Oh dear........ Snippet of Nufc.com, A tale that's been kicking around the city for a few days now has made it into print, courtesy of John Richardson, writing in the Sunday Express: The value of Newcastle United will be slashed by half – from around £200million to £100million – if the club is relegated to the Championship. Now there are fears among the Toon army that desperate owner Mike Ashley, who is also having a torrid time with his sports retail business, could stun the football world by taking the famous North East club into administration. When he decided to sell up, amid the furore of Kevin Keegan’s abrupt departure in September, it was believed that the sportswear magnate was hoping for a huge profit on his £230m investment. There was talk that the multi-millionaire was looking for a figure in excess of £400m. Now, with the credit crunch having undermined the world’s economy, financial experts have placed a value of around £200m on a club fighting for its Premier League life. A drop into the Championship would wipe another £100m off the asking price leaving Ashley in a financial hole. He announced at the end of December that he had taken the club off the market but it is believed that privately he is very much open to offers. They have not been forthcoming and that has led to informed chatter in the financial world that Ashley has not ruled out the stark threat of administration. It would only be implemented as a last resort and not until Newcastle’s Premier League destiny is decided. To call in the Receiver now would mean a likely nine-point deduction and almost certain relegation, something Ashley would not welcome through his desire to sell. The threat, however, will hang over the Geordies during the summer months that they could start next season minus nine points unless Ashley can attract a buyer. A worried insider admitted: “We are looking at a Leeds United scenario. I don’t think people realise how serious things are at St James’ Park. Relegation would make it a complete disaster.” Wow. If that doesn't cause the owner to break his silence, then nothing will. Looks like we HAVE to stop up.
I agree that the media spout more shite about Newcastle than anyone but have horrible gut feeling that for once this one might have some substance. Hope im wrong.....
as you'd expect Llambias has came out and rubbished this report. it would be interesting to know the REAL state of our finances. waether Ashley is really making any £££ or if wee are indeed truely fucked if we go down.
In a way I hope we fucking do go down to give this bastard club a reality check, get rid of the cunts that are there to do fuck all but collect huge pay packets & couldnt give a fuck about where our next points are coming from. If we could fill the team full of young talent, that will show heart & determination to try & get us straight back up into the Premiership I'd enjoy the match a hell of a lot more than the past few years. Rant temporarily over for now...
