Dave Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. Link to post Share on other sites More sharing options...
Cronky Posted June 9, 2009 Share Posted June 9, 2009 Here we go, 'denied' by the club: http://www.guardian.co.uk/football/2009/jun/09/mike-ashley-newcastle-united-sale Mike Ashley will accept the first bid which matches his £100m valuation of Newcastle United as the owner looks to make a rapid exit from the troubled Championship club. Although there are "three or four parties showing serious interest" in a takeover, nobody has been willing to offer the money Ashley has demanded, with sources indicating they are attempting to get him to lower the asking price. However, Ashley, is determined to get the money he wants and is not interested in an auction. The statement released by the board to confirm the asking price earlier this week was designed to reinforce that fact. Despite Ashley's desperation to cut his losses he will have lost more than £134m in two years even if he does sell for £100m Newcastle have reacted scornfully to claims from the Singapore-based Profitable Group they are involved in talks to buy the club. Although an anonymous spokesman for Profitable insisted on Tuesday they intend to buy Newcastle, appoint Alan Shearer as manager, provide significant transfer funds and increase the capacity of St James' Park to 60,000, nobody at the club is taking their interest seriously. Profitable, who use the former Liverpool midfielder Steve McMahon in an ambassadorial role, did have contact with Newcastle last summer regarding some business in the Far East. But Newcastle's managing director, Derek Llambias, is adamant they have not heard from them since and it is understood the club's board have written the group off as time wasters. When Ashley tried to sell last year, Newcastle experienced similar problems in trying to discover which parties were actually interested in doing a deal and those who were using the club to promote themselves. On that occasion, consortiums from Nigeria and South Africa used the media to claim they were interested in buying the club before failing to make any sort of bid. There have also been persistent rumours on Tyneside that the former chairman Freddy Shepherd is part of another interested consortium, although this has still not been confirmed by anyone involved in the sale process. If Shepherd did return to the club in an official capacity he has already indicated he would immediately appoint Shearer manager. Shearer is still waiting to discover whether Ashley will confirm his appointment as permanent manager before he sells the club, even though he privately feels the sports retailer is dragging his feet in the hope he can sell up before he has to make that sort of decision. The former Newcastle captain spoke to Llambias on Monday in a bid to find out precisely why there has been a delay in confirming his appointment, but was given little reason to believe a resolution to the saga is near. Shearer has merely been told to be patient as talks are ongoing, with the banks in charge of restructuring the club's finances following its relegation from the Premier League. He was, however, reassured that Ashley did still want to make him the club's permanent manager, even though he is still waiting after more than a fortnight of negotiations and the club is in limbo with just three weeks until the players report back for pre-season training. A source close to Shearer said: "Alan is going to wait, that is all he can do at the moment. He hasn't been told very much, just that these things take time and they are still talking to the banks. His biggest worry is that the club is managerless and nobody is planning for next season. The sooner this is resolved, the better for everyone." We've been down this route before, with these strange companies trying to draw attention to themselves, but I still can't fathom out the logic of it. 'Look at us, we make a big show of having money to invest and then we don't go through with it.' I know they say that all publicity is good publicity, but there has to be a few exceptions to that. Link to post Share on other sites More sharing options...
Dave Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. Some info here: http://news.bbc.co.uk/sport1/hi/football/eng_prem/6923831.stm http://www.guardian.co.uk/football/2009/may/12/premier-league-owners-debt-andy-burnham Link to post Share on other sites More sharing options...
brummie Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. And was passed by Thaksin Shinawatra, which says all you need to know about it. Link to post Share on other sites More sharing options...
midds Posted June 9, 2009 Share Posted June 9, 2009 Doesn't matter if the pricks running the gaff take it seriously or not - fact is that if they bid £100m then the club's going to be sold. Money talks and if they've got the green then they've got a chance. Link to post Share on other sites More sharing options...
Skirge Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. I knew he would not care who he sold to,I just thought they had to prove finances to Seymour Pierce Link to post Share on other sites More sharing options...
Dave Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. And was passed by Thaksin Shinawatra, which says all you need to know about it. I think they've changed that now. Link to post Share on other sites More sharing options...
