Guest ToonBart Posted October 6, 2009 Share Posted October 6, 2009 simon bird Mike Ashley’s long running quest to sell Newcastle United has taken a new twist after City sources confirmed that a new South African bidder had emerged. A wealthy bond dealer is known to have done a form of due diligence, examining United’s accounts in detail, throwing a bid by Tyneside businessman Barry Moat into doubt. Ashley has received a formal offer from Moat, but has stalled on accepting and has not seen proof that any bidders have the funds to buy the club. The saga has rumbled on so long without Ashley forcing through a sale that close confidants are wondering if he intends to keep the £100million club. Ashley has to pay Kevin Keegan his £2million pay off by Friday. But the pair are also locked in a dispute over the £1.5million legal costs for their 15 month legal battle which ended last Friday with a Premier League Arbitraion Panel ruling in Keegan’s favour that he was a victim of constructive dismissal. Keegan denies being offered a £4million settlement out of court, but Ashley chum Dennis Wise has claimed there was an attempt to pay Keegan off before the hearing. Link to post Share on other sites More sharing options...
Dave Posted October 6, 2009 Share Posted October 6, 2009 No you can't! Link to post Share on other sites More sharing options...
geordie_b Posted October 6, 2009 Share Posted October 6, 2009 no alan you cant Link to post Share on other sites More sharing options...
ElDiablo Posted October 6, 2009 Share Posted October 6, 2009 Well there's no need for that. Link to post Share on other sites More sharing options...
Keefaz Posted October 6, 2009 Share Posted October 6, 2009 Has a paper used the 'Moat-toon' pun yet? Or are the saving it for the day it goes through? Link to post Share on other sites More sharing options...
Guest ToonBart Posted October 6, 2009 Share Posted October 6, 2009 Daily Mail A South African businessman is believed to have met Barclays Bank representatives involved in the sale of Newcastle United. The South African’s late intervention on Tuesday may not lead to a bid, but it has stalled Barry Moat’s proposed purchase. The Tyneside businessman has preferred-bidder status and has made a formal offer to owner Mike Ashley, although it is not known how close it is to the £100m asking price. Yet another delay will frustrate Newcastle fans and if the newcomer, represented in Britain by solicitors Mischcon de Reya, undertakes due diligence, a sale would be postponed for weeks. Link to post Share on other sites More sharing options...
Guest Geordiekev Posted October 6, 2009 Share Posted October 6, 2009 Daily Mail A South African businessman is believed to have met Barclays Bank representatives involved in the sale of Newcastle United. The South Africans late intervention on Tuesday may not lead to a bid, but it has stalled Barry Moats proposed purchase. The Tyneside businessman has preferred-bidder status and has made a formal offer to owner Mike Ashley, although it is not known how close it is to the £100m asking price. Yet another delay will frustrate Newcastle fans and if the newcomer, represented in Britain by solicitors Mischcon de Reya, undertakes due diligence, a sale would be postponed for weeks. It's a fucking laugh a minute........... I take it Lambarse is back in the country now.. Link to post Share on other sites More sharing options...
Ash Posted October 6, 2009 Share Posted October 6, 2009 Hmmm, I wonder if this story was leaked by Ashley... Link to post Share on other sites More sharing options...
Guest ToonBart Posted October 6, 2009 Share Posted October 6, 2009 Hmmm, I wonder if this story was leaked by Ashley... Could be, but thats a very respected firm of solicitors quoted a being the ones dealing with this. Link to post Share on other sites More sharing options...
