Shepherd plans Toon takeover - Doesn't make for pretty reading

[Cronky]

I first heard this story about FS wanting to take the club private some time ago. For whatever reason, it hasn't happened, and I don't know why he should be in a position to make it happen now.

 

Or perhaps that's wishful thinking on my part. We need a change.

[JH]

I won't pack my bags yet

By Neil Farrington, The Sunday Sun

 

Freddy Shepherd has vowed the fans calling for his head will not deter him from his mission as Newcastle United chairman . . .

 

To step down only when the Magpies finally win a major trophy.

 

With United languishing in the league, supporters have vented their fury on the man at the top at St James's Park.

 

And with the Jersey-based Belgravia Group linked with a takeover bid for the club, many question why Shepherd (right) would want to stand his corner for much longer.

 

But the man himself insists his motivation for staying put is the desire to deliver on an ageing promise to bring silverware to Tyneside.

 

He remains confident that Glenn Roeder - the manager he is backing to the hilt - can yet fulfil that dream this season.

 

And he has fired a broadside at the Belgravia Group and others who have made noises about buying United without putting an offer on the table.

 

"I took over as chairman with a mission to win a trophy - and I'm not going to be knocked off that," Shepherd told the Sunday Sun. "It's more than 50 years since we won a major domestic trophy and 37 years since we won our only European honour, and if I can end that dreadful run then that will be the time for me to walk away.

 

"And we are still involved in three cup competitions, so I would like to think that we could win something this season.

 

Shepherd admitted: "It has proved a more difficult, elusive task to win a trophy than I thought it would be when I first joined the board 14 years ago.

 

"But you have to remember that when I joined the board, nothing had been won for 23 years and nothing had been done to the ground or the training facilities.

 

"I've invested a lot of my time working for the club over the last nine years, and I am satisfied with what I have achieved off the pitch. If nothing else I have helped create one of the finest stadiums in Europe and a top-class training ground. That is my legacy."

 

And on the pitch, Shepherd claims he retains all faith in Roeder to steer Newcastle out of relegation trouble - and will prove it by financing a January swoop for a top new striker and defender.

 

"We have got to give Glenn time to turn it around, of course we have, and I think he can," he said.

 

"I am not giving him a timeframe to do so, because I see the quality in Glenn to turn the situation around.

 

"The players admit that they didn't play well against Sheffield United last week, but generally the performances haven't been bad.

 

"We have good players here. Look at our team sheet. Christ, these are good players, and they have to sort it out.

 

"But I would rather the fans have a go at me rather than the team or the manager." Shepherd added: "Stock Exchange rules mean we cannot say exactly what we are going to do in the January transfer window - but look at our past record.

 

"And I know a forward and a defender are a priority."

 

Meanwhile, while Shepherd admits that he and United's Plc board have a duty to all shareholders to listen to any reasonable offer that is made for the club, he is not holding his breath.

 

"Anyone can make an offer for the company," he said. "As chairman I then have to do what is best for the Plc and for the shareholders.

 

"But while there are lots of good talkers and people saying they are going to do this, that and the other, I don't see anyone coming here and saying: `Right, we'll buy the club and do this and that'.

 

"So I am going to see this job through, and I believe I will turn this situation around.

 

"My bags aren't packed."

 

Source

 

So to get rid, we have to go and win a trophy this season. Great 

[Guest alftupper]

Those of the 'hate FFS' persuasion would do well to read SBR's column

in the Mail on Sunday, where he agrees with Shepherd taking over at the

club. Remember, this is a man who did not have to write anything about

the situation, and was thought to have more reason than most to want

Shepherd out.

No doubt there will be those who will refuse to take the article at face value

as it disproves some mis-held myth, and will start looking for some hidden

agenda, but if it gets a couple off the anti-FFS bandwagon it will be worthwhile.

[Martin Lol]

:obi: :obi: :obi: :obi: :obi:

 

Will remember that.

 

That isn't laughing at Newcastle, just at the very idea that FFS buying outright control would in any way be beneficial for the club.  It would be the worst possible scenario for NUFC imho and the vast majority of contributors heare share that opinion.

[merlin]

Just to sum up the posts and add a couple of bits:

1. FS has had enough of the Halls. They seem to have taken their dividends and may have been poking their noses in, in some way.

2. The possibilility of Belgravia taking over is unsettling.

3. FS has publicly stated for years he has been building his shareholding.

4. Could be a ploy to force others hands.

5. Belgravia eat FS for breakfast - they rely on investments being profitable and are not movers and shakers. A takeover would likely see a new cheap stadium and St James's redeveloped.

6. FS cant afford it and would transfer debt to the club.

 

Let me state my position. I'm ambivalent regarding Shepherd. All that concerns me is that he does what is best for the club.

 

However

I have no time for the Halls as, regardless of their achievements. They built us up, became a PLC and made a lot of money.  By selling now they will make even more. Thererfore they saw Nufc a a money making  opportunity. Remember the true reason Keegan left.

