Vultures Circle Newcastle United

At a time when football fans are mourning the death of the gentleman giant Bobby Robson, it is sad to see the state of Newcastle United. Of 30 clubs relegated since the Premiership was founded in 1992-3, only 13 have rebounded straight back and some like Leeds United have fallen even lower. With their ownership unresolved, the Magpies are not well set up to face the season. Despite the fanaticism of many of their supporters, disillusionment has hit season ticket sales. Now restructuring firms are said to be hovering round the club.

How Much Are Global Sporting Events Worth?

Britain has done well recently in securing global sporting events and is bidding for the World Cup in 2018. But how much they are really worth? The government view is that they give a boost to the economy, but some sports economists are not so sure.

Cheshire Conference Clubs In Trouble

Chester City, relegated from the Football League last year, face a crunch board meeting tomorrow. With the season starting next Saturday, the club lack a licence to play. What’s more the High Court revoked their Company Voluntary Arrangement that allow them to exit administration. The FA have to decide if they will grant Chester mandatory affiliation even though they are in clear breach of insolvency rules. The club have already paid out quarter of a million pounds in wages over the summer and badly need some cash flow.

Livingston FC Boss Finally Sells Up

Financially strapped Scottish club Livingston have been given a ray of hope after owner Angelo Massone agreed to sell his shares to new investors. His departure followed, but was not necessarily related to, a conviction at Edinburgh Sheriff Court. Gordon McDougall and Neil Rankine have persuaded the Italian businessman and lawyer to accept £50,000 for his shares. Massone had earlier turned down an offer of half that amount from the club’s interim manager who had started the process of putting the club into liquidation after Massone refused to sell his shares.

Tranmere Rovers Put Up For Sale On e-Bay

League 1 club Tranmere Rovers are furious after a company they hired to find a buyer for the Wirral club put them up for sale on e-Bay with a reserve price of £6m. The attention of potential purchasers was drawn to the club’s potential for growth, ‘historic brand’ and the chance to ‘upgrade the fan experience’ (whatever that means). The listing was apparently placed on the site by Dornoch Capital Advisers, a North Carolina-based company appointed this year by Peter Johnson, the Tranmere chairman, to find a buyer for his shares. The club has been on the market since last year.

Newcastle United Deny Administration Rumours

Newcastle United sources have categorically denied that Mike Ashley will place the club into administration if a buyer does not emerge over the next few weeks. The club has already cost him over £250m. However, it seems likely that the Ashley regime will continue if none of the three bidders for Newcastle who have been in detailed discussions with investment bank Seymour Pierce proceed with a takeover. It is believed that Newcastle is being run on a day-to-day basis through a bank overdraft of £35m or more.

A Good Time To Be Paranoid?

As Michel Platini has become increasingly bullish about his ‘financial fair play’ strategy which many see as targeted at the top English clubs, some fans of those clubs may feel they are justified in being paranoid. Uefa slapped a two match ban on Eduardo for diving: nothing wrong in that, except that many such offences are ignored. Then Fifa imposed a transfer ban on Chelsea for inducing a French player to break his contract and join them. Chelsea do, of course, have previous with Ashley Cole and some fans of other clubs welcomed the move.

Liverpool FC renegotiates its debt with RBS

Liverpool which owes two banks £350m has renegotiated its debt with the Royal Bank of Scotland. Although Liverpool fans will be relieved that a deal has been done, after fears that the loans might be called in, the sequence of events does nothing to reassure them that the American co-owners, Tom Hicks and George Gillett, have the financial clout the football club needs, particularly to build the Stanley Park stadium.

It’s Almost a Done Deal at Pompey

Portsmouth could become the second Premiership club to be owned by investors from the United Arab Emirates with the completion of a takeover led by Sulaiman-al-Fahim. The takeover was confirmed after the Premier League announced that Al-Fahim had become the first person to pass their new ‘fit and proper person’ test for club owners. He will become the club chairman, 31 years old, with a MBA and PhD from American business schools, he founded Hydra Properties in 2005. He is ranked 16th on the list of Most Powerful Arabs, playing a Sir Alan Sugar role in an Apprentice style show.

Old Firm Blast TV Deal

Celtic and Rangers are unhappy with a television deal with Sky-ESPN approved by two-thirds of the Scottish Premier clubs which more or less halves the revenue received from Setanta. Instead of £125m over four years the SPL had to accept £65m over five, or a minimum of three. Instead of the Scottish top flight receiving £20.25m during the 2009-10 season, they will have to make do with just £13m. Admittedly, they were not in a strong bargaining position as Setanta paid over the odds in an effort to build their business.