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Posted

Just some info regarding latest devolpments.

Mega-money Dubai firm credited with Toon interest

By Chris Murphy

Updated: September 16, 2008, 10:25 PM UK

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Mike Ashley is quoting heavyweight investment firms in Dubai a whopping £480m to buy his stricken club, according to reports in the Middle-East.

Newspapers in the region claim Ashley's asking price is contained in documents handed over to Dubai"s Ruler Sheikh Mohammed bin Rashid Al-Maktoum.

Two firms have been credited with an interest in the North East club, which Ashley put up for sale on Sunday night after a wave of protests following Kevin Keegan's acrimonious departure from the club.

Zabeel Investments - currently building an eco-friendly hotel with Hollywood superstar Brad Pitt - and Dubai Investment Group are being considered to front any deal.

It is thought Ashley has set his price sky-high to enable room to manouevere if any serious negotiations develop.

According to the sale documents, Ashley wants to recoup his entire investment, plus take a massive profit.

"That price is just too much for this club, but we will see what happens and what offer can be made," a source close to the talks told Arabian Business newspaper.

Last year Al Hashimi revealed that Zabeel Investments had been part of the Dubai-led consortium that failed to buy Liverpool Football Club in February 2006.

The Dubai-based diversified investment company is focused on the areas of commercial real estate development and management, private equity and asset management across a wide range of economic sectors in the UAE.

Dubai Investment Group is part of Dubai Holding, it has invested in capital markets and real estate in the Indian sub-continent and South East Asia. Both companies are owned by Dubai's Ruler Sheikh Mohammed.

The club was not immediately available for comment.

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Posted

He wants 481m for it, he paid 130m for it and put in another 100m...just over a year ago

These Arabs have got money for sure , but they are not totally stupid.

They would also be fully aware that the club is in crisis, has no manager, protesting fans ...and are not doing very well in the league.

In a comparison it would be like me spending 10 baht on a bowl of rice thats spoiled when I could have paid 5 baht for a fresh bowl next door

Why on earth would I want to do that, even if I was told it had the potential to be the finest bowl of rice in LOS once I had eaten it !!!

You would think he would just be happy to get his investment back and walk away ...especially as he is saying that he can't go to games anymore with his family as he would be attacked, well after asking this amount for the club, he is just making a rod for his own back IMO. He will be even more DETESTED by the fans for trying to cash in on their misery.

What a <deleted> !!

Posted

Not a good time to be a Mike Ashley lookalike



MAN who is the spitting image of Mike Ashley was attacked in a pub after being mistaken for the hated Newcastle United owner.

Season-ticket holder Alan McKenna was enjoying a quiet drink with his cousins when another reveller swung for him - believing he was Mike Ashley.

The married father-of-two, a restaurateur from Low Fell, said: "As soon as I walked through the door of Chicago Rock Cafe in Chester-le-Street, I was approached by two guys.

"One of them said 'are you the owner of Newcastle United'?

"I knew there was going to be trouble because they seemed drunk and aggressive. They weren't joking about it.

"I just laughed, trying to make light of the situation, and said 'no'.

"But one of them said: "You f***ing liar," and went to throw a punch at me.

"He didn't manage to hit me because a couple of the lads I was with wrestled him away.

"I was shocked, I couldn't believe that someone would do that. But now it keeps happening."

Just a week later, at Saturday's home game against Hull, Mr McKenna was accosted in the toilets at St James' Park by another unhappy fan.

"I went to the toilets and while I was in there a guy came up to me and said 'how did you get in here you sneaky fat bastard'?"

Alan was shocked at the comment. He said: "I can't believe he called me that, I'm not even that fat."

The resemblance between the two men is striking.

Alan explained: "I met Mike Ashley in a lift at St James' Park last season. I said to him 'I know what you are thinking Mike, I think you are handsome as well'.

"We had a bit of a laugh and I met him again a couple of weeks later at the Fulham game.

"He was in a box and recognised the lad I was with in the lift. He went over and asked 'where is your cheeky friend'?

"I was downstairs in the Bamburgh Suite. My restaurant, McKenna's at the Northern Stage in Newcastle, had sponsored that game and Mike came down to chat to us.