Belgravia and the like exist only to make money. They are not a fairy godmother. If they took over St. James's would be redeveloped and the club moved - opinion.

FS, if he buys the shares, has to make the same offer to all parties once he reaches a certain level. Other shareholders do not have to accept. If he held 60% I'm sure he could live with minority shareholders and remain a Plc. Although I believe he will try for 95% (?) and get 100%. 

FS is worth a lot more than most of you seem to think. Please correct me if wrong but I think I read he is worth about 250 million via Shepherd Offshore and personal wealth. Financially, if he could take over the club, money would be personal or debt against his assets. If the debt can be transferred it would be against the stadium, which does have equity.

 

Personally I would rather see FS take us over.

Reasons

1. He puts his neck on the block and if there has been interference it will get rid of that problem.

2. If he has been the problem any further deterioration in performance will cost him.

3. Any further losses will be his. This in turn will be reflected in a reduced squad, wage bill - although we have one of the best ratios.

4. He may bring in quality staff.

 

I realise this is an emotive issue but many of you need to divorce emotion from business. I once had a business partner who I liked but he did less and less. When our mortgage was to be renewed he was offered the opportunity to put his share up to my level but declined so my Family Trust took over the mortgage and the trust financed a new business where, again, he was offered shares. We later asked him to leave as he was playing no usefull part in the business and are now progressing. He is still a friend as far as I am concerned but after that its up to him. I see FS in the same light. The business is what matters regardless of ones feelings for the individual. Feelings are for individuals. Protest by all means, show dissatisfaction but beyond that grow up.

 

Some of this is ludicrous - if Shepherd inherited 250 mil from his father, it must have disappeared some time ago. If you remember, he was the JUNIOR member in the Magpie Group takeover - all the money to buy shares came from Sir John - NOT A PENNY from Shepherd.

If he had access to that sort of money , he would have taken sole control of the club ages ago - why do you think the Halls own more shares than Shepherd..??

[Guest fraser]

Referring to the allegation of undue influence of the Halls, wasn't the sacking of SBR attributed to their interference at the time? Or does my elderly memory fail me again?

[Guest ArtyH]

It will be interesting to see what happens in the new year transfer window. Will we go for failed superstars or bargain basement cast offs?

We need a new manager who can organise and inspire, and now a new forward and a centre back. We should get the taxi fare for Bramble to bring most C.B's up to the toon, so who will it be??? Some one from Chelsea, Arsenal or Manure? I cannot wait!

[sempuki]

 

 

 

I won't pack my bags yetNov 12 2006

 

 

 

 

By Neil Farrington, The Sunday Sun

 

 

 

 

 

 

 

 

Freddy Shepherd has vowed the fans calling for his head will not deter him from his mission as Newcastle United chairman...

 

To step down only when the Magpies finally win a major trophy.

 

With United languishing in the league, supporters have vented their fury on the man at the top at St James's Park.

 

And with the Jersey-based Belgravia Group linked with a takeover bid for the club, many question why Shepherd would want to stand his corner for much longer.

 

 

But the man himself insists his motivation for staying put is the desire to deliver on an ageing promise to bring silverware to Tyneside.

 

 

He remains confident that Glenn Roeder - the manager he is backing to the hilt - can yet fulfil that dream this season.

 

 

And he has fired a broadside at the Belgravia Group and others who have made noises about buying United without putting an offer on the table.

 

 

"I took over as chairman with a mission to win a trophy - and I'm not going to be knocked off that," Shepherd told the Sunday Sun. "It's more than 50 years since we won a major domestic trophy and 37 years since we won our only European honour, and if I can end that dreadful run then that will be the time for me to walk away.

 

 

"And we are still involved in three cup competitions, so I would like to think that we could win something this season.

 

 

Shepherd admitted: "It has proved a more difficult, elusive task to win a trophy than I thought it would be when I first joined the board 14 years ago.

 

 

"But you have to remember that when I joined the board, nothing had been won for 23 years and nothing had been done to the ground or the training facilities.

 

 

"I've invested a lot of my time working for the club over the last nine years, and I am satisfied with what I have achieved off the pitch. If nothing else I have helped create one of the finest stadiums in Europe and a top-class training ground. That is my legacy."

 

 

And on the pitch, Shepherd claims he retains all faith in Roeder to steer Newcastle out of relegation trouble - and will prove it by financing a January swoop for a top new striker and defender.

 

 

"We have got to give Glenn time to turn it around, of course we have, and I think he can," he said.

 

 

"I am not giving him a timeframe to do so, because I see the quality in Glenn to turn the situation around.

 

 

"The players admit that they didn't play well against Sheffield United last week, but generally the performances haven't been bad.

 

 

"We have good players here. Look at our team sheet. Christ, these are good players, and they have to sort it out.

 

 

"But I would rather the fans have a go at me rather than the team or the manager." Shepherd added: "Stock Exchange rules mean we cannot say exactly what we are going to do in the January transfer window - but look at our past record.

