There are some concerns now being addressed that Newcastle need a buyer quickly as time is already running out – since the club has so much to accomplish over the summer.
Mike Ashley – cannot stop things moving forward until Newcastle sold
Professor of accounting at Newcastle Business School, Richard Slack, has been talking to the Newcastle Evening Chronicle today and says a summer of non-action and uncertainty can be damaging for the club:
“There are two key things for a club in this period.” “The first is season ticket sales. The club do have people on three-year deals, but that is a limited number.”
“In terms of their relegation it becomes very problematic. The massive uncertainty that surrounds the ownership, and particularly the manager, is going to affect the sales, and this is even more important because of the reduction in television money the club is facing.”
“The other thing is the management of the playing squad. Normally a manager would be using the summer months to shape his squad for the following season.”
“With the club having no-one in place it is very difficult to make decisions on players they want to leave and those that the club may want to sign.”
Football analyst Vinay Bedi at stockbroker Brewin Dolphin in Newcastle, has said asoem deal can indeed be done quickly:
“I have known some takeovers take less than 24 hours.” “But you feel that no-one will be buying the club without carrying out due diligence, and that takes two or three weeks,”
Both analysts agreed that the short timescale put tremendous pressure on Ashley to get a deal done, but Mike has already said he’s willing to sell Newcastle in a fire- sale – so he already knows that – and presumably is trying to sell quickly
But Mr Bedi added that if there was some trust between the two parties, progress could be made while the deal and due diligence was going through.
“It all comes down to relations between the two parties.” “If he trusts them Ashley could let them take over the running of the club before the deal is complete, but he is relying on the deal being done.”
There has to be some Plan B by Mike Ashley – before it becomes too late – and we’ll probably get another interim manager in again – how many of those have we had last season?
But we cannot allow the stupidity that went on last season continue and impinge on our preparations for next season, and that has to be a huge concern with things right now.
It would be good if Mike got Alan and his team in, to get some real work done before the start of next season, while Mike continues to work on the financials of the club and continues to try to sell it.
But stopping everything moving forward at the club, at this critical period, until the club is sold, doesn’t seem very bright to us.