US Buyers In For Newcastle – Magpies Ship Adrift In Ocean

Alan Shearer has been in talks with Ashley over the past week in an effort to thrash out a contract, but the Telegraph this morning are saying that Shearer will need to cut his demands if he is to became the next permanent manager at Newcastle.


Alan Shearer – wants £ 2M a year – is the club now completely rudderless

The Telegraph is reporting those talks are now being held in abeyance, they’ve essentially ended, because Ashley is unwilling to match Shearer’s £2M-a-year salary demand.

Ashley’s decision to attempt to get a quick sale has left Shearer in limbo and, much worse than that – it seems he’s left the club in limbo – but what does he care – he just seems to want to sell and leave, and he’s not too bothered about Newcastle -as we’ve found out to our cost and demise, these last two years.

The complete lack of responsibility for the Newcastle club, being shown by Ashley right now, leaves an awful  lot to be desired – at least for the good of the Newcastle United club – and that’s all we care about.

So until a new buyer is brought in it seems we will again have no manager – incontentance personified from this man again – how did he ever become a Billionaire with stupid actions like these, is a complete mystery to us.

And today the NOTW says a new buyer could be installed within a month – so if that is true we probably shouldn’t even start in the Championship in early August – we should just  wave the white flag and be demoted to the next league down – we have no idea what that is – and don’t want to know either.

It’s like what exactly is in black pudding- we just don’t want to know. 😀

Mike Ashley seems just hopeless – utterly hopeless – and though we don’t usually agree with protests – this man may need to be forced to get somebody working on club business this week – before too much precious time has gone by. Where’s the NUSC – we may need them.

Do these guys in charge of Newcastle really know how to run a business – you could have fooled us – easily.   This is a fairly small £100M business, and some of us have successfully ran £1B businesses – we wonder what exactly Mike been smoking last week, that has impaired his thinking, to come up with all of the nonsense on Saturday night?

A source close to Ashley said last night:

“Alan needs to re-evaluate what he was asking for, but the chances of him getting the job aren’t as great as they first were. Everything is in limbo. Mike’s decision to sell has changed everything.”

Ashley has approached Keith Harris of investment bank Seymour Pearce, again, as he tries to get a quick sale for the club.

He apparently spoke to Harris on Friday about leading the search for a buyer,  and the Telegraph is saying terms may even be agreed this week. Well – that would be good, because we are all in limbo until a new buyer is identified.

Ashley will apparently settle for as little as £90M, if he is to persuade any investor to take it off his hands, and will of course incur a huge loss in the process.

Ashley paid about £134 million for the club in May 2007 and has since invested £115M more, and of that £100 million went to reduce the debt load.

But as we had suspected , that payment by Mike is classed as an interest-free loan to the club, and is repayable to Ashley on demand, and any any investor would need to foot the bill for that – and write it off as a business loss.

Ashley asked Harris to find him a buyer last year after becoming disillusioned with supporter opposition to his tenure at the club.

Every single day that passes, this man seems to epitomize and embrace incompetency – and he’s making George W  Bush, look like a wizard. Whoops – no politics on this site, please.

Harris apparently identified an American buyer willing to pay £180M, just before Christmas, but that deal fell through when the purchaser suffered big losses, due to the disgraceful Bernie Madoff fraud and scandal.

Two things that have vastly improved recently, as far as Americans are concerned:

  • The Newcastle price has more than halved
  • The dollar has strengthened against the UK pound from $2/£ to about $1.55/£.

That all makes Newcastle a very attractive purchase to American buyers, and we’d be surprised if a few of them were not in quickly for the club – this week.

Comments welcome.

88 comments so far

  • DJG

    Jun 1, 2009 at 12:09 AM

    Comment #1

    Find someone with a huge oil empire or something.

  • sirjasontoon

    Jun 1, 2009 at 12:27 AM

    Comment #2

    Oil and Camel Owner please sign here.

