Reports That Moat Has Got The Backing Of Barclays


There is news in the Telegraph this morning that suggests that Barry Moat has been successful in getting his loan at Barclays Bank to help buy Newcastle United.

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Barry Moat – Barclays loan approved?


Moat is trying to complete a deal before the end of the week so that his choice as manager, Alan Shearer, will have some time to buy or sell players before the transfer window closes at the end of August.

The Telegraph is reporting that Moat is understood to have secured the financing required to complete the deal from Barclays Bank.

However, the deal will only now happen if Ashley is now willing to accept his offer, thought to be in the region of £70M-£80M.

It is thought that Barclays have been seeking assurances that the debt, which stands around £40M at Newcastle, will be reduced as part of the takeover.

But we would have thought that the transfer fees we have brought in with the sale of a number of our players (about £23M) would have helped to reduce that debt, but apparently that has not happened – yet.

The Telegraph understand that Barclays is satisfied with the Moat takeover plans, however, and has already received reassurances that his proposal is a solid one.

It appears that Moat is putting up some of his own money to buy the club, with the balance coming from investors, thought to be located in America.

The key to all of this of course is Ashley agreeing to accept Moat’s offer, but why would Ashley wait this long for the loan to go through , if he then wasn’t to accept the deal?   Yes, we know, anything is possible with Mike.

We don’t know if this report in the Telegraph is true, but we’ve been expecting some news to leak through soon, on whether the loan was approved. We hope this story is true. 😀

Ashley has been seeking £100M for the club and has appeared a little reluctant to accept less, but he just may have to do that, and now is the time.

He should also know from Saturday, that he is hardly one of the Newcastle fans’ favorite people – to say the least.

Comments welcome.



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94 comments so far

  • M.Stockley

    Aug 18, 2009 at 11:47 AM

    Comment #1

    i bloody hope so!

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  • frankyong

    Aug 18, 2009 at 11:51 AM

    Comment #2

    good, getting more and more good news now, lets get a win tomorrow.

    0
  • Big Dave

    Aug 18, 2009 at 11:51 AM

    Comment #3

    I just pray that this is true
    Howay the lads

    0
  • Big Dave

    Aug 18, 2009 at 11:54 AM

    Comment #4

    Maybe Duffer will not agree terms with Fulham then as it seems to be taking a while

    0
  • mylestoon

    Aug 18, 2009 at 11:54 AM

    Comment #5

    comon! get in there searer, kick cashley out of toon!

    0
  • Toon_Army

    Aug 18, 2009 at 11:55 AM

    Comment #6

    I’m worried Moat needs to borrow money… We might be going from a Bad situation to a worse one… Surely we should be concerned, where is the money for new players going to come from if he needs a loan just to buy the club?

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  • mylestoon

    Aug 18, 2009 at 11:57 AM

    Comment #7

    he needs the loan to reduce the overdraft i thought, surely the american backers will be supplying the cash for the players.

    0
  • lesh

    Aug 18, 2009 at 11:58 AM

    Comment #8

    Bunter’s Donna’s reportedly expecting a press conference so we’ll just have to wait and see what happens…… if anything at all!

    0
  • Waldo P. Barnstormer

    Aug 18, 2009 at 11:58 AM

    Comment #9

    duff has gone dave mate.

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  • bill

    Aug 18, 2009 at 11:59 AM

    Comment #10

    How else do you buy anything of magnitude without borrowing the money?
    Not everyone has billions in their back pockets, so unless some oil rich Arab comes along we will have to hopefully get people in who can run a football club within a budget, whatever that budget may turn out to be.

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  • Stuart79

    Aug 18, 2009 at 12:01 PM

    Comment #11

    I don’t think this will go through.

    Banks aren’t throwing cash about at the minute.

    Ashley has been offering interest free loans out to potential buyers so why not borrow off him?

    This stoy could just be a load of sh1te

    0
  • bozo

    Aug 18, 2009 at 12:01 PM

    Comment #12

    The same reports also say that barclays are unhappy that none of the transfer fees have been used in lowering the clubs debt looks like Ashley is pocketing the cash before he does a runner.

    0
  • bill

    Aug 18, 2009 at 12:01 PM

    Comment #13

    Duff definitely gone, it’s on the Fulham web site.

    0
  • bill

    Aug 18, 2009 at 12:02 PM

    Comment #14

    Lighten up Stuart.

    0
  • HarryWorth

    Aug 18, 2009 at 12:03 PM

    Comment #15

    SHHHHHEEEEEAAAARRRRREEERRRR!!!

    0
  • Stuart79

    Aug 18, 2009 at 12:03 PM

    Comment #16

    13 bill // Aug 18, 2009 at 12:01 PM

    Duff definitely gone, it’s on the Fulham web site.

    Ridiculous to expect our club to let us know anything!

    0
  • nufc2009

    Aug 18, 2009 at 12:04 PM

    Comment #17

    sky spts confirm moat is in talks with newcastle

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  • Ratfink

    Aug 18, 2009 at 12:04 PM

    Comment #18

    Did you buy your house with cash? No business man has this sort of money laying around in a bank account. All their money is tied up in businesses and investments.

    Moat isnt a Billionaire but he has some some investors. At least he will have to run the company in the correct way. Ashley could stand the loss and run for the hills if we went under and would just put it down as a bad day at the races and claim some tax relief.

    We dont need loads of cash we need clever people at the top, a good business plan and the right long term manager.

