certain level or else they are in default on the debt. I don't think we can enter such an arrangement as our earnings will not be high enough to keep this leverage to a suitably low level. In the current climate, I doubt such a package would be available for some time. Indeed even short-term bridge financing is unlikely before the new year so any investor will need access to cold hard cash to complete the deal. Refinancing will only be possible once the financial performance of the company improves. Encumbering the club with risky (and therefore expensive) debt will only serve to increase interest costs and prevent investors getting any sort of return.

[LeazesMag 0]

More chance of selling the club now, I think this will see the asking price come down- they have to justify the club valuation and clearly there is little to justify Ashley's valuation on a sensible business basis.

 

I think we'll see this concluded (before due diligence) in the next two weeks.

 

I really hope you're right. We'll be bottom of the table by the time any takeover is concluded anyway, but if this goes on for much longer, it will be too late to climb back to safety.

 

the only thing I'm bothered about here, again, is whether or not the new owner have the good of the club at heart and understand that it all revolves first and foremost on how successful the first team is.

 

I understand and share your concerns however I think most of us agree that almost anything is better than what we have now. If the new lot are worse then we are fucked, plainly and simply fucked.

 

true

[sammynb 2929]

Playing devils advocate, the Nigerians could be a great solution (as long as they don't see the database with all our emails that we've sent to the club!)

They hail from a country that is one of the strongest in Africa as a footballing nation that is an untapped market for player resources and potential as supporters.

Plus you would have to consider that if it is oil money chances are they will be looking to appoint at least a locally based board/administration for the club. Not one based in London.

Consider the appeal for Nigerian players to join Oba at the toon!

Taribo West as chairman anyone?

Edited September 23, 2008 by sammynb

[Ketsbaia 0]

Taribo West as chairman anyone?

 

Will it be th Taribo West we all know and love from Champ Manager 01/02?

[sammynb 2929]

Taribo West as chairman anyone?

 

Will it be th Taribo West we all know and love from Champ Manager 01/02?

 

I'm hoping for the 2002 World Cup Taribo West complete with the green antleers!

Funnily enough it turns out he's afree agent atm!

[Rob W 0]

"top City investment bank Seymour Pierce,"

 

Oh no they're not - they are providers of advice to small companies starting up, looking for a flotation or to raise money

 

V Good if you want to float your own outfit for a few million quid but NOT a major investment institution....................

[David Kelly 1115]

I think the chances of us getting anyone who has the club at heart are slim to none. What is much more likely is either someone very rich who wants a play thing or (most likely) someone who wants to buy a premiership team for their country and look to make money out of it.

 

There are no geordie multi bilionaires hiding out there waiting to ride in on a white horse.

 

The best we can realistically hope for is someone who can put some money into the team, who can bring a decent manager in and not interfere too much and most importantly can properly run the club.

[Snake 0]

More chance of selling the club now, I think this will see the asking price come down- they have to justify the club valuation and clearly there is little to justify Ashley's valuation on a sensible business basis.

 

I think we'll see this concluded (before due diligence) in the next two weeks.

Makes sense, If he wasn't prepared to consider a sensible price there'd be no point in bringing in Seymour Pierce. A magician couldn't sell the club for 480m let alone a bloke with his hand up a duck's arse.

[Fop 1]

A lot of the Arab investors courted last week seemed to be strictly interested with a view to investing in the true sense of the word which is probably better from a business angle but again unsure about the football side.

 

I think they are our best bet still.

 

Whether they'd be in anyway interested is a different matter, but still Man City, so you never know.

[Ketsbaia 0]

Taribo West as chairman anyone?

 

Will it be th Taribo West we all know and love from Champ Manager 01/02?

 

I'm hoping for the 2002 World Cup Taribo West complete with the green antleers!

Funnily enough it turns out he's afree agent atm!

 

Afree Agent? Another Nigerian?

[Guest stormrider]

Official NUFC Statement - Seymour Pierce

 

THE Board of Newcastle United can today confirm it has appointed the London-based investment bank Seymour Pierce to act on the potential sale of the Club.

 

All matters relating to the sale of the Club, including inquiries from interested parties, should go through Seymour Pierce.

 

The Club will be making no further comment at this time.

[henda11 0]

Official NUFC Statement - Seymour Pierce

 

THE Board of Newcastle United can today confirm it has appointed the London-based investment bank Seymour Pierce to act on the potential sale of the Club.

 

All matters relating to the sale of the Club, including inquiries from interested parties, should go through Seymour Pierce.

 

The Club will be making no further comment at this time.

That is basicly saying Mike Ashley is bored of trying to find a potential buyer, so he's given up hope, appointed this bloke to deal with any other people that want to bid on or buy the club because he is too lazy like fucking always to put up with people himself face to face. I like everyone else wants a quick finish to this shit.

