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RIP sale thread.


Tooj
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how come it seems that with every other club takeovers go relatively easy..but with this club they're a long, drawn out, painful process..

 

We do everything in public.  Other clubs only go public when pretty much everything is agreed.

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Full 'press release' here:

 

Newcastle subject of 'spoof' takeover bid

 

The prospective takeover of beleaguered Newcastle United has taken a strange twist with mystery surrounding claims that a north-east businessman is ready to launch a £150million takeover of Newcastle.

 

A press release issued on behalf of a Rick Parkinson announced he has put together a five-man consortium which is ready to offer Mike Ashley £90m for the club, £10m below his asking price.

 

In addition, Parkinson and his backers say they would put £30m into restructuring the business and install Alan Shearer as manager with a £30m war-chest. .

 

However, the news came as just that in the north-east with neither the club nor well-placed sources in the city aware of Parkinson and his consortium.

 

Seymour Pierce chairman Keith Harris is understood to have opened talks with up to four different prospective purchasers, the latest of them the Singapore-based Profitable Group, which confirmed its interest earlier this week.

 

But other interested parties are thought to have made greater progress as Ashley attempts to end his stay on Tyneside as soon as possible.

 

A press release and a selection of images were sent to journalists by an unnamed PR consultancy said to be acting on the behalf of their client regarding a potential bid for the purchase of Newcastle United.

 

The document stated: "A business entrepreneur is putting together a consortium of wealthy Newcastle United supporters to buy the club in a £150 million deal, and save it from any more embarrassment."

 

Multi-millionaire Rick Parkinson, from Northumberland, says he and four other North-East businessmen have serious cash behind them to buy United from failed owner Mike Ashley - if he's willing to accept a cut-price £90m for the stricken club.

 

And he reckons the consortium's first and biggest decision will be to give Toon legend Alan Shearer the manager's job at St James' Park, with a £30m transfer kitty to get them back in the Premier League.

 

The potential new owner also claims his consortium will pour £30m into re-structuring the troubled club's coffers by writing off a number of players' wages they can't afford in the Championship.

 

Parkinson, who has made fortunes in a wide range of business ventures, says he has grown tired of the club's current plight, and thinks the time is right for his consortium, worth a combined total of £1 billion, to step in.

 

The 42-year-old was quoted as: "I'm a Geordie through-and-through and it's been heart-wrenching to see the club, and their long-suffering fans, being put through the Mill (sic) like this.

 

"This week's latest developments, with the club trying to sell itself via an e-mail address on the official website, is just the final straw in what has been a wholly embarrassing tenure for Mr Ashley.

 

"It's time for him to sell-up, and I believe the time is right for me to step forward. I've been thinking about this with some wealthy friends of mine for quite some time, long before the club's relegation, but what's happened in the last few weeks has just made us more determined.

 

"My consortium would consist of five Newcastle supporters, born and bred in the North-East who really love the club, with no hidden agenda or business plan to make any personal profit whatsoever. Our plan would be to give the club back to the supporters. We'd back it with some serious money but, more importantly, we'd listen to the fans, who are the best in the country bar none.

 

"Newcastle is a fantastic club, and potential is such an over-used word these days, but we really shouldn't be in this mess, the supporters simply don't deserve it. We would ask them to come back to us in the Championship next season, and hopefully it would only be for one year, when we'll be able to reward them with promotion.

 

"The short-term plan is just to save the club from any more embarrassment and restore some pride, but we also have some ambitious long-term plans to bring European football and trophies back to Tyneside.

 

"This has been a testing time for everyone, not least the fans, and we have a serious determination to rectify that."

 

Parkinson, said to be originally from Ponteland, has allegedly made millions from the textiles industry, as well as from a number of offshore investments in the early 2000s, and claims to be worth more than £250m.

 

The press release went on: "Married with three daughters, he leads a largely private family life, which has in the past prevented him from getting involved due to the intense media spotlight he'd have to endure with any takeover of Newcastle."