Interpolic Posted June 9, 2009 Share Posted June 9, 2009 Mike Ashley will accept the first bid which matches his £100m valuation of Newcastle United as the owner looks to make a rapid exit from the troubled Championship club. I know I said this already today, but for my money this is the most cunty thing Ashley has done. Basically, it equates to "I don't care whether they can fund the club, I don't care what their motives are, I don't care where their money comes from, I just want 100m" What an utter, utter cunt, just for that alone, leaving aside all the other stuff. I wonder how he managed to become such a successful businessman, given that he shows not even the slightest hint of understanding how people think, and how to do things the right way. So now, he's simulataneously pimping the club to anyone - ANYONE - with 100m to invest, whilst saying how keen he is to bail out, whilst trying to convince Shearer to become manager (although nobody knows who potential new owners will want) and whilst sticking most of the squad on the books of some shonky agency with the instruction "get rid, quick" - not a thought to what the manager will want to do. I know I'm preaching to the converted here, but honest to god, I couldn't imagine a more inept, insensitive, short termist "leader" if I tried. Totally with you and glad you can see that from an 'outside' POV as it were. But the bit in bold: he didn't make loads of money by understanding consumer behaviour in a sophisticated manner. He basically bought as much shite as he could for as cheap as he could, and then sold it for cheaper than his competitors. Granted he bought and reinvigorated a few failing brands but the same principle applies. 'Everyone likes a bargain' appears to be the only Unique Selling Point of his outlets and I'm guessing he's the same - £134m probably seemed like a bargain before he realised what he'd got himself in for. NUFC was a complete ego-fuelled, mid-life crisis purchase but it's not some wife in a radge with a Porsche on the drive, it's us left picking up the fucking pieces. Link to post Share on other sites More sharing options...
Dave Posted June 9, 2009 Share Posted June 9, 2009 We've been down this route before, with these strange companies trying to draw attention to themselves, but I still can't fathom out the logic of it. 'Look at us, we make a big show of having money to invest and then we don't go through with it.' I know they say that all publicity is good publicity, but there has to be a few exceptions to that. It's getting around the world now thanks to Reuters/the FT. Job done. Link to post Share on other sites More sharing options...
Liam Liam Liam O Posted June 9, 2009 Share Posted June 9, 2009 Don't they still have to prove they can buy and then support the club before the deal can be done? The 'fit and proper persons' test just proves they're not criminals and stuff I think. If that's what you're getting at. And was passed by Thaksin Shinawatra, which says all you need to know about it. I think they've changed that now. Typical. Link to post Share on other sites More sharing options...
Parky Posted June 9, 2009 Share Posted June 9, 2009 It will be fatty. Link to post Share on other sites More sharing options...
KaKa Posted June 9, 2009 Share Posted June 9, 2009 As one of the articles said I think the interested parties are trying to haggle the price, and I think it might still be possible that the Profitable Group are interested at a lower price. It is clear now that the attempts to haggle the price was clearly what led to Ashley putting out that silly statement with the email address. It looks like the Profitable group have countered that by stating their plans which every supporter of the club would clearly be very pleased with, in order to pressure Ashley into accepting their lower offer. It's kinda how I see it anyway. Link to post Share on other sites More sharing options...
madras Posted June 9, 2009 Share Posted June 9, 2009 It will be fatty. thats how i see it. Link to post Share on other sites More sharing options...
Interpolic Posted June 9, 2009 Share Posted June 9, 2009 As one of the articles said I think the interested parties are trying to haggle the price, and I think it might still be possible that the Profitable Group are interested at a lower price. It is clear now that the attempts to haggle the price was clearly what led to Ashley putting out that silly statement with the email address. It looks like the Profitable group have countered that by stating their plans which every supporter of the club would clearly be very pleased with, in order to pressure Ashley into accepting their lower offer. It's kinda how I see it anyway. Sounds logical but speculative, naturally. If that was the case, we don't need an owner that's haggling over £20m or whatever. Link to post Share on other sites More sharing options...
JH Posted June 9, 2009 Share Posted June 9, 2009 So our beloved owner and MD are basing their 'not taking seriously' approach based on the fact there was a similar group, though Nigerian, who declared interest the last time the club was up for sale but messed us about? Wow. The good business skills of Mr Mike Ashley are coming more and more to light each day Link to post Share on other sites More sharing options...
madras Posted June 9, 2009 Share Posted June 9, 2009 Mike Ashley will accept the first bid which matches his £100m valuation of Newcastle United as the owner looks to make a rapid exit from the troubled Championship club. I know I said this already today, but for my money this is the most cunty thing Ashley has done. Basically, it equates to "I don't care whether they can fund the club, I don't care what their motives are, I don't care where their money comes from, I just want 100m" What an utter, utter c***, just for that alone, leaving aside all the other stuff. I wonder how he managed to become such a successful businessman, given that he shows not even the slightest hint of understanding how people think, and how to do things the right way. So now, he's simulataneously pimping the club to anyone - ANYONE - with 100m to invest, whilst saying how keen he is to bail out, whilst trying to convince Shearer to become manager (although nobody knows who potential new owners will want) and whilst sticking most of the squad on the books of some shonky agency with the instruction "get rid, quick" - not a thought to what the manager will want to do. I know I'm preaching to the converted here, but honest to god, I couldn't imagine a more inept, insensitive, short termist "leader" if I tried. Totally with you and glad you can see that from an 'outside' POV as it were. But the bit in bold: he didn't make loads of money by understanding consumer behaviour in a sophisticated manner. He basically bought as much s**** as he could for as cheap as he could, and then sold it for cheaper than his competitors. Granted he bought and reinvigorated a few failing brands but the same principle applies. 'Everyone likes a bargain' appears to be the only Unique Selling Point of his outlets and I'm guessing he's the same - £134m probably seemed like a bargain before he realised what he'd got himself in for. NUFC was a complete ego-fuelled, mid-life crisis purchase but it's not some wife in a radge with a Porsche on the drive, it's us left picking up the f***ing pieces. not forgetting the nice big profits he's made when buying into some companies (eg adidas) and selling later. Link to post Share on other sites More sharing options...
