Pivotal point for Moat's NUFC bid

Aug 15 2009 by Luke Edwards, The Journal

BARRY Moat has informed Alan Shearer his bid to buy Newcastle United will either succeed or fail at the start of next week as he tries to persuade the banks to loan him the money needed to complete a takeover.

Shearer urgently contacted the Tyneside businessman on his return from a family holiday yesterday following reports Joe Kinnear is set to be appointed Magpies manager.

Significantly, Shearer believes Kinnear will take the job next week if Moat can not reach an agreement, even though the former Wimbledon man criticised United supporters over the summer for attacking owner Mike Ashley and mocked their hero-worship of Shearer and former manager Kevin Keegan. Shearer is increasingly alarmed by recent developments at St James’s Park and fears his attempt to become permanent manager could be doomed as Ashley prepares to take the club off the market for the second time in eight months.

Despite receiving assurances from Moat that he is still frantically trying to complete a takeover, the chairman of his testimonial committee has also warned it could be derailed by the banks.

Moat has been looking for additional financial backing after he was named by Seymour Pierce, the bank in charge of the sale process, as the preferred bidder, but has so far failed to raise it in full.

With Ashley’s patience running out, the deal is hanging by the slenderest of threads with a source close to Shearer insisting last night that Moat will either be “in our out in the next five days.”

The source added: “Alan is worried about the recent news because it looks like Ashley (pictured right) will take the club off the market and appoint his own manager. He has been told Joe will be appointed next week if Moat cannot do something about it.

“When he talked to Barry Moat he was told they are still negotiating with the banks but time is running out. Moat has said he will either be in or out in the next five days.”