Ikon Posted November 21, 2017 Share Posted November 21, 2017 My guess is that we'll be sold for £335m or there abouts, based on fuck all.. Link to post Share on other sites More sharing options...
Scoot Posted November 21, 2017 Share Posted November 21, 2017 SSN just delivered an ‘update’. Basically that negotiations are ongoing. Nowt new. They love an update and then just tell you exactly what they've told you all day. Link to post Share on other sites More sharing options...
HaydnNUFC Posted November 21, 2017 Share Posted November 21, 2017 I was wrong then. What a w*****. First we find out Piers Morgan is a sex offender and now Haydn is a liar. What next? Hads on, Haydn's a liar. And also I learnt earlier on that buyers are liars. Could it be? Yes. I'm buying the club. Link to post Share on other sites More sharing options...
Figures 1-0 Football Posted November 21, 2017 Share Posted November 21, 2017 SSN just delivered an ‘update’. Basically that negotiations are ongoing. Nowt new. They love an update and then just tell you exactly what they've told you all day. They are clever with how they word it. ‘We told you yesterday that MA has received a formal takeover bid and now we can tell you...’ *reaches for the Radox and turns the taps on* ...‘negotiations have continued today’ Link to post Share on other sites More sharing options...
themanupstairs Posted November 21, 2017 Share Posted November 21, 2017 Maybe that's what the relegation clause is about? If the process of completing the deal takes that long then maybe they're thinking it might be concluded late into the January window leaving them little time to get players in? This 100%. It's the only thing that makes any sense, and they have every right to insert that clause to try and speed up the process. If Ashley wants to take his sweet ass time and allow January to pass without any investment, we could be in serious danger of going down. Link to post Share on other sites More sharing options...
Matt Posted November 21, 2017 Share Posted November 21, 2017 Having a clause which increases the value of the sale price in the event of PL survival is just an 'earn-out' and is a pretty common feature for transactions in volatile sectors, especially with such a huge binary factor like this. It also helps to remind Ashley of what the club might be worth to him if the sale is dropped and the season nosedives. Link to post Share on other sites More sharing options...
Kanj Posted November 21, 2017 Share Posted November 21, 2017 Having a clause which increases the value of the sale price in the event of PL survival is just an 'earn-out' and is a pretty common feature for transactions in volatile sectors, especially with such a huge binary factor like this. It also helps to remind Ashley of what the club might be worth to him if the sale is dropped and the season nosedives. Link to post Share on other sites More sharing options...
NUFC_Chris Posted November 21, 2017 Share Posted November 21, 2017 Lengthy news story on Tyne Tees news just now on it, they even had a camera outside her house this afternoon. Nothing new to report though. Sent from my iPhone using Tapatalk Link to post Share on other sites More sharing options...
Ameritoon Posted November 21, 2017 Share Posted November 21, 2017 What was her house like? Link to post Share on other sites More sharing options...
Scoot Posted November 21, 2017 Share Posted November 21, 2017 What was her house like? Really lovely. Link to post Share on other sites More sharing options...
Chicane Posted November 21, 2017 Share Posted November 21, 2017 I'm gonna need some PCP if this falls through and we're stuck with Ashley. Link to post Share on other sites More sharing options...
Wilson Posted November 21, 2017 Share Posted November 21, 2017 I'm gonna need some PCP if this falls through and we're stuck with Ashley. Link to post Share on other sites More sharing options...
Interpolic Posted November 21, 2017 Share Posted November 21, 2017 What was her house like? Really lovely. Link to post Share on other sites More sharing options...
Figures 1-0 Football Posted November 21, 2017 Share Posted November 21, 2017 Also another message that is very clear for the fans is not that a new owner will come and spend £100million in the transfer window. No chance. So our money will be more or less the same #StaveleyOut.com Link to post Share on other sites More sharing options...
UncleBingo Posted November 21, 2017 Share Posted November 21, 2017 Mugabe's gone. It's a sign I tell thee. Link to post Share on other sites More sharing options...
Mr Logic Posted November 21, 2017 Share Posted November 21, 2017 Pure speculation here... If, and its a fucking big IF, there are/were relegation clauses worded in to the bid somehow I think it is only being used as a jostling tactic to a more attractive but fundamentally similar offer. The first question to ask is where is all this info coming from, does it all just boil down to twitter rumours being picked up in a 2017 version of Chinese Whispers? Fair enough for the news to leak out that a bid has been tabled, but to then get into the forensics of clauses within said bid - I'd take all that with a heavy dose of salt. If the bid for cash was around the 270/280m mark it is basically offering Ashley his money back (including the loan) and ignoring the benefit his other business dealings have enjoyed through 10 years of association. One which he isn't going to accept because he will want some kind of compensation for that loss of assosciation. Not rational in a logical sense perhaps but probably very valid in a business sense. The possible 350m bid of 200m now plus 3 x 50m installments is an attractive offer, (if you remove the relegation clause). He won't accept that one because of the potential unknowns, inserted clauses. So you go back with a bid of, say, 310m and what looks like an olive branch of, say, 50% reduced advertsing space for the next two years. Now he has less to baulk at, and if he truly understands what happens to the club should he not sell it becomes even more attractive. He makes a (small) profit and gets, an albeit reduced, continued exposure for a set period. My only fear is he is such an egotistical psycho, he'll hate to be perceived as being the victim in a game of 'oneupmanship', that he cuts his nose off to spite his face and we spend the forseeable future staring up at the Premiership from the lower leagues. What's probably important to him is that the deal looks like he did well, even if ultimately the news comes out later that it wasn't as good as it was made to appear. By then the meme is out that Ashley did well and not many will be paying attention to the actual fine details. Link to post Share on other sites More sharing options...
