Moat Nears Finish Line In Buying Newcastle Club


The usually very reliable George Caulkin of The Times, is reporting today that the sale of Newcastle United to Barry Moat is nearing completion.

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Barry Moat – new owner of Newcastle – almost


The Newcastle takeover could come to a close this weekend, with Barry Moat, the Tyneside-based businessman, becoming much more optimistic in his quest to buy his home town club.

The assumption is that Kevin Keegan’s case for constructive dismissal against Newcastle will be concluded before the end of the week, and that will tie up another piece to allow the sale to go forward.

Keegan left the club a year ago, and is understood to have rejected a £4M compromise offer to settle. There’s nothing like the smell of money to make reasonable men lose all their class, is there?

And just for clarification, this case has been brought against Newcastle United, and the club will have to pay, not Mike Ashley himself.

But once this Tribunal makes a decision, that will be another unknown concluded, and will allow the sale to finally move forward, since we understand Moat can bid the full £100M, which is what Ashley is asking.

Caulkin reports the issues that have been delaying the sale are:

  • The structure of the payments for the £100 million Ashley will be paid for the Newcastle club
  • Possible bonuses to be paid out in the event of Newcastle’s promotion this season
  • The limit of the working overdraft that Barclays is prepared to provide Moat

Despite all the delays since the end of May, the mood among those connected with the Moat bid are said to be high and positive.  Moat is thought to have solid financial backing from the US.

If Moat succeeds, he will immediately put a long term management structure in place at the club, and will almost certainly appoint Alan Shearer, his friend, to be the permanent manager.

We also wouldn’t be surprised if he also brought in an experienced football man to be either a CEO or Chairman at the club, which is probabaly why news broke recently that  Llambias was being replaced.

The position to be filled is essentially what the clueless Derek LLambias has held for the last 16 months – and notice all the trouble started when Derek took over and Chris Mort left a year last May.

We were ubeat about the news a week ago that a consortium thought to be Moat’s had offered the full £100M to Ashley, and the final stages of the sale were being worked through. And this report, if true, makes us believe a deal could be very close,as George is indeed reporting.

The fact that things about the had gone very quiet, we took as a good sign, because real work usually gets done during these “silent” times, in our experience of some takeovers at IBM.

Although some who reported last week’s news as even negative, it seemed to us the end game had been reached, and last week we fully expected a sale to be concluded – and certainly before the end of the year.

The  completion of all of this nonsense could well come within a couple of weeks – and Mike will finally leave the club – and we think this is for real.

But first things first, and we need to win at Ipswich on Saturday, and then we must win the home games against QPR and Bristol City,which are followed by a two week International break.

If we are top of the league again by then – that would be just great!

Comments welcome.



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28 comments so far

  • Elfy_Toon

    Sep 23, 2009 at 1:20 AM

    Comment #1

    this just cant get done soon enough, does anyone know of moats preference for the position of manager? because ive heard nor hide nor tail about the sunject as ppl have generally assumed shearer but will he really get it? who does every1 think will b our new manager assuming its not CH or shearer.

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  • tartoon

    Sep 23, 2009 at 1:30 AM

    Comment #2

    sheeeeeeeeeeeeeeeeeit I hope this is true

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  • lacedaemonian

    Sep 23, 2009 at 1:33 AM

    Comment #3

    Barry Venison

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  • Tommy_PA

    Sep 23, 2009 at 1:42 AM

    Comment #4

    Ed,

    “Keegan left the club a year ago, and is understood to have rejected a £4M compromise offer to settle. There’s nothing like the smell of money to make reasonable men lose all their class, is there?”

    Maybe I am deluded still having some respect for Keegan, but I would take issue with that. Perhaps Keegan doesn’t like the implication from the compromise, that maybe he was “guilty” of something he was not?
    Given that a leak of a compromise settlement is possible, we would have to assume the terms of the settlement will leak sometime soon after?

    Obviously the case is against the club, it is a counter against the case by the club. Unlikely it would turn into individual civil suits against Ashley, Llambias, Wise….

    Anyway, let’s hope something is concluded soon, I do agree that whatever happens that getting a more savvy MD will be the best thing for the club.

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  • Jay jay

    Sep 23, 2009 at 1:48 AM

    Comment #5

    I just want this all over and done with. been here many times before though im not gonna start counting chickens yet there is still time for ashley to balls this up

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  • MacToon

    Sep 23, 2009 at 3:36 AM

    Comment #6

    £4 million in the back pocket would have done very nicely IF he was purely after money, maybe he wants to show up this useless owner for what he really is and the money is less important!

    Maybe condemn KK before you know the truth?

