Neil Mitchell is a Geordie who is a former Chairman of the NUST and now lives and works in Dubai and is an occasional writer for the Chronicle.
Neil has an excellent article out today in which he wonders exactly what happened with the BZG bid in the summer – which eventually went nowhere.
There remain many unanswered questions about what really happened with the BZG bid – but it now seems dead in the water
Neil Mitchell has also some interesting commentary and insight about the latest Peter Kenyon led bid backed by money from GACP Capital.
Peter Kenyon – leading a second bid to acquire Newcastle
One other notable item he writes about is about pitiful low commercial revenue – and that Newcastle United are NOT on the list of clubs Adidas is willing to sponsor.
So it seems we will likely remain with PUMA for a while.
Here’s a piece from the article:
“I was informed by someone with ties to Adidas here in the MENA region (Middle East and North Africa region) that Newcastle United are not in the group of teams they will be supporting and is why the Puma deal we have now is genuinely one of the better deals we could get.”
Mitchell is also very wary of the new deal that Peter Kenyon is the lead man pushing for a deal.
If the deal goes through, there will be dividends paid out to execs, interest to be paid on loans, and not much money paid out for transfers.
Also, those terrible SPORTS DIRECT signs that cover St. James’ Park will stay in situ for at least three years.
And apparently, if we are relegated, there is no additional money available to bolster a quick promotion.
We have been relegated twice (2009, 2016) from the Premier League.
And Newcastle have been promoted straight back in our very first season down below – back as Champions both times.
Another worrying piece from Mitchell’s article:
“Another thing intermediaries are saying – and I really hate to say this – but if the unmentionable happened and we did end up going down again into the Championship then this bid has no finance to bring us back.”
Neil Mitchell’s mantra about the Kenyon bid is to be careful what you ask for.
And even though it’s difficult to believe after 12 years of Mike Ashley running and ruining the club, things could be even worse.
Is that possible?
Fans will not want to hear this.
We have to hope and pray for the best and that some group – maybe not the Kenyon backed group – can buy Newcastle, even before the end of the year.
That would give us some real hope for the future – after 12 long, painful years.