  • Tom_Toon

    Jun 1, 2009 at 12:32 AM

    Comment #3

    £2mil a year even for the best championship manager with 15 years experience at a top level is a lot, but for Shearer it is completely idiot.

    Agree with MA’s morals on this.

  • DJG

    Jun 1, 2009 at 12:33 AM

    Comment #4

    ‘Ashley paid about £134 million for the club in May 2007 and has since invested £115M more, and of that £100 million went to reduce the debt load.’

    How do we really know he has invested £115M more Ed. Have you seen the club’s financal papers because I haven’t. The whole thing stinks a bit if you ask me.

  • Rangerman

    Jun 1, 2009 at 12:40 AM

    Comment #5

    We know he has because the accounts say the club owe it to the business that he set up to buy the club.

  • Girth

    Jun 1, 2009 at 12:43 AM

    Comment #6

    Yeah, rejoice….
    We shall be sold within a month…
    Forget that pre season starts in 6 weeks
    That sarcasm for all those with out any crack!!

  • DJG

    Jun 1, 2009 at 12:43 AM

    Comment #7

    ‘Two parties interested in buying NUFC’

    ‘Paul Scholes on Newcastle’s radar’

    Ah Sunday, the day of fiction. I wonder what exciting tales will be whipped up next week.

  • sirjasontoon

    Jun 1, 2009 at 12:45 AM

    Comment #8

    Can you send us a link to the accounts please rangerman?

  • Rangerman

    Jun 1, 2009 at 12:46 AM

    Comment #9

    I remember Harris talking about the American’s that were interested a while back, there was 2 of them who were interested in buying it together.

  • Rangerman

    Jun 1, 2009 at 12:51 AM

    Comment #10

    I haven’t got them on my computer anymore, if you send the bloke at nufc finances an email he will send them you.

  • DJG

    Jun 1, 2009 at 12:52 AM

    Comment #11


    He only said it to con nieve young lads into thinking he gave a monkeys about ‘our club’. If he really invested £100M into the club just like that then why would he make money on the playing staff. Doesn’t add up does it.

  • DJG

    Jun 1, 2009 at 12:54 AM

    Comment #12

    I mean £100M is a suspiciously nice round figure if you ask me!

  • Rangerman

    Jun 1, 2009 at 1:02 AM

    Comment #13

    He only said it to con nieve young lads into thinking he gave a monkeys about ‘our club’. If he really invested £100M into the club just like that then why would he make money on the playing staff. Doesn’t add up does it.


    Please tell me you’re not serious?

    It a business who’s accounts are put together by Ernst & Young and posted at companies house, you can’t “make stuff up to con young lads” asd everything is regulated.

  • ObaFan2

    Jun 1, 2009 at 1:14 AM

    Comment #14

    “incontentance personified from this man again -” 😆 obviously you mean incontinence!

    All we can prey for is a speedy conclusion to this mess and hope whoever does buy NUFC will be like a Randy Learner type and not George Gillett and Tom Hicks types.

    and please no more gamblers as owners of our club.

  • Spuggy

    Jun 1, 2009 at 1:15 AM

    Comment #15

    we need a buyer quick.

  • stjames

    Jun 1, 2009 at 1:25 AM

    Comment #16

    The club is effectively in a free fall now. The value will be diminishing by the week and our chances for next year are getting darker every day we spend in limbo. What is this man MA thinking? Has he lost all sense of reality? Has he gone totally nuts? 🙁

  • Patto 76

    Jun 1, 2009 at 1:29 AM

    Comment #17

    I woke up this morning and saw the news and instantly thought S**t. Then saw who was reporting the news. Thought ahh, just usual media hype.

    Now I realise my gut feeling is true that in a time that we need to appoint a manager and start building a squad ready for the start of next season in a very hard and physical division, we have an owner selling the club.

    Not a good move mike, especially at this time. There is no way a club can be sold and new manager appointed and players bought and sold in the short time we have. Never been done, never will.