Dave Posted June 9, 2009 Share Posted June 9, 2009 http://www.independent.co.uk/sport/football/football-league/shearer-left-in-limbo-as-sale-plans-stall-1700937.html With City of London sources pouring cold water on claims from a Singapore-based company, the Profitable Group, that it has held talks with Ashley about a £100m buy-out, a UK-based consortium and an American grouping remain the two parties most likely to buy Newcastle. Americans mentioned for the first time (this time around). Link to post Share on other sites More sharing options...
JH Posted June 9, 2009 Share Posted June 9, 2009 As one of the articles said I think the interested parties are trying to haggle the price, and I think it might still be possible that the Profitable Group are interested at a lower price. It is clear now that the attempts to haggle the price was clearly what led to Ashley putting out that silly statement with the email address. It looks like the Profitable group have countered that by stating their plans which every supporter of the club would clearly be very pleased with, in order to pressure Ashley into accepting their lower offer. It's kinda how I see it anyway. Sounds logical but speculative, naturally. If that was the case, we don't need an owner that's haggling over £20m or whatever. I've heard plenty of people argue this, but even if they can comfortably afford the £100m, they're still business people and if they reckon the club is only worth £80m, they're not gonna pay extra just to avoid the hassle of bargaining. That's not how good business works. That's £20m extra that can be pumped into first team investment. Link to post Share on other sites More sharing options...
Interpolic Posted June 9, 2009 Share Posted June 9, 2009 As one of the articles said I think the interested parties are trying to haggle the price, and I think it might still be possible that the Profitable Group are interested at a lower price. It is clear now that the attempts to haggle the price was clearly what led to Ashley putting out that silly statement with the email address. It looks like the Profitable group have countered that by stating their plans which every supporter of the club would clearly be very pleased with, in order to pressure Ashley into accepting their lower offer. It's kinda how I see it anyway. Sounds logical but speculative, naturally. If that was the case, we don't need an owner that's haggling over £20m or whatever. I've heard plenty of people argue this, but even if they can comfortably afford the £100m, they're still business people and if they reckon the club is only worth £80m, they're not gonna pay extra just to avoid the hassle of bargaining. That's not how good business works. That's £20m extra that can be pumped into first team investment. Absolutely, but I don't see the logic in having it out in public if that's the case. Link to post Share on other sites More sharing options...
Yorkie Posted June 9, 2009 Share Posted June 9, 2009 It will be fatty. I wouldn't be disappointed. Link to post Share on other sites More sharing options...
Lagerstedt Posted June 10, 2009 Share Posted June 10, 2009 http://www.independent.co.uk/sport/football/football-league/shearer-left-in-limbo-as-sale-plans-stall-1700937.html With City of London sources pouring cold water on claims from a Singapore-based company, the Profitable Group, that it has held talks with Ashley about a £100m buy-out, a UK-based consortium and an American grouping remain the two parties most likely to buy Newcastle. Americans mentioned for the first time (this time around). Steve Jobs didn't do the Apple Keynote a couple of days ago in San Francisco. People might say he's taking time off due to serious illness but I think we all know where he was... Link to post Share on other sites More sharing options...
oldtype Posted June 10, 2009 Share Posted June 10, 2009 alright then, time to go back to mode. Link to post Share on other sites More sharing options...
Guest Singapore Mag Posted June 10, 2009 Share Posted June 10, 2009 Profitable group a private equity co whose products (& adverts) are viewed by all in the financial sector as the biggest joke ever, judge for yourselves: All in Singapore cant stand them.. we're hoping their interest is just a publicity stunt Link to post Share on other sites More sharing options...
Tachikoma Posted June 10, 2009 Share Posted June 10, 2009 All in Singapore cant stand them.. we're hoping their interest is just a publicity stunt Include Malaysia in that estimate too. A part of me will die if Profitable Group really buys the club. Link to post Share on other sites More sharing options...
Stifler Posted June 10, 2009 Share Posted June 10, 2009 I'm going to keep my hopes up about the deal, everyone who says they are interested in buying the club will have an article in a paper the next day saying it isn't so. I remember when Ashley bought out Hall, an article came out saying he was not going to buy out Shepard. And where did they find this info out from?, we go weeks without hearing anything, even the papers that are close to the club, so I dobt anything would of been said to this paper out of any of them. Link to post Share on other sites More sharing options...
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