Guest ToonBart Posted September 19, 2009 Share Posted September 19, 2009 You dont understand that the owner is the head guy and things like this would be something he would know about, jesus wept. 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. Link to post Share on other sites More sharing options...
Jaehyun Posted September 19, 2009 Share Posted September 19, 2009 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... Link to post Share on other sites More sharing options...
JH Posted September 19, 2009 Share Posted September 19, 2009 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. Link to post Share on other sites More sharing options...
Guest Roger Kint Posted September 19, 2009 Share Posted September 19, 2009 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. Link to post Share on other sites More sharing options...
ikri Posted September 19, 2009 Share Posted September 19, 2009 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. Link to post Share on other sites More sharing options...
AliGupter Posted September 19, 2009 Share Posted September 19, 2009 I thought this said "Jonas: NUFC confirm £100m offer on table, 'talks ongoing'" :lol: Link to post Share on other sites More sharing options...
Guest ItalianMagpie Posted September 19, 2009 Share Posted September 19, 2009 So basically nothing new happened? It's funny though, I would have never expected the title of this thread would change again Link to post Share on other sites More sharing options...
Unbelievable Posted September 19, 2009 Share Posted September 19, 2009 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.. Link to post Share on other sites More sharing options...
Guest Redheugh Posted September 19, 2009 Share Posted September 19, 2009 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 Link to post Share on other sites More sharing options...
Jaehyun Posted September 19, 2009 Share Posted September 19, 2009 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. Hope this is true, we will need a lot of fresh faces if we're to stay up. Our squad is weaker than last year, we're getting a couple of result because one our competition is crap, and two the dead wood has been cleared out and players are motivated. But overall our squad is considerably weaker than last year. Yes many clubs stay up with a combination of good scouting and good management and without splashing the cash (stoke being an example), however to build a team like that requires a lot of time under stable management. It seems that most Newcastle fans though, I myself included are quite strictly hoping to be promoted this season and to stay up. I'm not sure if thats entirely possible, I think if we sign a couple of players in January, we have a great chance of promotion, however staying up next year is going to be extremely hard. Especially if, as you've mentioned, Moat doesn't have enough backing and he has to pay off the takeover loans. But I guess Roger would be quite right in that the overdraft would never be sanctioned in the first place if Moat didn't have finances above the asking price. Hopefully the difficulty in Moat meeting the 100 million pound asking price was due to him wanting to invest as much money as he can into the club after the takeover, rather than him just simply not being able to meet it. All in all, Ashley gave us no chance to build and prepare for this season, so I won't be complaining at all if the Moat takeover goes through, I'd be in fact, delighted. At least Moat will give us a chance to prepare and build for our season next year (whether we go up or stay down), but I don't want to fall in the trap of becoming too optimistic. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted September 19, 2009 Share Posted September 19, 2009 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 Why, you have no idea of Moats finances? I thought you would be done before Plymouth, youve got just over 2 hours! Link to post Share on other sites More sharing options...
Guest Redheugh Posted September 19, 2009 Share Posted September 19, 2009 My work is done Link to post Share on other sites More sharing options...
jdckelly Posted September 19, 2009 Share Posted September 19, 2009 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 Why, you have no idea of Morts finances? I thought you would be done before Plymouth, youve got just over 2 hours! as i recall Mort is our former chairman whereas Moat is the bidder Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted September 19, 2009 Share Posted September 19, 2009 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 Why, you have no idea of Morts finances? I thought you would be done before Plymouth, youve got just over 2 hours! as i recall Mort is our former chairman whereas Moat is the bidder edited Sillius - You said your work was done a week or so ago, whats the delay? Overdraft? Ashley? Waiting for Moat to come up wih the goods? Link to post Share on other sites More sharing options...
Guest Redheugh Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" Link to post Share on other sites More sharing options...
Newcastle Fan Posted September 19, 2009 Share Posted September 19, 2009 Thats like the 8th time we confirm that there is an offer. Link to post Share on other sites More sharing options...
TRon Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" In reality nothing much has changed, Ashley is still asking more for the club than anyone is willing to pay when you take the debt into account. Link to post Share on other sites More sharing options...
