Ashley Brings In New Kingpin To Run Newcastle And Get It Shipshape For New Investors


The Telegraph is reporting that Mike Ashley is shaking up the executive ranks at Newcastle as he looks for investors or even an outright buyer for the Newcastle United club.

The news is that Ashley has brought Justin Barnes into the club and he is one of the most powerful trusted executives of the English Billionaire.

The lawyer has been described as a “fixer upper” and “a reliable deal maker” and his appearance at the club and his rather caustic personality has reportedly already ruffled some feathers.

In other reports we have seen in some initial research on Barnes is that he is described as the man who puts the boot in for Mike Ashley.

Mike Ashley and Justin Barnes, Newcastle new get things done man

It’s a strange deal because Barnes is not employed by the club, he continues work directly for Ashley.

But he nevertheless has a big say in how things are done at the club – and his main role seems to be to attract investors to buy a stake in Newcastle.

How he’s going to do that is an interesting question, because a lot of attracting outside investors is how Newcastle do on the field and how good our financial sanding is now and likely to be in the future in the future – which of course very much depends on success on the field.

Let’s hope his appearance at the club is not bothering Rafa Benitez too much and it looks like Justin  should be busy mostly on the financial side of things.

Lee Charnley is said to have already had to run financial decisions past Barnes over the last few weeks before he goes to Mike Ashley to make any deal in the transfer market.

The best outcome in all of  this  for Newcastle is probably to keep Mike as the majority owner, but get maybe up to as much as £200M investment into the club from outside investors.

That will stand us in good stead to match the top six in the league at least on a financial basis.

It looks like Barnes has worked directly for Ashley for the last several years and he will continue to work that way as he is given a job to do for Newcastle United on Ashley’s behalf.

A strange position for Barnes and more troublesome for Lee Charnley in his current position than anybody else at Newcastle.

His role is reported by the Telegraph to ensure than if and when investors come in they are able to handle the negotiations quickly and get the investment done.

Newcastle financial books and other things investors will want to look at closely during due diligence must all be in good order.

In the past Barnes has made a number of acquisitions for Sports Direct while also working directly for Mike Ashley.

This seems a move to both attract investors but also get the deal done as quickly as possible, so Barnes’ role is to ensure everything is in order that potential investors will want to study and understand (quickly).

It’s to get investment into the club and that allows Mike to share the financial risk, so it’s a good thing long term for Newcastle as Rafa tries to build a team on the field that will challenge the best in Europe in  a few years time.

As long as Barnes doesn’t upset Rafa Benitez or the stability of the club, everything should be OK.

What do you think?

Comments welcome.



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13 comments so far

  • DicBDoonToon

    Jun 16, 2017 at 7:33 AM

    Comment #1

    Looks like a gimp with that donkey fringe.
    All I will say is, please Mike, don’t screw this up now. If Raffa walks because of anything Mike does, hes a dead man walking.

    0
  • Tinman

    Jun 16, 2017 at 7:37 AM

    Comment #2

    Very clear at least a stake is getting sold now. Ashley has brought in the big guns.

    1
  • sing in the corner

    Jun 16, 2017 at 7:44 AM

    Comment #3

    Spiv to the very end it seems..
    £55 for this season’s replica home shirt, but you could instead get the AUTHENTIC shirt, which is skin tight, has state of the art technology, massaging the muscles to get them to activate quicker.

    For £99.

    🙂

    0
  • firebug666

    Jun 16, 2017 at 7:46 AM

    Comment #4

    When you sift out the press exaggeration, this probably means that NUFC progress as normal and Barnes is involved (as a lawyer) to deal with the investment / takeover. If Barnes is not employed by the club then the club should not need to answer to him for anything, all the club needs to do is supply him with the information required for him to bring in investment.

    Having never been able to trust Ashley though, who knows what Barnes actual role will be, is this just another way in that when the club is doing well and on the up, Ashley will find a way to drag it back onto it’s knees? I prefer what is in the first paragraph I wrote to be the truth, but this is Ashley were talking about.

    3
  • Jib

    Jun 16, 2017 at 7:54 AM

    Comment #5

    Folk adding 2+2 & getting 5 again
    I expected an announcement like this 48 hours after Charnley met HM Customs

    1
  • Bambams

    Jun 16, 2017 at 7:55 AM

    Comment #6

    Sigh…

    0
  • toontaff2

    Jun 16, 2017 at 7:56 AM

    Comment #7

    Reading ‘Kingpin’ I was expecting a Bond villain, not this triple chinned fruitcake with bizarre fringe 😆

    3
  • BlacknWhiteBarmy

    Jun 16, 2017 at 7:58 AM

    Comment #8

    Takeover or preparing a case for Penfold v HMRC? either way its distraction forgetting players in!!!

    0
  • DubaiMicky

    Jun 16, 2017 at 8:01 AM

    Comment #9

    To be fair we must have the smallest board in the Premiership with Penfold basically doing everything (and for a relatively small c£200,000 a year wage), so even though this guy isn’t on the board at the Toon, he can and will directly influence what is spent and where with the goal of getting the best possible deal for Ashley – and to expedite any potential buyers/investors due diligence.
    So on one hand a good thing, but on the other not so.
    Still, no point in worrying about what we can’t change is there, my £55.00 shirt is getting delivered by DHL on Sunday afternoon to Dubai.

    1
  • nightfa11

    Jun 16, 2017 at 8:54 AM

    Comment #10

    If Ashley wants a maximum investment from chinesse, he must show them that nufc are becoming a force again.. He must back rafa and sign top players..

    On another note.. I think lejeuens transfer got delayed, because smalling become available..

    I think we’re after :

    Reina
    Smalling /lejeuen
    Mangala/abdennour (lescalles and Clark are good, but I think they might get scared playing against aguero, lukaku etc.. Same with our keepers)
    Leiva

    Not sure about other positions, but I’m hoping for sigurdsson, Bakambu and as for LW..Maybe januzaj?

    0
  • lesh

    Jun 16, 2017 at 9:04 AM

    Comment #11

    Mikey boy’s promise not to be involved in running the club still holds true – he’s appointed his place-man to interfere on his behalf!

    0
  • Sav

    Jun 16, 2017 at 11:04 AM

    Comment #12

    ‘Shaking up executive ranks’ and ‘ruffled feathers’ – examples please?

    0
  • Roger

    Jun 16, 2017 at 3:29 PM

    Comment #13

    What happened in this Club. No new Players. Rafa what are you doing the whole, day. I see us in the
    Championship again next Season.

    1

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