So Newcastle fans have suffered another gut punch just over a year after the last one when Rafa Benitez left the club and an earlier proposed takeover was found out to be much ado about nothing.
Now, after months of speculation that a deal was almost certain. The Saudi-backed consortium has pulled out of their attempted takeover of our beloved club. This drops Newcastle well past square one, and into negative territory. The club has been left behind and must now scramble to get itself on track for the coming season.
The Chronicle has published the following statement from the consortium on why they felt there was no path forward in their bid for Newcastle:
“”With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.
“We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the Club to the position of its history, tradition, and fans’ merit.
“Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable.
“To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.
“As an autonomous and purely commercial investor, our focus was on building long-term value for the Club, its fans and the community as we remained committed to collaboration, practicality, and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the Club.
“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the Club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities.
“As often occurs with proposed investments in uncertain periods, time itself became an enemy of the transaction, particularly during this difficult phase marked by the many real challenges facing us all from Covid-19.
“We feel great compassion for the Newcastle United fans with whom we shared a great commitment to help Newcastle United harness its tremendous potential and build upon its impressive and historic legacy while working closely with the local community.
“We would like to say that we truly appreciated your incredible expressions of support and your patience throughout this process.
“We are sorry it is not to be. We wish the team and everyone associated with it much good luck and success.”
Interestingly, this statement confirms that the ‘commercial agreement’ between the consortium and Mike Ashely expired. This was first reported by The Telegraph’s Luke Edwards a few weeks ago. So maybe there’s something to the Henry Mauriss and Clear TV angle.
The statement also cites the uncertain conditions surrounding the Premier League for next season due to the coronavirus. However, it’s ultimately the prolonged owners’ and directors’ test that has doomed this takeover attempt.
The Investment Group could have made provisions to accommodate any uncertainties surrounding next season had they been afforded the time to do so. However, the Premier League did not want to make a decision as they were in a no-win situation.
So like gutless dithering cowards they let the process linger with the hopes that it would just go away. They got their wish but at what cost to Newcastle United.
This action by the league is truly disgraceful and they have shown their utter disregard for Newcastle United and its fanbase.
But now we must begrudgingly continue to plod forth on this familiar path. We cannot allow any new seeds of contempt to blossom and further impact our faith in this club.
We must back Steve Bruce and the players and continue to hope that someone somewhere comes to the rescue of Newcastle United.
355 comments so far
Munster Mag
Jul 30, 2020 at 6:50 PM
Comment #321Tsunki you are self justifying again. They spent billions on all sorts. They money is a red herring. I think they got sick of being taken for a ride and pulled out before it became even more embarrassing for them.
toon22
Jul 30, 2020 at 6:50 PM
Comment #322Munster
Yeh its never the turds fault
Him wanting more moneys just not like him
Give over
Kevin Vegan
Jul 30, 2020 at 6:50 PM
Comment #323Munster
Plenty of others have also mentioned a boycott on here.
It’s a great idea.
Why not join us and help get Ashley gone once and for all?
Munster Mag
Jul 30, 2020 at 6:50 PM
Comment #324We know you said it. Post away you vain prick
Kevin Vegan
Jul 30, 2020 at 6:51 PM
Comment #325Seems like there’s a lot of support for it. Does anyone know if any of the old boycott groups are still active? It would be good to have somewhere to organise and promote the message.
The mighty wyn
Jul 30, 2020 at 6:51 PM
Comment #326Leah- they don’t but I reckon the league will listen to them
Didn’t somebody on here a couple of days ago that he had heard from someone high up in the game that ashley was responsible for the latest delay. Would it in with the current rumours about renegotiating
Munster Mag
Jul 30, 2020 at 6:52 PM
Comment #327Would you 3 fools just ever take a hike
Kevin Vegan
Jul 30, 2020 at 6:52 PM
Comment #328I’ll happily dress as a tree if it helps 😉
Mund
Jul 30, 2020 at 6:52 PM
Comment #329It’s funny how it’s the usual suspects giving abuse.
ChicoUSA
Jul 30, 2020 at 6:52 PM
Comment #330No vote by other PL clubs, they would never want to go on record, No, just pressure and influence!
lesh
Jul 30, 2020 at 6:52 PM
Comment #331Mund
I don’t share your optimism but really do hope that Amanda does pull in some big-time investors.
If, if Ashley’s attempt to squeeze another £40m from the buyers was real, then one can only hope that she’s prepared for more of his shenanigans.
A real sickened and I’d imagine some #cans’ll be opened tonight albeit for the wrong reasons.
Harrogate mag
Jul 30, 2020 at 6:53 PM
Comment #332We on about trees again..lol
Mund
Jul 30, 2020 at 6:54 PM
Comment #333Munster
Don’t engage mate it’s designed to keep you going.
Don’t read the posts mate much more peaceful and at a time like this very much needed
peter5199
Jul 30, 2020 at 6:54 PM
Comment #334Kev…. what sort of tree? I live on High Pine Close so ……. and you could still be prickly
magscar
Jul 30, 2020 at 6:54 PM
Comment #335If anyone hasn’t noticed yet as NUFC fans of either persuausion on takeover we are all in this mess together.
If anyone wants to take refuge in i told you so then I hope it manages to assuage for you some of the devastation that all fans are surely feeling
Let’s keep the anger for the ones who are truly responsible for the mess we are in- and it’s no one on here
Jamesthefirst
Jul 30, 2020 at 6:54 PM
Comment #336@lochinvar
Nobody is sure he is a real player. At no point did he bid even when he first emerged on the scene in November. It was only when Ashley was trying to price hike the deal that his name got mentioned again.
