________________________________________________________________________ Announcement Details Company Newcastle United PLC TIDM NCU Headline Football Academy Update Released 15:49 02 Jul 2001 RNS Number 2344G Full Announcement Text ------------------------------------------------------------------------------------------------

RNS Number:2344G Newcastle United PLC 2 July 2001

NEWCASTLE UNITED PLC: FOOTBALL ACADEMY UPDATE

Newcastle United PLC today announces that it has signed a 125-year lease for its new Football Academy at Darsley Park, Newcastle upon Tyne. Darsley Park is a 35 acre site currently operating as a Civil Service sports club. It is expected that the site will be available to Newcastle United Football Club from early September this year. The signing of the lease for Darsley Park also ensures continuation of the Football Club's five year Football Academy Licence, which was issued in 1999.

The original site identified for the Football Academy was at Waverdale, in the east of Newcastle. Progress on this site has been significantly delayed due to environmental issues. Consequently Newcastle United Football Club concluded that it would not be possible to progress the plans for the Football Academy at Waverdale, within the timeframe originally envisaged.

Newcastle United PLC had estimated the cost of developing the Waverdale site to be in the region of #10 million. The existing facilities at Darsley Park will, apart from the construction of indoor training facilities, meet the current requirements for training and youth team development, eliminating the need for further major investment in the site.

Enquiries:

Brunswick Jonathan Glass/Simon Sporborg 020 7404 5959

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-- Anonymous, July 02, 2001

Answers

So, does this mean we'll be getting the 10 mills for players?

-- Anonymous, July 02, 2001

Only a 125 year lease, the short-termist bastids.

Just keeping up the tradition of greeting decent news with a gloomier perspective.

-- Anonymous, July 02, 2001

Shearer will still be considered first choice in 125 years time. Personally I think we should do a Liverpool, get some land in a good area to turn into a training facility, 4 years later sell it as prime development land for houses & pocket a nice profit to finance an even better facility.

-- Anonymous, July 02, 2001

There has still been no Press Release regarding Bellamy's signing.

Given that they felt the £2.25mm signing of Lua Lua was a 'material event', it seems very curious that they have not felt the need to publicly disclose the details of this much bigger transfer.

-- Anonymous, July 02, 2001

Clarky,

As far as I'm aware they haven't announced signing Robbie Elliot either. I guess they are waiting until we have the big press conference with Kluivert, Ronaldo and Zidane.

-- Anonymous, July 02, 2001

Both have come up as items on teletext - presumably an economical way of announcing them without actually announcing them.

-- Anonymous, July 03, 2001

The Club is required to issue a formal statement to the Stock Exchange on all "material events", to ensure all shareholders receive the information, and at the same time - or at least have access to it.
This is to avoid what is known as 'selective disclosure' wherein a small number of shareholders could be given information selectively, thereby putting them in an advantageous position to buy/sell shares in the Company.

The signing of a player on a free transfer would not be classed as a material event - unless perhaps it was Rivaldo! As I indicated last night, the signing of Luax2, at £2.25mm, was regarded as material and was announced. Therefore it seems clear that the £6.5mm signing of Craig Bellamy is also material and should have been similarly announced.
Newcastle United plc of course appear to feel they are a law unto themselves!

-- Anonymous, July 03, 2001

Unless he hasn't actually signed yet? wasn't there some blurb about signing them (whoever they are!) all together?

-- Anonymous, July 03, 2001

Training starts today, someone get themselves down to Chester le street and see if you can spot Bellamy and Elliot.

-- Anonymous, July 03, 2001

Only problem Rik is that they aren't training at Chester-le-St any more!

-- Anonymous, July 03, 2001

According to the papers, they will be training at SJP for the Inter Toto...

-- Anonymous, July 03, 2001

Are they gonna be training back at Chester le street when the cricket season ends or are they moving to Dalsey Park or at the site near Ponteland?

-- Anonymous, July 03, 2001

Rik, according to the Ronnie, they have not renewed their contract at Chester-le-Street. I think SJP is in the frame because the Woolsington site hasn't yet got even basic facilities like loos. That's just the Ronnie, though.

-- Anonymous, July 03, 2001

CHRIST. it's a shambles. I just hope Bellamy was someones idea of a wind up...Perhaps the buggers would be better served getting David Bellamy and get him to lay some decent seeds for the pitch...with all the boots its going to see its going to need some serious attention PLUS David Bellamy is higher profile than the ugly little Welsh squirt.

-- Anonymous, July 03, 2001

Sorry to add this - but they can't train at SJP either!

The SJP pitch was reseeded about three weeks ago. However, following the InterTwoBob entry they realised the pitch wouldn't be ready in time for the first game. So, they have returfed the pitch this week at a cost of some £80-100k.

-- Anonymous, July 03, 2001