Keith Harris, the former Football League chairman, who is chairman of Seymour Pierce Investment Bank, who are handling the sale of Newcastle United, is still optimistic he can still find a suitable buyer.
Keith Harris - credit crunch over by early November - don’t think so
However, the credit crunch that has become global very quickly, cannot be helping the situation at all.
Harris is aware the current unpredictability with world markets is a major concern:
“You can’t avoid being affected by the financial markets one way or another,” “We didn’t set an official deadline. But one thing I did read from the transcript from the BBC show last weekend was that the anticipated end to this was early in November and I don’t demure from that.”
“What happens between now and then is as unpredictable as what the stock market is going to do. I’m still hoping that we are going to get decent offers.”” “There was never a ‘you-must-get-your-bids-in-by’ (date) because that’s not the way you do these things.”
“What we said is that we had sent the teaser documents out. We have had a good initial response in terms of supplemental questions. We are now in the process of answering those questions.”
“We’re doing that here and getting back to people and obviously we are encouraged we’ve had those questions because if people aren’t interested they don’t bother asking questions.” “Don’t forget that 17 is a lucky number for Mike. Think of the Newcastle shirt he used to wear.”
Well the last shirt Mike wore had King Kev on the back, which is a little ironic now.
We’re not sure the crunch will be over any time soon, and it may be that the sale will be delayed because of that, but we hope it will not, because the quicker the deal is done the better for the club, the players and the fans.
But we have to assume what Keith is saying about no deadlines and the like is the truth, because he’s the man actually handling the sale by Seymour Piece Bank.
The season is passing us by, and that’s the last we want, after the last two seasons of less than mediocrity we’ve just had. It’s going to make it even more important now that Joe Kinnear does well, and he gets the full and complete support of the fans - for the good of the club.
Comments welcome.
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56 responses so far ↓
1 ToonEskimo // Oct 7, 2008 at 18:03
Yeah, I’m a bit short this month, I’ll buy the club in November after I’ve sold some of the kids’ toy’s on ebay….
2 Who is Derek Llambias? // Oct 7, 2008 at 18:11
mis quoting there Ed.
When he says he expects it to be over, he’s referring to the sale of the club.
3 John(indian toon) // Oct 7, 2008 at 18:18
Bloody shit, m pisd wit da take over shit, hope da its gets final on 17th or else m gona kill MA.
4 M. Stockley // Oct 7, 2008 at 18:23
off subject but does anyone know when jonas will be fit?
5 Who is Derek Llambias? // Oct 7, 2008 at 18:28
city game aparently
6 M.stockley // Oct 7, 2008 at 18:36
Cheers mate. Lookin good 4 citeh. Id go with. Given
Taylor beye colo bassong
Jonas barton guthrie nzogbia
Duff
Owen
7 TOONPIPES // Oct 7, 2008 at 18:42
Most sensible article yu have posted in a while Ed . . Thos does seem yu have misquoted the harris geezer , .there are a few people I know who seem to think le crunch cud be over, by that I mean over the worst + situation getting btter, by end first quarter next year and I can’t see it being any earlier . .I do not think there will be a re-bound so any recovery wil be slow - as I have said many times on here - nee sale of this club in the near future . . And, it suits me.
8 magpie6699 // Oct 7, 2008 at 18:53
M stockley - I think Barton is a couple of matches off yet?
9 Thump // Oct 7, 2008 at 19:00
*bashes head against the wall*
10 Nick C // Oct 7, 2008 at 19:01
My prediction. 6 months time owner = Mike Ashley, Manager = Joe Kinnear….
11 wigaz // Oct 7, 2008 at 19:03
Bartons back for the game against the mackems. We need him back like! buts legs have well & truly gone, Barton & guthrie is the way forward. Sorry nicky i’m a fan of yours but it’s time to let the younger lads have a go. I think there’s games especially away from home when we could play all 3 of them & try to nick results.
12 Cooper // Oct 7, 2008 at 19:09
By the way if anybody on here can get a hold of two sunderland away tickets i will pay you quite a bit for them
i am a season ticket holder but i wont get them if i apply because i dont have enough loyalty points
13 cause I got the girth // Oct 7, 2008 at 19:58
So there is a story today saying that there is a dead line for people wanting to place bids in with the club by October 17th, and then Kieth Harris, the man in charge of the sale comes out and gives an “official statement” and says “There was never a ‘you-must-get-your-bids-in-by’ (date) because that’s not the way you do these things.”
Media – Fcuking idiots, Joe was right, JFK for president!
14 ed_speed // Oct 7, 2008 at 20:45
evening lads.
nile ranger scored again tonight, looks alrite to me he does.
one for the future?
regards,
ed
15 John(indian toon) // Oct 7, 2008 at 20:50
Shit, its in news paper dat anil ambani is eyen on spuds an west ham. GOD LET HM TURN UP AN BUY MAGPIES.
