Freddy Shepherd has come out and said that Mike Ashley should be asking a more realistic price for Newcastle United Football Club.
Freddy Shepherd – Mike asking far too much for club
Freddy said today:
“Mike Ashley says he wants to go, the fans want him out, but with the value of companies tumbling by the hour the price must be attractive to lure serious investors. Some of the figures that have been bandied about are laughable.”
“Serious investors know what he paid for the club and what he has put in – so he must accept there are no fast bucks to be made in this market.”
“One of our biggest banks HBOS had to take a massive hit and most companies and institutions have suffered too. Newcastle United is no different.”
“Mr. Ashley has to do what is best for the club. He must not try to make a profit out of a disaster.”
We agree with Freddy that it’s a really difficult time to get a good profit on Newcastle, so he should be able to accept £250M for the club and still make a little on the deal.
After all it has hardly been a long term investment and the club is in complete disarray, the worst it’s been for years. He paid around £134M for the club and put around £110M to lower the debts so he’s in for about £245M.
Among the Dubai investment companies interested in Newcastle were Zabeel Investments, who on Friday made an offer for Charlton Athletic.
A Dubai source told the Sunday Mirror today:
“I think Ashley could have sold Newcastle last week for £250m in two hours – I know of one definite buyer who would have done it then – but because of the global financial crisis, this week is looking different.”
That’s an interesting statement, if true, because Mike doesn’t have the time to wait around for a good offer, and If he thinks his popularity will improve through time, he should probably think again.
In our poll, with over 1280 votes in, 71% still want Mike to leave, so it’s hard to see things changing around too much, even though we think Joe Kinnear could well do a good job as interim manager.
Don’t be too greedy Mike, and please sell our club – as quickly as possible.