Chris Hughton warns that NUFC squad is too small

Aug 26 2009 by Stuart Rayner, The Journal

North West-based businessman Geoff Sheard has been confirmed as the latest party interested in buying the club from Mike Ashley, but, having failed to complete a takeover of Sheffield Wednesday last year, doubts remain as to his financial wherewithal.

The brief comment from Newcastle’s managing director Derek Llambias was telling: “Geoff is dealing with Keith Harris (chairman of Seymour Pierce, the brokers handling the sale of the club) and we are still waiting for proof of funds.” Barry

Moat is also interested, but unless he or anyone else can secure the bank guarantees needed to push through a deal by the end of this week, Ashley may well take the club off the market for a second time in under a year.

Now United have lost their Premier League status, bankers Barclays have taken a harder line towards their overdraft. The Magpies’ £40m facility is said to be up for renegotiation next week and the bank’s policy towards Championship clubs is far less generous. It means the decision to sell players will be totally out of Hughton’s hands. The club have already raised £25m in transfer fees this summer and cut the wage bill by nearly £30m but more may still be needed with Steven Taylor, Jonás Gutiérrez, Fabricio Coloccini and José Enrique all attracting interest from rival clubs sensing a bargain.

“There’s no doubt the club will have the final say on who goes out,” Hughton admitted. “I can only reiterate what I’ve said – I would be happy to keep the squad we have at this moment (and add to it).”

Peter Løvenkrands remains an option after turning down a contract with Villarreal to try to remain in this country. The Danish forward spent the second half of last season on a short-term deal at Newcastle.

Since then the 29-year-old has been using the training facilities at former club Rangers to work on his fitness, and expressed a wish to return to St James’s Park.