1964 Posted November 21, 2017 Share Posted November 21, 2017 Maybe that's what the relegation clause is about? If the process of completing the deal takes that long then maybe they're thinking it might be concluded late into the January window leaving them little time to get players in? This 100%. It's the only thing that makes any sense, and they have every right to insert that clause to try and speed up the process. If Ashley wants to take his sweet ass time and allow January to pass without any investment, we could be in serious danger of going down. Are we 100% confident that the HMRC issue is not going to result in a points deduction or worse? That may be why there is a clause, although it is doubtful that any investigation by HMRC will be concluded this season Link to post Share on other sites More sharing options...
Sho Time Posted November 21, 2017 Share Posted November 21, 2017 Pure speculation here... If, and its a fucking big IF, there are/were relegation clauses worded in to the bid somehow I think it is only being used as a jostling tactic to a more attractive but fundamentally similar offer. The first question to ask is where is all this info coming from, does it all just boil down to twitter rumours being picked up in a 2017 version of Chinese Whispers? Fair enough for the news to leak out that a bid has been tabled, but to then get into the forensics of clauses within said bid - I'd take all that with a heavy dose of salt. If the bid for cash was around the 270/280m mark it is basically offering Ashley his money back (including the loan) and ignoring the benefit his other business dealings have enjoyed through 10 years of association. One which he isn't going to accept because he will want some kind of compensation for that loss of assosciation. Not rational in a logical sense perhaps but probably very valid in a business sense. The possible 350m bid of 200m now plus 3 x 50m installments is an attractive offer, (if you remove the relegation clause). He won't accept that one because of the potential unknowns, inserted clauses. So you go back with a bid of, say, 310m and what looks like an olive branch of, say, 50% reduced advertsing space for the next two years. Now he has less to baulk at, and if he truly understands what happens to the club should he not sell it becomes even more attractive. He makes a (small) profit and gets, an albeit reduced, continued exposure for a set period. My only fear is he is such an egotistical psycho, he'll hate to be perceived as being the victim in a game of 'oneupmanship', that he cuts his nose off to spite his face and we spend the forseeable future staring up at the Premiership from the lower leagues. What's probably important to him is that the deal looks like he did well, even if ultimately the news comes out later that it wasn't as good as it was made to appear. By then the meme is out that Ashley did well and not many will be paying attention to the actual fine details. #itried Link to post Share on other sites More sharing options...
Odear Posted November 21, 2017 Share Posted November 21, 2017 SSN just delivered an ‘update’. Basically that negotiations are ongoing. Nowt new. Interested to see what Odin thinks of this I think another month will go by before we have any real update on the situation. Also even if it does go through in late December / early January, it shouldn’t effect the transfer window. Remember when City were taken over.. they wrote some sort of promissory note so that they could sign Robinho. Even if the takeover isn’t completed, if a buyer is serious they should be able to do this so that we can invest to stay up. Link to post Share on other sites More sharing options...
Greg Posted November 21, 2017 Share Posted November 21, 2017 SSN just delivered an ‘update’. Basically that negotiations are ongoing. Nowt new. Interested to see what Odin thinks of this I think another month will go by before we have any real update on the situation. Also even if it does go through in late December / early January, it shouldn’t effect the transfer window. Remember when City were taken over.. they wrote some sort of promissory note so that they could sign Robinho. Even if the takeover isn’t completed, if a buyer is serious they should be able to do this so that we can invest to stay up. You've changed your tune. Link to post Share on other sites More sharing options...
Dave Posted November 21, 2017 Share Posted November 21, 2017 The involvement of Freshfields in all this can only be a very good thing Shirley? Nothing to say Chris Mort is involved personally but it's a third party that has knowledge of both NUFC and Ashley. Link to post Share on other sites More sharing options...
Dave Posted November 21, 2017 Share Posted November 21, 2017 In fact he probably is involved: In addition to his time as Chairman of Newcastle United, Chris leads our sports practice and has advised on numerous matters in the sports sector, such as the enforced changes of ownership at both Liverpool and West Ham United, CVC on its acquisition of Formula One Administration, on aspects of the London 2012 Olympic Games and numerous stakeholders (such as clubs, owners, sponsors, retailers, gaming companies and broadcasters) on their interests in the sports sector. Link to post Share on other sites More sharing options...
