THE players are back in training, the opening pre-season fixture is now only nine days away, but still Newcastle United’s interminable wait for progress goes on.
The daily updates have become like a mantra – consortia interested, due diligence ongoing, bids expected, something firmer likely to happen at the start of next week – but they are now uttered more in desperation than hope.
The harsh truth is that no one, not even Mike Ashley or Keith Harris, the investment broker who is overseeing the logistics of the sale, can say with any certainty when all of this will be at an end.
In the meantime, Chris Hughton and Colin Calderwood are overseeing things on the training ground, shuffling cones on the Titanic as Newcastle’s rudderless ship sinks.
Yesterday’s latest missive claimed that Harris had instructed the four consortia who have entered into due diligence to table formal offers within the next 24 hours.
That would enable Seymour Pierce officials to weigh up the pros and cons of each offer, and make a recommendation to Ashley on Friday.
The failed Newcastle chief would then ponder his options over the weekend, and give Harris either the green or red light on Monday morning.
If he was willing to accept, and all the signs suggest he is increasingly desperate to sever his ties with Tyneside, an official announcement could be made in the middle of next week.
The formal takeover process would take longer to complete, but with an announcement made, an incoming owner would be free to finally appoint a new manager and begin addressing the chronic need to reduce Newcastle’s wage bill.
Alan Shearer remains the preferred choice of at least two consortia, but with the former number nine certain to demand a number of assurances about how deep the cost cutting will be, he is no longer a completely unanimous choice at this stage.
The identity of the competing consortia remains a closely- guarded secret, with even Ashley and managing director Derek Llambias still uncertain about the exact makeup of the interested parties.
One of the groups is domestically- based, but while former chairman Freddy Shepherd is closely involved, he is not believed to be the key player in the consortium.
Shepherd has adopted an increasingly high public profile in recent days, something that is known to have infuriated Ashley, who clashed repeatedly with his predecessor in the St James’ Park hotseat when he was completing his own takeover of the club.
Ashley will sell to Shepherd’s group if the price is right, but a source close to the bidding process has described suggestions that a deal has already been agreed as “fanciful”.
Instead, a US-based group is still considered to be the most likely purchasers, and it is telling that Harris spent last weekend in the US, even if he claims his business was “nonfootball related”.
Another of the groups still undergoing due diligence is understood to have South African links, but the Singapore- based Profitable Group, who have been repeatedly linked with Newcastle in the past, are not involved in the book-checking process.
The books would look much better, of course, if Newcastle could sell a number of their highest-earning players, but despite the absence of Sebastien Bassong, Damien Duff, Geremi, Jonas Gutierrez and Xisco, who have been given an extended break following their summer international exertions, there were still 16 senior players at the club’s first pre-season session yesterday.
David Edgar was not one of them, as having become a free agent when his contract officially expired on Tuesday, the defender yesterday signed a four-year deal with Premier League newcomers Burnley. Newcastle will be due a minimal compensation fee because of the 22-yearold’s age.
■ Two of Newcastle’s opening nine Championship fixtures have been selected for live coverage on the BBC.
The BBC, which owns the rights to ten Championship matches this season, will screen Newcastle’s opening day trip to West Brom live on BBC One. The game, at the Hawthorns on Saturday, August 8, will now kick off at 5.30pm.
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