Tom 13847 Posted June 17, 2009 Share Posted June 17, 2009 Just one bid? Well if it's genuine it's better than last time Link to comment Share on other sites More sharing options...
smoggeordie 0 Posted June 17, 2009 Share Posted June 17, 2009 Surely gonna be FFS getting in there before others can. Link to comment Share on other sites More sharing options...
Tom 13847 Posted June 17, 2009 Share Posted June 17, 2009 Hmm I wonder/fear where the money is going to come from. Link to comment Share on other sites More sharing options...
The Fish 8989 Posted June 17, 2009 Share Posted June 17, 2009 I really don't want Shepherd back, but if it turns the ignition on this season... so be it. Link to comment Share on other sites More sharing options...
Tom 13847 Posted June 17, 2009 Share Posted June 17, 2009 So long as this consortium has money and Shepherd is accountable to somebody It will be ok. Link to comment Share on other sites More sharing options...
The Fish 8989 Posted June 18, 2009 Share Posted June 18, 2009 So long as this consortium has money and Shepherd is accountable to somebody It will be ok. yeah and that's exactly the kind of luck we normally have. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 18, 2009 Share Posted June 18, 2009 Just one bid? Well if it's genuine it's better than last time the $64 question innit... The sale of Newcastle United moved a step closer last night as one of the groups putting together a buy-out package finally made an offer. Owner Mike Ashley is asking for £100million and yesterday was the deadline for interested parties to ask for due diligence and prove they have the cash. Newcastle’s former chairman Freddy Shepherd is among the consortia vying to buy the club from Ashley, who has spent more than £300m since he took over from Shepherd and the Hall family two years ago. Guess not. Link to comment Share on other sites More sharing options...
smoggeordie 0 Posted June 18, 2009 Share Posted June 18, 2009 MIKE ASHLEY’S attempts to sell Newcastle United took a crucial step forward last night when the first formal offer for the club was made. The identity of the group that has made the first serious move to take over at St James’ Park remains unknown, as does the value of the offer. Nevertheless, this is a key development in Ashley’s determination to offload the Championship club before pre-season training begins on July 1. Four consortia were due to begin a process of due diligence yesterday, with the groups who have provided proof of their funding beginning to trawl through the books at St James’ Park. And it was thought last night that one of those has jumped ahead of the rest and tabled a bid to buy out Ashley, who put a £100m price-tag on the club late last month. If the terms are to Ashley’s liking then the bid could be accepted within the next 48 hours, with the Newcastle owner keen to avoid an auction. Earlier this month managing director Derek Llambias suggested that whoever came up with the right bid first would be sold the club. The Singapore-based Profitable group, thought to have former Newcastle chairman Freddy Shepherd among its members, plus consortia from America and Oman are believed to make up the quartet who have signed confidentiality agreements. While it remains unclear whether it is one of those that has made the first offer, Newcastle supporters will be relieved there has finally been some movement after weeks of stand-off. The sooner an agreement can be reached the better, particularly as Alan Shearer has been waiting to hear whether he will be appointed the next permanent manager. Shearer was still in the dark over his future yesterday, although the news of the offer could see quick progress made on the manager’s front. Llambias had claimed there could be movement on the manager’s situation “by the end of this week” and Shearer is trying to remain hopeful there will soon be a favourable outcome. But he had heard nothing from officials in St James’ Park last night, despite suggestions he will be formally appointed if all of the parties interested in taking over agree to his installation. Tellingly, though, Newcastle did confirm their first three pre-season fixtures ahead of their first season outside of the top-flight in 17 years yesterday. The first match will see Newcastle head for The Northern Echo Darlington Arena to face Quakers on July 18 (kick-off 12.30pm). Then the Magpies go to League One Huddersfield, managed by former Newcastle ace Lee Clark, on July 21 (7.45pm) before taking on Leeds United at St James’ Park on July 29 (7.45pm). A statement issued by Newcastle also insisted that “further fixtures would be announced soon” and Shearer would like to have a say on those remaining matches. With the process of due diligence normally expected to take two weeks, Shearer knows the sooner he can slip into the role and start to make firm decisions the better. It could be that he will find out within the next 48 hours, although sources close to the former Newcastle captain insist he is not taking anything for granted. If he is appointed, as well as finalising the remainder of the club’s pre-season schedule, Shearer will also hope to make quick inroads towards assembling a squad for the Championship. An agency, First Artists, are working on selling off most of Newcastle’s highest earners and it will only be then that the incoming manager will be able to introduce some new signings. One player Shearer had hoped to retain was Steven Taylor, although West Ham United have stepped up their interest in the centre-back who’s regarded as a possible Magpies captain next season. Link to comment Share on other sites More sharing options...
