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Llambias reports “more than two bids at £100m”.

Posted on July 6th, 2009 | 16 Comments |

Llambias:
Llambias: 'More than two bids at £100m'
Derek Llambias has informed local rag, the Evening Chronicle that “more than two bids at £100m” have been received for Newcastle United, and insisted that the price for the club was never going to be less. He added:

“At the moment we are in the hands of lawyers and it is all ongoing.

“We are giving interested parties all the help that they need.”

Of course, Llambias did not reveal the identity of the bidders, as this would almost certainly breach the protocol of the sale process.

The Chronic also reported that Llambias has once again pooh-poohed the credentials of highly questionable Singaporean land bankers, “The Profitable Group” as serious bidders for the club. However they report that “The talk in the capital today was that the group, who have former England man Steve McMahon on board, had put in a bid on Friday”. They also repeated reports about a Malaysian group being shown around St James’s Park by Llambias last Thursday. This group is thought to be linked with Malaysian billionaire, Ananda Krishnan.

Whilst much of this report is specious gossip, the quote from Llambias is a welcome reminder that the sale process is still ongoing at least.

Postscript

In a totally contridictory story, the Chronicle’s sister drivel factory ‘paper, “The Journal”, also reported today that Ashley’s price was too high for bidders, and that “Mike Ashley will have to lower his £100m asking price to achieve the quick sale of Newcastle United he told fans he was looking for in May.” It adds, “Legal representatives and accountants of the various consortia interested in the recently-relegated club have been poring over the Magpies’ books for the last couple of weeks before deciding whether to lodge official bids. But the biggest concern is a belief that the club is overvalued.

NUFCBlog Author: workyticket workyticket has written 1055 articles on this blog.

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16 Responses

  1. I love direct quotes me!!

    Can long-suffering Newcastle fans see light at the end of the dark, dark tunnel?

    Wheyaye man. Get that agreement signed!

  2. ‘In the hands of the lawyers’

    This would indicate excellant progress I would imagine.

  3. As you point out, like most of the press reports over the weekend, more press speculation as to who the bidding groups are. If two groups have offered more than Ashley’s asking price then things could start moving quickly once he (Ashley) accepts one of them. I just hope he doesn’t start playing silly bu**ers and tries to play one against the other to up their bids.

  4. Huggin says:
    July 6, 2009 at 3:58 pm

    “As you point out, like most of the press reports over the weekend, more press speculation as to who the bidding groups are.”

    Of course, Huggin, the confidentiality agreements will be tighter than a gnat’s chuff, so we should take all reports as to the identity of bidders with a bucket of salt.

  5. Stuart – That blog looked promising until you see that he has credited The Sun with the content.

  6. Contradictory stuff from Stuart Rayner in today’s Journal.

    “MIKE Ashley will have to lower his £100m asking price to achieve the quick sale of Newcastle United he told fans he was looking for in May.

    Legal representatives and accountants of the various consortia interested in the recently-relegated club have been poring over the Magpies’ books for the last couple of weeks before deciding whether to lodge official bids. But the biggest concern is a belief that the club is overvalued.”

    http://www.journallive.co.uk/nufc/newcastle-united-news/2009/07/06/mike-ashley-s-price-too-high-for-bidders-61634-24081250/

  7. Worky

    I just don’t think they talk to each other at that place!

    They musn’t do.

    Although I get the impression that the LLambias quotes weren’t got until after the first edition of the Chronicle.

    He must have confirmed same to SSN as it’s on thier breaking news ticker.

  8. We haven’t had many direct quotes since this sales process started, so even these meagre quotes from Llambias are welcome, if for no other reason that indicate that at least something’s happening behind the scenes.

    I’m a little concerned about how long this could take and hope that things get far enough to allow the appointment of a manager soon.

  9. The sale timeline is going to plan as outlined by Seymour Pierce at the outset. Once Ashley decides which bid he’ll accept and “Heads of Agreement” letters have been signed then the new owners can start making plans; although I’m not sure they can sign contractual documents on behalf of NUFC until the final sale documents have been signed, in which case they could only get Shearer in with the agreement of Mike Ashley.

  10. The most objectionable thing about Mr Llambias is the fact he looks like Martin Scorsese gone wrong.

  11. “But the biggest concern is a belief that the club is overvalued.”

    They’re probably right too.

  12. Any failing business is overvalued unless the buyer has foresight and belief that they can turn it round.

    If they get it right here £100m will look like the bargain of the century!

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