"He stayed for about an hour-and-a-half, talking and having pictures taken.

"Mike was winding some girls up, saying that I was his brother. We had a laugh - he is a nice bloke and he has got a good sense of humour.

"Even his PR team had their pictures taken with me because they couldn't believe how much I looked like him.

"I have been mistaken for Mike Ashley quite a lot even though I don't think we are that similar.

"When he was popular, people would often come and pat me on the back if I was walking through Newcastle, telling me what a great job I was doing.

"But now the abuse has really started."

He added: "I think I'm going to have to get a Newcastle shirt with 'I'm not Mike' on the back.

"I never used to mind looking like Mike Ashley - but after all this abuse, I've changed my mind."

Posted
In a comparison it would be like me spending 10 baht on a bowl of rice thats spoiled when I could have paid 5 baht for a fresh bowl next door

Why on earth would I want to do that, even if I was told it had the potential to be the finest bowl of rice in LOS once I had eaten it !!!

Deeeep man...........! :o

redrus

Posted
He wants 481m for it, he paid 130m for it and put in another 100m...just over a year ago

These Arabs have got money for sure , but they are not totally stupid.

They would also be fully aware that the club is in crisis, has no manager, protesting fans ...and are not doing very well in the league.

In a comparison it would be like me spending 10 baht on a bowl of rice thats spoiled when I could have paid 5 baht for a fresh bowl next door

Why on earth would I want to do that, even if I was told it had the potential to be the finest bowl of rice in LOS once I had eaten it !!!

You would think he would just be happy to get his investment back and walk away ...especially as he is saying that he can't go to games anymore with his family as he would be attacked, well after asking this amount for the club, he is just making a rod for his own back IMO. He will be even more DETESTED by the fans for trying to cash in on their misery.

What a <deleted> !!

have you ever been in one of mike ashley's sport direct shops though? they're a perfect analogy for how he's trying to flog newcastle. loads of over-priced tat marked up at one exorbitant price with a great big sticker on saying '70% off!!!!!'. so his advertising the club at 480m means he'll take about 140m. :o

Posted

And now David O'leary could be going to Newcastle :D . I think it's a perfect mix. :o

I love Newcircus, they give such good value in being a club that seems to lurch from one <deleted> up to another. I can't wait for the developments on this latest story.

Posted
it's pretty ridiculous that keegan is still the bookies' favourite to be the next newcastle manager.

I think Mike Bassett would be the most suitable. :o

Posted

Beardsley backs besieged Ashley

By Matt Slater

Beardsley says Ashley deserves better from the Newcastle support

Newcastle legend Peter Beardsley has told Geordie fans to lay off under-fire owner Mike Ashley and thank him for reducing the club's debts.

Ashley put Newcastle up for sale this week when protests revealed the extent of his unpopularity.

But Beardsley, who enjoyed two great spells as a Newcastle player, believes Ashley has been harshly treated.

"He didn't come here to fail and he has put a lot of money into the club, so credit to him," said Beardsley.

"Unfortunately, it hasn't worked out but I'm a little bit disappointed he has to walk away.

"His heart was in the right place. Maybe he didn't always show it in the right way but I think he really cared about Newcastle."

A successful businessman in the sportswear sector, Ashley has found sporting success harder to come by.

Ashley might be at the club a while yet - he should be allowed to watch the games

Peter Beardsley

The 45-year-old completed his purchase of the Tyneside outfit in July 2007 and has invested almost £250m of his estimated £1.4bn fortune in the club.

A large chunk of that has gone on reducing Newcastle's previously alarming debts, although he has also made considerable sums available for transfers and wages.

Forced by supporter unrest to sack Sam Allardyce as manager in January, Ashley appeared to have secured some breathing space when he handed the reins to fans' favourite Kevin Keegan.

But results on the pitch did not improve drastically and off-field tensions between the manager and the continental-style structure Ashley put in place around him to handle transfers and scouting led to Keegan's resignation earlier this month.

Fans did not take long in deciding who to blame and Ashley, who was born in Buckinghamshire and lives in Hertfordshire, became a target for growing dissent.

