Fans To Buy Newcastle? Is It Possible To Raise £300m?

Last updated : 11 October 2008 By Footy Mad - Editor

The pressure group, which has the backing of the supporters' campaign website www.savenewcastle.com, has recruited top sports lawyer Mel Goldberg to front a bid to raise the cash to buy Ashley out.

That could mean the equivalent of 300,000 people investing £1,000 each with shareholders having an equal vote on how the club, which could also be afforded charitable status as a result, is run, although team affairs would be left to the manager.

The guy facing the media is Peter Lee (quite an unfortunate name considering Peterlea is a Mackem strong hold), and he looked rather dapper this week as he stood outside St James' Park.

But he has many fans confused when he claims to havce raised £3m already, but he could not say who had put up the money because it was "a secret".

Spokesman Peter Lee said: "Newcastle Fans United are a team of consultants supported by top sports lawyer, Mel Goldberg.

"We seek to create a 'Socio' owned club, similar to FC Barcelona. We urge all Newcastle fans and all supporters of football around the world to get behind the bid."

But we published the facts and figures last week, and it seems he does not have a cat in hell's chance of getting his idea off the drawing board ...

1) According to the last census, the population of Northumberland is 307,186.

2) 72,489 are under 18, so we can rule out those having £1,000 to give away.

3) 54,038 are over 65.

So that leaves 180,659 between 18 and 65; with probably 180,000 of those in debt.

But debt apart, if everyone in Northumberland (aged between 18 and 65) gave £2,656 to Mike Ashley to raise his £480m, we could do it.

What do you think the chances are?