Detailed Information About The Announcement – Newcastle Are Up For Sale


The news unfolded yesterday that Mike Ashley was willing to sell Newcastle and would even defer payments so that a buyer can potentially come in and buy the club before the end of the year.

But we still think that will be difficult.

By making it easier to buy the club is a hint that the price may be too high.

Remember that once the owners buy Newcastle they would need to make some money available for new players as priority one – and then funds would need to be available to improve our facilities – such as the training ground.

Although it now looks rather difficult it would also be good to increase the size of the St. James’ Park capacity to 60,000 fans.

Andrew Henderson of Dentons, who is the lawyer for Ashley’s company St James’ Holdings, was interviewed exclusively by Sky Sports yesterday.

And in this long interview, he talks in detail about the thinking behind the announcement yesterday.

This triumvirate running Newcastle will soon be broken up if sale occurs

It appears that Mike Ashley has done all he is willing to do for Newcastle and it’s simply not enough – especially when we now have Rafa Benitez in place.

This is what Andrew Henderson, who is a partner at Dentons, told Sky Sports:

“There has obviously been a lot of press speculation about Mike’s intentions towards the club.”

“I think that there is a view that over the years there has been a considerable investment, perhaps a feeling that all that can be done has been done.”

“So it is probably just a recognition that it might be time for a change.”

“Our intentions at the moment are to see if the club can be brought forward into new ownership by potentially Christmas.”

“That would allow for a period for serious interested parties to put themselves forward.”

“It would allow for a diligence process to carry on, and then hopefully by Christmas for a sale to conclude with the sort of flexibility around terms we have discussed.”

“If that weren’t possible then there is no desire to sell the club for any price to anyone.”

“There is a lot of responsibility that goes with owning the football club so we would then look at that at the relevant time.”

“That’s the objective but nobody has a crystal ball so nobody can say for sure what happens and when.”

“I think back to the question of price, it will depend on what somebody is prepared to pay for the club,” he said.

“Football clubs have a scarcity value, nobody is making 150-year-old (we were founded 125 years ago) football clubs with the kind of traditions that Newcastle United have so obviously there is value there.”

“But then in terms of what the number is that will be dictated by how many people, how many serious people are interested.”

“How many serious people can deliver and so we then get to how long will that take, how long do we give them.”

“I think that is a matter for negotiation but certainly not all in year one so that’s how we would be approaching it.”

“What’s clear from our point of view is that we are going to be flexible so there is an intention to give.”

“That’s assuming an appropriate person can be found to take the club forward, on exactly how payments are structured.”

“How much would be payable day one, how much might be payable further down the line, so there is a real genuine desire from our point of view to make sure that the club is put in the best possible position going forward.”

“If that means additional funds, us helping with additional funds being available in the short-term, then we would seek to accommodate that.”

“Some will question the price but really there is also a question of value and the values of the club.”

“And as we go through a process now of seeing if there are potential buyers or other parties interested in the club, we will establish what the price is for the club.

“More than that there is also a question of custody of the club, the values, the fans and supporters which are all important as well.”

“I think there is a desire to see the club go forward, advance, flourish, so an appropriate person would have resources, time, a management structure, a plan for the club that was deemed to be appropriate and suitable, so it is a combination of things from our side.”

“We are aware of a number of non-disclosure agreements, we can’t go into the detail of who those are with.”

“There are a number of them, there may well be more to come so parties are at the table as far as we are concerned.”

“We have already seen quite a lot of interest so we don’t expect that to do anything other than accelerate as a result of this announcement.”

“So we will see where we get to but we would expect so. Clubs the size of Newcastle aren’t bought and sold every day.”

This same thing happened in late 2008 after Kevin Keegan left the club so we have to be wary, especially when it appears buyers are balking at the price.

But the fans want new owners and with Rafa in place, it’s going to be difficult for Mike Ashley to stay on as the owner of Newcastle United.

At least we hope that’s true.

Here’s a photo of Andrew Henderson – a partner at Dentons – and some information about him.

What do you think about all of this?

Comments welcome.



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8 comments so far

  • hibbit

    Oct 17, 2017 at 8:33 AM

    Comment #1

    it will be spot the buyer on Saturday
    the place will erupted if Amanda Staveley turns up LOL

    2
  • Mindshaft

    Oct 17, 2017 at 8:34 AM

    Comment #2

    Interesting that the club have admitted they have signed a number of NDAs with interested parties , makes me wonder if Ashley is trying to flush out more potential buyers due to none of the current parties are willing to come close to his valuation – hence the statement yesterday

    5
  • martoon

    Oct 17, 2017 at 8:40 AM

    Comment #3

    Well he’s saying all the right things that the fans want to hear but in reality they will probably snap the hand off, of anybody who offers anywhere near the asking price!

    0
  • EllaGuru

    Oct 17, 2017 at 9:10 AM

    Comment #4

    Or it could just be a sales ploy on the part of Mashley. We have a number of interested parties who have signed NDAs and are conducting due diligence on our books. Newcastle coming out and publicly announcing that there is interest from multiple parties will only serve to accelerate the plans of those who are currently doing the prep work.
    It is clear that Ashley wants shot of the club by the end of the year. I just really hope we can trust him when we says that he will only sell to the right investor to bring the club forwards and not only to the highest bidder.

    0
  • ArtyH

    Oct 17, 2017 at 9:14 AM

    Comment #5

    The whole thing stinks of fish, there has to be a catch somewhere ( no pun intended ). If you were going to buy a car and it had no log book, V5 but it had a good service record or mot, would you still buy it, chancing the police/insurance company would seize it from you? Police/Ins co read HMRC. The tax situation has not been resolved yet, and I read somewhere there were over £500m worth of transfers HMRC were investigating. If any of the transfers were suspect the club could be fined, or have points deducted or even like Rangers demoted, the media would love that, just think of the biased MOTD/$ky et al juicy coverage, would run for weeks.
    I most sincerely hope and pray I am wrong for the club and us fans.

    1
  • geordiemark

    Oct 17, 2017 at 9:39 AM

    Comment #6

    we have all been down this avenue with Ashley wanting to sell the club, when ever the going gets tough mr soft shite decides to sell, with the tax inspectors breathing down ashleys neck I just wonder if theres more bad news coming his way with his sports direct company and other companies he owns, if hes tried to cut corners with Newcastle united then god knows what hes been up to, somewhere along the line were in to get stitched up here I just do not trust Ashley as far as I could throw the bloke, I don’t know the laws or rules on a club being taken over and this tax investigation but to me the people who are involved with the tax avoidance should be dealt with and not the club itself if new owners come in and theres points deducted or demotion then its really unfair on them and us the fans as a whole really it wasn’t us nor them who put us in this shite in the first place why should we all suffer at the hands of total idiots

    0
  • geordiesteve520

    Oct 17, 2017 at 9:53 AM

    Comment #7

    Is the HMRC investigation into NUFC as an entity or the powers that be within the club. Would it essentially ‘go away’ if the club is sold and focus on the individuals involved rather than the club itself?

    0
  • Sav

    Oct 17, 2017 at 10:11 AM

    Comment #8

    Or to put it another way…’Mike Ashley won’t be spending a penny on transfers in the January window despite what he promised when Rafa got the club promoted 7 months ago’.

    0

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