Archive for tag: £100m offer for Newcastle United.

Ashley is offered £100m to shove off.

September 19th, 2009 | 114 Comments |

Get out of this toon
Get out of this toon
According to a statement the club made to The Journal, Ashley’s £100m asking price has been met and ‘all parties are at the sale and purchase stage‘, which sounds a bit different to any parties I’ve been to.

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. (more…)