Mike Ashley sets a D-day as NUFC sale talks stall

Nov 1 2008 by Dan Warburton, The Journal

NEWCASTLE United fans reacted angrily last night to news that a series of possible take-over bids had stalled.

At a Press conference yesterday it emerged three interested consortiums had approached the club with the intention of taking over the reins at St Jamess Park.

However, all the possible buy-outs have faltered as interested parties failed to stump up the cash.

A spokesman from investment bankers Seymour Pearce who have been charged with off-loading the club on behalf of Mike Ashley said there had been a slump in interest from prospective buyers.

Interim manager Joe Kinnear also revealed that crunch meetings will be held following the teams trip to Chelseas Stamford Bridge ground in London on November 22.

It is thought the clubs most senior hierarchy will be in attendance to thrash out any future plans for the troubled club.

That will include the likes of Kinnear, Ashley, managing director Derek Llambias and technical director Dennis Wise.

But last night supporters groups expressed concerns about the length of time it was taking to find a new owner inside St Jamess Park.

Frank Gilmore, chairman of the Newcastle United Independent Supporters Association, said that if the current structure was still in place during Januarys transfer window the club would struggle to attract new talent.

He also expressed concern that Ashley would try to off-load valuable assets in a bid to maximise his profits from his spell at the club.

Mr Gilmore said: Theres no way Ashley will want anything other than cash. That poses a number of problems because he will be willing to sit on the club until he gets what he wants.

The one thing Im worried about is when we get to the transfer window and theres no money in the pot.

Even if a buyer came in now its still going to take a while for everything to go through.

If they cant strengthen the team then that will be a worrying time, and I think Michael Owen will be put up for sale.

Ashley wont put money into the club because there wont be a similar return when he sells it.

It is nearly seven weeks since under-fire owner Ashley bowed to furious fan pressure and put the club on the market.

Fans staged angry protests following Kevin Keegans acrimonious departure on September 4 following rumours of a bust-up over the club management structure. Since then much speculation has circulated concerning possible takeover bids from interested parties across the globe, with nothing yet to materialise.

Last night Steve Wraith, former fans liaison officer and editor of the Players Inc fanzine, said it was a frustrating time for fans but called for patience as the club looks for possible buyers.

He said: I think people are getting frustrated but its not something that was going to happen overnight. Anybody who watches football on a day-to-day basis will know it is going to take time.

People havent got the same kind of money they used to have. But it will probably happen out of the blue.

One concern is that its only two months before the transfer window and people are worried about what will happen during that period.

Its not really clear whats going on but Kinnear has done a good job of protecting the players.

After the row with the Press hes created a siege mentality among the team and its obviously helped.

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