    As a lifelong fan I am torn both ways, I have been a bit weary about most decisions that ashley has made. I was against keegan coming back, just thought it was mike trying to buy the fans with offers he could not supply.

    But (slate me now) I think getting shearer back for the last 8 games was the best thing ashley did since he has been in charge.

    Not saying shearer is the be all and end all but I did see a change in a few first team players since he took charge, no doubt about it. A couple of players even looked like they wanted to play football for us.

    But in the players who did not perform, I hope that managers of prospective clubs that you wish to play for have copies of all your last games for us. If they watched them I would hope they would think “If my club were in a state of relagation, I would expect 110%, they show 10% so not good enough for me”.

  • The Original Todd

    Jun 1, 2009 at 2:25 AM

    Comment #18

    I’d like to see Shearer stay on, but if this is true – 2 million is crazy. This club already has enough overpaid players. It doesn’t need to do the same to a manager, too.

    Like many here, I can’t believe relegation wasn’t planned for. It was obviously a strong possibility. Now we’re completely in the lurch.

  • joshablaze

    Jun 1, 2009 at 3:22 AM

    Comment #19

    I’m with ashley on this one, no owner in their right mind is gonna offer alan shearer 2million when the club is in dire straits, he has not proven anything.

    Alan was great when he played for newcastle but he has nothing to prove that he deserves the 2 million as a manager,if he really wants to save Newcastle,he should wake the f*ck up,stop demanding ridiculous wages, and get on with it!

    Personally not in favor of shearer as manager, he puts his faith too much in has been players like nicky butt,definitely don’t wanna see butt in the line-up next season,experience or not we will do far better with younger and hungrier players thats for sure

  • davis_toons

    Jun 1, 2009 at 4:26 AM

    Comment #20

    If the news was true i think AS should reconsider taking lesses. Cause

    1) He is still new and worst of all he hasnt proved anything except winning 1 out of 8 games in charge.

    2) Doesnt have the big new manager impact to push the team to win the games like some other managers does when appointed.

    3) If he really wanted that kind of money he should have really prove himself first. Meaning a contract clus saying, promotion he will get 2million per year, for finishing top half in BPL 3 million or so…

    or clus saying the club have to repay / backpay whatever own money to him to make up 2 million per year if they get promoted in a year.

    I think AS money is the problem cause Ashley is selling the club and not wanted to heavy burden.

    And i think 2 million can get a better coach. To change Newcastle Utd.

    Who’s else is interested in NUFC job?

    Is steve bruce interested in Newcastle Job?


    Martin Jol i have never doubt his ability, i just felt that he just couldn’t workout with Spurs to get them winnning the games. But did very well with the cup run remenber. They won something right. I think he was just unlcky.

    I personally would like him to take over and manage Newcastle if AS somehoe got rejected.


  • davis_toons

    Jun 1, 2009 at 4:36 AM

    Comment #21

    I think there’s not much we can do now maybe we can only get our “intern manager” back and offer him another 6 mths contract and will see…

    Newcastle is DOOM unless a good manager is appointed + a rich.

  • Toon_Ksk (Huh? u mean David Craig is real?)

    Jun 1, 2009 at 5:25 AM

    Comment #22

    davis, Martin Jol has signed for Ajax.

    Most importantly, the things I would like to point out before you start dreaming of Ancelotti/Jol class of manager. We are now a Championship team. We were relegation strugglers for the past two seasons. We are in debt, and we still have to cut the wage bill.

    As for Steve Bruce, we can’t afford to pay his transfer fee. Shearer asks for too much money as a rookie manager. Right now, I think I’ll be contented to have JK or Roeder as manager. This club is in shambles, nobody like this club and nobody in the right mind would join this club not knowing what bad things will happen next.

    Damn, I wonder whether I will live long enough to see Newcastle win something?