    0
  • Toon_Army

    Aug 18, 2009 at 12:04 PM

    Comment #19

    I was under the impression it was a consotium of sorts with the American Backers having already stated mow much they will invest (which is part of the purchase price) wasn’t Moat looking for a new investor before going to the bank? I’m sure I remember that Article…

    No I’m very worried, Ash was terrible as a chairman and did not have a clue about football but I think Financially the club was probably quite sound which is why we would never be a Leeds, however if we get another Freddy Shepard we could end up going backwards and putting the club back into the red…

    0
  • RyanToon

    Aug 18, 2009 at 12:04 PM

    Comment #20

    SSN

    Moat in talks with Newcastle!

    0
  • nufc2009

    Aug 18, 2009 at 12:04 PM

    Comment #21

    and the fee is 100 million pounds

    0
  • bill

    Aug 18, 2009 at 12:05 PM

    Comment #22

    What’s new Stuart?

    Hopefully, our new owner(s) will communicate better.

    0
  • Waddles mullet

    Aug 18, 2009 at 12:05 PM

    Comment #24

    Get ready!!!!!

    0
  • NUFC-0809-Oh Dear

    Aug 18, 2009 at 12:06 PM

    Comment #25

    Billuy Bunter is saying on other blogs that there issmething kickingoff – Imminent Press Conference!!!

    0
  • Stuart79

    Aug 18, 2009 at 12:06 PM

    Comment #26

    RyanToon // Aug 18, 2009 at 12:04 PM

    SSN

    Moat in talks with Newcastle!

    Is that from David Craig

    0
  • Big Dave

    Aug 18, 2009 at 12:06 PM

    Comment #27

    Toon_Army nothing can be worse than being owned by Ma, Moat isnt a stupid man he knows what he is doing he wouldnt be trying to buy us unless he could make a success of it imo

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  • thud and blunder

    Aug 18, 2009 at 12:07 PM

    Comment #28

    FINGERS AND TOES CROSSED, JUST BEEN ON SSN THAT THE CLUB ARE IN TALKS FOR THE PROPOSED SALE TO BARRY MOAT FOR £100M…..

    ALSO SAID THAT THEY ARE IN TALKS WITH TWO OTHER CONSORTIUM….

    JUST BLOODY SELL UP AND LEAVE THE TOON FAT ASHLEY!!!

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  • Toon_Army

    Aug 18, 2009 at 12:07 PM

    Comment #29

    FROM SKY SPORTS:

    12.02 Fulham have completed the capture of Damien Duff from Newcastle United for an undisclosed fee. The Republic of Ireland winger has signed a three-year contract at Craven Cottage.

    0
  • NUFC-0809-Oh Dear

    Aug 18, 2009 at 12:07 PM

    Comment #30

    Duffer Deal confirmed on Fulham/NUFC and SSN sites

    0
  • hitman

    Aug 18, 2009 at 12:09 PM

    Comment #31

    moat and 2 other groups in talks,from DC

    0
  • G-Man

    Aug 18, 2009 at 12:09 PM

    Comment #32

    David Craig just on SkyNews, Ashley still talking to Barry Moat aswell as 2 other bidders, but will not budge from £100 million, looks like he has put the £24 mill from sales into back pocket, nice one fatboy……

    0
  • mylestoon

    Aug 18, 2009 at 12:09 PM

    Comment #33

    moat wouldnt buy the club if he didnt think he could afford it. he would be a bit of a retard if he did! Plus hes an establishes business man, so im sure he will be good!

    0
  • Stuart79

    Aug 18, 2009 at 12:09 PM

    Comment #34

    It’s on th breaking news ticker but where is the confirmation from the club?

    How have we gone from no interest to three interested?

    0
  • RyanToon

    Aug 18, 2009 at 12:10 PM

    Comment #35

    its close lads

    0
  • Toon_Army

    Aug 18, 2009 at 12:16 PM

    Comment #36

    I’m sure you guys are right, Sounds Logical but so did the Ashley take over at the time… We were happy then too and he was an established businessman also, I guess I’m not used to good news lately…

    For sure Ash has to go now, he has made far too many errors in judgement and he is financially very jittery, he’s srupid really, he could have installed Shearer as Manager kept Bassong, sold the other players that have left and given the money for a transfer kitty…

    I think the club would have bounced strait back up and he could have sold it for what he paid fr it…

    Anyone willing to take such a huge loss is a loser in my oppinion…

    0
  • chuck

    Aug 18, 2009 at 12:16 PM

    Comment #37

    Still grasping @ straws I aint gonna happen, cause Moat is a day late and a dollar short !
    Do we really want a guy struggling to meet the bills as owner, not me !
    Rather wait untill someone with real money shows up.
    Dont wory it will.
    When MA continues to deal with poor attendance, constant abuse by the fans, the club losing money and value, he will accept a deal well below the present asking price and cut his losses.
    Patience !

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  • cicero

    Aug 18, 2009 at 12:16 PM

    Comment #38

    Ashley wants to sell, Moat wants to buy and Barclays want security. I think that Moat and Ashley sitting together means that the deal has been done in principle it’s just being formalised by the bank and lawyers. Hope so anyhow.

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  • magforlife

    Aug 18, 2009 at 12:17 PM

    Comment #39

    Should make for a fantastic atmosphere tomorrow if the sale is confirmed, oh the relief will be something else and well worth waiting for to see the back of Ashley and sidekick

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  • NUFC-0809-Oh Dear

    Aug 18, 2009 at 12:17 PM

    Comment #40

    Moat is not a day late, he has until tomorrow!

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