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Guest ToonBart

THE £100m asking price for Newcastle United has been met, club officials have confirmed.

The club released a statement saying that the offer had been received, and negotiations were still ongoing.

 

It's understood the accepted bid was made by South Tyneside businessman Barry Moat, former owner of Premier Direct.

 

But it's believed that the chances of a speedy resolution to the saga remain slim, with owner Mike Ashley closing in on a deal to secure a new, reduced overdraft facility with the banks, which would give the club security for this season.

 

Sources at the club say Ashley hopes the team's success on the pitch will improve the club's long-term value.

 

Shields Gazette

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Guest sicko2ndbest

THE £100m asking price for Newcastle United has been met, club officials have confirmed.

The club released a statement saying that the offer had been received, and negotiations were still ongoing.

 

It's understood the accepted bid was made by South Tyneside businessman Barry Moat, former owner of Premier Direct.

 

But it's believed that the chances of a speedy resolution to the saga remain slim, with owner Mike Ashley closing in on a deal to secure a new, reduced overdraft facility with the banks, which would give the club security for this season.

 

Sources at the club say Ashley hopes the team's success on the pitch will improve the club's long-term value.

 

Shields Gazette

 

Link?

 

If true we need to be more vociforous in our anti ashley chants

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Guest Roger Kint

THE £100m asking price for Newcastle United has been met, club officials have confirmed.

The club released a statement saying that the offer had been received, and negotiations were still ongoing.

 

It's understood the accepted bid was made by South Tyneside businessman Barry Moat, former owner of Premier Direct.

 

But it's believed that the chances of a speedy resolution to the saga remain slim, with owner Mike Ashley closing in on a deal to secure a new, reduced overdraft facility with the banks, which would give the club security for this season.

 

Sources at the club say Ashley hopes the team's success on the pitch will improve the club's long-term value.

 

Shields Gazette

 

???

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THE £100m asking price for Newcastle United has been met, club officials have confirmed.

The club released a statement saying that the offer had been received, and negotiations were still ongoing.

It's understood the accepted bid was made by South Tyneside businessman Barry Moat, former owner of Premier Direct.

But it's believed that the chances of a speedy resolution to the saga remain slim, with owner Mike Ashley closing in on a deal to secure a new, reduced overdraft facility with the banks, which would give the club security for this season.

Sources at the club say Ashley hopes the team's success on the pitch will improve the club's long-term value.

Shields Gazette

Where have the club's officials confirmed this ? Where is the statement ?

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THE £100m asking price for Newcastle United has been met, club officials have confirmed.

The club released a statement saying that the offer had been received, and negotiations were still ongoing.

It's understood the accepted bid was made by South Tyneside businessman Barry Moat, former owner of Premier Direct.

But it's believed that the chances of a speedy resolution to the saga remain slim, with owner Mike Ashley closing in on a deal to secure a new, reduced overdraft facility with the banks, which would give the club security for this season.

Sources at the club say Ashley hopes the team's success on the pitch will improve the club's long-term value.

Shields Gazette

Where have the club's officials confirmed this ? Where is the statement ?

 

Probably on a yellow sticky stuck to the side of a computer screen, it's not like they would ever tell us anything anyways.

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It would make no sense to release a statement stating the price at been met if ashley doesn't want to sell.

 

It also makes no sense to release a statement to the public about it as it doesn't change anything yet. I assume this is why it was told to the press, not via the website?

 

It's going to bite them in the arse if it doesn't come off or Ashley decides to stay. A bit to trigger happy from the club.

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Guest Roger Kint

It would make no sense to release a statement stating the price at been met if ashley doesn't want to sell.

 

It also makes no sense to release a statement to the public about it as it doesn't change anything yet. I assume this is why it was told to the press, not via the website?

 

It's going to bite them in the arse if it doesn't come off or Ashley decides to stay. A bit to trigger happy from the club.

 

What are you on about? Ashley IS the club, if this was in fact true he would be behind it not oblivious to it for gods sake. Am not sure you understand what role the press play for the public either... :facepalm:

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It would make no sense to release a statement stating the price at been met if ashley doesn't want to sell.

 

It also makes no sense to release a statement to the public about it as it doesn't change anything yet. I assume this is why it was told to the press, not via the website?

 

It's going to bite them in the arse if it doesn't come off or Ashley decides to stay. A bit to trigger happy from the club.

 

What are you on about? Ashley IS the club, if this was in fact true he would be behind it not oblivious to it for gods sake. Am not sure you understand what role the press play for the public either... :facepalm:

 

How would I know how the club is run from the inside, I havn't got a f***ing clue. The club statement could be a club insider the way the press is, its about as clear as s***. 