 

 

"And I know a forward and a defender are a priority."

 

 

Meanwhile, while Shepherd admits that he and United's Plc board have a duty to all shareholders to listen to any reasonable offer that is made for the club, he is not holding his breath.

 

 

"Anyone can make an offer for the company," he said. "As chairman I then have to do what is best for the Plc and for the shareholders.

 

 

"But while there are lots of good talkers and people saying they are going to do this, that and the other, I don't see anyone coming here and saying: `Right, we'll buy the club and do this and that'.

 

 

"So I am going to see this job through, and I believe I will turn this situation around.

 

 

"My bags aren't packed."

 

 

 

[OzzieMandias]

Those of the 'hate FFS' persuasion would do well to read SBR's column

in the Mail on Sunday, where he agrees with Shepherd taking over at the

club.

 

Link?

[Guest Wally_McFool]

Season ticket sales will plummet if  the fat man takes over total control of Newcastle United.

 

 

(They will in our house anyway!)

[NE5]

Well, it's long looked like that was why Fat Fred had strengthened his shareholding to just under the point where he'd legally have to attempt a buy-out.

 

If this is true, then the decision as to the future of the club will rest with the Halls. Will they sell to Fat Fred? Will they sell to someone else? Or will they not sell to anyone, and leave things the way they are?

 

Looks like, if he was going to take the club private, FF would have to borrow really heavily. It would effectively leave us £40 million deeper in debt and under the complete control of someone who has taken us from challenging for the top to floundering at the bottom, and is clearly bereft of fresh ideas as to how to take the club forward.

 

Relegation would of course reduce the share price, thus making it easier for FF (or another buyer) to buy the club out. On the other hand, the threat of it might mean the Halls selling out sooner rather than later.

 

ironic that you are complaining about the figures, when you supported a manager who wanted rid of our best players and proceeded to spend a fortune on inferior replacements. And also say the board should have borrowed money to spend when it had qualified for the Champions League, spending a fortune to get there in the first place.

 

 

[Guest Invicta_Toon]

FFS is a small time local businessman

 

he hasn't teh credit rating to borrow £ 65 million to sink into HIS venture which is going wrong on his watch

 

peopel like Belgarvia buy sinking ships TO GET RID OF THE CURRENT DIRECTORS and turn the club around with a modest investment to resell in 3-5 years

 

they won't build a new ground becasue they can't redevelope SJP as its not owned by the club - the land belongs to the Council - remember? and they don't want  to put in another £ 250 million (see the cost of Liverpools new ground)

 

A decent manager and £ 50 million would get us back into contention and maybe a trophy

 

 

FFS is a dead man walking if Belgravia or similar decide to act

 

and what is the credit rating of Shepherd Offshore?

[WhatTheFunk]

What? He is trying to rule the club as a dictator? He should be brought to the FA for crime against football rights.

 

you watch too much tv

[NE5]

Just to sum up the posts and add a couple of bits:

1. FS has had enough of the Halls. They seem to have taken their dividends and may have been poking their noses in, in some way.

2. The possibilility of Belgravia taking over is unsettling.

3. FS has publicly stated for years he has been building his shareholding.

4. Could be a ploy to force others hands.

5. Belgravia eat FS for breakfast - they rely on investments being profitable and are not movers and shakers. A takeover would likely see a new cheap stadium and St James's redeveloped.

6. FS cant afford it and would transfer debt to the club.

 

Let me state my position. I'm ambivalent regarding Shepherd. All that concerns me is that he does what is best for the club.

 

However

I have no time for the Halls as, regardless of their achievements. They built us up, became a PLC and made a lot of money.  By selling now they will make even more. Thererfore they saw Nufc a a money making  opportunity. Remember the true reason Keegan left.

Belgravia and the like exist only to make money. They are not a fairy godmother. If they took over St. James's would be redeveloped and the club moved - opinion.

FS, if he buys the shares, has to make the same offer to all parties once he reaches a certain level. Other shareholders do not have to accept. If he held 60% I'm sure he could live with minority shareholders and remain a Plc. Although I believe he will try for 95% (?) and get 100%. 

FS is worth a lot more than most of you seem to think. Please correct me if wrong but I think I read he is worth about 250 million via Shepherd Offshore and personal wealth. Financially, if he could take over the club, money would be personal or debt against his assets. If the debt can be transferred it would be against the stadium, which does have equity.

 

Personally I would rather see FS take us over.

Reasons

1. He puts his neck on the block and if there has been interference it will get rid of that problem.

2. If he has been the problem any further deterioration in performance will cost him.

3. Any further losses will be his. This in turn will be reflected in a reduced squad, wage bill - although we have one of the best ratios.

