Archive for tag: South African bid for club.

Ashley will take Moat’s £80m, but only if it is paid upfront.

October 19th, 2009 | 33 Comments |

"It's my money so I'll have the final say on transfers"
"It's my money so I'll have the final say on transfers"
Mike Ashley is now prepared to take £80m for Newcastle United but will there be any takers?

Amidst another petulant stab at the fans in yesterday’s Times, Mike Ashley announced:

Barry Moat has been driving me mad for two years. If he wants to buy the club, he’s got a one-off opportunity to come up with the cash – £80m upfront.”

So one question is: can he or anyone else find the money? Another might be: is Newcastle United worth £80m?

The Times speculates that Barry Moat has agreed to pay the £80m that Ashley’s asking, but not ‘upfront’. Apparently Moat wants to pay £40m now and £40m at the end of the season. It’s anyone’s guess as to why Barry Moat wants to do things like this. Perhaps he has only been guaranteed the second £40m from his backers if Newcastle gets promoted, although that would be a huge risk for Barry Moat to take because if we didn’t manage promotion and the funds didn’t materialise then Moat is stuck with an outstanding £40m debt that, it seems, he won’t be able to pay. (more…)

South African bond man bids for Toon (possibly).

October 7th, 2009 | 61 Comments |

No, not that sort of bond man
No, not that sort of bond man
Some newspapers are reporting that a South African businessman is now interested in Newcastle United.

I rather suspect this could be a case of ‘here we go again’ as bids are rumoured and then fall by the wayside but you never can tell with this sort of thing – very occasionally a rumour turns out to be true.

Anyway, this particular rumour has a wealthy South African bond dealer supposedly having met the representatives of Barclays Bank who are involved in the sale of Newcastle United.

This bond dealer is allegedly represented in this country by solicitors Mishcon de Reya and at least one journalist – the Birdman at the Mirror – claims a ‘form of due diligence’ has already been completed by the South African.

The Mail, however, seems to think that no due diligence has been undertaken and warns that we could face a delay of many weeks while it’s completed. (more…)