Matters came to head last Saturday when a depressing home defeat to Hull City was almost a sideshow to vociferous protests against Ashley, executive director Dennis Wise and the rest of the board.

The following day, the supporters got their wish when Ashley, who has been a regular at St James' in his replica shirt, issued an emotional press release stating his intention to sell.

606: DEBATE

If he'd have come out with something like this sooner it may never have come to what it has

Mirandinha

"I am not stupid and have listened to the fans," the entrepreneur said.

"I am now a dad who can't take his kids to a football game on a Saturday because I am advised we would be assaulted.

"Therefore, I am no longer prepared to subsidise Newcastle United.

"I am putting the club up for sale. I hope the fans get what they want and the next owner is someone who can lavish the amount of money on the club the fans want."

But Beardsley, who received a Football Foundation award on Thursday for his community work for Newcastle, regrets the manner of Ashley's departure.

"Ashley is trying to do the right thing," said the 47-year-old.

"He's always tried to do the right thing, but it's hard, because Newcastle is Newcastle and unless you're used to that part of the world it does take a bit of getting used to.

Keegan's exit was the final straw for many Newcastle fans

"I feel a sorry for him. But he'll sort it out and hopefully everybody will be happy with the conclusion."

The former England star said he understood why the fans were upset with the situation and praised their support for the club.

"We have a passion that probably isn't equalled anywhere," he said.

"If you look at the lack of success - and that's not Mike's fault - the support is unbelievable. They've been there through thin and thin.

"I don't think the fans are the problem - they care. They used their power and Mike has decided to walk away. But I think that's a shame, I really do."

Any sale of the club, however, is dependant on Ashley finding a buyer, and that might take some time.

With an asking price in excess of £480m, Ashley does not give the impression of a man looking for a quick sale and a trip to Dubai this week interested the British media more than any potential buyer.

"Ashley might be at the club a while yet," admitted Beardsley.

"And if he is he should be allowed to watch the games. It's his club and he has spent a huge amount trying to make us a force, first by clearing debts and then for transfers.

"It might not even be too later for Mike. If he brings success as an owner the fans could still forgive him. Geordies are like that."

Posted

Who would buy Newcastle United?

Analysis

By Bill Wilson

Business reporter, BBC News

Mike Ashley took control of Newcastle in May 2007

Newcastle United owner Mike Ashley has discovered that in today's Premier League it is not enough to be an ordinary billionaire owner, you have to be a multi-billionaire.

Mr Ashley, who made his money through his Sports Direct retail empire, went from recluse to beer-drinking "man-of-the-people" and now it seems, recluse again, in the face of Geordie fan fury at Kevin Keegan's going.

Expectations of big spending are always high in Newcastle, but not any more so than at the likes of Liverpool - where fans are also calling for funding to compete financially with the Manchester clubs and Chelsea.

Mr Ashley - who bought the club for £134m in May 2007 - had been offering to bankroll the club to the tune of £20m a year.

In his emotional statement putting the club up for sale he also said he had paid off £110m of debt and was still paying the debt.

'Going nowhere'

However the 43-year-old admitted in a club magazine article that he did not carry out due diligence on the club and its debts before his takeover, which was completed in just five days.

When he did look at the books - of a club which had net debts of £70m in 2007 - he found that it owed £27m in transfers and had taken its major sponsorship payments upfront rather than in instalments.

I knew the club would cost me money every year. I have always backed the club with money

Mike Ashley

Mike Ashley statement

"He bought a club that was financially going nowhere, with debts increasing as player transfers had built up, and money was owed to other clubs in lieu of those transfers," says Vinay Bedi, a soccer analysts at stockbrokers Brewin Dolphin in Newcastle.

"It was a difficult situation - it was hard to see how the club could be turned round quickly without a huge injection of cash.

"He is saying he is putting in £20m a year, but that is totally unrealistic when there is the ongoing debt."

As Mr Bedi observes: "You really have to be a multi-billionaire to buy a Premier League club these days - for the purchase, clearing the debts, and moving the club forward."

