Lawyer acting for Mike Ashley gives takeover update to Sky Sports
Only one story dominating and now Sky Sports have given their latest update on the Newcastle United takeover tale.
Mike Ashley having released a statement on Monday, formally announcing the club was up for sale.
This was swiftly followed by an appearance by Ashley’s legal representative appearing on Sky Sports, lawyer Andrew Henderson helping to push the story further (read that below).
Sky Sports have now on Thursday lunchtime put out an update from Ashley’s lawyer, with Sky Sports man in the north east, Keith Downie, quoting Andrew Henderson:
“Since Monday, a number of additional parties have come forward which we believe to be credible.
“We are also continuing to engage with a number of parties with whom we had entered into negotiations prior to Monday’s announcement.”
This follow a report on Wednesday from Press Association Sport, saying that four ‘interested parties’ had already signed non-disclosure agreements’ allowing them to study the club’s books, and that Andrew Henderson has also been ‘inundated’ with calls regarding buying the club.
The lawyer acting for Mike Ashley on the potential sale of Newcastle United, reported to be having the lengthy task of separating ‘time-wasters from genuine candidates’.
As always, what is fact and what is spin is impossible to call for certain, just so long as we get the right final outcome!
Andrew Henderson speaking to Sky Sports – 16 October 2017:
“There has obviously been a lot of press speculation about Mike’s intentions towards the club.
“I think that there is a view that over the years there has been a considerable investment, perhaps a feeling that all that can be done has been done.
“So it is probably just a recognition that it might be time for a change.
“Our intentions at the moment are to see if the club can be brought forward into new ownership by potentially Christmas.
“That would allow for a period for serious interested parties to put themselves forward, for a diligence process to carry on, and then hopefully by Christmas for a sale to conclude with the sort of flexibility around terms we have discussed.
“If that weren’t possible then there is no desire to sell the club for any price to anyone. There is a lot of responsibility that goes with owning the football club so we would then look at that at the relevant time.
“That’s the objective but nobody has a crystal ball so nobody can say for sure what happens and when.
“I think back to the question of price, it will depend on what somebody is prepared to pay for the club.
“Football clubs have a scarcity value, nobody is making 150-year-old football clubs with the kind of traditions that Newcastle United have so obviously there is value there but then in terms of what the number is that will be dictated by how many people, how many serious people are interested, how many serious people can deliver and so we then get to how long will that take, how long do we give them.
“I think that is a matter for negotiation but certainly not all in year one so that’s how we would be approaching it.”
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