    Anyway, sooner this is over the better because threads like these will just drive a wedge between loyal NUFC fans.

    Short memories some people.

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  • ende

    Sep 23, 2009 at 6:39 AM

    Comment #7

    Gotta agree with the above. Ed, please stop trying to portray this huge fan movement against KK. None here actually know what really happened, so we should be reserving judgement. It’s great that you have an opinion on the matter, but trying to strong arm it upon your readers hurts your integrity.

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  • Nick D

    Sep 23, 2009 at 6:41 AM

    Comment #8

    would have preferred the new york consortium worth billions. just not sure what moat brings if anthing and is re-appointing shearer really the right thing to do, especially now.

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  • Nick D

    Sep 23, 2009 at 6:43 AM

    Comment #9

    personally 4m seems a verg good compromise. it’s not as if kk earned it, but i certainly think he deserves something.

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  • Davey Falcus

    Sep 23, 2009 at 8:05 AM

    Comment #10

    I just want this over with. I’ve said previously I don’t know if Moat would be a great leap forward for us. But if his US backing is serious, as being suggested then hopefully they will come forward once the deal is concluded to let us know what their intentions for the club are. Hopefully it will be a lot of heavy investment in January to make sure we hit the Premiership again.

    Here’s hoping it happens!

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  • linkleter72

    Sep 23, 2009 at 8:17 AM

    Comment #11

    We shouldn’t rush into appointing Chris Hughton as manager. OK he is getting the results for us now, but we been here before with Glenn Roeder.
    Shearer will bring in a recognisable icon, and a buzz to the club.

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  • premier

    Sep 23, 2009 at 8:52 AM

    Comment #12

    Elfy–think Moat will plump for a Messiah as manager

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  • dave 1961

    Sep 23, 2009 at 9:24 AM

    Comment #13

    as he will be after a big name may i suggest Englebirt Humperdink cant get much bigger than that (any ideas)?

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  • DJM TOON

    Sep 23, 2009 at 9:41 AM

    Comment #14

    shearer can bring in whatever he wants but if it doesnt include results… you’ll all find something to blame other than his tactical ineptness

    well, as a general rule atleast

    for the good of the toon, of course i want him to succeed, but look what the majority of people are doing to CH, he’s lost one game in the league and you’re still slating him

    the majority of you give us fans a bad name

    muppets

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  • Whumpie

    Sep 23, 2009 at 10:08 AM

    Comment #15

    DJM – you’re right, it’s been sickening recently and showed that you could put Alex Ferguson in charge and win everything in sight, and these idiots would still call for his head for whatever reason they could think up. Pathetic.

    Mind you, I also believe that Shearer is the best long-term appointment, as long as CH is still in there with day-to-day involvement. You need a Big Al to be the figurehead, the big draw and the focus of passion. It comes down to this: can I see us getting into the top half of the PL under CH or AS? Well – both, but with AS as the figurehead.

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  • Johno Toon

    Sep 23, 2009 at 10:27 AM

    Comment #16

    Spot on djm and whumpie

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  • Davies

    Sep 23, 2009 at 10:45 AM

    Comment #17

    I have no issue with Hugton staying on as manager until the end of the season. Appointing Shearer at this stage could be disasterously disruptive to what has proven to be a surprisingly galvanised squad. He’s doing fine and he’s making some smart decisions.

    Also, I’m sorry for those who disagree with Ed’s apparent distaste for Keegan at the moment, but I think you are still holding him in too high a regard. He has walked out twice, leaving us right in the 5hit last time and now he’s suing us. “A club I love” my ar5e. This is greed. I don’t care about the legalities of the matter. Tell me what he did that has earned him £8m. When your salary is £3m a year at Newcastle United (if you truly love it), the word “untenable” should not be in your vocabulary.

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  • sirjasontoon

    Sep 23, 2009 at 10:54 AM

    Comment #18

    So we go from a Rich cockney to a poor geordie,I am not excited by this and I just don’t think he will bring the vital investment needed to compete at the top end of the premiership.

    Are his backers Minted?Who are they?

    I could be wrong and I hope I am.

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  • Whumpie

    Sep 23, 2009 at 10:55 AM

    Comment #19

    Davies, you’re blinded by big numbers, that’s all.

    Try looking at this but replacing £3m a year with your own salary, and £9m with 3 times your own salary. Then put yourself in the position of KK, being utterly screwed over, humiliated and ultimately forced out of the club you love.

    Now: also assuming that those 3 years’ salary would buy 3 decent players, are you saying you’d let the world continue to think you quit and say “Go on Mike – keep the money and buy yourself a nice left-back”?

    Get real. This isn’t about money – it’s about pride, justice and fighting these idiots like Ashley who destroy football clubs like kids with toys.

