The True Price Of Buying Newcastle United

With Setanta now collapsing, this close season is getting more and more difficult for Premier League clubs. Some of these problems, however, have been due to own ill-thought out decisions, meaning that the cost of relegation has become almost unbearable. Rob Freeman has been looking at Newcastle United’s relegation from the top flight and concludes that the sums just don’t add up. It’s been a week since it was revealed that prospective buyers for Newcastle United had to provide proof that they had the finances to meet owner and chairman Mike Ashley’s asking price of £100m. Those that did meet the Tuesday evening deadline have been given access to an online “data room” containing the club’s books. Considering the mistakes that Mike Ashley has admitted to so far, it’s almost a surprise that the contents haven’t been all over the internet, which suggests that any offers received have been genuine, and the password isn’t either “newcastle” or “shearer9”. The concerns so far are the rumoured bidders. Former owner Freddie Shepherd is believed to be interested in taking advantage of regaining ownership of the club he sold for considerably more than the current asking price. While Shepherd was far from being the most popular owner in football, his tenure is now seen as halcyon days compared to the shambolic mess that Mike Ashley has presided over. However, Shepherd sold 28%...

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