4. He may bring in quality staff.

 

I realise this is an emotive issue but many of you need to divorce emotion from business. I once had a business partner who I liked but he did less and less. When our mortgage was to be renewed he was offered the opportunity to put his share up to my level but declined so my Family Trust took over the mortgage and the trust financed a new business where, again, he was offered shares. We later asked him to leave as he was playing no usefull part in the business and are now progressing. He is still a friend as far as I am concerned but after that its up to him. I see FS in the same light. The business is what matters regardless of ones feelings for the individual. Feelings are for individuals. Protest by all means, show dissatisfaction but beyond that grow up.

 

A very balanced view with good points in both directions. Don't expect certain people who can't see the bigger picture to agree with you though. The Halls have always been the major shareholders, I've been trying to tell people who blame Shepherd for every defeat the club suffers  :roll: that they are more to blame for the big decisions - good ones and bad ones - than anyone by that very virtue.

 

SJH may have been a big charismatic figure, but by his own admission he never wanted to be chairman, and in my opinion, he just got lucky with Keegan, as he didn't even want him, it was other members of his board who pushed him into it, which I have posted elsewhere. Now they want to bail out. They have done their bit for the club and saved us when we needed them, we shouldn't forget that, but its a business world, if someone takes over the club who don't have the interests of the club at heart and are only in it for a fast buck, then we will all suffer.

 

 

 

 

[Skirge]

Freddy Shepherd has vowed the fans calling for his head will not deter him from his mission as Newcastle United chairman...

 

To step down only when the Magpies finally win a major trophy.

 

With United languishing in the league, supporters have vented their fury on the man at the top at St James's Park.

 

And with the Jersey-based Belgravia Group linked with a takeover bid for the club, many question why Shepherd would want to stand his corner for much longer.

 

But the man himself insists his motivation for staying put is the desire to deliver on an ageing promise to bring silverware to Tyneside.

 

He remains confident that Glenn Roeder - the manager he is backing to the hilt - can yet fulfil that dream this season.

 

And he has fired a broadside at the Belgravia Group and others who have made noises about buying United without putting an offer on the table.

 

"I took over as chairman with a mission to win a trophy - and I'm not going to be knocked off that," Shepherd told the Sunday Sun. "It's more than 50 years since we won a major domestic trophy and 37 years since we won our only European honour, and if I can end that dreadful run then that will be the time for me to walk away.

 

"And we are still involved in three cup competitions, so I would like to think that we could win something this season.

 

Shepherd admitted: "It has proved a more difficult, elusive task to win a trophy than I thought it would be when I first joined the board 14 years ago.

 

"But you have to remember that when I joined the board, nothing had been won for 23 years and nothing had been done to the ground or the training facilities.

 

"I've invested a lot of my time working for the club over the last nine years, and I am satisfied with what I have achieved off the pitch. If nothing else I have helped create one of the finest stadiums in Europe and a top-class training ground. That is my legacy."

 

And on the pitch, Shepherd claims he retains all faith in Roeder to steer Newcastle out of relegation trouble - and will prove it by financing a January swoop for a top new striker and defender.

 

"We have got to give Glenn time to turn it around, of course we have, and I think he can," he said.

 

"I am not giving him a timeframe to do so, because I see the quality in Glenn to turn the situation around.

 

"The players admit that they didn't play well against Sheffield United last week, but generally the performances haven't been bad.

 

"We have good players here. Look at our team sheet. Christ, these are good players, and they have to sort it out.

 

"But I would rather the fans have a go at me rather than the team or the manager." Shepherd added: "Stock Exchange rules mean we cannot say exactly what we are going to do in the January transfer window - but look at our past record.

 

"And I know a forward and a defender are a priority."

 

Meanwhile, while Shepherd admits that he and United's Plc board have a duty to all shareholders to listen to any reasonable offer that is made for the club, he is not holding his breath.

 

"Anyone can make an offer for the company," he said. "As chairman I then have to do what is best for the Plc and for the shareholders.

 

"But while there are lots of good talkers and people saying they are going to do this, that and the other, I don't see anyone coming here and saying: `Right, we'll buy the club and do this and that'.

 

"So I am going to see this job through, and I believe I will turn this situation around.

 

"My bags aren't packed."

[JH]

Could that article be posted any more times 

[Syrette]

The more I see it the more I die a little inside.

[GM]

The more I see it the more I die a little inside.

 

Really?!!

 

Oh well, if you insist!

 

 

 

http://img.dailymail.co.uk//i/pix/2006/08/shepherdGETTY210806_228x304.jpg

 

Shepherd plans Toon takeover

 

11.11.06

 

Under-fire Newcastle United chairman Freddy Shepherd wants to end the 15-year reign of the Hall family with a buy-out of the £90 million club.

 

Shepherd has faced bitter calls for his resignation from Toon fans angry at the club's slump to the foot of the Premiership.

 

But, far from relinquishing power, Shepherd wants to take over the majority shareholding of Sir John Hall and his son, Douglas, and assume sole control of the club.

 

With the club likely to be valued at £90m, he would have to pay around £37m for Sir John's 29 per cent share-holding and his son's 12 per cent.

