Mike Ashley To Sell Newcastle United – Shearer Deal Delayed


Rather sensational news is being reported tonight by the Sunday Times, and they say Mike Ashley is now ready to sell the Newcastle for £100M, and take a £150M bath since he bought the club almost two years ago.

mikeashley-2

Mike Ashley now ready to sell the club for £100M

We find this almost unbelievable – but we have to say it’s true – with Mike being quoted.

Ashley will appoint either Keith Harris, chairman of Seymour Pierce, or bankers at NM Rothschild this week with a mandate to make it a quick sale – but this seems like it’s a fire sale, and the players’ fire sale has yet to come.

In fact somebody still has to identify which players will be sold.

So we find this rather strange, but Mike also wants a quick sale– which will be necessary, because our first game in the Championship is in a short 2 months time.

The asking price is £34M less than Ashley paid for the club in June, 2007, and since then Mike has ploughed £110M into the Tyneside club.

Ashley told The Sunday Times:

“It has been catastrophic for everybody. I’ve lost my money and I’ve made terrible decisions. Now I want to sell it as soon as I can . . . advisers will be appointed shortly.”

We expect Ashley to find a buyer fairly quickly at that price, and if the new buyers give Alan some cash, the club could soon be back in the Premier League, and worth a lot more.

Freddy Shepherd has said he has investors in America and the Far East, but we really don’t want Freddy back running the club, so it’s a huge opportunity and a bargain for some big investor to step in quickly – and give Alan some money in the transfer market.

We suspect Mike was going to sell if the club were relegated, which is a surprise to us because of the £150M will lose, but this may be the best thing – but this sale has to move quickly,

Asked if he regretted his decision to buy the club two years ago, Ashley said:

“Of course I regret it. I never said I was an expert in football clubs. I was just a fan – although a very wealthy fan. But I’m not so wealthy now.”

“I put my money into it and I tried my best. But I accept my best was woefully short. I am genuinely sorry for everybody about what has happened.”

The news comes as talks to give Alan Shearer, the current care-taker manager, a full-time contract to rebuild Newcastle United were continuing this weekend, so this is one reason his appointment will be even further delayed.

Ashley also praised former interim manager Joe Kinnear, who took temporary charge of the club after Keegan quit last September, although Kevin says he was fired:

“I personally thought Joe put the club back on the right track. He took it from second bottom to 13th but things went against him,”

After Newcastle’s relegation from the Premier League last Sunday, the club faces a huge restructuring that is likely to lead to a clear-out of lots of  the first-team playing squad, just  to balance the books.

Some of that work has already been completed.

But this is both good news and bad news for the Newcastle club.

Good news because Ashley has realized he’s completely out of his depth with Newcastle and willing to lose 150M to get rid of the club.

Bad news because this will further delay the appointment of a new manager, and we don’t have a lot of time before pre -season starts – which is essentially 4 weeks on Monday.

We have no idea how long this sale will take, but the fact Mike is now asking one third of what he wanted last year shoudl bring in buyers, but exactly how long the sale will take we don’t know, but there will need to be due diligence done, by any potential buyer and that takes some time.

At £ 100M – we’ll have to check the piggy bank, because the club seems really cheap at that price and to use – it seems like a huge bargain for investors with some money to invest.

Keith Harris was in Newcastle last week, but denied it had anything to do with selling Newcastle, but that looks as if it was a ruse.

We even ridiculed the idea that Mike would sell the club for a £150M loss -but we out in right filed on this one.

Alan Shearer will not not be appointed until we know who the new owners are – and this could be just exactly what we don’t need right now – becasue preparations for next season will be even further  delayed – unless Alan gets on with things – but he can hardly do that when he is not even employed by the club.

And we have to suspect that a consortium has already bid for the club  £100M – and Ashley is willing to sell – but we have to hope this is the case, because otherwise it will take time, that we just haven’t got right noiw.

Maybe tomorrow, someone will come forward (Freddy Shepherd?)  to say they have already  bid for Newcastle United at £100M.

All of this could only happen at Newcastle – that’s for sure – and the soap opera continues, or so  it would appear. 

What’s that about getting some stability at the club? 🙁

Comments welcome.


220 comments so far

  • hitman

    May 30, 2009 at 10:16 PM

    Comment #1

    STARDUsT

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  • Turkish Magpie

    May 30, 2009 at 10:16 PM

    Comment #2

    This is good news 😀

    the 20mil transfer budget that is being widely rumoured could now become more realistic Ambani is being mentioned again! and we’re in the Championship FFS hows that for a big club?!

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  • Stuart79

    May 30, 2009 at 10:19 PM

    Comment #3

    Turkish

    Where you see Ambani?

    I reckon he would be a good shout!