  • tooneskimo

    Jun 1, 2009 at 6:03 AM

    Comment #23

    probably not……

  • Nick D

    Jun 1, 2009 at 6:05 AM

    Comment #24

    So once again a totally misleading title to this thread – just wild groundless speculation. you could have at least put a question mark after it.

    Shearer used to have the highest paid player clause in his contract so the fact that 150 people have just lost their jobs means nothing to him. I thought the club rather than further obscene amounts of money for an already very rich, unproven at any level manager was more important to him. Some people don’t change obviously.

  • tooneskimo

    Jun 1, 2009 at 6:05 AM

    Comment #25

    Sheriff Shepherd and his deputies are riding into Toon…..(cue tumbleweed)

  • tooneskimo

    Jun 1, 2009 at 6:11 AM

    Comment #26

    Shearer is a tight arse, when him and his mates turn up at golf course they try and get on for free because of who he is/was, like you say if he cared about the club he’d do it for a lot less…he’s hardly Fergie or Wenger.

  • tooneskimo

    Jun 1, 2009 at 6:13 AM

    Comment #27

    Quick look on fleabay then off to work…

  • Oleg G

    Jun 1, 2009 at 6:56 AM

    Comment #28

    I don’t agree with the numbers.

    He bought for 134 M
    “closed” the bill with another 100M

    what other money he put in the club?
    He got alot of money back.
    TV, Tickets, Comercials, Sponsers and others that we don’t know how to count.

    Spend ZERO of transfers. ever got a + right ?!

    Wages – well, the TV, Tickers, comercials, sponsers etc covered that. and even more.

    So he is taking back the 100 M loan that he gave to the club. and selling for 34-44 M less (if in the end he sells for 90-100 M)

    thats 17-22 M Loss a year for 2 years. not so bad. Economical crysis, no ?!

    Thats a very small loss compare to what he did to the club.

    I hated him after the first transfer window.
    I hate him now. Just get us sold already !

  • Oleg G

    Jun 1, 2009 at 6:59 AM

    Comment #29

    If he wanted 2M a year. thats 40K a week.
    If he wanted 4M like some people say. thats 80K a week !?!?!?!

  • Oleg G

    Jun 1, 2009 at 7:12 AM

    Comment #30

    To make my point even stronger.

    The Club made 100M in 2008

    Wages were about 70M
    Compensations to Managers
    And some other small stuff.
    Transfers is – ZERO spend what we earned.

    Brings Us to +\- the same number. 100M
    So Mike didn’t spend nothing.

    We have a debt of 150M which is 100M of Mike.

    There are % of the debt I guess which is a couple more millions.

    But in total – Mike didn’t loose too much compare to our Club that we all love so much.

    So F*** OFF Mike with your Boo Boo Boo…
    You are only some for a couple of millions that will be lost in the sell.

  • geordie deb

    Jun 1, 2009 at 7:27 AM

    Comment #31

    If it is true and Shearer is holding out for a minimum £2m per year or more (some quotes in the media claiming £12m for 4 year contract), as an unproven rookie manager, I think he needs to go and have a reality check. He should be thankful that he is being given an opportunity to manage any team in that division let alone his home town club.

  • Sawbuck

    Jun 1, 2009 at 7:31 AM

    Comment #32

    I can’t see a quick sale at all. Even taking the $ into account,

    1)US businesses are in limbo themselves waiting for a recovery which still looks months off

    2) We are damaged goods with our reputation and credibility blown into fragments

  • Hugh de Payen

    Jun 1, 2009 at 7:38 AM

    Comment #33

    I think Ashley will appoint an interim manager to get the pre-season planning started.

    It’s in his own best interests – a club that’s prepared for the season and has cut the wage bill will be more attractive to investors.

    As to Shearer’s salary demands (if they’re true and so far it has just come from ‘sources close to …’), it does seem a lot.

    Actually I don’t know what the going rate is, but he is unproven and we’re not in the PL any more.

