There seems to be more truth to the news that local businessman Barry Moat has bid £100M for the Newcastle Club
Barry Moat with Derek LLambias
Further to out story earlier this morning, both the BBC and now the local Evening Chronicle today are reporting that Barry is locked in talks with Mike Ashley in London, and a deal could possibly be worked out as early as Saturday.
The Chronicle last night had played down the deal, but is now reporting a deal could be imminent, so it’s all a little confusing.
Of course Barry is a good acquaintance of Alan Shearer and will bring Alan in to manage the club if he can secure the deal.
It is thought that Barry is putting £50M of his own money into the club and has secured a £50M loan, presumably from backers in the US, to meet Mike’s asking price.
Exactly what that leaves over for new players is a concern, but where’s there’s a will there’s a way, and if he can get the club from Ashley, install Shearer quickly as the new manager, then that has to be good news for Newcastle fans.
Reports are claiming that negotiations are continuing today in London, with the process of due diligence having already been completed.
Mr Moat’s secretary has told the Evening Chronicle today at Lugano Property Group headquarters in Melbourne Street, Newcastle, that he was unavailable for comment because he was in London.
The Chronicle itself is trying to work out how much truth there is in the story, since the club had told them not to put too much credence into the bid yesterday.
But that may be changing it seems.
Moat has significant property holdings and a development portfolio, and he is a director of several telecoms companies offering cheap internet-based call services.
Mr Moat has previously invested substantial sums of cash into the club’s academy. At the time Barry said:
“As a lifelong Newcastle fan, I am delighted to support the club’s new initiatives of investing in the academy and enabling more young fans in the region to see their heroes play.”
“It’s vital for a club like Newcastle to make sure it recruits the best young footballers at an early age and encourages them to develop their full potential.”
Mr Moat, founder and director of workplace retail giant Premier Direct, renewed his executive box at the club for five seasons in 2008.
He was also a lead member of the committee who organized Alan Shearer’s testimonial.
Barry has been in Ashley’s company on many occasions, including the trip to the Stadium of Light to watch the derby match against Sunderland.
The Chronicle is reporting that he paid £20M in 2007, for the 2,500 acre Dissington Estate, near Ponteland, Northumberland – a huge swathe of land that borders Darras Hall, where Alan Shearer and a number of wealthy Tynesiders live.
Mr Moat lives in Jesmond, Newcastle and quite close to former chairman Freddy Shepherd, and very close to where my wife and I stayed when we visited my wife’s sister a few weeks back.
We don’t know if this story is true, but we’ll be praying it is – starting right now – that Barry Moat can indeed secure the club from Mike Ashley.
That has to be great news for the club, the City of Newcastle, the faithful Newcastle fans and the Newcastle players too. Apart from Joey Barton that is. 😀
Let’s hope and pray this news is true!
Maybe there is a Santa Claus after all, and would you believe he lives in Newcastle?
Comments welcome.
89 comments so far
lesh
Aug 6, 2009 at 4:48 PM
Comment #81I hope that Freddy S aint in on Moat’s bid as that would really put MA’s back up and he’d sure as hell reject such a bid. So best play that down a bit eh?
However, should an investor come alon who wants to buy in, then Moat might just welcome some more funds!
Fingers crossed, nay everything crossed….. ouch!
OHurley
Aug 6, 2009 at 4:51 PM
Comment #82cam_toon-
glad to help out, m8:)
magforlife
Aug 6, 2009 at 4:57 PM
Comment #83Just saw an appropriate line on teamtalk nufc page-
“If Newcastle fans see light at the end of the tunnel you can bet it will be an oncoming express train!”
magpie6699
Aug 6, 2009 at 4:58 PM
Comment #84Please, not more false hopes. It’s just not fair – I must have done something really horrible to deserve this – just can’t think what.
I don’t care if it’s Harry Stoat backed by the bank of the Ku Klux Klan who want to buy his club – I just want some STABILITY so we can enjoy a bit of footy-watching and Toon-supporting. AAGH!
OHurley
Aug 6, 2009 at 5:05 PM
Comment #85Magforlife & Magpie6699-
LOL so true.
Lesh- any relation to Phil Lesh?
Nick D
Aug 6, 2009 at 6:15 PM
Comment #86Magpie neil
The debt would still be there and at least with ashley it’s an interest free laon to cover it (allegedly)
Geordie Jayne
Aug 6, 2009 at 8:01 PM
Comment #87Malcolm McDonald has just said the so called deal with Barry Moat ain’t going to happen, he said he has asked Barry and he told him it aint gonna happend just another made up story.
Malcolm said this on Radio
d005uk
Aug 7, 2009 at 6:26 AM
Comment #88moat and sheppard are not “mates” far from it. That is a fact, there’s 3 interested parties one is sheppard’s lot (although there is more than a reluctance to sell to them for obvious reasons) one party that where looking promising but have dropped out & the final one their initial valuation falls short of the asking price. I was told last week that this whole saga will be sorted by the end of this week. So fingers crossed!
Sorry DC you’re very wrong about moat & sheppard – I know that for a fact mate!
lesh
Aug 7, 2009 at 9:30 AM
Comment #89No, Ohurley @85, I’m not related to Phil Lesh but was a great fan of the Ozarks and am a great fan if the Dead. Well spotted!
When will this tedious and life-sapping saga come to an end….. please, if there is a god around, make it happen…. soon!