I really hope that NUFC can do something for them. A friendly at SJP involving the reserves and first team fringe would probably see them survive for the season. However, I fully expect Bob Murray to personally give them the £60,000.

-- Anonymous, December 07, 2001

Answers

What's happened?

-- Anonymous, December 07, 2001

Cameron Hall have pulled out of financing them and they are basically one wage bill away from doomsday.

-- Anonymous, December 07, 2001

I'd rather we gave them the cash than played a friendly against them....after that Friendly at Exeter last year i'm dead against them....

-- Anonymous, December 07, 2001

You're right, Gav, if the club had a cellection outside the ground next Saturday, they'd get a fair bit and if the club and players doubled whatever we collected, Gateshead would be sorted. I think I'll e mail the club (ho ho ho) and see what they say.

-- Anonymous, December 07, 2001

Hahaha we're a right old pair of cynics! :)) watch out PB there's a race on for your title! ;))

-- Anonymous, December 07, 2001

Nee chance, Gav. Too long in the tooth to be caught by upstarts. Far too many years of having the old whingeing skills honed to samurai keenness watching NUFC. Definately nowt to worry about yet a while. :- ))

-- Anonymous, December 07, 2001

You could stick the knife in again like you did when they applied for re-election. Would it be bad if BOb Murray bailed them out?

Maybe he would get the bug and put his money into us then?

-- Anonymous, December 07, 2001

Kev, some people are never satisfied: you make a record signing and still you want more. Sheesh..

-- Anonymous, December 07, 2001

Why not rent their ground from them for a training/reserves ground?

-- Anonymous, December 07, 2001

The fines from the players sent home from Spain would probably keep them going for a couple of years!

-- Anonymous, December 07, 2001

What about a BBS eleven playing a friendly against Gatesheed at SJP? What do you mean,nee bu99er would pay to watch. :-(

-- Anonymous, December 07, 2001

You may or may nnot be aware but the demise of Gateshead (hopefully it won't happen) could be linked to the demise of Cameron Hall Developments and in turn major problems for NUFC with Barclays taking control of the club.... I've just posted the following on RTG.... so don't shoot the messenger please.....

More - Barclays Bank about to take control of Newcastle United

Posted by Monkpoodle on 08 December, 2001 at 13:48:03: In Reply to: Gateshead to go bust because of Douglas Hall and Cameron Hall Developments? posted by Monkpoodle on 08 December, 2001 at 13:35:14:

Rumour only at this stage but credible....

Barclays bank are about to take control of Newcastle United as it is the main lender to the struggling Cameron Hall Developments.

Cameron Hall which boomed under the stewardship of John Hall when it developed the MetroCentre, St James Park and the Wynyard Development has increasingly struggled under the Chairmanship of Sir John's son Douglas. Whilst the Investors have taken tens of millions in dividends out of Cameron Hall over the years now that the lean times are here they are refusing to reinvest to bolster the balance sheet of the property development company.

A failed timeshare development in Portugal could be the straw that breaks the camels back with their current bankers, Barclays.

Despite promises made by Douglas Hall Barclays this week stopped him from writing out a cheque on the Cameron Hall bank account to Gateshead Football Club for £60,000 which could result in Gateshead going under. It is to be seen as to whether Douglas Hall will write the cheque out personally to match his perosnal promise.

If Cameron Hall go bust Barclays will take control of Newcastle United by virtue of Cameron Hall's 60% share holding in the football club.

Many have thought that Freddy Shepherd was trying to buy the club recently, however, he has only been trying to get his shareholding above 20% as if Barclays take control, shareholders above 20% have to be consulted and have significant blocking rights.

Should Barclays take control of the club it is yet to be seen how they will act, but as the shares are security for a multi-million pound loan to the club it is likely that Barclays will cut costs and sell players in order to pay off the Cameron Hall loans; although their will be certain legal hurdles they will need to overcome in order to achieve that.

Watch this space.....

Rollleee Gregwwaaahhhhhh

Posted by Monkpoodle on 08 December, 2001 at 13:35:14: On the brink Dec 7 2001

The Journal

Non-league Gateshead have been left on the brink of extinction by their main sponsors - for the sake of £60,000.

The club which spent 30 years in the Football League is in danger of folding within days because Cameron Hall Developments has backed out of its agreement with the Tyneside outfit.

The UniBond League side say they need £60,000 to ensure the club's survival until the end of the season.

Gateshead chairman John Gibson negotiated the current deal with Cameron Hall's Douglas Hall, the Newcastle United director, in the summer.

"It was agreed on a handshake," said Gibson. "Morally they owe us until the end of the season."

Gibson sensed problems were looming a few weeks ago. "I began to get worried when payments became later and later," he said.

"That set the alarm bells ringing and suggested there might be a problem next season, but I never dreamed the money would be stopped in mid-season.

"When it happens now - two days before our next game - it makes life absolutely impossible. It's not the way things work.

"I know every sponsorship deal eventually comes to an end, but not at a time like this when it throws the club into chaos." Gibson added: "It hurts me that it has ended without the courtesy of a personal phone call.

"I found out through a second person, which is not the way to handle a club or people. I can't believe the way I've been hung out to dry without a personal explanation. My disappointment is massive."