Current value

Despite accruing cash from match day revenues, commercial deals, and TV revenues, the latter dropped by £16m for Newcastle between 2003 and 2007, and turnover was also down.

Potential money spinner - St James's Park, home of Newcastle United

The club is now looking for its eighth manager in 10 years - a debilitating cycle of regular payoffs to the axed managers, and with every new incumbent demanding a sizeable transfer kitty to bring their own players into St James' Park.

Mr Bedi says: "I would not say Newcastle United's value is more than £250m, maybe up to £300m, depending on how the debt is positioned now".

So, who would want to buy such a club, which has made a habit of limping from crisis to crisis?

Quite a few is seems. Even loaded with debt, the club is still a potentially attractive proposition and has been linked to a number of potential suitors at home and abroad.

When you look at the opportunities to owners from merchandising, commercial opportunities, match day income and the TV money, then Newcastle United is a very attractive proposition

Alex Fynn, football business consultant

The club has been linked with Dubai International Capital, who were leading the race to buy Liverpool until they were bought by Tom Hicks and George Gillette, however the group has said that it is not looking to make a fresh bid for any club.

Members of Mr Ashley's hierarchy were reported to be in Dubai over the weekend.

Another potential buyer is said to be Chinese property billionaire Xu Rongmao - chairman of Shimao Group - who is reported to have plans to expand St James' Park and the surrounding city centre area.

A group of North-East businessmen are also said to be examining the possibility of buying Mr Ashley out.

Fan ownership?

Some fans have launched a Save Newcastle website, which "proposes a serious discussion about the issue of fan ownership of the club".

They have launched a website in the past week, which does not want to go down the path of billionaire or overseas ownership.

Fans protested at the weekend over Kevin Keegan's departure

Group co-ordinator Peter Williams, says: "The reason I started the website was because I believe and have believed for a long time that fan ownership would provide Newcastle United with the stability that it has so desperately lacked for so long.

"Newcastle has one of the largest fan bases in England but has consistently preformed at a level below teams with much smaller fan bases. I think this is largely due to the instability that the previous owners have brought to the club."

'Pure profit'

Meanwhile Alex Fynn, a football consultant who has worked with a number of Premier League clubs, is clear about the commercial and other attractions of Newcastle United to a potential billionaire buyer.

He says: "It is the attraction of the TV deal, with the realisation that top-level football in England is something different from other countries - England has the biggest domestic TV football deal in the world."

Newcastle United: "Mid table team but top of table support"

Mr Fynn said the current TV deal, which includes the domestic agreements with Setanta and Sky as well as overseas deals, is worth £2.7bn.

"That is pure profit, money that goes straight to the bottom line," he says.

"The deals also mean that Premier League football is broadcast in over 200 countries worldwide, which can give you a great profile - either personally or for your company."

'Attractive proposition'

Mr Fynn says that another attraction to buyers is that regulation in England regarding the takeover of sports clubs is "much more lax" than elsewhere.

"It is much more open to come in and take over a football club. Newcastle United, despite their troubled history, will offer potential to any investor who wants to get involved, because of those reasons," he says.

"It is a middle of the table football club in terms of playing performance, but top of the table in terms of support.

"When you look at the opportunities to owners from merchandising, commercial opportunities, match-day income and the TV money, then Newcastle United is a very attractive proposition."

Meanwhile those loyal fans are hoping that some much-needed stability will be arriving in the club boardroom in the coming weeks.

Posted

By JIMMY GREAVES

Published: Today

LIKE all true football fans, except those in Sunderland, I take no pleasure in Newcastle’s plight.

I know their fans find it patronising when people say things like ‘great club’, ‘deserve success’ and all that, so I won’t ... even though it is and they do!

The outpouring of vitriol that accompanied Kevin Keegan’s latest walk-out has been without precedent.

Yet there is something really nagging me about this whole thing. Something that is almost sacrilegious to think or even say in The Toon.

But I can’t help but question Keegan’s part in this whole fiasco.

Basically Newcastle are worse off now with Keegan having come and gone than if he’d never returned.

Keegan bangs on about the club and fans he loves. Yet look what his walk-out has done to both. Was he thinking about them when he walked out or was he thinking about Kevin Keegan?

