News today that the American-based group interested in taking over Newcastle United have arrived in London for face-to-face talks with investment bankers Seymour Pierce, who are handling the sale of Newcastle United.
The group is reported to have strong connections with professional sports organisations in the US, are based out of New York City, and are said to be working feverishly with Seymour Pierce duo Keith Harris and Tom Sheldon, to complete the purchase of Newcastle, after making their interest known in the last couple of weeks.
We can tell you if the above is true, the Americans will work around the clock, and this weekend to close the deal. We’d noticed that Barclays Bank didn’t seem to do that to quicken up the loan for Moat, which to us is odd, in this world of 7 by 24 business.
As a quick example, when I was an IBM consultant, we worked overnight – until 6:00am in the morning – to get our presentation and results ready, before meeting with the client at 8:00am – and we did more than once, we may add.
They were successful presentations – very successful in fact – and then we got some sleep. 😀
Mike Ashley is said to have put a one-week deadline on Barry Moat with the Tyneside-based businessman attempting to agree terms with Barclays Bank to agree the club’s working overdraft facility of £39M.
The news is we’ve used just £20M of that overdraft limit, by the way.
But we understand Barry has been given the OK with the loan, but now cannot come ypo with the personal 20M he is to put towards the purchase.
The local Evening Chronicle is reporting this afternoon that the Americans – who have North West sports retailer Geoff Sheard spearheading their bid – are attempting to close the deal with Ashley, within his deadline.
It may be that the arrival of the main financial backers of the bid, in the UK, is a significant move, but we’re getting shell-shocked by all this uncertainty surrounding thew sale of the club, with just 4 days before the end of the transfer window.
We’d be happier to see news being reported that we have brought in new players on loan and signed free agents.
The mystical source close to the deal in the capital told the Chronicle today:
“The Americans are pushing like hell to get a deal through.” “They arrived in London late yesterday and will speak to Seymour Pierce once again.”
“It’s at a critical stage and they don’t want to say too much.” “Obviously with non-disclosure agreements signed it’s difficult for them. And it is a painfully slow process.”
Apparently the Americans would install Alan Shearer as manager, despite the tremendous start made by Newcastle under interim boss Chris Hughton.
We would hope if they buy Newcastle that Shaeraer would keep Hughton, and maybe Colin Calderwood at the club for continuity, and maybe a reward for their great job over the summer. But that would be unlikely, we think.
We cannot afford to start again under Shearer, and Alan will be under intense pressure to keep winning, and we’re a little surprised if he gets his second chance at Newcastle so soon.
After all he got just 5 points out of the last 24 available of last season, when 6 points (2 wins and 6 defeats) would have got the job done.
And more and more Newcastle players want Chris in as permanent manager, at least for this season.
As we reported earlier this week, the American group also intend to appoint New York-based strategic holding company, The Omnicom Group to rebrand Newcastle United on a global scale and increase sponsorship and advertising opportunities.
And they will assign worldwide PR giants Fleishman Hillard to attempt to repair relations between fans and the club – a good mopve given the disastrous PR under Ashley over the last 12 months.
This is at odds with the report that Moat would becomne Chairman and Alan as mamanger, unless this is what the Am,erican Group would also want to do – but Moat has no experience as Chairman of a fottball club.
So if you are confused by all of this – so are we.
Maybe the local Newcastle press can clear up the confusion.