Guest ToonBart Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" if your work is done and you are working on the yanks bid, does this mean the yanks are behind this fresh bid and not moat. Surely the barclays overdraft wouldn't be a problem to the yanks. Link to post Share on other sites More sharing options...
indi Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" In reality nothing much has changed, Ashley is still asking more for the club than anyone is willing to pay when you take the debt into account. Or perhaps there are people willing to pay what he's asking, but the stumbling block is Barclays and the overdraft. It seems quite a reasonable conclusion to draw that Mort et al can meet the asking price, but are reticent to have to pay off an extra £25m to reduce the overdraft down to Barclays's standard £10m for a Championship club. That money could represent all and more of what they had put aside for transfers and I'd have thought they'd have been very wary indeed of the public reaction should they take over and then have nothing to spend on bringing new players in. Given the general mood of the fans, I'd suggest that any takeover without the means to significantly improve the playing staff would be doomed from the start as the fans simply wouldn't accept it, rightly or wrongly. Link to post Share on other sites More sharing options...
Dave Posted September 19, 2009 Share Posted September 19, 2009 Agreed. Link to post Share on other sites More sharing options...
Belfast Boy Posted September 19, 2009 Share Posted September 19, 2009 Are you agreeing with Indi there Dave or being ITK again? Link to post Share on other sites More sharing options...
Dave Posted September 19, 2009 Share Posted September 19, 2009 The former. I've never been ITK btw. Link to post Share on other sites More sharing options...
TRon Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" In reality nothing much has changed, Ashley is still asking more for the club than anyone is willing to pay when you take the debt into account. Or perhaps there are people willing to pay what he's asking, but the stumbling block is Barclays and the overdraft. It seems quite a reasonable conclusion to draw that Mort et al can meet the asking price, but are reticent to have to pay off an extra £25m to reduce the overdraft down to Barclays's standard £10m for a Championship club. That money could represent all and more of what they had put aside for transfers and I'd have thought they'd have been very wary indeed of the public reaction should they take over and then have nothing to spend on bringing new players in. Given the general mood of the fans, I'd suggest that any takeover without the means to significantly improve the playing staff would be doomed from the start as the fans simply wouldn't accept it, rightly or wrongly. The overdraft is still a debt, Barclays aren't obliged to loan money to anyone so they have every right to be a stumbling block if Moat or any other buyer is relying on their money to buy the club. Link to post Share on other sites More sharing options...
indi Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" In reality nothing much has changed, Ashley is still asking more for the club than anyone is willing to pay when you take the debt into account. Or perhaps there are people willing to pay what he's asking, but the stumbling block is Barclays and the overdraft. It seems quite a reasonable conclusion to draw that Mort et al can meet the asking price, but are reticent to have to pay off an extra £25m to reduce the overdraft down to Barclays's standard £10m for a Championship club. That money could represent all and more of what they had put aside for transfers and I'd have thought they'd have been very wary indeed of the public reaction should they take over and then have nothing to spend on bringing new players in. Given the general mood of the fans, I'd suggest that any takeover without the means to significantly improve the playing staff would be doomed from the start as the fans simply wouldn't accept it, rightly or wrongly. The overdraft is still a debt, Barclays aren't obliged to loan money to anyone so they have every right to be a stumbling block if Moat or any other buyer is relying on their money to buy the club. Your point? Link to post Share on other sites More sharing options...
TRon Posted September 19, 2009 Share Posted September 19, 2009 At least I am consistent. Ashley is away and Llambias is at a function in Spain. I think its a little piece to throw in "while the cats away" In reality nothing much has changed, Ashley is still asking more for the club than anyone is willing to pay when you take the debt into account. Or perhaps there are people willing to pay what he's asking, but the stumbling block is Barclays and the overdraft. It seems quite a reasonable conclusion to draw that Mort et al can meet the asking price, but are reticent to have to pay off an extra £25m to reduce the overdraft down to Barclays's standard £10m for a Championship club. That money could represent all and more of what they had put aside for transfers and I'd have thought they'd have been very wary indeed of the public reaction should they take over and then have nothing to spend on bringing new players in. Given the general mood of the fans, I'd suggest that any takeover without the means to significantly improve the playing staff would be doomed from the start as the fans simply wouldn't accept it, rightly or wrongly. The overdraft is still a debt, Barclays aren't obliged to loan money to anyone so they have every right to be a stumbling block if Moat or any other buyer is relying on their money to buy the club. Your point? How many times do you want me to make it? Link to post Share on other sites More sharing options...
Recommended Posts