Newcastle fans are launching a campaign to buy-out the club
Supporters take matters into their own hands…
The recent furore over St. James Park’s naming rights was clearly the last of many straws – a group of Newcastle United fans have started appeals to banks and local businesses, asking for help in raising enough funds to launch a takeover bid for the club. The Newcastle United Supporters Trust (NUST) claim to have roped in ‘big names in the business and financial world’ to help meet Mike Ashley‘s £80m price tag:
We have emailed over 40,000 supporters to ask them if and how they want to buy into the campaign to lead a city-wide bid to buy back the club.
The idea is based on fans investing in the club through a number of financial opportunities which will be held by a local solicitor in an escrow account to demonstrate to Ashley that the fans have proof of funds.
Supporters will be asked to pledge 10% of their investment into this account and guaranteed that the money will be returned if the bid fails.
It is clear that we have no knight in shining armour to end the charade at St James’ Park so we must look at how we can do this ourselves.
This is all going to end in tears, isn’t it?