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Guest Lets Dance

I get the feeling that Moat's bid is the only credible bid. Any other consortia interested in our club (if there actually are any) are just being used as make weights.

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Barry Moat banking on £100m deal to buy Newcastle - Barry Moat will attempt to close his takeover of Newcastle United by the weekend after the club confirmed that, as disclosed by Telegraph Sport two weeks ago, the Tyneside-based businessman is in advanced talks about a £100 million takeover - Paul Kelso, The Telegraph

 

Moat spent Tuesday in a series of meetings talks with owner Mike Ashley and the club's primary bank Barclays. He remains hopeful that a deal is possible, but he will have to overcome issues relating to the level of the club's liability to the bank, as well as satisfying Ashley's price for the club.

Ashley visited the club's training ground by helicopter, but it remains unclear whether it will turn out to be a farewell visit to the players or the first of many as the proprietor of a Championship club.

 

 

Caretaker manager Chris Hughton was uncertain even after speaking to him. "He [Ashley] obviously spoke with Derek Llambias and really in effect it was to say he wasn't going to be here at the game tomorrow," he said.

 

 

Both Moat and Ashley are conscious that a deal needs to be done by the weekend if the incoming manager is to have time to shape the squad before the transfer window closes.

 

 

Moat will install Alan Shearer as manager if he is successful in closing a deal, and the former Newcastle No 9 is being kept informed of developments.

 

 

A crucial 72 hours for the club began with managing director Llambias confirming that talks with Moat were underway, but in what appeared a crude attempt to increase the pressure he said a deal was not possible at anything less than Ashley's £100 million asking price.

 

 

Club sources also let it be known that there are two other consortia interested in the club and said Moat was the backmarker in a possible deal, but that clashes with the reality of recent negotiations.

 

 

Moat is the preferred bidder of Ashley's advisors at investment bank Seymour Pierce, who believe he offers the owner an exit strategy. Moat is also the only potential buyer to have held talks with Barclays over the specifics of a deal.

 

 

Price remains an issue. Negotiations in the last two weeks have worked on a price band of between £70 million to £90 million, but Moat's final offer will in part depend on his negotiations with Barclays.

 

 

The bank provides an overdraft of around £40 million in working capital that allows the club to operate, but there are concerns over the size of that facility given Newcastle's Championship status.

 

 

A facility of £40 million is considered high for a Premier League club, and Moat's chances of completing a deal may depend on his ability to reduce that figure.

 

 

Should Moat fail then Ashley's chances of finding a buyer this season will plummet, leaving him with little choice but to commit to the club at least until January, and probably for the rest of the season. He has sounded out David O'Leary about returning as manager should he stay in charge.

 

 

Changes to the playing squad seem inevitable. Damien Duff's move to Fulham on Monday, will ease the wage burden, and Steven Taylor, Fabricio Coloccini and Jonas Gutierrez could follow.

 

 

 

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The article doesn't really say anything though.  Apart from the pearl of wisdom that we could do without losing any more players and some unsubstantiated claim that unnamed sources are a bit pessimistic.  Nothing article.

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