Deadline For Newcastle Buyers Extended 10 Days

News today that Mike Ashley has extended the deadline for those interested in buying Newcastle from today until October 17th, which is a week come Friday.

That’s not particularly good news because due diligence is thought to take around 6 weeks before the sale would be complete, so maybe this is where Joe Kinnear is getting the information that he may be at Newcastle for as many as 10 games.

It is being reported that up to eight groups have contacted investment bankers Seymour Pierce to register a serious interest in buying the Tyneside club.  Owner Mike Ashley’s price is now thought to be from £280M to £300M for the club, and that would give Mike a tidy profit  of between £35M to £55M on the deal, in a short 17 months.

This seems like a delay in the proceedings, but it will not have too much of a negative impact if Joe Kinnear continues the way he’s started at the club.

He’s done a great job with the team in his first week, that’s for sure, and you cannot say he’s not a character and keeps things interesting.    😀

Comments very welcome.

37 comments so far

  • Paul R

    Oct 7, 2008 at 2:18 PM

    Comment #1

    shit …

  • Paul R

    Oct 7, 2008 at 2:19 PM

    Comment #2

    Not good news at all the sooner he is out the better we need the new people in so we can get new players in januray !!

  • samthecat

    Oct 7, 2008 at 2:23 PM

    Comment #3

    Nothing is going to be finalised until the end of November at this rate-my impressions of the South African bid is that they have 150m and need time to raise another 100m+.

  • MickMack

    Oct 7, 2008 at 2:24 PM

    Comment #4

    In 10 days time they (whoever “they” are) will say the deadline is in 10 days time and this will keep ongoing

  • Temuri K's Shiny Bonce

    Oct 7, 2008 at 2:24 PM

    Comment #5

    Don’t like that at all. This can only be because we don’t have anyone interested in us. Balls!!! I see that McCleland blokey has gone off to South Africa after his consortium fell apart. Not good not good at all

  • Spitfire

    Oct 7, 2008 at 2:28 PM

    Comment #6

    Hang on – was todays deadline not to “express interest” based on a prospectus. It seems reasonable to me that people would then get 10 days to formulate a proper costed -out bid based on the information contained in the prospectus. Don’t start getting wound up over this.

  • hitman

    Oct 7, 2008 at 2:36 PM

    Comment #7
  • Onepeterb

    Oct 7, 2008 at 2:48 PM

    Comment #8

    I agree with Spitfire the first step is always a request for “expressions of interest” Following that companies who compky with requirements will be asked to tender. Usually the gap is much more than 10 days. It may be that, if a number of stella companies have expressed interest MA feels he can push for an early completion date

  • Dondatta13

    Oct 7, 2008 at 2:58 PM

    Comment #9

    Why set a deadline, only to be seen to backtrack by extending it?

    Just goes to show how this tool makes knee jerk reactions/statements, only to retract or amend them at a later date.

    The quicker he is gone the better for us and him.

  • graeme

    Oct 7, 2008 at 3:00 PM

    Comment #10

    This excercise is only to sort the wheat from the chaff; identify who are the real players and who are the publicity seakers!!!

    The quicker MA knows whos for real, the quicker this sorry state of affairs in our history will be over. Its better to put the time in now, identify whos who and limit the effort to those who are actually able to put the deal together to take over the club.

  • Micky Toon

    Oct 7, 2008 at 3:05 PM

    Comment #11

    Naa, Mike just wants the money early so he can spend it on chestnuts and egg nog at christmas,


    Oct 7, 2008 at 3:14 PM

    Comment #12

    just got a real funny feeling about this!!

  • ToonEskimo

    Oct 7, 2008 at 3:21 PM

    Comment #13

    MA has played us like a fiddle and most have fallen for it…..
    he’ll be back at the games before long…….

  • canada willie

    Oct 7, 2008 at 3:30 PM

    Comment #14

    I agree with Freddy Shepherd. There is no way there will be a lot of interest in the club.

    Ashley will be lucky to get his money back. In fact the lower the price the more there will be available for new players, hopefully.

  • Micky Toon

    Oct 7, 2008 at 3:34 PM

    Comment #15

    Having read the full story that is posted on it seems that the BBC were jumping the gun with their 7th October deadline. It also goes on to say that any change of ownership will probably not take place until the end of November after due dilligence has taken place. This was hinted by JK last week when he said he could be here until the end of November.
    This all makes sense and is not worrying me in the slightest.
    So, there is no delay, as today wasn’t the deadline anyway and once again we have a blog entry that is written to cause uproar, rather than report what is happening.

  • xisco biscuits

    Oct 7, 2008 at 3:37 PM

    Comment #16


    was there ever a statement from club on this? i dont remember one. all i remember is some bbc gadgie saying “tuesday will be a significant day”. its all just speculation lads, dont believe it

  • Dondatta13

    Oct 7, 2008 at 3:41 PM

    Comment #17

    Fair doo’s xisco biscuits, Im just sick to the hind teeth of all things Ashley …. The sooner he goes the better!

  • Geordie Jayne

    Oct 7, 2008 at 3:44 PM

    Comment #18

    I hope this is not just a smoke screen for Ashley wanting to keep the club, as he is not making enough money.


  • Geordie Jayne

    Oct 7, 2008 at 3:47 PM

    Comment #19

    You know if there was a bit of information coming out of NUFC then we would not need to speculate, simple release of a short statement now and again would be nice for the supporters.