 

Parkinson says the four other consortium members will take a back-seat role at the club, making substantial investments in it but giving the reigns to him and a new board of directors.

 

The new club would be owned equally by the five members of the consortium, each having a 20 per cent stake, and they are prepared to make an initial overall investment of around £150m (£30m each), with further substantial cash injections on promotion back to the top flight.

 

This would initially include a £90m purchase of Newcastle, £30m to re-structure the club, its staff and players' wages, and a £30m warchest for Shearer to mount a serious title challenge next season.

 

Parkinson admits the deal hinges on Mr Ashley agreeing to a reduced price for the club, but is hoping he is willing to save-face after a disastrous two years at the helm.

 

"Ashley needs to rid his hands of Newcastle once and for all," said Parkinson. "It was doomed to failure, and we think the least he can do is accept what we think is a reasonable offer for a Championship football club.

 

"He has to remember that a serious restructuring of the club is required and investment is needed to make automatic promotion a realistic ambition.

 

"The less we spend on purchasing the club, the more we can invest in doing that. If Mr Ashley does that, at least he could walk away with some dignity knowing that he is allowing some proper Newcastle fans to take over and run the club as it should be, and hopefully get them back to where they deserve to be."

 

Mike Ashley this week put Newcastle up for sale at £100m, and made the unusual step of advertising it on United's website, inviting interested parties to e-mail the club or contact Keith Harris at Seymour Pierce, a London-based investment bank and stockbroker charged with selling the club.

 

Parkinson says he is refusing to contact Newcastle via the e-mail address - citing it as "undignified and without class" - and insists his consortium's representatives will be contacting Seymour Pierce when their detailed takeover business plan has been finalised, which should be in the next 10 days.

 

Source

 

How the media fucking believed this in the first place, I was more impressed with the Profitable Group's English standards :lol:

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Despite the experience with Ashley, I'd much rather we had a single owner than a consortium or some finance company. The owners of a football club have to do it for the pleasure and the status, and you're far more likely to find that with a single owner.

 

Unless you own Man U, there's no way you can make money. The best you can hope for is to break even. I can't see what's in it for someone in a ten-man consortium unless they're hoping to get some return on their investment.

 

The obvious investment opportunity would be to make the club successful and sell it on for a profit.  Just putting us back in the Premiership would increase our value to between £200m-£250m, push on from there and they could sell for far more.

 

I'd query that figure, because Ashley wasn't able to get £200 million for us when we were in the Premiership, but it seems to me that the biggest problem facing football club owners is that they pretty much have to spend all the money they make, because that's what other clubs are doing and they have to compete. In fact, there's pressure to go into debt because that's what others are doing.

 

I mean maybe, just maybe, £100 million is under-priced for a quick sale. But even then, you really want an owner who's in it for the long haul, not someone who wants a fast buck.

 

Yes he was able to get £200m, he turned down two offers of over £200m, one from the bloke who's just took over Portsmouth and one from the people who took over Man City.  He wasn't selling for £200m, he wanted £400m!

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Well if it's the South Africans I can see Shearers demands going something like this

 

 

 

I love that scene so much....No you cant!

 

Is that Murray from Flight of the Concords?

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There's a revealing parapraxis in this article:

 

"Earlier this month, football dealbreaker Keith Harris, the man owner Mike Ashley hopes will find a buyer to pay £100m for United, was in Dubai talking to would-be investors."

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Guest firetotheworks

 

 

There's a revealing parapraxis in this article:

 

"Earlier this month, football dealbreaker Keith Harris, the man owner Mike Ashley hopes will find a buyer to pay £100m for United, was in Dubai talking to would-be investors."

 

I immediately like you for managing to get the word parapraxis into one of your 28 posts. Thats a good enjoyable word to post count ratio.

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Guest toonlass

I just want to ask, what exactly is due dilligence, how long would it take to complete and is the Shepherd and South African consortium really at a stage of due dilligence with the club?

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