Happy Face 29 Posted June 18, 2009 Share Posted June 18, 2009 Derek Llambias suggested that whoever came up with the right bid first would be sold the club. If I can't sell the club to someone who will give the fans what they want, then I shall continue to ensure that Newcastle is run on a business and football model that is sustainable. I care too much about the club merely to abandon it. I have the interests of Newcastle United at heart. -Mike Ashley 14/09/2008 Link to comment Share on other sites More sharing options...
ewerk 26352 Posted June 18, 2009 Share Posted June 18, 2009 Derek Llambias suggested that whoever came up with the right bid first would be sold the club. If I can't sell the club to someone who will give the fans what they want, then I shall continue to ensure that Newcastle is run on a business and football model that is sustainable. I care too much about the club merely to abandon it. I have the interests of Newcastle United at heart. -Mike Ashley 14/09/2008 I think he's given up all pretensions of not being a cunt. Link to comment Share on other sites More sharing options...
Park Life 70 Posted June 18, 2009 Author Share Posted June 18, 2009 Interesting post from N.O. The club may have been balance sheet insolvent (as are half the premiership) but it was not cash flow insolvent. "Many large companies operate permanently in this state." - Wiki. The net debt repayments were around £7m per year. This is not an unsustainable amount. The majority of the debt was the £45m remaining on the stadium loan which was a long term contract that couldn't be foreclosed on unless the ownership changed, so your doomsday scenario of all the debtors wanting their money NOW could not in fact have happened under the old board with the financial arrangements they had in place. In 06-07, the operational loss before player trading & amortisation was £0.3m. The actual cash flow loss was < £10m more out than in. Not great, however this was in the knowledge that we were going to get a £18m boost in turnover the following year from TV revenue alone. Running the club in the same way (that includes having a £10m transfer budget), with anything less than a 14% increase in expenditure (due to wages say) would have seen us break even or make a profit. Are you telling me that would have been impossible to do under the old board? That they were inevitably going to let costs run away even more? It's possible they would have increased the debt slightly if they could get the finance, but it was certainly not a necessary inevitability as some are making out. I know I keep mentioning it, but I think it's an important point when the old board is being accused of financial mismanagement based on the amount of the debt, but the majority of the debt was due to the stadium expansion which was paying for itself over time and bringing in extra revenue. I don't know about you, but I don't call this financial mismanagement, I call it a shrewd investment. Only the remainder of the debt, around £25m, was due to "wasting money on trophy players", to get us into Europe on average 1 year in 2. This level of operational debt is less than most clubs in the premiership (all but Blackburn and the the 3 promoted teams in 07-08). Again, I fail to see how anyone can call this level of debt financial mismanagement,. Finally, in response to you're implication that we were in debt up to our absolute limit in another thread, I apologise for the lack of credibility and the location of the link, but I couldn't find a better source. I have no reason to think the Man U fan made it up : http://www.joinmust.org/forum/showthread.php?t=24381 Link to comment Share on other sites More sharing options...
