Newcastle On The Brink.

[TIL 1010 5,246]

Of a £300 million takeover by a Saudi consortium headed by Amanda Staveley.

https://www.bbc.co.uk/sport/football/52284645

[yellow_belly 227]

Bet we will be the only Premier League club furloughing staff by the weekend. That’s sad 😔 whatever your viewpoint 

[A Load of Squit 6,260]

Interesting move by Mike Ashley, looks like he's found a buyer at the moment when football clubs worth could plummet.

If it is, as just reported on the radio a cash deal that also seems to be quite a good deal for Ashley, he'll have £300M to buy up some more shops.

 

[ricardo 8,034]

Being paupers at a rich mans party will always be a problem. I think most of us are well aware of that already.

[Uncle Fred 526]

It’s just really sad that the stowmarket 2 are standing in the way of the club progressing 

[BarclayWazza 93]

19 minutes ago, Uncle Fred said:

It’s just really sad that the stowmarket 2 are standing in the way of the club progressing 

Perspective on Norwich's owners - they account for 1/3000th of the total value of Premier League owners. 

[dylanisabaddog 6,136]

29 minutes ago, Uncle Fred said:

It’s just really sad that the stowmarket 2 are standing in the way of the club progressing 

An alternative view is that without the Stowmarket two we wouldn't have a football club. 

[Herman 11,136]

Another alternative is that I wouldn't want Saudi money anywhere near our club. 

[Uncle Fred 526]

40 minutes ago, Herman said:

Another alternative is that I wouldn't want Saudi money anywhere near our club. 

Indeed , Chinese money would be much better 

[TIL 1010 5,246]

56 minutes ago, dylanisabaddog said:

An alternative view is that without the Stowmarket two we wouldn't have a football club. 

Why is that as history shows it was Geoffrey Watling who bought out Chase not Delia & Michael ? All money they subsequently loaned the club has been repaid in full.

Edited April 15, 2020 by TIL 1010

[dylanisabaddog 6,136]

1 hour ago, TIL 1010 said:

Why is that as history shows it was Geoffrey Watling who bought out Chase not Delia & Michael ? All money they subsequently loaned the club has been repaid in full.

Geoffrey acted as a go between because Chase refused to deal with Delia and husband. They paid Chase well over the odds for a club that was close to folding. No doubt they would make a huge profit if they sold now but they dug us out of a hole. 

[lake district canary 4,830]

2 hours ago, BarclayWazza said:

Perspective on Norwich's owners - they account for 1/3000th of the total value of Premier League owners.

Yep, but it won't stop the detractors from pushing the anti-Norwich stuff. it seems as though facts don't matter to those who delight in trying to find something to knock the club with.

[BarclayWazza 93]

Just now, lake district canary said:

Yep, but it won't stop the detractors from pushing the anti-Norwich stuff. it seems as though facts don't matter to those who delight in trying to find something to knock the club with.

It wasn't praise.  Fully believe we're being held back as a club by the owners inability to put money in where needed.

[Herman 11,136]

1 hour ago, Uncle Fred said:

Indeed , Chinese money would be much better 

You'll have to wash it first. 

[lake district canary 4,830]

2 minutes ago, BarclayWazza said:

4 minutes ago, lake district canary said:

Yep, but it won't stop the detractors from pushing the anti-Norwich stuff. it seems as though facts don't matter to those who delight in trying to find something to knock the club with.

It wasn't praise.  Fully believe we're being held back as a club by the owners inability to put money in where needed.

That is an opinion I can understand but don't agree with, but the truth is that if we are 1/30000 in terms of value in the PL it means we are absolute minnows when it comes to the Premier League and that is what should be remembered when people try to lump us in with the likes of Newcastle/Liverpool/Spurs etc in the recent debates about furloughing.

[TIL 1010 5,246]

28 minutes ago, dylanisabaddog said:

Geoffrey acted as a go between because Chase refused to deal with Delia and husband. They paid Chase well over the odds for a club that was close to folding. No doubt they would make a huge profit if they sold now but they dug us out of a hole. 

I beg to differ with your version dylan as it was Watling who bought Chase's shares in April 1996. He then invited Delia, MWJ to join a new board in November 1996 together with Michael Foulger which was over 7 months after Chase had gone. It was not until 1997 that they purchased their shareholding from GW.

The person who dug us out of a hole was GW as Barclays Bank were holding a gun to Chase's head over unsecured short term loans and at that time Delia & Michael were not around so your version stating Chase refused to deal with them never happened.

Edited April 15, 2020 by TIL 1010

[Midlands Yellow 4,682]

So what kind of profit would our saviours make on initial investment if they ever sold the club ? 

[Canary Wundaboy 1,423]

3 minutes ago, Midlands Yellow said:

So what kind of profit would our saviours make on initial investment if they ever sold the club ? 