 

Shepherd already owns 28 per cent and if he does cut a deal with the Halls he will have to make an identical offer to all remaining shareholders, as it would take him over the 30 per cent threshold set by Stock Exchange rules.

 

He then intends to remove Newcastle from their Stock Exchange listing, following the examples of Malcolm Glazer at Manchester United, Roman Abramovich at Chelsea, and Randy Lerner at Aston Villa.

 

But Shepherd is likely to face competition.

 

The mysterious Jersey-based company, The Belgravia Group, have been in talks with the club.

 

Any buy-out would end the 15-year association with the club by Sir John Hall, who finally gained control of Newcastle after a bitter boardroom battle. Sir John set about revitalising the ailing club, bringing in Kevin Keegan as manager. Keegan achieved promotion to the Premiership and famously almost won the title in 1996, before being overhauled by Manchester United.

 

But the news that Shepherd wants to stay at St James' Park for the long haul will dismay those angry Newcastle fans who demonstrated against him following last weekend's home defeat against Sheffield United.

 

Shepherd, however, has often had to leave the big decisions to the Halls and, while they have been spending more time overseas, he has been left in a firefighting role.

 

Now he has decided that if he is going to take the flak for poor results and bad transfer buys, he should be in control.

 

 

[Matt]

Regarding Kiwi's point on Belgravia redeveloping the ground- considering that it would involve demolishing an asset whose redevelopment costs still lie as a £40m senior note it would have to be quite a spectacular development. Aside from that, the land on which SJP lies in under covenant and I'd be surprised if they could do anything to change that (imagine the outcry, not to mention the Council opposing anything that would take revenue out of the city centre). The idea of relocation is a non-starter for me, there are cheaper and easier ways to acquire land in Newcastle. Equally a sale and lease-back is unlikely unless the investors sold off the existing debt and did it with the whole stadium capital (I'm assuming the existing debt will not allow other borrowings to be secured on the stadium or ticket revenues).

 

I don't beleive FS could buy out the club on his own. To secure a loan (which would be some feat) and transfer it on to the club would send us to the wall- we just don't have the cash.

 

I'm no fan of Fred, I'm totally at odds at the way many functions of the club are operated, but at least I know that he wants the club to do well with a few quid on the side. The same can't be said of the Halls. Would you trust them? Have Cameron Hall filed any more accounts since 2001, what about that bankrupt Spanish holiday village they were building years ago. What about the current owners of the Metro Centre, who have to pump concrete into the foundations of the buildings to keep them standing? I don't trust them at all. It was SJH and Doug who got rid of Robson- not Shepherd. Fred just took the can.

 

Aside from any nunber crunching on this issue- if Fred becomes so unpopular that it results in falling revenue, then rightly or wrongly he should go. A cancer removed or a victim of circumstance- it matters not. If that situation arises he HAS to consider his position, otherwise you can lump him in the same bracket at Johnny and Douggie.

[Colos Short and Curlies]

Regarding Kiwi's point on Belgravia redeveloping the ground- considering that it would involve demolishing an asset whose redevelopment costs still lie as a £40m senior note it would have to be quite a spectacular development. Aside from that, the land on which SJP lies in under covenant and I'd be surprised if they could do anything to change that (imagine the outcry, not to mention the Council opposing anything that would take revenue out of the city centre). The idea of relocation is a non-starter for me, there are cheaper and easier ways to acquire land in Newcastle. Equally a sale and lease-back is unlikely unless the investors sold off the existing debt and did it with the whole stadium capital (I'm assuming the existing debt will not allow other borrowings to be secured on the stadium or ticket revenues).

 

I don't beleive FS could buy out the club on his own. To secure a loan (which would be some feat) and transfer it on to the club would send us to the wall- we just don't have the cash.

 

I'm no fan of Fred, I'm totally at odds at the way many functions of the club are operated, but at least I know that he wants the club to do well with a few quid on the side. The same can't be said of the Halls. Would you trust them? Have Cameron Hall filed any more accounts since 2001, what about that bankrupt Spanish holiday village they were building years ago. What about the current owners of the Metro Centre, who have to pump concrete into the foundations of the buildings to keep them standing? I don't trust them at all. It was SJH and Doug who got rid of Robson- not Shepherd. Fred just took the can.

 

Aside from any nunber crunching on this issue- if Fred becomes so unpopular that it results in falling revenue, then rightly or wrongly he should go. A cancer removed or a victim of circumstance- it matters not. If that situation arises he HAS to consider his position, otherwise you can lump him in the same bracket at Johnny and Douggie.

 

My Dad worked on the design for the green quadrant of the Metro Centre and SJH was repeatedly warned about the subsidence on the site and refused to pay the increased cost to remedy it before buiding commenced.

[Cronky]

Freddy Shepherd has vowed the fans calling for his head will not deter him from his mission as Newcastle United chairman...

 

To step down only when the Magpies finally win a major trophy.