Guest ToonBart Posted October 6, 2009 Share Posted October 6, 2009 From the Times A South African consortium has made a last-ditch bid to buy Newcastle United, further frustrating Barry Moat in his protracted attempts to push through a takeover of the Coca-Cola Championship club. Moat, the preferred bidder of Seymour Pierce, the investment bank that has been hired by Mike Ashley to push through a sale, has yet to receive a response from Newcastle after finally submitting a formal bid for the club, five months after they were placed on the market. The reason for yet another delay to a laborious process has now become apparent, with the South African group, headed by a prominent bond dealer, conducting the due diligence process directly with the club. “They have been up to the North East and are very active, but they’ve tried to stay out of the spotlight,” a source close to Newcastle said. While the group has taken stringent precautions to conceal its identity, its involvement has been confirmed by City insiders as well as from within the club, making it a more credible proposition than most other parties who have made their “interest” in the club public. It is understood to share legal representation with Ashley in Mishcon de Reya, the London-based firm. Unlike Moat, however, the South Africans have not dealt with Seymour Pierce, which recommended Moat’s consortium after sifting through bids from other applicants. Keith Harris, Seymour Pierce’s executive chairman, is satisfied that as things stand, Moat, a Tyneside-based businessman who has American backers, represents Newcastle’s best hope of progressing. There has been no contact between the South Africans and Barclays, who at present provide Newcastle with their working £25 million overdraft, suggesting that such a facility would not be needed if the South Africans buy the club. Barclays has proposed a deal that will allow Moat to take on the overdraft, at a substantially lower rate, but the two sides have not yet reached a binding agreement. The bank has asked Moat for further proof that he has enough money to buy the club, but has not yet received the evidence it needs to sign off his bid. The bank’s consent is crucial to the entrepreneur, who needs Barclays to continue to lend to the club or he will not be able to buy it. Barclays declined to comment last night. Ashley is still insisting that interested bidders put £100 million in trust in a bank account, to prove that they have the cash to buy Newcastle, before he is prepared to sign up to any deal. Sources close to Ashley said that even if he were willing to drop his asking price, a bidder would still need £100 million in order to invest enough to ensure Newcastle’s promotion to the Barclays Premier League next year. Link to post Share on other sites More sharing options...
Fenham Mag Posted October 6, 2009 Share Posted October 6, 2009 LOOK were on google , They are ITK . Something imminent. http://www.google.co.uk/ Link to post Share on other sites More sharing options...
Yorkie Posted October 6, 2009 Share Posted October 6, 2009 For crying out fucking loud. Link to post Share on other sites More sharing options...
Fenham Mag Posted October 6, 2009 Share Posted October 6, 2009 For crying out f***ing loud. Link to post Share on other sites More sharing options...
Dave Posted October 6, 2009 Share Posted October 6, 2009 Stinks IMO. No news for all this time and as soon as Moat supposedly submits a formal bid there is news about some other rich cunt being interested the day after? Someone's playing games. Link to post Share on other sites More sharing options...
dustynrg Posted October 6, 2009 Share Posted October 6, 2009 Stinks IMO. No news for all this time and as soon as Moat supposedly submits a formal bid there is news about some other rich c*** being interested the day after? Someone's playing games. Aye it'll be Keegan, you know all the tricks HE gets up to. Link to post Share on other sites More sharing options...
Dave Posted October 6, 2009 Share Posted October 6, 2009 I blame the fans. Link to post Share on other sites More sharing options...
Ritchie Posted October 6, 2009 Share Posted October 6, 2009 Change the thread title! Link to post Share on other sites More sharing options...
madras Posted October 6, 2009 Share Posted October 6, 2009 I blame the fans. On what grounds ?. You'll have to defend that. Typical that now the case is over you revert to type and have to find yet another scapegoat. Link to post Share on other sites More sharing options...
Keefaz Posted October 7, 2009 Share Posted October 7, 2009 http://img18.imageshack.us/img18/439/wikus1k.jpg Just give me your fookin club, OK? Link to post Share on other sites More sharing options...
EthiGeordie Posted October 7, 2009 Share Posted October 7, 2009 I susupect all this link comes from Ashley in order to kill Moat's or whomever the close bidder to furstrate him and drop his bid..... I can't belive a person or a group will be intersted after 5 month.... Link to post Share on other sites More sharing options...
Alberto2005 Posted October 7, 2009 Share Posted October 7, 2009 Watch the bidding war manifest and the sale of the club become increasingly delayed, classic. Link to post Share on other sites More sharing options...
Guest VegasToon Posted October 7, 2009 Share Posted October 7, 2009 South Africans? Seriously Ashley, just fuck off!!! Link to post Share on other sites More sharing options...
Guest gggg Posted October 7, 2009 Share Posted October 7, 2009 Round and round and round and round and round and round and round and round and round and round and round and round we go Link to post Share on other sites More sharing options...
ikri Posted October 7, 2009 Share Posted October 7, 2009 Weird that this is a second mysterious bidder who are avoiding dealing with Seymour Pierce. Wonder what they've done to piss people off. Link to post Share on other sites More sharing options...
Guest sicko2ndbest Posted October 7, 2009 Share Posted October 7, 2009 I think this absolutely stinks. Ashley has released a bogus report to the press as part of his delaying tactics. I cannot believe this man has not had more shit than he has. Read the KK transcript, in particular the part about lying to fans. This is obviously still happening! Link to post Share on other sites More sharing options...
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