16 Ganiyu // Oct 7, 2008 at 21:44
Any one know the result of the Nufc reserves?
17 IrishMan // Oct 7, 2008 at 21:49
The current financial situation is a real worry regarding the sale of the club - I am not sure that it is going to happen anytime soon.
What happened about a fans’ shareholding scheme?
18 hitman // Oct 7, 2008 at 21:59
ashley is a tw@t the fu*ka could ov had the club sold by now,the fat greedy tw@t whats as much money as he can get.
19 Robbo // Oct 7, 2008 at 22:04
Did anyone realise that at Chelsea the fans own the pitch and not Abramovic.
Chelsea Pitch Owners was created in 1997 it purchased the Stamford Bridge freehold, the turnstiles, the pitch and the Chelsea FC name with the aid of a loan from Chelsea Village plc, the parent company of the club.
Organisation and ownership
The new entrance to the West Stand.In purchasing the freehold and the naming rights, the intention was to ensure that Stamford Bridge could never again be sold to property developers and that the Chelsea FC name could not be traded on outside of the stadium. Should Chelsea decide to move to another stadium in the future, they will not be able to use the name Chelsea Football Club.[1]
The company is not listed on any Stock Exchange. Its purpose is to raise the £9.2million needed to pay off the loan and then lease the freehold back to the club, on the strictly-defined proviso that the ground may only be used for football purposes. Irrespective of how many shares are owned by an individual, voting rights are limited to 100 per shareholder to prevent any one person or organisation gaining control. Fans were encouraged to purchase shares in order to secure the club’s future.
I thought this would be a good idea for the newly formed Newcastle United Supporters Club. And would ensure that the fans would always have a say at NUFC as raising the cash to purchase the whole club seems like a long shot.
20 hitman // Oct 7, 2008 at 22:07
robbo,when sir john hall sold his stake in the club,ashley had to pay off the morgage for the ground mate,this is the debt that ashley has moaned about.
21 mozza // Oct 7, 2008 at 22:09
alreet hitman kid, the comical were still trying to sell the fat f**k as someone who cares aboot the club today, watching the match with his kids at home, everyone say ahhh cos he’s too frightened to go to the games in case we kill him and his family, pile of pish kid
22 hitman // Oct 7, 2008 at 22:14
alreet mozza,pity the fat tw@t never jumped through the winda like,the fu*ka is trying to squeeze as much profit oot the club as he can get,he dosnt care aboot us fans,the man only cares aboot money.all you ashley bum boys need ya heeds checked.
23 toonoot // Oct 7, 2008 at 22:15
Mortgage? I think Newcastle City Council own the land.
24 hitman // Oct 7, 2008 at 22:18
toonot,ashley had to pay off the mortgage of the ground.
25 mozza // Oct 7, 2008 at 22:19
can’t believe people are still fighting his cause hitman,its like taking it up the chocolate starfish of someone and then thanking them for it, spineless turds
26 toonoot // Oct 7, 2008 at 22:23
We are both right. The pitch, the seats, the stands etc. are mortgaged by the club, but the land actually belongs to the council. In other words the people of Newcastle own the land that SJP is built on.
27 mozza // Oct 7, 2008 at 22:24
interesting that lads
28 hitman // Oct 7, 2008 at 22:24
mozza mate its madness,ashley has flucked our club reet up,but these planks back him,lets hope they all do 1 when ashley does.TW@TS
29 mozza // Oct 7, 2008 at 22:26
ahhhh i just don’t want this pish to drag on, we all need to know what direction we’re heading in and sooner rather than later
30 toonoot // Oct 7, 2008 at 22:26
…. and that’s why the council had the b*lls to put up that vote of no confidence in the club
31 mozza // Oct 7, 2008 at 22:26
second that pal
32 toonoot // Oct 7, 2008 at 22:28
… and I know who we’d all like to pass the motion on
33 Ganiyu // Oct 7, 2008 at 22:35
Does any one know the real owners of etisalat?
34 mozza // Oct 7, 2008 at 22:35
aye its interesting that toonoot, here’s a thought is it in greenbacks interest to sell sooner rather than later,if it goes pear shaped and god forbid we look like going down, then the sale of the club would be dramatically reduced, so will he sell quick to avoid this risk?
35 hitman // Oct 7, 2008 at 22:45
mozza ashley can only sell to people who arnt affected to the credit crunch that has gripped the world,he flucked up in arab land,so where next,i carnt see many buyers me like,not unless we get some one with real wealth,like bill gates.lol
36 toonoot // Oct 7, 2008 at 22:47
Mozza: I think if he aint sold by Xmas, and we are still in the bottom five, he will sell to the highest bidder. He may have to sell at a loss. If he holds out - it’ll be an milestone around his neck all next year. He may be rich but this economy thing will be hitting him just like all the other greedy gits. My guess is he will sell at a loss before the year is out. He must hate us as much as we hate him. He wants out.
