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.
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.
94 comments so far
lesh
Aug 18, 2009 at 1:20 PM
Comment #81The fact that that the Press Association’s picked it up and Llambias has talked to SSN, naming Moat, give me a nice warm feeling that we’re to get a result and a new owner.
Whumpie
Aug 18, 2009 at 1:21 PM
Comment #82Let’s remember that SSN also reported on the Mackem hoax as if it was confirmed news…
bill
Aug 18, 2009 at 1:25 PM
Comment #83Ashley has been and gone according to The Northern Echoe.
yorkie geordie
Aug 18, 2009 at 1:25 PM
Comment #841.Ashley out v.soon (bloody well hope so)
2.Moat,Shearer, Campbell and Lovenkrands in.
3.Keep Steven Taylor – future captain of club and country
Good vibes are happenin’ on and off field – so in memory of SBR lets skin Sheff Wed 8-0 again tomorra neet!
…I think we’ll all be happy with 1-0 win tho!
Hope I’ve chosen the right time to join!
Howay th’Lads
NUFC-0809-Oh Dear
Aug 18, 2009 at 1:26 PM
Comment #85“Newcastle on brink of £100m takeover by Barry Moat as Mike Ashley flies in to club’s training ground for further talks”
“Newcastle on brink of £100m takeover by Barry Moat as Mike Ashley flies in to club’s training ground for further talks!”
Whumpie
Aug 18, 2009 at 1:26 PM
Comment #86Well said on tomorrow’s match, Lesh. I’m 350 miles away and I can’t get my head around why any ‘fan’ would sit at home within a few miles of SJP and miss this match for the sake of £20.
Get in there, shout loud and proud, and show the Owls what proper support is like.
bill
Aug 18, 2009 at 1:28 PM
Comment #87NUFC-0809-Oh Dear :
It sounded so good you wrote it twice.
NUFC-0809-Oh Dear
Aug 18, 2009 at 1:43 PM
Comment #88lol Bill, the second part was about Ashley having a meeting with Houghton and Players but it must not have copied!
ToonRich
Aug 18, 2009 at 1:44 PM
Comment #89Bill #80, cant really hold it against BB though can we! He’s only giving us some news and doesnt try backtracking when he gets something wrong like some of the others do!!
I still want Ginola on our coaching staff…he could teach Jonas how to cross!!
Anyone else think Simpson should start tomorrow? and put R.Taylor on the wing, his crossing could make or break the game. Seen as though JB will prob only make the bench
NUFC-0809-Oh Dear
Aug 18, 2009 at 1:44 PM
Comment #90heres the rest Bill….
“Ashley is also expected to meet caretaker manager Chris Hughton who was preparing the squad for Wednesday night’s meeting with Sheffield Wednesday at St James’s Park.
Senior players have been demanding a meeting with the club’s board following a summer of frustration. They wanted to see Shearer appointed as manager in May, the last time Ashley was seen at the training ground, but have been left in dark as Ashley tries to sell the club.”
dave 1961
Aug 18, 2009 at 1:47 PM
Comment #91Just a thought but when the takeovers confirmed we should all go and buy as much new gear from the club as we can afford to help the club I will take the embargo off the club and no doubt the wife will boost the coffers by a few hundred quid, she will get the kids new gear for Christmas, we should all do what we can to help financially
NUFC-0809-Oh Dear
Aug 18, 2009 at 1:54 PM
Comment #92Good Call Dave. 110% support from EVERYONE!!!!
If its announced today/early tomorrow, pack St.James to the bloody rafters in support!
Howay lads!
Billy Bunter
Aug 18, 2009 at 7:18 PM
Comment #93LADS – just been texted off wor Donna – she said that the big press confrence she is doing was not the one today with Hougten – she is still doing it all now, she has had to stay late. But she doesnt know if its tomorro.
im so exsited,
LADS will you all do me a faver if this hapens, will you’s back is coz batty and ryan toon have been nasty to me and bullyin is all summer, they try and be the bigwigs of this blig and bully poeple who come on to be nice and have a bit of crack. thanks lads
Donna doesnt know what the confrence is about yet tho – hope she finds out and i will tell yous – cheers lads
chuck
Aug 20, 2009 at 11:47 AM
Comment #94Let me see here, Hughton was crap, now he is a hero ?
Shola was crap, now he gets a standig O. ?
But Nolan is still fat ?
Taylor was useless, now it`s please dont leave ?
Jonas was terrific , nowthere`s no end product.
Shearer gets one win in eight and he`s the best candidate for the managerial role. ?
Everyone dislikes Butt ?
It`s all very confusing !