Archive for tag: Barclays.

Ashley, Shearer, Keegan, Moat … latest.

September 23rd, 2009 | 21 Comments |

Edging close perhaps
Edging close perhaps
Reports in The Mail and The Mirror are suggesting that Newcastle United may be sold by the end of this week. We’ve heard it all before of course but one of the newspapers will get it right one day and maybe it’s today.

Last week Newcastle issued a statement saying that Ashley’s £100m asking price has been met and all deals were now at the ‘sale and purchase stage‘ and apparently senior staff at the club have been told to brace themselves for ‘a big week‘ this week.

It was speculated that the sticking point was the loan facility with Barclays, so presumably – if a sale is imminent – that has now been sorted out and Barry Moat is in a position to take over the club.

If Moat takes over it is of course widely thought that Alan Shearer will be appointed as manager, although whether or not that’s a good idea still divides fans. At a function last week Shearer was indicating that he would not wait for Newcastle forever and was prepared to consider managing another club, but if the takeover is as close as the newspapers are suggesting it looks like Shearer won’t have to do that. (more…)

NUFC Statement.

August 24th, 2009 | 56 Comments |

Club Statement
Club Statement
It simply reads:

NEWCASTLE United Football Club confirms that it has extended its deadline to Barry Moat to table an offer for the Club.

The extension has been granted in order to allow Barry Moat and his advisors to conclude funding arrangements with Barclays, current bankers, for the continuation of last season’s £39m facility.

This would allow a formal offer to be tabled.

It does tell us that Barry Moat is probably the only remaining serious contender and that the Barclays overdraft/loan facility will be the deciding factor in whether or not a successful bid is tabled. If Barclays cooperate then I assume it’s just up to Ashley to decide whether to accept the offer or not.