TOON UPDATE

Newcastle fans are launching a campaign to buy-out the club

Supporters take matters into their own hands…

stjamespark.jpg

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?


3 responses so far
  • David // November 10, 2009 at 9:09 pm

    Do Newcastle fans think before they speak or attempt to act?

  • Nic // November 11, 2009 at 2:33 am

    The NUST has been in existence for longer than purely this week, set up to provide a fan’s voice to events going on at St James’ rather than the lol bandwagon/unemployed that Sky cannot wait to broadcast.

    http://www.nust.org.uk/

    It is highly doubtful it will succeed given Newcastle’s current position and the fact that over 40000 people are turning up to watch Championship football. Of course Ashley is going to sit on his investment and hope we go up to see if he can turn a profit.

    To answer David as to whether we think before speaking or attempting to act, we apologise for having an emotional link to our club, that really should have been stamped out in the 90s.

  • Greebo // November 11, 2009 at 1:24 pm

    Nic, best of luck to the you and the rest of Newcastle! If i had a pot to p1$$ i would stump up some cash despite being a Gooner! David i hope your not a fellow Gooner…! Bet you support a club “lead” by melted face Redknapp…

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