Toon Takeover AGAIN GLENN ROEDER will get a huge transfer war chest if the £227million sale of Newcastle goes through. Toon boss Roeder can expect a £20m windfall should American financiers Polygon and the United Bank of Switzerland complete the New Year deal. Chairman Freddy Shepherd and the Hall family will also be huge winners. Shepherd will pick up £20m from the deal while former owner Sir John Hall and his son Douglas should scoop around £48m. Sir John paid £3m for the Toon in 1991. It will be another Premiership club takeover by foreign backers. They have pledged NOT to get involved in the playing side — unlike new West Ham supremo Eggert Magnusson, who sacked boss Alan Pardew this week.
was on gmtv this morning .... anyone know much abouth there other investments ? there not a glazer type business are they ? i want cash off them like but not if there gonna debt us up to the rafters ! (we allready are ) haha
This has been denied by both the board and the stock exchange! But that's 3 interested parties now so it seems quite likely it'll happen before the transfer window
Owned by Reade Griffith, a secretive American financier who, like the Glazer family with Manchester United, has shown no previous interest in English football, Polygon's UK headquarters are situated near Chelsea's Stamford Bridge. But there will be no Roman Abramovich-style indulgence should Polygon take control, or partial control of Newcastle. Polygon would make no official comment on reports but Hall said from Spain last night: "We've been approached before by people but haven't taken anything forward. We're in talks now but I cannot say anything more." At any given time Polygon are eyeing several businesses to either take over or in which to invest. Newcastle would appeal because in a fragile stock market the television deal struck by the Premiership guarantees short-term stability. Newcastle are also an underachieving stock in City terms, their valuation yesterday of £80m is a tenth of Manchester United's despite Newcastle's phenomenally loyal fan base. If a buy-out of Hall does materialize there will be an issue regarding the day-to-day running of the club. Via his son Douglas, Hall snr would still have an interest - the two have an additional joint 13% stake - but the chairman Freddy Shepherd owns close to 29% of the club. Shepherd, with his increasingly influential son Kenneth, is in charge of Newcastle on a daily basis and Polygon's possible investment would raise the spectre of a takeover battle. However, Polygon could make an approach for Hall's 28.8%, if not in tandem with the Shepherds. Then with the understanding that while Polygon will look at restructuring debts and loans, the Shepherds will still be in control of the football. What it would mean in terms of transfer funds for the newly appointed manager Glenn Roeder is unclear.
