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Various: N-O has lost the plot over potential end of Mike Ashley's tenure


Jinky Jim

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I'm about to break down into tears here, what an absolute wuss :lol: :lol:

 

But it's been 13 years of pure misery and we deserve the party of a lifetime. LIFT THE LOCKDOWN.

Honestly think I will break down when it's announced, if it doesn't happen though I think I'll projectile vomit lol. It'll be the biggest come down ever, beats the other fakeovers hands down, please just happen......
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Here's a snippet of Henry Winter's column in the Times, titled 'Mike Ashley's exit will herald rebirth of Newcastle's soul'

 

***

 

When Mike Ashley finally leaves, and the party starts, it will not take long for Newcastle United’s soul to be re-found, eventually restored. It is there in the Strawberry pub, in the tweets of Alan Shearer, in fans like Bill Corcoran manning the food bank by the Gallowgate, and in the pre-match gatherings over a Guinness upstairs in the Tyneside Irish Centre. It’s everywhere.

 

Newcastle’s true spirit is there in the statue of the late, great Sir Bobby Robson at the corner where the Gallowgate and Milburn Stand embrace, in the memory of what Sir Bobby stood for: football from the heart that lifted the soul.

 

Words man!

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I’m surprised at how many players in our squad I would elect to retain with Arab owners. I’d keep all the centre backs (even Clark), Dubravka, ASM and Almiron for at least the next season.

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I haven't read anything to do with the takeover - is it going to happen? Or just be like the 400 previous versions of us being taken over? What's different this time? Any top-line info so don't have to trawl through. Cheers.

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First order of business for the new owners...........

 

A '80's retro style silver away kit!

 

If it's not the beheading of Bruce..

 

 

I bet the fat gimp is crying into his kebab tonight

 

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I haven't read anything to do with the takeover - is it going to happen? Or just be like the 400 previous versions of us being taken over? What's different this time? Any top-line info so don't have to trawl through. Cheers.

NUFC’s accounts have been officially linked with PCP via Companies house, which is the starting point of the transfer of ownership.

Multiple news agencies have reported that a deal of £300m has been agreed.

Some say the only thing left to be concluded is the FA’s fit and proper persons test. Many journalists are asking for a formal announcement to be made with them adding ‘subject to passing the FA’s fit and proper persons test’ included in the statement.

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An investor group led by Saudi Arabia’s sovereign wealth fund has reached a £300m deal to acquire Newcastle United Football Club from UK retail tycoon Mike Ashley, three people with direct knowledge of the matter told the Financial Times.

 

The agreement comes even as the world’s most popular sport faces an unprecedented disruption from the coronavirus pandemic, which has wreaked havoc on the global football schedule and halted the English Premier League with no indication of when the current season will be finished.

 

If completed, the deal will deliver another deep-pocketed Middle Eastern investor to global football. Saudi Arabia’s Public Investment Fund, which is steered by Crown Prince Mohammed bin Salman, is putting up roughly 80 per cent of the all-cash £300m purchase price, the people said.

 

 

The deal is being structured through a vehicle created by Amanda Staveley, the British financier. Her PCP Capital Partners will put in 20 per cent of the consideration for Newcastle, with 10 per cent of the funds coming from Ms Staveley personally, two people added, and the remainder from David and Simon Reuben, the wealthy British property investors.

 

Documents filed at Companies House last week appear to show that the entity through which Mr Ashley owns the club is providing Ms Staveley with a “vendor loan”, an arrangement where the seller of an asset lends money to the buyer to help them complete the transaction.

 

The documents list as the loan’s security any potential proceeds from Ms Staveley’s high-profile lawsuit against Barclays bank.

 

Two people close to talks added that the deal is subject to approval from the Premier League, which may take as long as several weeks.

 

The investor group has been in discussions with Mr Ashley for months, with news of the talks first being disclosed in January. At the time, discussions put a price tag of £350m on the club.

 

Mr Ashley, who has owned Newcastle since 2007, has had a tense relationship with the club’s fans, who have shown disdain for what they have perceived as a lack of investment in the squad under his ownership.

 

The founder of the Sports Direct retail chain has flirted with selling Newcastle before, notably in 2018, when he rejected a £250m cash offer from PCP and said discussions with Ms Staveley had been “a complete waste of time”.

 

But talks resumed and intensified the following year, with Ms Staveley bringing PIF to the negotiating table. While Mr Ashley is one of Britain’s richest people, with a high street empire that also includes House of Fraser and Evans Cycles, a deal would see Newcastle pass into the portfolio of one of the world’s largest sovereign wealth funds, with around $300bn assets under management.

 

Known as the Magpies, Newcastle sat in 13th position in the Premier League when the season was suspended on 13 March.

 

 

From the FT

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This quote was ten years ago...

 

“The best day will come when someone buys it from him and runs Newcastle like that club should be run."

 

"The club can never go anywhere under Mike Ashley, I promise you that."

 

- King Kev

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So if this goes through how much are they allowed to invest?

 

As much as they want. It's Saudi Arabia ffs.

 

Football is corrupt to the core. If these blokes want to come and start throwing the money around the footballing bodies won't stop them. Perhaps a few bribes, dressed publically as fines, and a few more bribes under the table, but that's it. Man City? They obviously just didn't keep the right people sweet or haven't fiddled the books properly.

 

 

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