No doubt having Mike Ashley as owner and Dennis Wise as director of football must have been trying. Yet if I took on a manager who had not seen a football match in three years I may have got someone in to source players.

Wise clearly was the wrong choice. Yet all the traits that marked Keegan out as one of England’s greatest players have deserted him.

As a player Keegan never backed off a challenge. He left Liverpool when they were European champions for Hamburg — and was then crowned European Footballer of the Year in consecutive seasons.

He spurned the big clubs to join Southampton, then took on the fight of dropping down a division to resurrect Newcastle.

No obstacle was too great. Yet in his managerial career it seems when the going has got tough he has just got going.

He had a decent team at Newcastle. If players were being sold from under him that’s wrong. But would it not have been better for him to have fought from a position of power as saviour and still the manager?

He has been backed in his actions by many for standing up for a point of principle.

But working life is never plain sailing for any of us. Do we just walk when the boss turns against us or do we stay and fight?

For the fans’ sake Keegan should have stayed and fought.

JIMMY GREAVES was talking to NEIL CUSTIS

Posted

By GARY PAYNE

Published: Today

OBAFEMI MARTINS fears the growing crisis at Newcastle could lead to a player exodus.

The Toon striker has broken the silence to speak out against owner Mike Ashley.

He insists the players are ‘shocked’ and ‘depressed’ by Kevin Keegan’s controversial exit.

Ashley is now frantically trying to sell the club while searching for a new manager.

But Nigerian ace Martins, 23, says Keegan might not be the only person to go and he admits he is one of several players considering their futures.

Ahead of today’s trip to West Ham, Martins said: “Yes I have been thinking deep about my own career. But I will never let that affect my game because I have to give my all.

“Everyone is entitled to their own decision and career. Events like this will only trigger speculation.

“If the players are determined to succeed they will not allow what just happened to bother them. But nothing will surprise me in the coming months.”

Martins, who has played under three managers since joining Newcastle from Inter two years ago, admits Keegan’s resignation ripped both the squad and Toon fans apart.

But he praised skipper Michael Owen for keeping morale up and insists Newcastle could yet salvage a European spot.

He said: “No one is happy about the situation but Michael has been rallying the players together.

“I know if we get other injured players back we can ride the storm and give the fans an opportunity to believe in this great club once more. We should focus on the games ahead.

“A place in the UEFA Cup is not beyond this club.”

He added: “Kevin’s departure came as a rude shock. I don’t know what led to it but it’s a huge setback.

“For the fans it’s a huge blow and you can see how they expressed their anger, putting the pressure on the owner.

“They truly love and admire Kevin Keegan. I feel so much for the fans because they don’t deserve it.”

Martins added: “I don’t know who’s to blame. The only losers are the fans and the players.

“It’s normal that players feel depressed. We all like him as a manager.

“In my opinion we have a good squad of players who showed against Manchester United that we can break into the top seven.

“Personally it has been frustrating for me as I’ve been injured. I’m just looking forward to getting back.”

Posted

Venables turns down Newcastle job offer

By Soccernet staff

Updated: September 25, 2008, 9:36 PM UK

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Terry Venables has rejected the chance to manage Newcastle United after a second day of talks in London.

Empics

Venables: Not happy with Toon offer

It is understood that the former England manager was unhappy with owner Mike Ashley's offer of the manager's role on a match-by-match basis, preferring a longer-term contract.

The news is expected to be broadly welcomed on Tyneside with scpetical fans viewing 65-year-old Venables as another addition to the 'cockney mafia' running the club.

The popularity of London-based vice-president Tony Jimenez, managing director Derek Llambias and executive director Dennis Wise reached an all-time low with Magpies fans after Kevin Keegan was ousted from the manager's seat earlier this month.

With Ashley courting suitors for a potential £350 million takeover Newcastle are only looking to secure an interim manager, not a long-term appointment.

Just 20,577 fans were at St James Park on Wednesday night to watch Newcastle slip out of the Carling Cup to holders Tottenham, when defensive errors and a clear lack of confidence amongst the players allowed Spurs to put their own woes behind them.

