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It just seems that Shearer and Ashley were unable to come to an agreement, and that was Ashley's last hope for taking things forward. The idea of then turning to another manager and dealing with the furore that would result was too much to contemplate. The new man would always be Ashley's stooge in the eyes of fans, and particularly when the first team might continue to struggle, the atmosphere would deteriorate. It's a similar set of circumstances that made him decide to bail out before when Keegan went.

 

I just hope that this time it is a quick sale. I'm not sure how attractive a proposition we are, because the club must look ungovernable at the moment.

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Guest toonlass

How long can due diligence take? If its really done and not just f***ed up like when Ashley didn't bother to do it last time. Cos any delays now and we are f***ed for next season.

someone has to be interested first

 

Obviously Sherlock  :doh:

 

Anyone with the real answer please?

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Terrible news. Agree with BobYule that it means that Ashley couldn't afford Shearer's plans and can't afford to dump Shearer. Whatever the truth of the overdraft we are in for a Summer of fire sales where we'll lose Taylor and Bassong cheaply and manage to keep Duff and Geremi. The sale of the club will spill into next season so we'll start the campaign with a temporary manager and the club in turmoil. The only plus I can see is that the sale of the JJB shares indicates Ashley is doing something to prevent a total meltdown.

 

Hard to see where the £40m overdraft comes from given the profits we've made in the last two transfer windows and the fact that we don't have interest payments on the stadium now.

 

Next season a virtual disaster already!

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So he throws us into even more turmoil then. Club for sale again, Manager not appointed (If Shearer is appointed will the new owners want him?), Total rebuild of squad required, £100m loan to pay back to Ashley, etc.

 

Who the hell is going to buy us now we are a Championship side?

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Terrible news. Agree with BobYule that it means that Ashley couldn't afford Shearer's plans and can't afford to dump Shearer. Whatever the truth of the overdraft we are in for a Summer of fire sales where we'll lose Taylor and Bassong cheaply and manage to keep Duff and Geremi. The sale of the club will spill into next season so we'll start the campaign with a temporary manager and the club in turmoil. The only plus I can see is that the sale of the JJB shares indicates Ashley is doing something to prevent a total meltdown.

 

Hard to see where the £40m overdraft comes from given the profits we've made in the last two transfer windows and the fact that we don't have interest payments on the stadium now.

 

Next season a virtual disaster already!

those transfer window profits (monies that haven't actually been paid yet) wont even be enough to cover the losses from those seasons. the club was running at a loss.
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Terrible news. Agree with BobYule that it means that Ashley couldn't afford Shearer's plans and can't afford to dump Shearer. Whatever the truth of the overdraft we are in for a Summer of fire sales where we'll lose Taylor and Bassong cheaply and manage to keep Duff and Geremi. The sale of the club will spill into next season so we'll start the campaign with a temporary manager and the club in turmoil. The only plus I can see is that the sale of the JJB shares indicates Ashley is doing something to prevent a total meltdown.

 

Hard to see where the £40m overdraft comes from given the profits we've made in the last two transfer windows and the fact that we don't have interest payments on the stadium now.

 

Next season a virtual disaster already!

 

Because the profits we made in the transfer windows were not paid in full. Despite our policy being we pay in full for players, our policy for selling players was not the same and so the likes of the Milner money was not paid all in one go. This may explain the use of the overdraft facility offered to us rather than the use of a loan.

 

However as is the same with all overdrafts the bank has the legal right to reduce or withdraw any overdraft facility. There is usually a period of 21 days notice given to the indivdual.

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So he throws us into even more turmoil then. Club for sale again, Manager not appointed (If Shearer is appointed will the new owners want him?), Total rebuild of squad required, £100m loan to pay back to Ashley, etc.

 

Who the hell is going to buy us now we are a Championship side?

 

Chances are the loan agreement will be covered in the contract signed by the buyer meaning there will be no loan.

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I'd love to see NE5's take on all this (so long as it didn't descend into the usual custard pie event - which wasn't always his fault btw).

"told you so,everything was just peachy before he came in"
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Christ what a mess! If Ashley is 'owed' 100m? by the club, (ie the money he put in to pay off debts), I can't see us finding a buyer. They'd need 250m minimum. Longer this goes without some resolution and that's another season finished before it begins. And finally, why am I repeating what everyone else has already said?

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Guest Stephen927

My main concern is selling the club to the right people. Obviously I doubt Ashley cares very much who he sells it to and what their intentions are, we're in the Championship and he just wants to wash his hands of the mess he's created and lost a load of money on.

 

I'm hoping the right people come along who want to invest in the playing side of the club a lot more than Ashley was willing to, and we don't find another Mike Ashley out there who thinks you can make a profit from running a football club.

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I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

IF this is true, it means more people coming in and changing everything to do it their way. They will inherit someone elses (and many different peoples) styles of management, ownership, hierarchy, players etc. Even with all of the problems this was a chance to rebuild on the foundations that have been happening. I'll be very disappointed and wary if this ever becomes official. I personally hope it doesn't.

 

Funny how its not all over SSN with the normal camera trucks recording the 'We got what we always wanted' mongs outside SJP.

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Guest Gemmill

I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

Direct quotes from Ashley in the Sunday Times suggest it's true.

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I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

Direct quotes from Ashley in the Sunday Times suggest it's true.

 

And you believe everything in the papers?

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I'm very worried. Does this mean he won't be bothering to sort the club out while he is looking for a buyer? Does this mean new players aren't being sort? Scary stuff.

 

Who would pay £100m for a Championship club never mind one which also owes £100m to Mike Ashley on top?

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Guest Gemmill

I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

Direct quotes from Ashley in the Sunday Times suggest it's true.

 

And you believe everything in the papers?

 

:lol: You don't think there might be some legal issues if they just completely make up an interview with Ashley where he says he's gonna sell the club?

 

No I don't believe everything I read in the papers, but I believe the believable stuff.  Do you disbelieve everything you read in the papers?

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It just seems that Shearer and Ashley were unable to come to an agreement, and that was Ashley's last hope for taking things forward. The idea of then turning to another manager and dealing with the furore that would result was too much to contemplate. The new man would always be Ashley's stooge in the eyes of fans, and particularly when the first team might continue to struggle, the atmosphere would deteriorate. It's a similar set of circumstances that made him decide to bail out before when Keegan went.

 

I just hope that this time it is a quick sale. I'm not sure how attractive a proposition we are, because the club must look ungovernable at the moment.

 

The club has massive potential.

 

We need one bloke who is committed and has some brains.

 

Step forward Chez Given.

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I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

Direct quotes from Ashley in the Sunday Times suggest it's true.

 

And you believe everything in the papers?

 

I can't believe you're still defending this lot.

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It just seems that Shearer and Ashley were unable to come to an agreement, and that was Ashley's last hope for taking things forward. The idea of then turning to another manager and dealing with the furore that would result was too much to contemplate. The new man would always be Ashley's stooge in the eyes of fans, and particularly when the first team might continue to struggle, the atmosphere would deteriorate. It's a similar set of circumstances that made him decide to bail out before when Keegan went.

 

I just hope that this time it is a quick sale. I'm not sure how attractive a proposition we are, because the club must look ungovernable at the moment.

 

The club has massive potential.

 

We need one bloke who is committed and has some brains.

 

Step forward Chez Given.

 

:D

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I'll believe it when its official as I honestly believe its Sunday morning paper talk at a quiet part of the year. Any story related to NUFC sell papers, fact!

 

Direct quotes from Ashley in the Sunday Times suggest it's true.

 

And you believe everything in the papers?

 

Tbf this looks trueish.

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