 

With United languishing in the league, supporters have vented their fury on the man at the top at St James's Park.

 

And with the Jersey-based Belgravia Group linked with a takeover bid for the club, many question why Shepherd would want to stand his corner for much longer.

 

But the man himself insists his motivation for staying put is the desire to deliver on an ageing promise to bring silverware to Tyneside.

 

He remains confident that Glenn Roeder - the manager he is backing to the hilt - can yet fulfil that dream this season.

 

And he has fired a broadside at the Belgravia Group and others who have made noises about buying United without putting an offer on the table.

 

"I took over as chairman with a mission to win a trophy - and I'm not going to be knocked off that," Shepherd told the Sunday Sun. "It's more than 50 years since we won a major domestic trophy and 37 years since we won our only European honour, and if I can end that dreadful run then that will be the time for me to walk away.

 

"And we are still involved in three cup competitions, so I would like to think that we could win something this season.

 

Shepherd admitted: "It has proved a more difficult, elusive task to win a trophy than I thought it would be when I first joined the board 14 years ago.

 

"But you have to remember that when I joined the board, nothing had been won for 23 years and nothing had been done to the ground or the training facilities.

 

"I've invested a lot of my time working for the club over the last nine years, and I am satisfied with what I have achieved off the pitch. If nothing else I have helped create one of the finest stadiums in Europe and a top-class training ground. That is my legacy."

 

And on the pitch, Shepherd claims he retains all faith in Roeder to steer Newcastle out of relegation trouble - and will prove it by financing a January swoop for a top new striker and defender.

 

"We have got to give Glenn time to turn it around, of course we have, and I think he can," he said.

 

"I am not giving him a timeframe to do so, because I see the quality in Glenn to turn the situation around.

 

"The players admit that they didn't play well against Sheffield United last week, but generally the performances haven't been bad.

 

"We have good players here. Look at our team sheet. Christ, these are good players, and they have to sort it out.

 

"But I would rather the fans have a go at me rather than the team or the manager." Shepherd added: "Stock Exchange rules mean we cannot say exactly what we are going to do in the January transfer window - but look at our past record.

 

"And I know a forward and a defender are a priority."

 

Meanwhile, while Shepherd admits that he and United's Plc board have a duty to all shareholders to listen to any reasonable offer that is made for the club, he is not holding his breath.

 

"Anyone can make an offer for the company," he said. "As chairman I then have to do what is best for the Plc and for the shareholders.

 

"But while there are lots of good talkers and people saying they are going to do this, that and the other, I don't see anyone coming here and saying: `Right, we'll buy the club and do this and that'.

 

"So I am going to see this job through, and I believe I will turn this situation around.

 

"My bags aren't packed."

 

This whole speech shows how carried away Freddie has become with his role.

 

The most important person at a club is the manager, not the chairman. The chairman should be a background figure who finds the best available manager, and who provides the resources for the manager to do the job. From the tone of Freddie's comments, you'd have thought he was Mr NUFC.

 

I'm particularly pissed off at hearing him say that he'd rather the fans attack him, rather than the manager and the players. When Sir Bob and then Souness were attacked by his cronies in the local press, he let them hang out to dry. The minute he comes under attack, he comes out with an endless serious of excuses and distractions, using the media to get his message across.

 

I'm beginning to think that he is not a very nice man.

 

[Baggio]

:obi: :obi: :obi: :obi: :obi:

 

Will remember that.

 

That isn't laughing at Newcastle, just at the very idea that FFS buying outright control would in any way be beneficial for the club.  It would be the worst possible scenario for NUFC imho and the vast majority of contributors heare share that opinion.

 

But we don't post laughing smileys at the idea, also nobody mentioned it being beneficial to the club before you posted this, the fact is you've come on here yet again to laugh at our misfortune, I'm just glad that more people are seeing you for what you really are.

 

[Guest Cyberbats]

The profile of Freddie Shepherd at Wikipedia makes for interesting reading as its a balanced third party review. I particularly like the bit about his brother Bruce being the brains behind the family business, it seems the Fat Controller cannot even take the credit for the success of his own business.

 

I have never been fond of FS, and in the early days of a previous incarnation of this forum, I was roundly criticised by most for supporting Sir Bobby Robson and trying to open peoples eyes to the shortcomings of the Chairman. Anyway, the Wiki article below makes interesting reading.....

 

Freddy Shepherd

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Freddy Shepherd is a businessman and chairman of Newcastle United, best known for bringing Michael Owen to the club in 2005. In 1998, he became infamous for making disparaging comments about his own club's supporters in a tabloid newspaper. Shepherd has also courted controversy among football fans by sacking legendary manager Bobby Robson and replacing him with Graeme Souness, then in charge of a struggling Blackburn, and also for insisting that big clubs have no responsibility towards lower league clubs. On Saturday 4th November 2006, after the Newcastle United defeat against Sheffield United, fans held a protest outside the main entrance of St. James' Park calling for Shepherd and the board to be sacked, calling chants of "Sack The Board" and "Shepherd Out."