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  • hitman

    May 30, 2009 at 10:19 PM

    Comment #4

    what ive heard for the past couple of days ,its the rothchilds and the bilderberg group.lol

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  • Turkish Magpie

    May 30, 2009 at 10:20 PM

    Comment #5

    SSN NOW!

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  • nufc-grimble

    May 30, 2009 at 10:20 PM

    Comment #6

    That freaking awesome news. now we can actually get our club into shape. hopfully big money buyers and thn we can work our way back to the prem.

    NXT SEASON PREDICTION: play-off final at the least !!!

    TOON TOON BARMY ARMY!!!!

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  • Toon_Factor

    May 30, 2009 at 10:25 PM

    Comment #7

    Cashleys lost a lot of his money- lets hope he becomes bankrupt!- No only joking. Its just one thing after another isnt it.

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  • Rangerman

    May 30, 2009 at 10:26 PM

    Comment #8

    Someone with plenty of money is what the club needs and not someone like Shepherd who will have to put the club back in debt just to buy it.

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  • komfort

    May 30, 2009 at 10:26 PM

    Comment #9

    good luck mike in your future ventures…i’ll miss ya like a hole in the heed..i hope ya end up on the streets.

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  • Stuart79

    May 30, 2009 at 10:26 PM

    Comment #10

    Who’s mentioned Anil Ambani?

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  • hitman

    May 30, 2009 at 10:27 PM

    Comment #11

    ashley has just selt us doon the river lads big time,stardust you still back ashley

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  • Geordos

    May 30, 2009 at 10:27 PM

    Comment #12

    I found this out earlier in the week . I do work with the club, and one of my clients told me that Derek Llambias had confirmed that the club would be sold in a matter of weeks…

    I think its Shepherd…

    Shearer looks likely to walk… we are in serious serious financial trouble

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  • BenjiToon

    May 30, 2009 at 10:28 PM

    Comment #13

    JUST POSTED THIS ON THE OTHER THREAD – BIT LONG, BUT JUST SOME THOUGHTS.

    Haven’t posted for months. Been mightily pissed at everything that was going on at the club. With about 10 games to go (just before Shearer came in) I already felt the decline was terminal – no fight, no passion, no match-winners, no tactics, no luck.

    Shearer lifted the place and the fans mood, that much is true. And it could have been a total miscalculation on his part if he didn’t come across so well. He’s looked and sounded a proper manager.

    The one person who has never looked the part is Ashley. Do we need to go over the mistakes, the miscommunication, the misguided loyalty to useless staff, the petty “club for sale” message, last year? The buck stops at the top, in any business. And that’s him.

    Can we believe The Sunday Times? Well I know a few of the journos there, in other sections than sport, and they are honest and thorough people. By and large they don’t print without confirmation…especially quotes. Still, I found it hard to believe at first. Not that he wants to sell – he was desperate to get rid for some time – but that he would take such a loss. My dad (fellow season ticket holder) has been saying Ashley would HAVE to sell for months now.

    Why? Well, we’re in a financial crisis and this is not his core business. If the club loses considerable equity (which it just has) then he hasn’t got capacity to ride out the storm till the crisis eases off. The rest of his business assets, already up-and-down, could be dragged further down as he raids savings to support the club.

    Yeah he’s got money but…without Prem revenues and serious cuts (players and elsewhere) he will need to put his own money into the club for at least a couple of years. On the off-chance that when we get back to the Prem he can actually sell for a profit. Imagine the scenario, we climb back up without any “star” players and with many pundits predicting we might go straight down again. Is that a club worth £25om, when Villa is only £180m, Spurs £170m? The reality is that it could take Ashley 5 or 6 years, and 10s of millions, to get us back to that price. In the meantime he’s spent more money, whilst his other businessess keep struggling.

    If I were him, I’d cut my loses and add £100m to the kitty for my sports shops….and, good riddence to him!

    We won’t get a billionaire to replace him, no chance now we’re in the Coca Cola. But we can get a consortium of millionaires, prepared to invest and restructure to save money and make the squad cheaper but more committed. That needs to be people who see the club as their primary activity, not a little bit on the side.

    Just one thing…pray its not Freddy!

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  • baro

    May 30, 2009 at 10:28 PM

    Comment #14

    where u guys see ambami ( he is top 5 richest people in the world )
    if he buys newcastle than man city would be nothing compared 2 him

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  • JonnyNufc

    May 30, 2009 at 10:28 PM

    Comment #15

    This is very very bad.

    He should have signed shearer up first.

    Lads it is now very likely all our preperation time will be fcked by weeks on weeks of ashley trying to sell the club.

    Hes screwing us again. If this takes to long it messes up everything, story coming out tomorrow in notw that shearers ready to walk over all the uncertainty.

    ffs

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  • hitman

    May 30, 2009 at 10:28 PM

    Comment #16

    stuart ambani,is going to buy liverpool m8

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  • Tom Mo.

