Mike Ashley Trying To Get Out Of Toon Quickly

Newcastle United will be sold to the first buyer who meets the selling price of  £100M.


Mike Ashley – wants out of Newcastle quickly

Heaven forbid that Mike Ashley would sell to the buyer who would be best for the Newcastle club.

The Evening Chronicle says there are only three or four of those responses can be deemed feasible, and rumor has it that they have summarily dismissed the 6,000 bids from Sunderland supporters that flooded the admin email ID yesterday. 😀

If putting the Newcastle club up for sale and requesting offers by email wasn’t so ridiculous it would be funny – but we think they really meant it – talk about incompetence and being completely out of touch.

Newcastle’s Managing Director Derek Llambias was back at work today – but there were no meeting planned with Alan Shearer, as he remains on the sidelines waiting to see who buys the club.

We don’t think Mike will appoint anybody until a new owner is identified and Ashley may now try to get that owner identified as quickly as he can.

A source close to Derek Llambias said today:

“They aren’t looking for an auction.” “This is simply going to be a case of whoever can come up with the right bid first.”

“So far there is thought to be interest from a couple of groups and they are able to check the accounts of the club by going through Seymour Pierce.”

“Where they can go through the books via their own personal account.”

Let’s hope there is some significant progress this week – because the club has lots to do before the season starts, and maybe if all groups want Shearer as manager – he could start putting thew club back in business very soon – hope so anyway.

Comments welcome.

13 comments so far

  • lesh

    Jun 9, 2009 at 2:19 PM

    Comment #1

    Taxi’s on its way!

  • Toon Graeme

    Jun 9, 2009 at 2:22 PM

    Comment #2

    Lesh – I would open the door and squeeze the fat t*at in it and shuve Llambias in the boot!!!


  • Toon Graeme

    Jun 9, 2009 at 2:25 PM

    Comment #3

    Anyone with a business brain able to clarify how quickly this could (in potential) be done from today to money exchanging hands?

    I suppose there will be some negotiation on both sides.

    I still think £100mil is a tad steep for a championship team.

  • ObaFan2

    Jun 9, 2009 at 2:27 PM

    Comment #4

    “TAXI FOR ******”

    Sorry still can’t bring myself to say the fat ****’* name!

  • ObaFan2

    Jun 9, 2009 at 2:29 PM

    Comment #5

    TG, for £100m you’re getting a 52K seater stadium, all the training facilities etc, a recognised brand name throughout the world and then the squad (yes some are still worth a few quid).

  • simon376@work

    Jun 9, 2009 at 2:29 PM

    Comment #6


    Last time I was involved with a company doing Due Dilligence, it took six weeks. But if we are debt free and that would become apparent as they go through the books, could be done in half the time

  • bettyswollocks

    Jun 9, 2009 at 2:30 PM

    Comment #7

    Toon Graeme – I doubt anyone could tell you how long – we are talking about dealing with Ashley. Just got to keep everything crossed andd hope we are talking in days rather than weeks.

    With regards the price I would think a teer deal will be struck in the end. So much up front with the remainder on condition we get promoted back up within a set time frame (e.g. 2-3 years).

  • Toon Graeme

    Jun 9, 2009 at 2:38 PM

    Comment #8

    Sorry I missed off the last part of my sentence as was flicking between work and blog and got distracted.

    I still think £100mil is a tad steep for a championship team. Given that we still have numerous players on high wages and if any potential buyers might be put of because of this.

    Just thinking out loud.

    Thanks people.

  • Micky Toon

    Jun 9, 2009 at 2:42 PM

    Comment #9

    I’m not sure who this Hugh Diligence everyone keeps mentioning, is he Ashley’s accountant?

    I know if I were dealing with Ashley I’d not take anything at face value and really take my time over this. Can’t see it happening quickly. The deal may be done in principle, but I think the exchange could take a lot longer.

  • Bmore

    Jun 9, 2009 at 4:08 PM

    Comment #10

    If Mike is painting the correct picture, then perhaps the potential buyer could invest an element of cash before the DD work is complete -on the condition if things don’t work out, Mike repays the money. Just like a loan. Mike can then install Alan, and let him start the mammoth task of rebuild the club with a few million.

    This is what happened to Man City last August in twhen they bought SWP and Kompany, before there investment.

    This of course all depends upon an element of trust between the two parties.

  • Angryman the Angry fan

    Jun 9, 2009 at 4:30 PM

    Comment #11

    Would you trust Cashley>????

  • ArtyH

    Jun 9, 2009 at 4:32 PM

    Comment #12

    Lets face it , at this moment in time ANYBODY with the money would be an improvement over the current incompetent idiots who are running the show. No one could have discredited NUFC as much as these lot, its a disgrace. Heaven help us and get shot of them as soon as!!!!

  • Mags

    Jun 9, 2009 at 4:38 PM

    Comment #13

    Toon Graeme (2) – can I have a ringside seat. Ha Ha Ha Ha


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