Greg Posted November 21, 2017 Share Posted November 21, 2017 In fact he probably is involved: In addition to his time as Chairman of Newcastle United, Chris leads our sports practice and has advised on numerous matters in the sports sector, such as the enforced changes of ownership at both Liverpool and West Ham United, CVC on its acquisition of Formula One Administration, on aspects of the London 2012 Olympic Games and numerous stakeholders (such as clubs, owners, sponsors, retailers, gaming companies and broadcasters) on their interests in the sports sector. It will depend on what else he's working on and if he's already working for someone else on another deal under an exclusivity agreement. Unlikely I would guess so probably involved. The firm working for Ashley advised Sir John Hall on his sale to Ashley. Link to post Share on other sites More sharing options...
Dave Posted November 21, 2017 Share Posted November 21, 2017 In fact he probably is involved: In addition to his time as Chairman of Newcastle United, Chris leads our sports practice and has advised on numerous matters in the sports sector, such as the enforced changes of ownership at both Liverpool and West Ham United, CVC on its acquisition of Formula One Administration, on aspects of the London 2012 Olympic Games and numerous stakeholders (such as clubs, owners, sponsors, retailers, gaming companies and broadcasters) on their interests in the sports sector. It will depend on what else he's working on and if he's already working for someone else on another deal under an exclusivity agreement. Unlikely I would guess so probably involved. The firm working for Ashley advised Sir John Hall on his sale to Ashley. Surely use of these two particular firms shows just how serious both parties are about making a deal. Link to post Share on other sites More sharing options...
Kanj Posted November 21, 2017 Share Posted November 21, 2017 In fact he probably is involved: In addition to his time as Chairman of Newcastle United, Chris leads our sports practice and has advised on numerous matters in the sports sector, such as the enforced changes of ownership at both Liverpool and West Ham United, CVC on its acquisition of Formula One Administration, on aspects of the London 2012 Olympic Games and numerous stakeholders (such as clubs, owners, sponsors, retailers, gaming companies and broadcasters) on their interests in the sports sector. It will depend on what else he's working on and if he's already working for someone else on another deal under an exclusivity agreement. Unlikely I would guess so probably involved. The firm working for Ashley advised Sir John Hall on his sale to Ashley. Surely use of these two particular firms shows just how serious both parties are about making a deal. He is according to legalweek.com - very reputable legal news site. Not sure if it show's up or not so copy and pasting link contents here: This was on legalweek.com this morning - http://www.legalweek.com/sites/legalweek/2017/11/21/freshfields-and-dentons-up-front-on-takeover-bid-for-newcastle-united-fc/ Freshfields Bruckhaus Deringer and Dentons are playing the lead roles on PCP Capital Partners’ takeover offer for Newcastle United Football Club. It was widely reported yesterday (20 November) that PCP had made a bid in the region of £300m for the Premier Legal club late last week, although the exact value of the offer has been disputed. Newcastle’s owner, Sports Direct founder Mike Ashley, announced last month that he was considering a sale after 10 years of ownership. The club, which he purchased for £133m in 2007, is currently sitting in 11th place in the Premier League after returning to English football’s top flight this summer following its relegation in 2016. A competitive bidding process is now underway, with a number of interested parties taking part. Dentons is advising Ashley on the bids, with real estate partner Andrew Henderson leading the firm’s team alongside corporate partners Richard Barham and Matt Tinger. PCP, which is led by CEO Amanda Staveley, has turned to Freshfields for advice. Private equity partner Charles Hayes and corporate partner Christopher Mort are leading the magic circle firm’s team on the bid. Mort also led the Freshfields team that advised Ashley on his takeover of the club in 2007. He was subsequently appointed as club chairman, taking a year-long sabbatical from Freshfields to fill the role. Dentons also played a role on the 2007 deal, advising Newcastle United president Sir John Hall on the sale of his stake to Ashley, with corporate partner and current UK CEO Jeremy Cohen heading up the firm’s team. Real estate partner Henderson has acted for Ashley’s company Sports Direct on a series of property deals, including its acquisition of 161-167 Oxford Street and 36 Poland Street for £108m and its £44m disposal of an office block to the University of Westminster. In a statement, Dentons said: “We are delighted to be engaged on such an important and high-profile instruction, which demonstrates our multidisciplinary strengths, our expertise in the sporting sector and our role as key business advisers to our clients.” Freshfields declined to comment. Ashley also regularly turns to City firm RPC, which advised him on his recent High Court win against investment banker Jeffrey Blue. The case hinged on the allegation that during a night of heavy drinking, Ashley had promised Blue £15m if he could boost Sports Direct’s share price from £4 to £8. PCP, meanwhile, is currently embroiled in a legal dispute with Barclays over a controversial $3bn capital-raising exercise by the bank at the height of the 2008 financial crisis. At the time, Barclays held discussions with both PCP and Qatar Holding, then the bank’s largest shareholder. PCP alleges that Barclays acted dishonestly with regards to the different terms offered to Qatar Holding for participation in the capital raising and is claiming hundreds of millions of pounds in damages. US firm Quinn Emanuel Urquhart & Sullivan is acting for PCP on the dispute, while Simmons & Simmons is representing Barclays. Link to post Share on other sites More sharing options...
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