Delia has said in the past she's not interested in profit and only the welfare of the club, its employees and supporters, so the club would surely only be sold for £25m or so?

[dylanisabaddog 6,136]

20 minutes ago, TIL 1010 said:

I beg to differ with your version dylan as it was Watling who bought Chase's shares in April 1996. He then invited Delia, MWJ to join a new board in November 1996 together with Michael Foulger which was over 7 months after Chase had gone. It was not until 1997 that they purchased their shareholding from GW.

The person who dug us out of a hole was GW as Barclays Bank were holding a gun to Chase's head over unsecured short term loans and at that time Delia & Michael were not around so your version stating Chase refused to deal with them never happened.

I think you're being a bit naive 

[TIL 1010 5,246]

Just now, dylanisabaddog said:

I think you're being a bit naive 

No just presenting the facts as it happened and in date order.

[PurpleCanary 6,384]

14 minutes ago, Canary Wundaboy said:

Delia has said in the past she's not interested in profit and only the welfare of the club, its employees and supporters, so the club would surely only be sold for £25m or so?

It would depend on the club's circumstances at the time, but the price would have to take into account the interests of all shareholders, irrespective of how S&J specifically might profit or not. As things stand, with NCFC being a yo-yo club between the top two divisions, with no debt, and owning its ground and its training ground, £25m would be too low a figure.

[lappinitup 629]

1 hour ago, dylanisabaddog said:

Geoffrey acted as a go between because Chase refused to deal with Delia and husband. They paid Chase well over the odds for a club that was close to folding. No doubt they would make a huge profit if they sold now but they dug us out of a hole. 

At last! Someone who knows exactly how much Watling walleted....

How much did they pay?

Edited April 15, 2020 by lappinitup

[nutty nigel 7,902]

What is it they are holding us back from?

[dylanisabaddog 6,136]

Quite how anyone can look at that series of transactions and draw any other conclusion that GW was acting for someone else is beyond me. 

At that time any amount over and above the value of the land less the bank overdraft was over the odds. That amount was next to nothing. 

Edited April 15, 2020 by dylanisabaddog

[nutty nigel 7,902]

Just now, dylanisabaddog said:

Quite how anyone can look at that series of transactions and draw any other conclusion that GW was acting for someone else is beyond me. 

This forgets that the shares were offered in seven small packages during the intervening 18 months but there were no takers. Then when Delia was invited onto the board she said they had not been interested earlier because they wanted any investment to go into the football club. No way did they put any money into Chase's pocket.

[TIL 1010 5,246]

1 minute ago, dylanisabaddog said:

Quite how anyone can look at that series of transactions and draw any other conclusion that GW was acting for someone else is beyond me. 

GW was acting to save his beloved club from falling into the hands of Barclays Bank and bankruptcy. Remember that the last throw of the dice for Chase was to sell Ward and Newsome on the same day in an effort to save his skin and it failed so in stepped GW.

If your unsubstantiated theory had legs why did it take over another 12 months for Delia and Michael to buy those shares from GW if they were ready to buy back in April 1996 ?

[wcorkcanary 4,784]

7 hours ago, yellow_belly said:

Bet we will be the only Premier League club furloughing staff by the weekend. That’s sad 😔 whatever your viewpoint 

It's ok, we're  the poorest club in the Prem by a country  mile, shouldn't be there  yet anyway. Totally unforeseen circumstances, plus I'm confident enough that if this all pans out and we didnt need furlough payments then I reckon the board would happily  hand it back. In the meantime it's all hands to the pump finding anyway to keep money flowing into the club, cos untill the Players make a move on wages, its flowing out, mighty fast.

[nutty nigel 7,902]

Mr Wynn Jones, a supporter for more than 40 years, said it was "a childhood dream" to join the board - but stressed it was not a step he and his wife had taken lightly.

"There was a lot of speculation originally. When we were first approached it would have meant buying shares rather than any investment going into the club where I felt it was needed.

"That situation has changed dramatically. I was gob-smacked at how much the situation here has changed in six months, and both of us are obviously delighted that our investment will go into the club."

[TIL 1010 5,246]

12 minutes ago, dylanisabaddog said:

 

At that time any amount over and above the value of the land less the bank overdraft was over the odds. That amount was next to nothing. 

What about the unsecured loans that were not being serviced ? That is what Barclays Bank were calling in, nothing to do with land or overdrafts.

[JF 694]

I’m not convinced that now is the time for yet another debate on our ownership model! I must say I’m quite surprised by the timing of this Newcastle takeover given how everything is completely up in the air at the moment and for foreseeable future. Highlights again all that has gone wrong in the game. Reports this week of Kane to Man U for £200 million, Newcastle to be sold to billionaires for £300 and today it’s reported that many League 1 and League 2 clubs are on the brink. As I posted in another thread, Let’s just hope we still have a club at the end of this.