37 mozza // Oct 7, 2008 at 22:48
lol hitman, we can only dream pal, am of to me pit kid, laters
38 IrishMan // Oct 7, 2008 at 22:49
I think Nick C might be right (Post 10)
39 toonoot // Oct 7, 2008 at 22:50
When you wake in the morning you’ll find out it was all a bad dream
40 hitman // Oct 7, 2008 at 22:50
laters mozza
41 toonoot // Oct 7, 2008 at 22:51
Irishman. I don’t think he can stand it any longer. His tank might be on our lawn but it’s getting bloody hot and sweaty in there.
42 mozza // Oct 7, 2008 at 22:53
i hope you’re reet toonoot, a really do, i want this joker oot as quick as,neet lads
43 toonoot // Oct 7, 2008 at 22:53
This keith harris bloke looks like a right chancer
44 toonoot // Oct 7, 2008 at 22:54
See ya mozz
45 Ganiyu // Oct 8, 2008 at 2:35
Who is thomas cook?
46 Nick // Oct 8, 2008 at 8:05
In the cold light of day I still don’t think Ashley is the biggest problem. He may be misguided and surround himself with incompetents (apart from when Mort was here) but the way things are with the credit crunch does make the fans revolt seem a wee bit over the top.
West ham get Zola in a couple of days and life goes on. It’s a big if, but if JK can keep us going on a decent run, why upset the status quo? That would be so ironic to stumble on someone who wants the job and so far ( expletives apart) is doing OK.
My biggest fear if Ashley leaves is that it will mean the end of the likes of Kadar, Tozer, Kamblera, Bassong, Spear and Ranger coming in. Whatever anyone says, Ashley has addressed this very well, where previously the reserves and youth teams were very poor.
47 The Entertainers // Oct 8, 2008 at 8:15
Good point Nick
Whilst still wanting Ashley to sell up after monumental mistakes.
But these mistakes he made, often over shadow the good things hes done and honestly believe his true legacy is yet to be written.
There may be a day in 5 - 10 years time when the likes of Kadar, Ranger and Spears are in our first team we look back at Ashley in a different light.
Whoever comes in, i hope they carry on the same youth policy.
48 Toon Graeme // Oct 8, 2008 at 8:28
I think we should all get used to the fact that MA might still own us for a while longer. Unless a Billionaire come and splashes his own cash our way.
49 Born Again Geordie // Oct 8, 2008 at 8:36
Another day and the same old drivel - this is so boring now.
does anyone want to discuss football for a change ?
50 lesh // Oct 8, 2008 at 9:14
There you go Mr A….. you’ve let KK go, allowed players to be sold, not replaced, the squad’s thin; and look what you’re left with…….. A fine mess you got us into!
51 skin d // Oct 8, 2008 at 9:56
ashley done nothing good end of story.
52 Sav // Oct 8, 2008 at 10:21
Yes but Nick, I thought we already had a bloke who ‘wanted the job and so far was doing okay’? That was Keegan, wasn’t it?
The trouble will start when the January transfer window arrives and Ashley isn’t budging and instead we hear that Owen and maybe a few more are talking to other clubs. Things will turn ugly against Ashley even more then.
All those who seem to think KK was wrong make me laugh. When you look at the squad we’ve got does anyone think KK wasn’t right, that the squad is inadequate to withstand a season in the Prem, let alone progress up the table? For example, suppose we have an injury to Coloccini. He’s been criticised lately but God help the team without him - Taylor and Cacapa?! Scary prospect. We’ve already struggled after Beye got injured and Enrique isn’t pulling up trees.
Sooner or later, Joe Kinnear may move from being an interim troubleshooter on a ‘get out of jail free’ card to being responsible for bringing the club forward. On Ashley’s budget and with Wisey doing the shopping at Costcutters there’ll be plenty more expletives to come.
53 Nick // Oct 8, 2008 at 11:40
Sav i guess I mean someone who is prepared to tow the party line with what he’s got at his disposal and not make waves.
54 Plimuff // Oct 8, 2008 at 12:22
Last time I heard of Keith Harris he had his hand up a Green duck’s arse
55 Robbo // Oct 8, 2008 at 14:37
Hitman. I don’t think i have explained myself very well. My suggestion would be for Ashley to Sell say 10% of the club i.e the pitch etc as at Chelsea to the fans. The rest would be sold to whoever offers the best deal i suppose this way the fans would have some say in the running of the club in the future. Long shot I know but seems to work well at Chelsea.
56 Jasar // Oct 9, 2008 at 0:14
Newcastle is in the dying stages right now. They really need a new owner so he could revamp the club.
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