Expert tells NUFC fans to be patient as finances are calculated

May 29 2009 by Mark Douglas, The Journal

Supporters may be growing nervous as they wait for Alan Shearer to be permanently appointed as Newcastle manager, but financial experts believe patience may be required as the club works out how to cushion the blow of relegation. Mark Douglas reports

AS Newcastle United’s embattled board continue to calculate whether they can afford to meet Alan Shearer’s list of demands, a city is holding its breath.

Nervous and possibly fearing the worst after a third day of deliberations passed without a positive pronouncement, United fans are excused their pessimism after a season with so few positives.

But a senior analyst with investment management firm Brewin Dolphin believes United fans have to be patient while the club works out a realistic way to absorb the financial hammer blow coming its way.

Newcastle-based expert Vinay Bedi believes while Shearer’s future is the priority, United will be weighing up the profound financial implications of the drop.

And with the club needing to fill a £30m hole left by the drop in TV revenue – as well as cut through an astronomical wage bill – Bedi says United supporters should be glad that time is being taken to sort these issues out.

It is understood that Shearer’s list of demands before signing a permanent deal includes a guaranteed transfer pot of between £10m and £15m. Owner Mike Ashley and chairman Derek Llambias would love to sign that off, but they are already grappling with the serious consequences of the drop and the matter is now in the hands of finance director John Irving, who has been number crunching for the past 48 hours.