    Of course it’s worth every penny if he gets us promoted but we don’t know if he can do that yet without any management history to judge him on.

    If nobody has been appointed as interim manager (at least) by the end of this week I’ll start to worry.

  • Hugh de Payen

    Jun 1, 2009 at 7:46 AM

    Comment #34

    If it was me, I’d offer Shearer something like £1.5m a year with £1m bonus if he gets us promoted.

    Maybe not those exact figures but I’d make it performance-related like that.

    If he gets us promoted I’d increase his salary but still make if performance-related based on top half finish, top 6 finish etc.

  • Hugh de Payen

    Jun 1, 2009 at 7:48 AM

    Comment #35

    From The Times:

    “Shearer is effectively working for nothing after the expiration of his eight-match contract, but expects to hear this week whether his plans for the wholesale restructuring of Newcastle have been approved by Barclays Bank, which has provided Newcastle with a £40 million working capital facility. With costs being slashed in the wake of demotion, about 120 of the club’s employees are likely to lose their jobs. ”

  • lesh

    Jun 1, 2009 at 8:38 AM

    Comment #36

    An interesting article from George Caukin who appears to have his feet on the ground and a little more than insight into the shennanigans at SJP.

    Until reading that article, I must say I was of the opinion that the reports of Shearer’s [salary] demands were no more than Ashley negotiating in public and painting Al as the greedy party. Were that to be the case, then there’d be no chance of any working relationship between Shearer and Ashley. So, forget Shearer as Manager!!

    However and on closer examination of Caulkin’s article, why do I get the impression that Barclay’s are reviewing Shearer’s proposals for a compete financial restrusturing? Seems odd and I’d have expected any such proposals to come form the Ashley camp!

    I may have misread and/ or mis-interpreted the article and am open to correction.

    If, though, they are Shearer’s proposals, what’s the possibility that he’s acting as the front man undertaking preliminary soundings out and possibly fronting a consortium bid – hence Ashley’s desire for a quick sale?

    Now that could be interesting, any thoughts?

  • reetpetite

    Jun 1, 2009 at 8:46 AM

    Comment #37

    Only a matter of time before you have your own sheikh billionaire in charge. Then you will be able to compete with chelsea , portsmouth, man city and united at the top. A bloke on the man city forum(bluemoon) is saying that tevez is a done deal and they are offering barry 100k a week. How depressing for football fans of proper teams when mickey mouse clubs like man city and portsmouth can offer better wages than the likes of arsenal and liverpool.

    I pray spurs never go down the oil baron owner route. Sky tv have ruined football!

  • lesh

    Jun 1, 2009 at 8:47 AM

    Comment #38

    Good post from David Craig (Davy Craig // May 31, 2009 at 10:29 PM) re previous article.

    Makes sense and yes, Geordie Deb, we msut keep a sense of perspective.

    But, I don’t believe Ashley’d be happy to take a near £150m hit and would be keen to offload now so’s not to be hit by the Revenue next time around.

    If the [due diligence] data room’s organised, then I do believe a quick sale’s on the cards.

    Fingers crossed for speedy resolution to the mess the club’s in.

  • Stuart79

    Jun 1, 2009 at 8:49 AM

    Comment #39

    Sawbuck // Jun 1, 2009 at 7:31 AM

    I can’t see a quick sale at all. Even taking the $ into account,

    1)US businesses are in limbo themselves waiting for a recovery which still looks months off

    2) We are damaged goods with our reputation and credibility blown into fragments

    Potential buyers couldn’t give a flying a fck if were damaged goods- More damaged the better for them. It means were cheaper.

    They will only be looking at how much it will cost and much they can make in the long term.

    The good news for us is that for them to make any money we have to be successful and for that they need to invest.

  • estechco

    Jun 1, 2009 at 8:53 AM

    Comment #40

    There’s an unbelieveable quote in todays Journal (assuming it’s true)…

    “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. 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 guy is a complete cretin! Get him out!


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