Tuesday, 24 April 2007

True Faith...

I sent my thoughts on the Charles N'Zogbia scandal (See below) to True Faith, Newcastle's premier fanzine and received a very nice email from their main man, Michael Martin.


my thoughts and those of a few others exactly - superbly put in my opinion as well.

The quality of some of the letters we are getting from supporters for the tf site is astonishing and the grasp of the situation absolutely startling.

Something tells me the game is up for the mob running the show at SJP. Just a matter of time, mate.

Keep On, Keepin' On ...

Michael Martin, true faith

In my opinion the TF site is a must for every mag, they're already in my link list but just in case you can't find it here it is again :-



Anonymous said...

An interesting aspect to any potential takeover of the Plc would seem to be the situation with service and supply contracts between NUFC Plc & their suppliers etc.

One point rarely mentioned in hypothetical terms of course is that any potential buyer would have to meet the shareholders inflated equity Valuation, accept tens of millions of pounds worth of formalised debt, Existing board members fat pay off clauses.....when you add the cost of breaking existing long term contracts with Board appointed and approved suppliers, the final bill is utterly outrageous.

It would seem to some that the current boards stranglehold on the club is more than the just buying his stock - some would argue that the canceling of existing agreements would even further enrich members of the family.I cant comment on this of course

Quite a shock for any propective purchaser skimmimg through the books and not an insignificant factor to be brought up during due diligence

Rivs said...

We can obviously only speculate as to what put off the two prospective investors earlier in the season but I'm sure you're not far off at least one of the reasons there.