Newcastle transfer policy raises worries

Newcastle fans will have been heartened by their win at Aston Villa yesterday, but concerns persist about the club’s lack of activity during the summer transfer window, despite their insistence that they did their important business in January.

Newcastle fans will have been heartened by their win at Aston Villa yesterday, but concerns persist about the club’s lack of activity during the summer transfer window, despite their insistence that they did their important business in January.

Director of football Joe Kinnear conducted negotiations with Lyon forward Bafétimbi Gomis. Gomis has since said that, having reached an agreement with Newcastle, he was asked to cut his wage demands. Apparently, signing Gomis would have meant Newcastle taking an overdraft of £7m and owner Mike Ashley thought that Gomis was overpriced. The same also applied to Darren Bent with whom master mind Kinnear also held talks.

In the summer Ashley blocked any additions to backroom staff, other than on a consultancy basis, while other departments, including the media team, have lost personnel.

Ashley bought the club for £134m in 2007 and has since lent them £140m interest free, but the last accounts showed that he had been repaid £11m in short-term debt, He was entitled to around £18m in the financial year just ended, but the club are adamant that he has deferred payment, for how long is unclear.

2 thoughts on “Newcastle transfer policy raises worries”

  1. Price of the Truth

    Weren’t journalists ever curious about the way the club was sold in TWO PARTS? Firstly, the Name, the staff, and then the out of the blue the Stadium re-build! (Re: Chairman Mort 2007). This was the bill which was presented to the public as a ‘debt’ by local media.

    This is a story which has been repeated over and over, without questioning by people in the media about what the ‘loan to the club was’. The local journalists knew what it was, the previous regime had landed them with the bill for the stadium, not debt but ‘collateral’ ….assets.

    Since Friday this LIE has been repeated again by Luke Edwards of the Telegraph, and Mark Douglas of the Journal, and now yourself. Ashley bought a football club in two parts worth £250 million not one football club worth £135 million with a £100 million debt!

    If the bill for the stands is for anything other than the Stadium then I challenge you
    to itemise the debt…collateral is ASSET!

    Leazes Ender

    Reply
    • Nature of the ‘debt’

      I think you make a good point, although it’s not so much a question of repeating a falsehood as not having enough information.   I know from my own club how difficult it is to find out what is going on – or even when I have impeccably sourced and reliable information, it  often can’t be used.   There is a law of defamation which is a constraint both for professional journalists and amateurs like myself.  Indeed, it is arguably too stringent.

      Reply

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