Update On Moat’s Attempt To Buy Newcastle


Barry Moat will attempt this week to complete his purchase of the Newcastle United club from Mike Ashley, and it would appear that the size of his bid is now dependent on how much Barclays Bank is willing to lend the Newcastle businessman.

mike ashley barry moat

Mike Ashley with Barry Moat

It appears that Barry spent most of yesterday in a series of meetings with owner Mike Ashley and the club’s primary bank Barclays.

Barry is negotiating a loan with Barclays and it could well be that the size of the loan he can get will determine if he can meet Ashley’s asking price of £100M, and thereby be successful in buying his home town club.

There were several reports yesterday that Ashley would not sell for less than the £100M figure, and there are supposedly still two other consortia involved in negotiations.

Barclays remains concerned about the £40M overdraft the club still has, but we would hope the £23M the club has received in recent transfer fees for Martins, Bassong, Beye and Duff, will help reduce that figure.

Ashley visited the club’s training ground by helicopter early yesterday afternoon, but there was some confusion about what that was all about, and whether it was a farewell visit to the players, since he will not be attending tonight’s game against Sheffield Wednesday.

He did speak to interim boss Hughton, who says the sale was never mentioned, but no players have said anything about their meeting with the owner, and they were probably told to say nothing, in any case.

Both Moat and Ashley are well aware that if a deal is to be done it must be completed within the next few days, to allow the incoming manager to bring in new players, since the squad is currently very thin indeed.

The new manager will be either Alan Shearer if Moat is successful, or probably Joe Kinnear if Ashley keeps the club.

Moat is still the preferred bidder of Ashley’s advisors at investment bank Seymour Pierce, who believe Barry offers the current owner the best exit strategy out of Newcastle.

Moat is also the only potential buyer to have held recent talks with Barclays Bank over the specifics of a deal, and it seems that the crucial issue is whether Barclay’s are comfortable to give Moat the money to meet Ashley’s £100M price, while at the same time reducing the overfraft of £40M to an acceptable figure to the bank.

That’s where we think things stand right now, so if Barclays are comfortable with Moat’s business plan, the deal could still go through.

Let’s hope it does, and then we’ll all have a new lease on life. 😀

Comments welcome.



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27 comments so far

  • RyanToon

    Aug 19, 2009 at 11:29 AM

    Comment #1

    fans 410 consortium are dreaming

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  • RyanToon

    Aug 19, 2009 at 11:34 AM

    Comment #2

    11.15 Premier League officials have confirmed the transfer window will close on Tuesday 1st September at 5pm.

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  • magpie4ever

    Aug 19, 2009 at 11:36 AM

    Comment #3

    Grahame Roberts has just been on Sky again 11.15am ish . Says they have the money for the asking price but dont know what the debts at the club atre and have a meeting to disucss it tomorrow!!! Jeez way too late in the day this if they havent seen the books!!!

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  • Magpietillidie22

    Aug 19, 2009 at 11:38 AM

    Comment #4

    They are clearly another singapore group designed to get their name out there… i wonder how many hits ‘fans 401’ or whatever it was called has had since being on SSN lol… crafty buggers

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  • ToonRich

    Aug 19, 2009 at 11:40 AM

    Comment #5

    Sorry to SHOUT!… IS THERE ANY TOON FANS IN THE SHEFFIELD AREA TRAVELLING UP THIS AFTERNOON?

    Just wondered if they’d want to share fuel cost and share a car up like… 🙂

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  • Nick D

    Aug 19, 2009 at 11:40 AM

    Comment #6

    Ed you keep saying the squad is paper thin, but Krul, Kadar, Lua and Ranger have all had to contend with largely being un used subs thus far.

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  • Rangerman

    Aug 19, 2009 at 11:55 AM

    Comment #7

    How is Mort going to pay back this loan he is taking out to buy the club?

    MILK THE NUFC CASH COW!!!

    MOOOOOOOO!!!

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  • Robby Bobson

    Aug 19, 2009 at 11:56 AM

    Comment #8

    As long as the business plan doesnt involve selling many more players. I can accept the sale of Colo and Campbell and an championship defender being brought in but thats it.

    Colo goes for 4 million, bring in St Ledger for half his wages. Thats the sort of business Shearer wanted to do :(.

    And the 23 million from the overdraft im not sure if Wolfsburg and Spurs would have paid the 8/9 million up front. But the wage bill should be drastically reduced now.

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  • spiderpig

    Aug 19, 2009 at 11:57 AM

    Comment #9

    well said nick d .why do we have to have old gits in the team all the time.we have no pace whatsoever.if your good enough your old enough.if we arnt goin to play them.loan them out to someone who will.

