The Telegraph is reporting late today that the future of Newcastle United should become a lot clearer tomorrow.
Alan Shearer – still waiting to take over his home-town club
That’s when advisers of the Newcastle United owner, Mike Ashley, are scheduled to meet with a group of local businessmen, reportedly backed by investors from somewhere in the Middle East, although the Telegraph is reporting there is some doubt about that now.
Ashley has said he wants to sell the club quickly, and is willing to sell at around £100M, and we understand there are now four different potential buyers who are now interested in going through the books of the club.
It was reported this morning that one of these is a local consortium of businessmen, said to be backed by funding from the Middle East.
But whoever takes over Newcastle United will immediately need to reduce the £74M wage bill at the club, and time is of the essence, because the club has already been in gridlock for a full two weeks following relegation.
There is also now some doubt as to whether that financial backing from Dubai still exists for the local businessmen, but hopefully we should know more in the next couple of days.
It may well be, as one of our readers has pointed out, that the Dubai backing fell through, but they still have backing from somewhere in the Middle East.
We cannot imagine they’d go to Mike without the financial backing to come up with the £100M and more for investment – needed to buy Newcastle United. And now is the time to move, becasewue nothing is happening at the cl;ub, and many rooms have burned since Alan made the statement about “every day that goes by another room burns.”
Sunday’s meeting should determine whether these local investors, whose identity has not been disclosed, have sufficient funds to complete a takeover. We don’t know at this point if a certain Freddy Shepherd is involved with the consortium.
In the mean-time Shearer must have been told there would be no decision on his future over the weekend, and he took off for a few days vacation in Portugal, and will return on Monday.
It would be good if something, even a little bit firm, was in place soon, at least to allow Alan to go ahead with the plans that he and Iain Dowie presented to owner Mike Ashley about a week ago.
But these types of deals are hardly ever straight forward, but on the other hand we cannot have the club in gridlock for too much longer.
As we said, we would hope that some agreement could be reached tomorrow, to at least bring Alan in and get him and his staff busy doing real work, but that in all honesty doesn’t seem too likely.
But we live in hope – as always these days.