    I hope KK grinds the cockney mafia into the ground. After all, it’s just money which will be wiped off the sale price, so it’s Ashley’s pocket ultimately.

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  • Whumpie

    Sep 23, 2009 at 10:59 AM

    Comment #20

    SJT – it is a concern, but if (big IF) Moat brings in the right people I’d much rather have a stable but financially limited team in place than the current idiots, who have so far cost the club about £200m and actually reduced the squad in the process.

    Money counts for nowt if you don’t spend it and make stupid decisions which lead to relegation.

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  • punk skunk...

    Sep 23, 2009 at 11:51 AM

    Comment #21

    Relagation=squad cullin’, whoever’s in control, way of the financial world…Sad but true!..

    …Wake me up when it’s all over!..

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  • DJM TOON

    Sep 23, 2009 at 12:01 PM

    Comment #22

    whumpie, agreed fella… ashley hasnt invested anyway and he’s made a mockery of the club, if the only choice available to us is a geordie, with less money but more sense then i’m game for that. antyhing has to be better than the current situation, simple as

    some people just cant be pleased

    regarding keegan, doesnt his sporting facility in scotland have about 8mill debt?? i think it has.

    shearer as a figure head, yes, but i do believe he would need some strong support team around him, the last thing i would want is to see him fail. we would be the laughing stock again for putting our faith in a striker who was world class but a completely untried or tested manager, i’m sure we can all understand why its playing with fire? yes?

    i’ve said for a while, i dont think Moat is the buyer, however current press says otherwise, and there is also word of backing form america, which could be interesting. we know already that shearer would want funds so maybe what we know so far is nowhere near the full story.. time will tell

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  • Sav

    Sep 23, 2009 at 1:26 PM

    Comment #23

    Trouble with a settlement out of court is that it will inevitably include a silence clause if this current regime are true to form. Perhaps, Ed, it is precisely in order to be able to hold his reputation amongst the fans some of whom, like you, take a dim view of KK’s walking out, that he has rejected it. He may still receive 4 million from the tribunal but he can say what happened afterwards – and you can stick it on your blog.

    On the Ashley or Newcastle argument, it seems unlikely that any extra debt resulting from the tribunal will not be factored into the price Ashley eventually receives, meaning it will be he who suffers the loss.

    As for Moat, I hope the drawbridge is lowered on Black Baron Ashley’s Newcastle by the weekend and we see the back of him and Dirty Derek asap.

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  • Wallsend Will

    Sep 23, 2009 at 2:27 PM

    Comment #24

    I agree with Sav and Whumpie comments. Whatever you feel about Keegan walking out or being greedy, it’s something very personal between him and Ashley. I have felt for some time that apart from what was written in his contract with Ashley, that he promised to win things for Newcastle , if Ashley backed him with money for players of his choice. Ashley at the start certainly gave that impression. Money no object approach to success, perhaps not as much as Chelsea, but in the same mode. Keegan really feels that he has been badly let down by Ashley. I hope he wins!

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  • toonluvva

    Sep 23, 2009 at 5:41 PM

    Comment #25

    Sorry to post this but I get a feeling this is a matter of “Good-bye frying pan, hello fire” if Moat takes over.
    He has taken ages to pull together the £100m asking price, and we know that come January we will need at least £20m – £25m to bring in the requisite players to get us out of the ccc and give us a half decent chance of staying in the PL. Can he get that sort of money?

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  • geordie deb

    Sep 23, 2009 at 7:15 PM

    Comment #26

    Definite frying pan and fire. Not convinced by Moat and certainly not convinced by Shearer –

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  • Wigaz

    Sep 23, 2009 at 7:41 PM

    Comment #27

    Seriously people! Mike Ashley’s reign as Nufc Owner has been a PURE DISASTER!!!! how can news of anybody but that fat tit taking over be bad? I firmly belive if he had not bought us then we’d still be a prem team. Hell if he’d took £350m from the abu dabi group then we’d be pushing for the title or at least top 4! All i can say is that I pray moat takes over our club, and i hope mike ashley gets as far away from NUFC as humanly possible. Doubters…GIVE YOUR HEED A SHAKE!!!!!

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  • geordie deb

    Sep 23, 2009 at 9:13 PM

    Comment #28

    Wigaz

    Not wanting Moat does not mean I want Ashley, far from it. I think people have a right to hope for a good owner after the shennanigans over the past 10 + years. Just because Moat seems to be the only bidder does not mean I want him to be owner. If he truly has the backing which is not yet obvious fair enough, by why do we have to have his mate Shearer as part of the package as well? Will this lunacy never end?

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