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  • Robby Bobson

    Aug 19, 2009 at 11:58 AM

    Comment #10

    Rangerman….Mort?? You know something we dont ;). Ashley giving him a friends discount of about 99.5 million then maybe.

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  • Here We Ngo Baheng

    Aug 19, 2009 at 11:59 AM

    Comment #11

    Nick D, it’s the beginning of the season and the only injuries we’ve had thus far have been in midfield which is where the team is best stocked for first team experience.

    Come November/December we’ll definitely need to make full use of our squad and as things stand thats going to be the entire youth team or some very tired old players who can then pick up serious injuries as a result.

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  • Rangerman

    Aug 19, 2009 at 12:01 PM

    Comment #12

    Ed you keep saying the squad is paper thin, but Krul, Kadar, Lua and Ranger have all had to contend with largely being un used subs thus far

    ……

    What makes me laugh is that people go on about us having some good young players but would rather us go out and buy experienced players than give them a chance.

    We’ve got a good blend at the moment of youth and experience, Boro will be bringing through their young players while they are down here so why shouldn’t we?

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  • Rangerman

    Aug 19, 2009 at 12:02 PM

    Comment #13

    Colo goes for 4 million, bring in St Ledger for half his wages. Thats the sort of business Shearer wanted to do

    Did he?

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  • Robby Bobson

    Aug 19, 2009 at 12:03 PM

    Comment #14

    No not that exact deal. Was just an example of getting rid of the waste and bringing in young hungry players.

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  • Rangerman

    Aug 19, 2009 at 12:03 PM

    Comment #15

    Nick D, it’s the beginning of the season and the only injuries we’ve had thus far have been in midfield which is where the team is best stocked for first team experience.

    Come November/December we’ll definitely need to make full use of our squad and as things stand thats going to be the entire youth team or some very tired old players who can then pick up serious injuries as a result.

    ……

    Which other clubs in this division have a bigger squad with more experienced players and won’t rely on youth?

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  • newcastle29

    Aug 19, 2009 at 12:06 PM

    Comment #16

    Rangerman.

    Boro?

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  • Rangerman

    Aug 19, 2009 at 12:06 PM

    Comment #17

    No not that exact deal. Was just an example of getting rid of the waste and bringing in young hungry players.

    …….

    I’ve never heard Shearer say this, just paper talk about what he could do if he came in.

    Every manager coming in would want to get rid of the waste of space players, unless they thought they could get something out of them as they were not being used properly.

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  • Rangerman

    Aug 19, 2009 at 12:09 PM

    Comment #18

    Boro won’t rely on youth?

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  • Robby Bobson

    Aug 19, 2009 at 12:17 PM

    Comment #19

    The fact is we play 46 games in the championshiop season plus cup games and the youth players that could come through are Kadar, Ranger and LuaLua and Krul.

    That still leaves us with 3 central defenders, one never played a league match, 2 out and out wingers (however we have many CMs so could change the system) and one proper left back. Also up front we have a lack of variation. Its not going to mean we have to replace the 10 players that left, but we do need to buy cover especially at the back and cannot sell anymore players (as i said maybe colo if we replace him with campbell and another centre back).

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  • premier

    Aug 19, 2009 at 12:22 PM

    Comment #20

    moat bid ditched

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  • cam_toon

    Aug 19, 2009 at 12:23 PM

    Comment #21

    hmm heard that form you several time prem.

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  • Mark-o

    Aug 19, 2009 at 12:39 PM

    Comment #22

    premier is gay

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  • cam_toon

    Aug 19, 2009 at 12:41 PM

    Comment #23

    spot on Marko.

    Don’t forget AIDS bag too.

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  • toonluvva

    Aug 19, 2009 at 5:02 PM

    Comment #24

    I don’t believe that there are any other serious bidders for NUFC other than Moat.
    If this new consortium were interested why did’nt they come out of the woodwork earlier, after all the club has been on the market for 3 months now, and if they had expressed an interest from the start they could have done all the due diligence necessary!
    I still expect Moat to buy only a part of NUFC, albeit a large one, and leave MA with some sort of share. Just get rid of LLambias and get a new chairman in who knows about the football business.

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  • ende

    Aug 19, 2009 at 5:08 PM

    Comment #25

    and cumdumster like

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  • dave 1961

    Aug 19, 2009 at 6:13 PM

    Comment #26

    KK doing wise ‘s job we have to pay him anyways might as well be for that

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  • chuck

    Aug 19, 2009 at 6:42 PM

    Comment #27

    It`s about time this subject was put to rest, it`s been analysed from every angle and is becoming boring.
    Sure I understand it`s all that`s happening right now, but thre`s got to be something nore interesting, no !

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