Newcastle reveal Belgravia talks ongoing

goldenHuddlestone · 10-26-2006, 10:31 AM

English Premier League club Newcastle United revealed it was still in takeover talks with secretive investment firm Belgravia Group on Wednesday but said its potential suitor had yet to table a firm offer. "Whilst discussions are ongoing between the two parties, it (Newcastle United) has not received a formal proposal from Belgravia or any other entity," the club said in a statement. "There can be no certainty that an offer will be made, nor as to the terms on which any offer would be made."

Belgravias interest is the second approach the club has received this year. U.S. hedge fund Polygon held talks in June with majority shareholder John Hall who with his son owns more than 40 percent of the club based in the north-east. Belgravia, headed by fund managers Ron Mitchell and Duncan Hickman, will also have to win over Newcastle chairman Freddy Shepherd who media reports say is unwilling to sell his 28 percent stake in the club.

The Jersey-based investment firms interest in the Tyneside club follows a recent swathe of buyouts of British soccer clubs. Last week east London Premier League team West Ham United confirmed it was in talks about a possible takeover. Premier League champions Chelsea, Manchester United, Aston Villa, Fulham and Scottish top flight side Hearts are now all in the hands of high profile foreign owners.

Alongside personal sporting interests, investors have been attracted by the Premier League clubs highly visible earnings. These are the result of loyal fan bases, ballooning revenues from the latest round of television deals and the value of the land that the stadiums and training grounds are built on.

Joe · 10-26-2006, 02:47 PM

I wonder how the Newcastle fans would react to this news. I would be against it if they were approaching Celtic. These companies - as the article hints at - are only interested in making money from the club. They will eventually drain the money from the game and discard the club when they are finished.

Jedi Knight · 10-26-2006, 04:30 PM

yep, they definitely are leeches these companies, who are only interested in draining a club's resources. These takeovers are are alarmingly becoming to frequent.

theo kawala · 10-27-2006, 08:33 AM

any newcastle fans here on the website?

10-26-2006, 10:31 AM	#1 (permalink)
goldenHuddlestone Admin Join Date: Jul 2006 Posts: 5,647 vCash: 480	Newcastle reveal Belgravia talks ongoing English Premier League club Newcastle United revealed it was still in takeover talks with secretive investment firm Belgravia Group on Wednesday but said its potential suitor had yet to table a firm offer. "Whilst discussions are ongoing between the two parties, it (Newcastle United) has not received a formal proposal from Belgravia or any other entity," the club said in a statement. "There can be no certainty that an offer will be made, nor as to the terms on which any offer would be made." Belgravias interest is the second approach the club has received this year. U.S. hedge fund Polygon held talks in June with majority shareholder John Hall who with his son owns more than 40 percent of the club based in the north-east. Belgravia, headed by fund managers Ron Mitchell and Duncan Hickman, will also have to win over Newcastle chairman Freddy Shepherd who media reports say is unwilling to sell his 28 percent stake in the club. The Jersey-based investment firms interest in the Tyneside club follows a recent swathe of buyouts of British soccer clubs. Last week east London Premier League team West Ham United confirmed it was in talks about a possible takeover. Premier League champions Chelsea, Manchester United, Aston Villa, Fulham and Scottish top flight side Hearts are now all in the hands of high profile foreign owners. Alongside personal sporting interests, investors have been attracted by the Premier League clubs highly visible earnings. These are the result of loyal fan bases, ballooning revenues from the latest round of television deals and the value of the land that the stadiums and training grounds are built on.

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10-26-2006, 02:47 PM	#2 (permalink)
Joe Football Talk Admin Join Date: May 2006 Location: Glasgow Posts: 15,333 vCash: 500	I wonder how the Newcastle fans would react to this news. I would be against it if they were approaching Celtic. These companies - as the article hints at - are only interested in making money from the club. They will eventually drain the money from the game and discard the club when they are finished. Thanks for visiting FootballTalk.org. You could register now and have your say.

10-26-2006, 04:30 PM	#3 (permalink)
Jedi Knight Admin Join Date: May 2006 Location: ma hoose Posts: 1,436 vCash: 500	yep, they definitely are leeches these companies, who are only interested in draining a club's resources. These takeovers are are alarmingly becoming to frequent. The FORCE will always triumph over the dark side!!!

10-27-2006, 08:33 AM	#4 (permalink)
theo kawala Veteran Join Date: Jul 2006 Location: england peterborough Posts: 3,149 vCash: 500	any newcastle fans here on the website? MR VA VA VOOM HES THE BEST!! HES GONNA SCORE A THOUSAND GOALS WHEN HE STARTS EVERY GAME!!!

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