web analytics



Consortium Releases Statement As The Premier League Wriggle Themselves Off The Hook



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.

Who Was Newcastle Player Of The 2019-2020 Season

View Results
Loading ... Loading ...

355 comments so far

  • Munster Mag

    Jul 30, 2020 at 6:50 PM

    Comment #321

    Tsunki 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.

    1
  • toon22

    Jul 30, 2020 at 6:50 PM

    Comment #322

    Munster

    Yeh its never the turds fault
    Him wanting more moneys just not like him

    Give over

    4
  • Kevin Vegan

    Jul 30, 2020 at 6:50 PM

    Comment #323

    Munster

    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?

    3
  • Munster Mag

    Jul 30, 2020 at 6:50 PM

    Comment #324

    We know you said it. Post away you vain prick

    1
  • Kevin Vegan

    Jul 30, 2020 at 6:51 PM

    Comment #325

    Seems 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.

    0
  • The mighty wyn

    Jul 30, 2020 at 6:51 PM

    Comment #326

    Leah- 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

    4
  • Munster Mag

    Jul 30, 2020 at 6:52 PM

    Comment #327

    Would you 3 fools just ever take a hike

    1
  • Kevin Vegan

    Jul 30, 2020 at 6:52 PM

    Comment #328

    I’ll happily dress as a tree if it helps 😉

    0
  • Mund

    Jul 30, 2020 at 6:52 PM

    Comment #329

    It’s funny how it’s the usual suspects giving abuse.

    2
  • ChicoUSA

    Jul 30, 2020 at 6:52 PM

    Comment #330

    No vote by other PL clubs, they would never want to go on record, No, just pressure and influence!

    7
  • lesh

    Jul 30, 2020 at 6:52 PM

    Comment #331

    Mund

    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.

    2
  • Harrogate mag

    Jul 30, 2020 at 6:53 PM

    Comment #332

    We on about trees again..lol

    1
  • Mund

    Jul 30, 2020 at 6:54 PM

    Comment #333

    Munster

    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

    2
  • peter5199

    Jul 30, 2020 at 6:54 PM

    Comment #334

    Kev…. what sort of tree? I live on High Pine Close so ……. and you could still be prickly

    0
  • magscar

    Jul 30, 2020 at 6:54 PM

    Comment #335

    If 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

    10
  • 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.

    7
  • lesh

    Jul 30, 2020 at 6:54 PM

    Comment #337

    ChicoUSA

    @239 Your probably correct and can we expect the birth of a European super league soon.

    1
  • Northumbrian

    Jul 30, 2020 at 6:54 PM

    Comment #338

    Liverpool 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.

    1
  • Mund

    Jul 30, 2020 at 6:55 PM

    Comment #339

    Lesh

    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

    0
  • Jamesthefirst

    Jul 30, 2020 at 6:56 PM

    Comment #340

    If she wins her case against Barclays she can afford to buy us outright and then sell shares to other investors.

    5
  • ChicoUSA

    Jul 30, 2020 at 6:57 PM

    Comment #341

    magscar @334
    Well said!

    1
  • peter5199

    Jul 30, 2020 at 6:57 PM

    Comment #342

    My puglet’s black and white harness is being replaced!

    2
  • lesh

    Jul 30, 2020 at 6:58 PM

    Comment #343

    The 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.

    1
  • chancel be a fine thing

    Jul 30, 2020 at 6:58 PM

    Comment #344

    It 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?

    4
  • ChicoUSA

    Jul 30, 2020 at 7:00 PM

    Comment #345

    lesh
    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!

    2
  • jimiley

    Jul 30, 2020 at 7:10 PM

    Comment #346

    Spot 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?

    8
  • MidlandsMag

    Jul 30, 2020 at 7:26 PM

    Comment #347

    Toon22 @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.

    5
  • Novocastrian66

    Jul 30, 2020 at 7:30 PM

    Comment #348

    How does one email the PL? Is there an address available. I want them to know how their actions during this process has disgusted me.

    1
  • canuckmag

    Jul 30, 2020 at 7:31 PM

    Comment #349

    Heartbreaking 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!

    9
  • Nufc Deceased.

    Jul 30, 2020 at 7:33 PM

    Comment #350
  • peter5199

    Jul 30, 2020 at 7:38 PM

    Comment #351

    How about 100,000 emails to info@premierleague.com
    easily accomplished if given oxygen

    Just sent one.

    2
  • peter5199

    Jul 30, 2020 at 7:40 PM

    Comment #352

    next door neighbour about to take on Cardiff. Fulham supporter tonight

    0
  • JohnJ

    Jul 30, 2020 at 8:05 PM

    Comment #353

    Mund

    Jul 30, 2020 at 6:01 PM
    Comment #179

    Thanks for YOUR input my friend – HWTL

    0
  • Bladey

    Jul 30, 2020 at 8:25 PM

    Comment #354

    I 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 %

    1
  • lochinvar

    Jul 30, 2020 at 10:20 PM

    Comment #355

    And 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?

    3
1 7 8 9


You must log in to post a comment.