Ashley is offered £100m to shove off.
Posted on September 19th, 2009 | 114 Comments |
The Journal then goes on to speculate that it could still be some time before the takeover situation is resolved and they quote ‘sources’ who say the club has just renegotiated a £25m overdraft with Barclays, reduced from last seasons £39m facility.
The Journal further speculates that Barry Moat is behind the £100m offer but that Barclays are not prepared to offer him the same £25m overdraft facility they’ll offer to Ashley.
‘Sources’ have apparently also confirmed that 2 overseas parties are also still interested in the club and have progressed beyond the due diligence phase, although they haven’t yet made formal offers.
So what can we make of this? I suspect our decent start to the season has encouraged Ashley to think about the possibilities of promotion. If he hangs onto the club and we do get promoted, he’ll probably be able to at least double his asking price. Although he’ll be taking a risk in doing that – we might not get promoted and the club may then be worth less than it is now and his potential buyers might have disappeared.
Ashley, having seen his personal fortune drop from £2b to £800m, will obviously want to get the best return he can for Newcastle United (who, after all, could live on a mere £800m?) but then there’s this Serious Fraud Office stuff he has to contend with – he might feel that he can better concentrate on that if he gets shot of the club.
Ashley has to go. He doesn’t want the club and we’ll never be able to plan for the long-term while he’s there. The sooner he goes the better in my opinion, although within reason: I don’t want the club sold to someone who can’t afford to run it, although I’m not convinced how much of a risk there really is of that happening.
Time will tell I suppose.
Hugh, Hugh, Barney Mcgrew!
Sterling work on the articles considering your condition. Not your age I mean. Your illness. ;)
Geroota Dodge ya cowboy, this town ain’t big enough for the both of us!
Nah, I’d just like to see something positive happen but false dawns and all that…