  • Paul

    Oct 7, 2008 at 3:53 PM

    Comment #20

    I think you’re right about the deadline Mickey Toon. Though I think that all this stirring about new owners bringing back Keegan before they’ve even made a bid might be putting potential purchasers off a little. The last thing they would want is a repetition of the club being held to ransom again by the mighty mouse. That would ‘Deja Vu all over again’.

  • Jude

    Oct 7, 2008 at 3:54 PM

    Comment #21

    why do newcastle united fans choose to waste their time and emotions on baseless, empty articles….Ed, come on we need better posts on this blog..

  • Jude

    Oct 7, 2008 at 4:02 PM

    Comment #22

    We are supporters not speculators Geordie Jayne..our business is to support the club

    If we decide to run along with every cock and bull story the tabloids draw up for us…it;s our own bl**dy business, no?

    NUFC is not obliged to release any information to you…they;ve already released what they have…that Ashley is open to buyers and that they appointed Seymour Price as bank to deal with the sale…beyond that we as fans have no right to any other info

    Even Ashley won’t take part….cuz Seymour would have been told of his selling price already and what kind of buyer he’s searching…and due diligence will be carried out under same bank’s direction…

    So let us fans do what we do best…support the team…and stop’s not goin to make the sale go on faster, it’s not goin to change the price the club will be sold at…it will only bring more instability..

    Let’s get behind the players and Joe Kinear….long live NUFC

  • Toon Graeme

    Oct 7, 2008 at 4:29 PM

    Comment #23

    Im not going to debate what is true or not.

    What I am going to say is this.

    I hope this sale gets sorted by January – as MA aint going to inject any cash into NUFC at transfer time!!!!

  • Marat18

    Oct 7, 2008 at 4:51 PM

    Comment #24

    sick of it all, I really am.

    is there any light at the end of the tunnel?

  • Geordie Jayne

    Oct 7, 2008 at 5:03 PM

    Comment #25

    Jude you have your point. I am not in a business I just support NUFC and I am interested in the future of NUFC.

    You are doing what I am doing and talking about this article.

  • Geordie Jayne

    Oct 7, 2008 at 5:05 PM

    Comment #26

    Also Jude, I was saying it would be nice to hear something from the club when they know every NUFC supporter are quite righly worried at the moment. He may not be obliged but it would be nice

  • skin d

    Oct 7, 2008 at 5:15 PM

    Comment #27

    could all be a ruse ,joe gets a few results everything settles down,then fat boy says he cannot find a buyer,you,ll have to put up with me.
    then joe gets the job which was never an interim position,but a permanent one.
    joe is already trying to soft soap everyone that mike is a good guy etc,i think this whole thing is b#####s.

  • It Could Be Worse, We Could Be Spurs! (DC)

    Oct 7, 2008 at 5:16 PM

    Comment #28

    Quite a few reports that Viduka’s injury is career ending. We might never see that chubby pie-eater in our beloved black and white again.

    And don’t get caught up in the business negotiations of the club it’s complicated stuff.

    Cheer up folks it could be worse…

  • beyethegreat

    Oct 7, 2008 at 5:21 PM

    Comment #29

    it could be worse where are these reports coming from i havent seen any

  • Oba one konobi

    Oct 7, 2008 at 5:21 PM

    Comment #30

    The delay should not affect signings in January, due to the buyers having already identified possible managers and when the offer is accepted the managers could be interviewed and sent on there way with a budget and a set of players in mind. It is an advantage to us to have our next 6 games live on TV so any prospective managers could easily identify where we need strengthning.
    I do hope that the new buyers suprise us with a world class manager with good contacts over europe so come january players are jumping to join the NUFC revolution.
    HAWAY da lads.

  • Xsico golden boot

    Oct 7, 2008 at 5:30 PM

    Comment #31

    Saying as the bank have said this is deadline day the 17 then that is proberbly right joe doing a good PR job Arecent post suggested wise scared to speak out against JK this could be true as he has not been mentioned since

  • shearer9

    Oct 7, 2008 at 5:41 PM

    Comment #32

    Apparently Keegan has rejected the chance to manage us under the Nigerians…

  • Born Again Geordie

    Oct 7, 2008 at 5:45 PM

    Comment #33

    It’s all to sell newspapers and was it not only alegedly reported that bids had to be in by today?

    Could it be the press got the 7th mixed with the 17th ?

    only a thought

  • chuck

    Oct 7, 2008 at 5:49 PM

    Comment #34

    Same old BAD PR used during the transfer window, the wall of silence.
    And Jude I believe you are wrong, no we dont own the club, but without us there is no NUFC,
    Its our city and our team and we do deserve some respect whoever owns the club, has `nt that become obvious during the last few weeks .
    It could take time for a sale and to who knows
    what group or entity, nothing guarantees that it would be a positive move.
    Have yet to hear of anyone I would be happy with as a prospective owner, have you ?

  • Ganiyu

    Oct 7, 2008 at 7:17 PM

    Comment #35

    It has been confirmed that ashley actually jumped out of the window during the game.nta news confirmed it.actually he wanted to fly to sjp to congratulate the lads

  • Sukasian

    Oct 7, 2008 at 9:35 PM

    Comment #36

    What is happening is that London based advisers are derailing a sale by telling investors that the club is parochial and Hicksville and that they’d be better off sticking to London and the NW.


    Oct 7, 2008 at 9:37 PM

    Comment #37

    i think theres a few geting sick 900 hundred away fans at everton got to be the lowest for years


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