 

Contents [hide]

1 Background

2 News of the World Exposé

3 Finances

4 Sacking of Bobby Robson

5 Lower Leagues Controversy

6 Newcastle Supporter Protest

7 External links

8 See also

 

 

 

[edit] Background

Before achieving wide-spread recognition at Newcastle United, Shepherd had established his reputation as part-owner of a successful business. Along with his brother, Bruce, and business partner Neil McGurk, he jointly owns Shepherd Offshore, a marine and offshore services company based in Newcastle upon Tyne. Bruce, also an NUFC board member, is widely believed by many to be the driving force behind the family's business success and financial strength through his role as managing director of the Shepherd Offshore business.

Shepherd was a Newcastle United shareholder in the 1980s, and became part of Sir John Hall's consortium that took over the club in December 1990. By Shepherd's own account, he became involved in the takeover when Sir John Hall, a family friend, called him and suggested he speak to Hall's son, Douglas, about the club's dire financial situation[1]. The takeover was successful, and Shepherd was appointed to the board. In December 1996, Shepherd became chairman after Sir John Hall stepped down; Douglas Hall was appointed deputy chairman.

 

His general approach to running the club, as well as the ongoing fallout from the News of the World story, have earned Shepherd a number of unflattering nicknames such as "Fatty Shepherd"[2],the "Fat Controller"[3] and "Baron Greenback"[4].

 

On 20 August 2006, it was rumoured that Sir John Hall had been approached to sell his stake in the club to a private equity group called Belgravia. If the rumour is true, it is expected that Shepherd will attempt to contest the offer and may, with his existing 28% shareholding as a base, mount his own bid for control of the club.

 

 

[edit] News of the World Exposé

In March 1998, Shepherd and Douglas Hall were the target of a News of the World exposé, led by the “Fake Sheikh” Mazher Mahmood. The pair, believing Mahmood to be a wealthy Arab prince trying to set up a business deal, were caught mocking the club's own supporters for spending extortionate amounts of money on merchandise, calling female supporters “dogs”, and mocking star striker Alan Shearer by calling him the "Mary Poppins of football", all while frequenting a brothel.

 

Amidst heavy media coverage, the Newcastle Independent Supporters Association and the then Minister for Sport, Tony Banks, called for the resignation of the pair[5]. Although reports from sources close to Shepherd initially indicated he was contractually unable to resign, he and Hall had both left their posts within two weeks of the scandal breaking.

 

Only ten months after resigning, Shepherd and Hall, the majority shareholders at Newcastle, voted themselves back on to the board. This led to the immediate resignation of the PLC chairman David Cassidy, who had taken the position just six months earlier. Shepherd has since taken over as PLC chairman.

 

 

[edit] Finances

Shepherd owns almost all of his Newcastle shares through Shepherd Offshore, which is run by his brother, Bruce. Unlike the Halls, who have been steadily selling off their shares since floatation in 1997, the Shepherds have increased their holding. They now own 28.01% of the club, up from about 22% in April 2005. Since 1997, the Shepherd's have made ₤8,351,298 from Newcastle United, ₤5,489,239 in share dividends and ₤2,862,059 in salaries. In 2005, Shepherd's annual salary from the club was £552,954[6].

It should be noted that, despite his undoubted unpopularity, Shepherd's handling of the club's finances[7] has never been subject to any official investigation by the stock market, fraud squad or any other agency. It can not be said, therefore, that however unpopular his management style and the dividends awarded to himself and Hall may be, that there is anything illegal about the way in which Shepherd runs Newcastle United and benefits from either his official positions or his shareholding in the club.

 

 

[edit] Sacking of Bobby Robson

In August 2004, Shepherd fired manager Bobby Robson four games in to the new season. In the week before the sacking, Shepherd was quoted as saying that Robson would not be offered a new deal at the end of the season, and that Robson would be “in the Guinness Book of Records” if he were still the manager at 73 years old[8]. It is unclear if Shepherd made his statement after consulting Robson, but Robson admits that he had an agreement with the club that he would retire at the end of the season. Robson also stresses that there was an agreement that he would not be sacked[9]. Afterwards, Shepherd said that sacking Robson was “the hardest thing I have ever done in my life”, but then added “I didn’t want to be known as the man who shot Bambi.”

 

In his 2005 autobiography Sir Bobby Robson provides detailed criticism of Shepherd's chairmanship, claiming that while manager he was denied information regarding the players' contracts and transfer negotiations. He also criticised Shepherd and Douglas Hall, the club's deputy chairman, for their focus only on the first team and St James' Park, causing them to neglect less glamorous, although equally important, areas such as the training ground, youth development and talent scouts. The club's training ground has been notorious in the past, due to its unkempt state, for causing injuries to first team players.