The Magpies face Blackburn in the Premier League on Saturday when the rebellion against Ashley is likely to increase in volume if they do not end a run of four successive defeats in all competitions.

Investment bankers Seymour Pierce are currently looking for buyers for the club with a Nigerian consortium emerging as a frontrunner. The Nigerian group have curried favour with large sections of the club's support by hinting that they will restore Keegan to his post.

However, Seymour Pierce are understood to be assessing the credentials of several potential buyers - there have also been links with Chinese, American and local investors.

That process, which will depend largely on the willingness of interested parties to meet the asking price will take time, and there is little prospect of a sale going through within days.

Indeed, the speed with which Ashley tied up his own swoop without conducting due diligence may serve as a salutary lesson for those looking to succeed him after he found himself facing a series of unexpected bills.

But the need to provide Hughton with experienced support is becoming more urgent by the day with the Magpies' tailspin threatening to accelerate.

Posted

Newcastle turn to O'Leary after Venables snub

By Soccernet staff

Updated: September 26, 2008, 8:54 AM UK

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Managerless Newcastle United are set to turn their attention towards former Leeds United and Aston Villa boss David O'Leary after Terry Venables turned down the job following a day of intense negotiations.

Former England manager Venables revealed the reason he turned down the chance to become Newcastle's interim manager was because the club "means too much to too many people'' to agree to a match-by-match deal.

With embattled owner Mike Ashley looking to sell his ailing club as soon as possible Venables could have been relieved of his job at any time.

The 65-year-old former Barcelona boss admitted he would have been interested in taking the job on a long-term basis and described himself as "honoured'' to be approached about the post, which was vacated when Kevin Keegan departed in acrimony earlier this month.

Venables told The Sun: "There is one reason and one reason alone why I've turned down the chance to take temporary charge at Newcastle - time.

"Newcastle United means too much to too many people to take the job on a short-term basis. It demands total commitment and dedication from a manager who is prepared to throw himself heart and soul into the club.

"I didn't want to move up to Tyneside and find myself surplus to requirements before I'd even had the chance to get my teeth into the challenge.

"The way the job was offered to me meant that I might be working at St James' Park for two months, two years - or two weeks. There was far too much uncertainty involved.''

United had identified Venables as the man to steady the ship after a disastrous series of bad results and fan protests, possibly looking to a similar firefighting role he performed at Middlesbrough eight years ago.

But Venables believes such a job in not viable given the uncertainty engulfing the club.

"I was ready and willing to give it a real go but I was never offered the chance to do that,'' he added.

"All they could guarantee was that I'd be in a job until Mike Ashley sells the club whenever that might be. As flattered and honoured as I was to be approached by Newcastle, in the end it wasn't that difficult a decision for me to decline their offer.

"The Newcastle supporters have suffered more than enough in recent years. I didn't want them to think I'd gone up there just to pocket a few quid from Mike Ashley and then wave 'cheerio' a couple of weeks later.''

Newcastle will now turn to their second choice having been snubbed by Venables.

Glenn Hoddle was one such target but the former England manager is committed to developing his football school in Spain and it would seem that O'Leary, who has been out of work since leaving villa in 2006, has become the favourite.

The Irishman is eager to get back into football and may well accept a short-term deal as, at worst, a stepping stone to a more stable managerial job.

Posted

The Toon Army are the proble, they always cause bloody problems so no wonder theit club goes no where. They should just sit down and shut the fuc_k up in my view. Too much power to the people shit up there !

Posted
The Toon Army are the proble, they always cause bloody problems so no wonder theit club goes no where. They should just sit down and shut the fuc_k up in my view. Too much power to the people shit up there !

Absolutely. This nonsense with driving out Ashley because he won't let Keegan squander his fortune is outrageous.

Posted

I can only imagine a Nigerian Consortium will make our Kia Joobachian look whiter than white...

Joe Kinnear being appointed is a joke, but no one seems to want to go there & i can't blame them..

The ^^ is right, the Fans are the problem, FAR too much expectation & delusion. Just look at them, they still think that Kevin Keegan is the answer to all their problems & he certainly isn't & with delusion like that, how can anyone win up there ??

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