Archive for tag: Mike Ashley takes Newcastle United off the market..

Here we go again – the next episode in the Toon soap opera begins.

October 28th, 2009 | 383 Comments |

Here we go again
Here we go again
Mike Ashley has taken Newcastle United off the market after 5 months and appointed Chris Hughton as permanent manager until the end of the 2010/2011 season.

Emotions were running high when this was announced last night but I wanted to try and analyse the situation a little more objectively in the cold light of day.

It looked like Barry Moat might actually have been in with a chance at one point. According to the press, he’d had a £40m up-front plus £40m at the end of the season deal rejected and had come back to Ashley with a £60m-£20m upgrade to that, having been led to believe by Ashley that it would be accepted. Ashley however did not accept it and decided to take the club off the market amongst a lot of familiar-sounding rhetoric.

The rhetoric sounds familiar because it’s pretty much what he said the last time he took the club off the market. He stressed his commitment to the future of Newcastle United then too and he put some money into the club, but then we were relegated and the club was up for sale once again. So I have no reason to believe that Ashley’s aim is to do anything but maximise the club’s appeal so that he can put it up for sale yet again. (more…)

Finally an end to the Toon takeover farce.

October 27th, 2009 | 65 Comments |

Ashley to remain for now
Ashley to remain for now
The following announcement was made on the Newcastle United site tonight:

NEWCASTLE United are delighted to announce that Chris Hughton has been named the permanent manager of the Club, his contract will run until the end of the 2010/11 season.

At the same time the Club has confirmed that it has been withdrawn from sale and is no longer on the market.

The Club had been trying to broker a deal with a number of prospective buyers in recent months however none of those deals came to fruition. With regard to the possible sale of the Club to Barry Moat, that particular bid has now fallen through due to the cash price of £80m not being met.

In confirming the news, Mike Ashley stated that he is totally committed to the future success of Newcastle United and will be focussing on gaining promotion back to the Premier League. Mike will put a further £20m into the Club this week.

Derek Llambias, Managing Director of Newcastle United, said:

We are delighted that Chris has accepted the post of full time manager. He has done a terrific job this season and we wish him every success for the rest of this season and beyond. He will continue to receive our full backing and support.” (more…)