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Moat Bid’s, But Then What?
Monday night brought confirmation that Barry Moat has finally submitted a bid for Newcastle United, however, it is thought that the offer is still short of Ashley’s £100m asking price.It seems as if the whole sorry saga is eventually nearing the end, although this is not to say that Mike Ashley will sell to Moat, especially as the offer is suggested to be less than the asking price.
With the Keegan case almost at conclusion, and the award being £23m less than Ashley was expecting (he was never going to sell with that hanging over him) it would seem Moat has taken the opportunity to “test the water”
Moat will be gambling on the fact that Ashley has not lost £25m, but £2m, and our guess is that his offer to buy NUFC is a compromise, possibly £85m-90m – he will be hoping that Ashley has simply had enough.
Of course this is me summising, and I could be miles out on my assumptions, but at least, Moat has managed to satisfy Barclay’s with regards to the overdraft facility, the offer is in, and we will see what happen’s next.
One concern I have is the long term benefit for NUFC, Barry Moat’s purchase would certainly satisfy the Ashley Out campaigners, but what of the future? We have scant detail of Moat’s consortium and the fact he’s has had to dodge and deal his way to satisfy Barclay’s is hardly a good sign that this group have sufficient fund’s to carry us forward.
Moat’s trump card, is to bring Shearer back as manager, yes, it will lift the crowd, can’t argue, but details of how we move forward are sketchy to say the least.
And what of the other group’s involved? What happened to them? Fan’s buying the club, really? South African’s? American’s?
To be honest, all we want as fan’s is an owner with a business model, a strategy and a desire to bring success to Newcastle United, I couldn’t care less about bringing in Shearer if the only reason is to get fan’s on side. Moat will quickly find that this is short lived fame, and only long term success will bring him and his consortium the respect that I’m sure they are all looking for.
This might sound a bit negative, it isn’t, I’ve had as much of Mike Ashley as anyone else, mention Dennis Wise to me and I feel like belting the poison dwarf, but, what I don’t want is another owner/consortium that want NUFC for the glory of having NUFC – we need prospect’s, and we require success.
So Barry, if you’re reading, tell us more, please…
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Pete say's:
7:23 AMGood post, only one comment I want to make & its regarding the Barclays bank!! Moat isn’t using Barclays to get money to buy the club, Barclays control the overdraft & thats the only reason Moat was in contact with them due to it being £40m for a EPL club & only normally £10m for a fizzy pop club, so he’s been arranging a middle ground amount due to the size of our income, nothing to do with the money Moat needs to buy the club, thats coming from American backers apparently, so why do people think that Moat is struggling to find finance??? He’s tabled an offer which he & his backers feel fits the clubs current value, which is probably right, Barclays aren’t leanding him money to do that, so there isn’t a problem with cash!!!
Ken Waugh say's:
7:26 AMYou seem to be in the know more than anyone else, I wish I could say I was confident that Moat’s consortium were financial giant’s, but I can’t as I don;t know who they are, do you?
Paul Nicholson say's:
7:54 AMI couldn’t agree with the article more if I tried to write it myself. The fact that he is having to renegotiate any overdraft says it all. What we want, and deserve, is someone to come in and PAY OFF any overdrafts. Someone that will invest significantly in our club, mostly the playing staff (although a new scoreboard would be nice!!). Someone that has the ambition that the fans do, and equally has the nous and financial clout to provide it.
I’m sorry, but I have been skepticle about the Moat bid from the very start. If the financial backing from America was there, then any official bid would have come in weeks ago.
My preferred choice was the New York group that wanted to Market us worldwide on a large scale, and already had prior knowledge of the sports industry. A group like that would not accept failure, or plodding along for years on end. They would want to bring success, and quick success at that.
As a Newcastle fan, and having had my season ticket for 31 of my 39 years, I am fed up of lies, false dawns, and being the laughing stock of English football. Surely OUR TIME SHOULD BE NOW!!!!