 

 

[edit] Lower Leagues Controversy

Shepherd courted controversy in a speech at the 2004 Dubai Soccerex international football forum, stating that large and successful clubs should not be concerned about those struggling at the lower end of the industry. Shepherd said “When we have got 52,000 fans at each home game, the last thing we are worried about is clubs in the third division," and added, "There is no sympathy here"[10].

 

 

[edit] Newcastle Supporter Protest

Following the defeat to Sheffield United on 4 November 2006, more than 2,000 fans protested outside St James Park, calling for his resignation[11].

 

Websites such as True Faith and United For Change are leading a supporter campaign against him.

 

 

[edit] External links

United For Change

Interview with Douglas Hall

Interview with Freddy Shepherd

Newcastle United Finances

Everything you ever wanted to know about Shepherd

Shepherd's apology to Newcastle women

Website devoted to showing an insight into NUFC finances

Newcastle Supporters Website and Messageboard

 

[Mick]

1% of the club changed hands on Wednesday so somebody is making a move on the club, at least it looks that way, unless soembody just knows something and is looking to make a profit from the shares, something that only the Halls and Shepherd have done to date.

 

I'm sure if it was Shepherd then he'd have had to make an announcement as that 1% would have taken him over the limit where he would have to make a bid, again, at least that's the way I see it.

[Baggio]

Just to sum up the posts and add a couple of bits:

1. FS has had enough of the Halls. They seem to have taken their dividends and may have been poking their noses in, in some way.

2. The possibilility of Belgravia taking over is unsettling.

3. FS has publicly stated for years he has been building his shareholding.

4. Could be a ploy to force others hands.

5. Belgravia eat FS for breakfast - they rely on investments being profitable and are not movers and shakers. A takeover would likely see a new cheap stadium and St James's redeveloped.

6. FS cant afford it and would transfer debt to the club.

 

Let me state my position. I'm ambivalent regarding Shepherd. All that concerns me is that he does what is best for the club.

 

However

I have no time for the Halls as, regardless of their achievements. They built us up, became a PLC and made a lot of money.  By selling now they will make even more. Thererfore they saw Nufc a a money making  opportunity. Remember the true reason Keegan left.

Belgravia and the like exist only to make money. They are not a fairy godmother. If they took over St. James's would be redeveloped and the club moved - opinion.

FS, if he buys the shares, has to make the same offer to all parties once he reaches a certain level. Other shareholders do not have to accept. If he held 60% I'm sure he could live with minority shareholders and remain a Plc. Although I believe he will try for 95% (?) and get 100%. 

FS is worth a lot more than most of you seem to think. Please correct me if wrong but I think I read he is worth about 250 million via Shepherd Offshore and personal wealth. Financially, if he could take over the club, money would be personal or debt against his assets. If the debt can be transferred it would be against the stadium, which does have equity.

 

Personally I would rather see FS take us over.

Reasons

1. He puts his neck on the block and if there has been interference it will get rid of that problem.

2. If he has been the problem any further deterioration in performance will cost him.

3. Any further losses will be his. This in turn will be reflected in a reduced squad, wage bill - although we have one of the best ratios.

4. He may bring in quality staff.

 

I realise this is an emotive issue but many of you need to divorce emotion from business. I once had a business partner who I liked but he did less and less. When our mortgage was to be renewed he was offered the opportunity to put his share up to my level but declined so my Family Trust took over the mortgage and the trust financed a new business where, again, he was offered shares. We later asked him to leave as he was playing no usefull part in the business and are now progressing. He is still a friend as far as I am concerned but after that its up to him. I see FS in the same light. The business is what matters regardless of ones feelings for the individual. Feelings are for individuals. Protest by all means, show dissatisfaction but beyond that grow up.

 

A very balanced view with good points in both directions. Don't expect certain people who can't see the bigger picture to agree with you though. The Halls have always been the major shareholders, I've been trying to tell people who blame Shepherd for every defeat the club suffers  :roll: that they are more to blame for the big decisions - good ones and bad ones - than anyone by that very virtue.

 

SJH may have been a big charismatic figure, but by his own admission he never wanted to be chairman, and in my opinion, he just got lucky with Keegan, as he didn't even want him, it was other members of his board who pushed him into it, which I have posted elsewhere. Now they want to bail out. They have done their bit for the club and saved us when we needed them, we shouldn't forget that, but its a business world, if someone takes over the club who don't have the interests of the club at heart and are only in it for a fast buck, then we will all suffer.

 

 

I agree with most of that, it's been known for a while that Shepherd's hands have been tied on a lot of things by Douglas Hall and it would be interesting to see how he does things if he had complete control, an example being that I've always thought Douglas Hall was the reason behind such high dividends being paid.

 

Can't say I agree with the opinion about what would happen to the stadium, why would they knock down the one we haven't even paid for yet to build on when they wouldn't even own the land, only to build us a smaller (I presume that's what you meant by cheaper) one and lose out on ticket sales? Can't see that ever happening tbh

 

Could he afford it? I know nothing about his personal wealth.