    May 30, 2009 at 10:29 PM

    Comment #17

    Finally. But I still can’t help being livid towards Ashely. I mean, it seems like he was doing this on purpose, just to run us into the ground… whatever. Hopefully we get a decent owner this time around..

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  • BenjiToon

    May 30, 2009 at 10:30 PM

    Comment #18

    Geordos – you serious? Why would Shearer walk if new owners come in with money?

    And if it is Shepherd (please no!) then surely Al knows. They still talk, so I hear.

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  • Stuart79

    May 30, 2009 at 10:30 PM

    Comment #19

    Geordos // May 30, 2009 at 10:27 PM

    Shearer won’t walk if a new owner comes in with money!

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  • nufcben

    May 30, 2009 at 10:30 PM

    Comment #20

    wel this is good news if we get a buyer because if this drags out and we start the season with virtually no incoming players then were skrewed if , however this can be concluded quickly and we build a team wich is capable of dominating the championship then this is probably the best thing that hapend to the club since sir bob took over

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  • baro

    May 30, 2009 at 10:31 PM

    Comment #21
  • batty

    May 30, 2009 at 10:31 PM

    Comment #22

    hope this is true

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  • mylestoon

    May 30, 2009 at 10:31 PM

    Comment #23

    Who is Ambani? wealthy? haha

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  • Turkish Magpie

    May 30, 2009 at 10:32 PM

    Comment #24

    UH OH!

    David Craig is was goin on about a very important news article in the NOTW concerning Newcastle and Alan Shearer, he stressed it was very well informed and said It looks like Shearer may leave due to the situation, other news is that he said Shearer and Dowie have both been offered 4 year contracts with the club

    Is this good news or not?

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  • JonnyNufc

    May 30, 2009 at 10:32 PM

    Comment #25

    ON SSN

    NOTW tomorrow – NUFC have until Friday to reduce overdraft by 50%

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  • komfort

    May 30, 2009 at 10:32 PM

    Comment #26

    we need a winner like batty to take control..

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  • BenjiToon

    May 30, 2009 at 10:32 PM

    Comment #27

    I’ll say again – The Sunday Times is reliable. The Mail is running it too…makes sense.

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  • Stuart79

    May 30, 2009 at 10:32 PM

    Comment #28

    The bank has give NUFC until Fri to slash it’s overdraft by 50%!

    Thought Ashley had paid our debt off and we didn’t borrow money!

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  • komfort

    May 30, 2009 at 10:34 PM

    Comment #29

    shake the tree and a big fat tramp faaals oot..

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  • BenjiToon

    May 30, 2009 at 10:34 PM

    Comment #30

    What overdraft? Thought Ashley had invested £100m of his “own” money? Is it all unravelling now?

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  • Geordos

    May 30, 2009 at 10:35 PM

    Comment #31

    Apparently (and this is not confirmed, more a rumour around the club) the reason for the delay in getting Shearer signed is that the consortium who are going to buy the club dont want shearer

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  • BenjiToon

    May 30, 2009 at 10:36 PM

    Comment #32

    On Setanta now too.

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  • Geordos

    May 30, 2009 at 10:36 PM

    Comment #33

    The overdraft story is true… Barclays are pulling in the overdraft

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  • BenjiToon

    May 30, 2009 at 10:37 PM

    Comment #34

    Geordos – don’t want Shearer? That surely rules out Freddy’s mob. Didn’t he say previously that he thought Shearer should have been given the job when Kinnear got it?

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  • Stuart79

    May 30, 2009 at 10:37 PM

    Comment #35

    The rumour mill is well and truly on the go now!

    I just hope we get a buyer and soon!

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  • mylestoon

    May 30, 2009 at 10:38 PM

    Comment #36

    Geordos..

    any indication of how wealthy and stable the consortium are?

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  • BenjiToon

    May 30, 2009 at 10:38 PM

    Comment #37

    Geordos – you know how much we’re talking on the overdraft?

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  • Stuart79

    May 30, 2009 at 10:38 PM

    Comment #38

    Geordos // May 30, 2009 at 10:36 PM

    I was under the impression that Ashley had paid the overdraft off ect….

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  • JonnyNufc

    May 30, 2009 at 10:39 PM

    Comment #39

    Ashley has to pay it for us to avoid potentially being put into adminstration and he will, he has to or he’ll lose even more money.

    Problem is. most of his money is supposedly “tied up in other areas”.

    Others are suggesting thats why he wants to sell up so quickly, let the overdraft become someone elses problem so it doesnt effect his assets.

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  • hitman

    May 30, 2009 at 10:39 PM

    Comment #40

    where fked lads,ashley the cockneee tw@t has wiped us oot

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