NJS 3979 Posted June 18, 2009 Share Posted June 18, 2009 Good post - minor irritation on the Manc post - "Newcastle United top league.......with United second" Link to comment Share on other sites More sharing options...
ewerk 26352 Posted June 18, 2009 Share Posted June 18, 2009 Interesting post from N.O.The club may have been balance sheet insolvent (as are half the premiership) but it was not cash flow insolvent. "Many large companies operate permanently in this state." - Wiki. The net debt repayments were around £7m per year. This is not an unsustainable amount. The majority of the debt was the £45m remaining on the stadium loan which was a long term contract that couldn't be foreclosed on unless the ownership changed, so your doomsday scenario of all the debtors wanting their money NOW could not in fact have happened under the old board with the financial arrangements they had in place. In 06-07, the operational loss before player trading & amortisation was £0.3m. The actual cash flow loss was < £10m more out than in. Not great, however this was in the knowledge that we were going to get a £18m boost in turnover the following year from TV revenue alone. Running the club in the same way (that includes having a £10m transfer budget), with anything less than a 14% increase in expenditure (due to wages say) would have seen us break even or make a profit. Are you telling me that would have been impossible to do under the old board? That they were inevitably going to let costs run away even more? It's possible they would have increased the debt slightly if they could get the finance, but it was certainly not a necessary inevitability as some are making out. I know I keep mentioning it, but I think it's an important point when the old board is being accused of financial mismanagement based on the amount of the debt, but the majority of the debt was due to the stadium expansion which was paying for itself over time and bringing in extra revenue. I don't know about you, but I don't call this financial mismanagement, I call it a shrewd investment. Only the remainder of the debt, around £25m, was due to "wasting money on trophy players", to get us into Europe on average 1 year in 2. This level of operational debt is less than most clubs in the premiership (all but Blackburn and the the 3 promoted teams in 07-08). Again, I fail to see how anyone can call this level of debt financial mismanagement,. Finally, in response to you're implication that we were in debt up to our absolute limit in another thread, I apologise for the lack of credibility and the location of the link, but I couldn't find a better source. I have no reason to think the Man U fan made it up : http://www.joinmust.org/forum/showthread.php?t=24381 Which is why I told you in the Administration thread that we're not fucked. Link to comment Share on other sites More sharing options...
Park Life 70 Posted June 18, 2009 Author Share Posted June 18, 2009 £10m in player bonuses due end of month. Link to comment Share on other sites More sharing options...
ewerk 26352 Posted June 18, 2009 Share Posted June 18, 2009 £10m in player bonuses due end of month. Bonuses for what? Link to comment Share on other sites More sharing options...
Tom 13847 Posted June 18, 2009 Share Posted June 18, 2009 Source? Link to comment Share on other sites More sharing options...
Park Life 70 Posted June 18, 2009 Author Share Posted June 18, 2009 £10m in player bonuses due end of month. Bonuses for what? Sitting around mostly. Link to comment Share on other sites More sharing options...
Park Life 70 Posted June 18, 2009 Author Share Posted June 18, 2009 Source? Chronickill. Link to comment Share on other sites More sharing options...
Kitman 2188 Posted June 18, 2009 Share Posted June 18, 2009 £10m in player bonuses due end of month. Bonuses for what? Sitting around mostly. You only get bonuses for winning surely? Link to comment Share on other sites More sharing options...
Park Life 70 Posted June 18, 2009 Author Share Posted June 18, 2009 £10m in player bonuses due end of month. Bonuses for what? Sitting around mostly. You only get bonuses for winning surely? Well of course sweetie we all look forward to the end of capitalism. Link to comment Share on other sites More sharing options...
Kitman 2188 Posted June 18, 2009 Share Posted June 18, 2009 £10m in player bonuses due end of month. Bonuses for what? Sitting around mostly. You only get bonuses for winning surely? Well of course sweetie we all look forward to the end of capitalism. Today I award myself a bonus for turning up to work. Well done, me. Link to comment Share on other sites More sharing options...
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