 

 

Edit:  :facepalm: mint.

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You dont understand that the owner is the head guy and things like this would be something he would know about, jesus wept. :yikes:

 

I don't understand why Ashley would be willing to let us know the price has been met when there still seems to be problems. It just adds more pressure.

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Guest ToonBart

You dont understand that the owner is the head guy and things like this would be something he would know about, jesus wept. :yikes:

 

I don't understand why Ashley would be willing to let us know the price has been met when there still seems to be problems. It just adds more pressure.

 

would guess they have come under pressure from Seymour butts and moat to acknowledge that a buyer has been found.

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If this sale does go through though, what are our prospects? I'm not sure if the Moat takeover will give us the finances to be promoted and stay up there in the first go. Though at this point it seems that anyone but ashley will do...

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The Journal article for those that missed it btw:

 

http://www.journallive.co.uk/north-east-news/todays-news/2009/09/19/nufc-admit-100m-is-on-table-for-club-but-overdraft-is-stumbling-block-61634-24727668/

 

NUFC admit £100m is on table for club - but overdraft is stumbling block

 

NEWCASTLE United last night confirmed the £100m asking price for the club had been met – but there are fresh indications that current owner Mike Ashley is planning to stay.

 

The club issued a statement to The Journal which said: “The £100m asking price has been matched, however, we are still in negotiations and all parties involved are at sale and purchase stage.”

 

The chances of a speedy resolution to the takeover saga are thought to remain slim with Ashley closing in on a deal to secure a new, and much-reduced, overdraft facility with bankers following months of talks.

 

Sources say that in recent days there has been “renewed urgency” in the club’s talks over a new lending deal which will see the club’s borrowing capacity reduced from £39m to around £25m.

 

This would provide Newcastle with security for this season, and Ashley is increasingly pinning his hopes that the team’s current on-the-field success will improve its long-term value, and make it more attractive to purchasers a few months down the line.

 

The Journal understands that local businessman Barry Moat is behind the £100m offer mentioned in last night’s statement. However, it is understood the overdraft facility he is being offered by Barclays is less than that on offer to Ashley, which could prove a major stumbling block.

 

Sources have also confirmed there are two overseas parties still in talks with the club over a potential offer, with both having progressed through the due diligence phase.

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Guest Roger Kint

If this sale does go through though, what are our prospects? I'm not sure if the Moat takeover will give us the finances to be promoted and stay up there in the first go. Though at this point it seems that anyone but ashley will do...

 

Some teams manage to stay up through a crazy combination of good scoutuing and management over huge expenditure, the biggest problem regarding money will be those fans who expect an assault on the top 6 to come quickly. You have to assume Mort(if it is him) has finances above the purchase price otherwise Barclays will never sanction the overdraft given its not a guarantee we will go straight back up.

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If this sale does go through though, what are our prospects? I'm not sure if the Moat takeover will give us the finances to be promoted and stay up there in the first go. Though at this point it seems that anyone but ashley will do...

 

Moat claimed to have backing from a US source who isn't willing to deal with Ashley at all & won't surface until the takeover is complete.  With decent backing we should have the funds to buy some new players in January to push for promotion & then again to build the squad up when we get promoted.

 

Could be bollocks though.

 

If it is just Moat on his own then it'll be difficult, he certainly doesn't have a lot of cash of his own so the purchase of the club would be funded by loans which would need repaying which could leave us in a hole, needing to sell more players to cover costs & with no additional funds for new players.

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Guest ItalianMagpie

So basically nothing new happened?

It's funny though, I would have never expected the title of this thread would change again  :celb:

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If this sale does go through though, what are our prospects? I'm not sure if the Moat takeover will give us the finances to be promoted and stay up there in the first go. Though at this point it seems that anyone but ashley will do...

 

Some teams manage to stay up through a crazy combination of good scoutuing and management over huge expenditure, the biggest problem regarding money will be those fans who expect an assault on the top 6 to come quickly. You have to assume Mort(if it is him) has finances above the purchase price otherwise Barclays will never sanction the overdraft given its not a guarantee we will go straight back up.

 

Unlikely.. ;)

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Guest Redheugh

If this sale does go through though, what are our prospects? I'm not sure if the Moat takeover will give us the finances to be promoted and stay up there in the first go. Though at this point it seems that anyone but ashley will do...

 

Some teams manage to stay up through a crazy combination of good scoutuing and management over huge expenditure, the biggest problem regarding money will be those fans who expect an assault on the top 6 to come quickly. You have to assume Mort(if it is him) has finances above the purchase price otherwise Barclays will never sanction the overdraft given its not a guarantee we will go straight back up.

 

Unlikely.. ;)

 

Very

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