Chris Mort has revealed the ways in which the club were run under Freddy Shepherd and the old board but our new chairman was quick to point out his comments were not meant to be a criticism of the old board.
I’m sure that’s what Chris meant but he’ll learn fairly quickly that negative criticism and negative stuff in general is what the local papers want in order to sell their stuff. And the comment was to the Sun newspaperÂ Â 🙁
Let’s see what Chris really said and what we can glean from this.
Newcastle Chairman Chris Mort – running the club a lot more professionally than previous regime
Newcastle United were said to be only days away from folding like a pack of cards before Mike Ashley rescued them with a Â£133M buy out.
Well that sounds a little bizarre but Newcastle Chairman Chris Mort has revealed how former chairman Freddy Shepherd let debts of Â£75M build up at Newcastle. Mort â€“ a well schooled London lawyer and businessman â€“ said that left the club on the verge of meltdown before Ashleyâ€™s purchase of the club in May.
Mort told the Sun newspaper today:
â€œWe were surprised at how bad the financial position was â€” they were in big trouble.â€ â€œIf the old board had not refinanced the club by the end of the financial year on June 30, it would have folded like a pack of cards.â€
â€œThey also spent sponsorship money before it had come in.â€ â€œAll the cash from Northern Rock, which should have been paid annually, has already gone.
â€œMoney was also borrowed against a deal with Adidas.â€ â€œWe prefer to invest as the cash comes in â€” not before.â€
But Mort was quick to add:
â€œIâ€™m not criticizing the previous regime.â€
â€œTheir heart was in the right place as they were doing what they could to bring success to the club but we are approaching things differently.â€
As we have said many times we think Mort has already put Newcastle on a much better footing financially and we are sure the club will be run in a much more professional way than Shepherd and company ran the club. We expect that Chris, following his strategic review of the club, has done lots of things – that fans will probably never see â€“ to have the club run much more efficiently on many fronts.
We are extremely pleased with the way in which Mort himself is presenting a much more professional image of Newcastle United to both the press and the public.
Now we just need to start winning more games and things will be rosy again in the Newcastle United garden 😀