Staveley has my full respect. She is sick of the corporate corruption at the top, hence suing Barclays. He sues Barclays? That takes nerves of steel.
She will be back for the club. Certain of that.
lesh
Jul 30, 2020 at 6:54 PM
Comment #337ChicoUSA
@239 Your probably correct and can we expect the birth of a European super league soon.
Northumbrian
Jul 30, 2020 at 6:54 PM
Comment #338Liverpool spurs wolves west ham Everton and up to two BOARD MEMBERS with a vote at the EPL objected to the takeover as is their right as EPL members.
Mund
Jul 30, 2020 at 6:55 PM
Comment #339Lesh
It’s a sickener mate it really is but I haven’t give up hope of being rid of Ashley just yet and I think there is a lot more to this that will come out
Jamesthefirst
Jul 30, 2020 at 6:56 PM
Comment #340If she wins her case against Barclays she can afford to buy us outright and then sell shares to other investors.
ChicoUSA
Jul 30, 2020 at 6:57 PM
Comment #341magscar @334
Well said!
peter5199
Jul 30, 2020 at 6:57 PM
Comment #342My puglet’s black and white harness is being replaced!
lesh
Jul 30, 2020 at 6:58 PM
Comment #343The mighty wyn
I didn’t see your post before I responded to Chicousa’.
Yup, the so called ‘bigger clubs’ will certainly have an interest until they’re ready to leave the EPL to join a super league.
chancel be a fine thing
Jul 30, 2020 at 6:58 PM
Comment #344It sounds like a tag team effort, PL delay and delay until exclusivity is over and then Mikey throws in the big spanner. Mikey could probably get more from Qatar and the big 6, than for selling the club.
How’s that one Jib?
ChicoUSA
Jul 30, 2020 at 7:00 PM
Comment #345lesh
Yes, once this virus is defeated by vaccine or very effective treatment, then a super league and any other moves the other greedy clubs can do to make more £, $, € will follow!
jimiley
Jul 30, 2020 at 7:10 PM
Comment #346Spot the spectator in st James.
I suppose there are die hards giving Mike their money.
Remember. This club is finished and will never win anything.
Support the team not the regime.
Dullards
Next up freebies and loanees. Lots of 11 in box football and relegation. That’s nailed on. Where’s that fella maxim gone?
MidlandsMag
Jul 30, 2020 at 7:26 PM
Comment #347Toon22 @321
If they had not delayed the decision so much then Ashley wouldn’t have had the chance to up his price. I would be surprised if he did as he would surely realise it would be the straw that broke the Saudis’ backs.
I have sent an e-mail to the PL.
Novocastrian66
Jul 30, 2020 at 7:30 PM
Comment #348How does one email the PL? Is there an address available. I want them to know how their actions during this process has disgusted me.
canuckmag
Jul 30, 2020 at 7:31 PM
Comment #349Heartbreaking for the region and especially the City. Don’t let anyone outside of the North East pretend that they care one jot about us, they either want our votes, our money or our subservience. Stitched up like kippers, false hopes, false promises and that goes for Sunderland, Boro, Hartlepool, Darlington and even Durham Cricket. The Premier league have screwed us over big time it’s all about money they can all shove it. I had the pleasure of cancelling Sky and BT earlier, told them sick of the bullshit, greed and politics, not paying for this anymore. As you can tell I am gutted!
Nufc Deceased.
Jul 30, 2020 at 7:33 PM
Comment #350Novo
info@premierleague.com
peter5199
Jul 30, 2020 at 7:38 PM
Comment #351How about 100,000 emails to info@premierleague.com
easily accomplished if given oxygen
Just sent one.
peter5199
Jul 30, 2020 at 7:40 PM
Comment #352next door neighbour about to take on Cardiff. Fulham supporter tonight
JohnJ
Jul 30, 2020 at 8:05 PM
Comment #353Mund
Jul 30, 2020 at 6:01 PM
Comment #179
Thanks for YOUR input my friend – HWTL
Bladey
Jul 30, 2020 at 8:25 PM
Comment #354I said six weeks ago that players like Colback should have there contracts extended and give a big incentive to crouchy to leave his tv work and sign a five year contract now some of you will be thinking 5 years is a bit to long but if they give andy another 4 years well what a strike force the cabbage could have
I can see your minds working overtime
What about our scintilating football you say
I say you cannot beat the long ball it will come back
I am sure pep has had some sleepless nights about changing his tactics and has had a go at Kevin d b for playing those silly little passes
Anyway good luck to jib and his decrepid band of season ticket holders for the relegation season give big mike a wave for me when he attends his first match
I know 35 million has been touted for players this season that should buy us one of man cities reserves unless we sell all 11 of our first team then maybe we can have two of there reserves
Once again I am gutted that we did not become the richest club in the world it would have been some rollercoaster
But cheer up fighting for 4th bottom year after year will also be exciting
Ta ta for now
ASH OUT BRUCE OUT TAKEOVER NOT 99 AND THREE QUARTERS AGAINST BUT FINALLY I CAN SAY MIKE ASHLEY IS ON THE PITCH THE FANS THINK ITS ALL OVER IT IS ON 100 %
lochinvar
Jul 30, 2020 at 10:20 PM
Comment #355And just how much scrutiny would Levy’s business dealings at Spurs stand up to? Haven’t they recently done a deal to sell some of their investment in their new sparkly stadium.
Liverpool are not without scrutiny.
Russians at CHELSEA. Abramovic is barred from a UK vias but owns Chelski. Remember John Alder and Liam Sweeney?
China is sterilising Uighur women and banned some opposition party members from taking part in Hong Kong elections. Buy hey the Chinese are not involved in football are they?
Still the FA and EPL wander around in the all together.
King’s clothes anyone?