Archive for tag: Sale of Newcastle United Football Club.

Ashley reneges on terms he promised Moat.

October 27th, 2009 | 159 Comments |

What's the deal guys?
What's the deal guys?
According to an article posted on The Telegraph’s site late last night, Mike Ashley has turned down Barry Moat’s latest £80m bid for Newcastle United even though he’d previously said he’d accept the bid on the terms specified.

What the article says is that whilst Ashley had previously rejected Moat’s offer to take £40m down and £40m at the end of the season, the pair had reached agreement earlier last week for a deal involving £60m down and £20m at the end of the season.

However when Barry Moat made such an offer on Friday, Ashley – after considering it for a few days – rejected the offer anyway, insisting he now wants the whole £80m up-front.

The Telegraph speculates that Ashley is playing hardball with Moat to give any other bidders a chance to show their hand.

To be fair, once I get past my desire to see the back of him, I have a certain amount of sympathy with Ashley over this. (more…)

Moat bids £80m, which is really £60m cash. Fans try to bash Ash.

October 25th, 2009 | 124 Comments |

Ashley - in the red corner
Ashley - in the red corner
Apparently Barry Moat tabled an £80m bid for Newcastle United on Friday and Mike Ashley had to be saved from angry fans by stewards during the away match to Scunny.

Divven get too excited though – it’s News of the World time again.

First, Barry Moat’s bid. Sport of the World has apparently ‘learned’ that Barry Moat put in an £80m bid for Newcastle on Friday after being given the go-ahead by his financial backers.

It seems this bid consists of £60m down plus a finance package to appease Barclays Bank which will see Moat inject another £20m into the club immediately.

I’m a bit confused by the newspaper’s claims here because surely that’s a £60m bid as far as Mike Ashley is concerned isn’t it? Which of course he’ll most probably refuse. Anyway, Moat was supposed to have been promised a decision on Friday but it seems Ashley has since asked for a few more days to consider Moat’s offer. (more…)