Freddy Should Do Honourable Thing And Go!

Last updated : 29 May 2007 By Footy Mad - Editor

However the Newcastle chairman knows is exit will be at a cost, and making money is top of his list.

The Magpies hierarchy want it sorted, and getting rid of the one stumbling block to a new future (Shepherd) so they have requested an early meeting with the billionaire and his representatives in the wake of his major investment in the club on Wednesday.

Shepherd's stake of around 29.8% makes him the major obstacle in Ashley's way as he attempts to seal a £133.1million buy-out.

A statement issued to the Stock Exchange on Friday afternoon: "The Board of Newcastle United has met to discuss the SJHL offer and has requested an early meeting with Mike Ashley and his team, and look forward to discussing the offer and his plans for Newcastle United in more detail.

"It is hoped that this meeting will take place next week."

Shepherd has steadfastly rebuffed previous overtures from the Jersey-based Belgravia Group and the St James' Park Group, a consortium backed by US hedge fund Polygon. Saying it would take a lot of money to get him out.

Ashley is armed with a personal fortune estimated at £1.9billion.