[bawan 0]

http://www.toontastic.net/board/index.php?showtopic=21144

[Dr Gloom 19736]

there is no new news in this statement. no need for the exclamation marks

[Guest stormrider]

oops sorry!

mods please merge topics or delete this one.

[Fop 1]

What's the e-mail address?

[maggiespaws 0]

More chance of selling the club now, I think this will see the asking price come down- they have to justify the club valuation and clearly there is little to justify Ashley's valuation on a sensible business basis.

 

I think we'll see this concluded (before due diligence) in the next two weeks.

 

I really hope you're right. We'll be bottom of the table by the time any takeover is concluded anyway, but if this goes on for much longer, it will be too late to climb back to safety.

 

the only thing I'm bothered about here, again, is whether or not the new owner have the good of the club at heart and understand that it all revolves first and foremost on how successful the first team is.

 

I understand and share your concerns however I think most of us agree that almost anything is better than what we have now. If the new lot are worse then we are fucked, plainly and simply fucked.

I still think that Ashleys intentions and actually even his "plans" for the club were well-hearted and sensible. It just went downhill the moment he started to appoint drinking buddies for jobs that were far beyond their limited abilities.

 

If any takover goes through I have several concerns. Al Leazes said, first of all the new owners must have the club at heart. But there are more issues. How are they taking it business wise. Will they transfer the debts from the purchase onto the club (something that Ashley after all didn't do). Will they really act professinally (something Ashley only did until after the appointment of Keegan)? Will they invest to fulfil their ambition both with the present and the future of the club in mind?

 

At the moment I am not sure what to want. On paper I think Ashley was the ideal owner. English, interested, with a heart for fan's demands. Unfortunately he was either or both a liar and a dumwit. With new obscure owners like companies looking for a quick profit (too?) or with questionable credibility (Nigeria, China?) I am not sure it is really the direction of the club I want it heading too. The only unfortunate thing I know is that I do not seem to care as much as I did a couple of weeks ago...

 

I agree with a lot of this too. Ashley seemed the right man for us but it's gone downhill. He's very quickly made his mind up to sell though. The cynic in me feels that the 'fans revolt' has provided him with the excuse he was maybe already looking for? Other areas of his business have been affected and so maybe he's looking to jettison NUFC. KK's departure has made that all the more difficult.

 

I've tried looking at this from a distance to try and get some perspective, even hoping for a way back in for MA so we can quickly move on from this - but events of the last week or so seem to nullify this. I don't believe what I've read about Dubai etc as the papers didn't seem to print the truth before we lost KK so I don't believe they have suddenly started now.

 

I'm an optimistic sort of bloke and try to see both sides before making a judgement. I have to say though, all I feel now is despair and despondence. I really can't see where we're going to go from here other than free fall.

 

I was too young to fully understand the stuff going on in the mckeag era, but I do now. This is as bad as anything going on then I think. We are in the hands of others no with now idea of where we are headed.

Edited September 23, 2008 by maggiespaws

[Fop 1]

I agree with a lot of this too. Ashley seemed the right man for us but it's gone downhill. He's very quickly made his mind up to sell though. The cynic in me feels that the 'fans revolt' has provided him with the excuse he was maybe already looking for? Other areas of his business have been affected and so maybe he's looking to jettison NUFC. KK's departure has made that all the more difficult.

 

I've tried looking at this from a distance to try and get some perspective, even hoping for a way back in for MA so we can quickly move on from this - but events of the last week or so seem to nullify this. I don't believe what I've read about Dubai etc as the papers didn't seem to print the truth before we lost KK so I don't believe they have suddenly started now.

 

I'm an optimistic sort of bloke and try to see both sides before making a judgement. I have to say though, all I feel now is despair and despondence. I really can't see where we're going to go from here other than free fall.

 

I was too young to fully understand the stuff going on in the mckeag era, but I do now. This is as bad as anything going on then I think. We are in the hands of others no with now idea of where we are headed.

 

I honestly think that he bought NUFC in a different financial world and his plans have changed quite a bit with the sea-change in economic markets.

 

And I'm fairly convinced that it's not taken much to push him into trying to get rid.

 

The things I absolutely don't understand are how we've ended up here when he's had many options of avoiding it, even if he still wanted to off load the club (and indeed would have been in a better position to offload the club).

 

I'm sure the issues with Keegan could have been sorted without necessarily any of the current middle-management having to go, although the balance of power would have needed to be tipped drastically.

 

 

 

Once the court cases are settled, and hopefully NUFC comes out in more or less one piece it'll be interesting to read the memoires of the major players in the last 12 months or so.