Gibson has talked to the Gateshead players, who have agreed to play for nothing while he launches a survival bid.

"Their response was fabulous," he said.

"They will be playing for nothing and this club stays alive as long as we've got the goodwill of the players."

However, with Chistmas looming, all of Gateshead's squad know they would be able to earn appearance money by moving to other clubs in the UniBond League or Albany Northern League. And if Gibson fails to find new backers, the club which reached the second round of the FA Cup last season and is currently seventh in the UniBond League Premier Division, is likely to play its last match at Barrow in eight days' time.

Gibson said: "It would be a huge tragedy if a club of Gatesheads stature went under. But I can't believe Tyneside would let it go to the wall"

Gibson has approached Gateshead council, who currently charge the club a reduced rent at the International Stadium.

He said "The word came back that they have no wish or capability to help.

"I find it absolutely staggering that they would let us go to the wall when clubs such as Stalybridge Celtic have a £60,000-a-year contract over three years with their council.

The club currently have no debt according to Gibson, who is prepared to step aside if a financial backer want to take over the club.

No-one from Cameron Hall Developments was available for comment last night.

Gateshead axe threat is agony for ace Agnew Dec 7 2001

Evening Chronicle

Gateshead skipper Steve Agnew, shocked and saddened to hear the club is on the verge of going under, pledged today: "We will fight to the death."

The former Sunderland midfield man leads the Tynesiders into tomorrow's Unibond League Premier Division home game against Hyde and will then prepare for Monday night's FA Trophy tie at Hednesford.

News that main sponsors Douglas Hall and Cameron Hall Developments have pulled out as Gateshead's backers was broken in last night's Evening Chronicle and Agnew said: "It's devastating. "It will also be very hard for the players and officials to get that news out of their minds tomorrow afternoon - but the players must do all they can to make sure we beat Hyde and then go on to get a good result on Monday night.

"Doing that could well help to attract the aid we need so desperately."

Gateshead's chairman John Gibson has revealed that the club's last match could be as close as the away fixture against Barrow a week tomorrow.

But Agnew insisted: "While there is life there is hope. I enjoy playing for Gateshead and I want very much to continue to do so for as long as I can."

Player-manager Paul Proudlock must run fitness checks on Gareth McAlindon, Paul Thompson and Richie Alderson. But former skipper Sam Kitchen, released by Bishop Auckland, is ready to join the squad.

-- Anonymous, December 08, 2001

"...multi-million pound loan to the club..."

should read

"...multi-million ound loan to the company..."

-- Anonymous, December 08, 2001

The only flaw in this fairy story is that Cameron Hall don't actually own 60% of NUFC. Indeed, they don't even have a majority shareholding these days.

Douglas Hall is listed as the beneficial owner of 47.8% of the shares - comprising 25.2% owned by Wynyard (Guernsey), a Offshore Trust owned by the Hall family, 15.6% owned by Cameron Hall Developments, and 7.0% owned by the CHD Pension Fund.

So, considering CHD plc only own 15.6% of NUFC, I think it is unlikely that Barclays are going to be auctioning off another public company (ie. NUFC) to pay CHD's creditors - and Mr. Gregoire knows this better than I do.

-- Anonymous, December 08, 2001

Not a bad resopnse clarky but flawed in one major respect,.... all entities, trusts and bodies owning shares in NUFC are pledged to Barclays in respect of CHD. They were only moved out of CHD for tax planning purposes but Barclays retained the controlling pledges....

Ithangyw

-- Anonymous, December 08, 2001

If that was true wouldn't CHD sell the shares to Shep to put him above the 20%?

-- Anonymous, December 08, 2001

..... even the beneficial ownership is less than 50%, Roly - and getting hold of the non-CHD equity may not prove as trivial as you suggest.

Even in the worst case situation, Barclay's would act entirely responsibly, knowing that it would be sheer lunacy to try to offload 48% of the Toon's shares into the market.

If CHD are in default of their debt obligations, Barclay's will act entirely responsibly in seeking to realise the maximum value for the CHD equity by privately securing other buyer(s).

While this sorry episode again shows Douglas Hall as the sad twerp we know he is, I don't see it as representing Armageddon - despite your fond wishes.

-- Anonymous, December 08, 2001

Gus - Hall can't sell his shares to shepherd because Barclays won't let him.... The shares were taken as pledges by Barclays assuming a much higher value so Barclays aren't going to sell at 32p (Fridays close) and to offload 60% would take some tricky manouevering.... Shepherd hasn't got the resources to take the whole lot or even much of the whole lot even at anything less than 50p....

Clarky.... you are assuming too much re shares the Hall family/CHD control in NUFC... not all holdings are disclosable (see Chelsea Village)... trust me it is 60%.... (I know you won't)...

Clarky - I haven't forecasted Armageddon (as well you know).... but Barclays would run the club for cash..... and you may assume what that might mean in terms of player spend and wages, etc.....

-- Anonymous, December 08, 2001

Roly - I will certainly take your word for the Hall's shareholding as you must have better information than me. My data was compiled from publicly available information on all shareholders owning more than 3% - presumably then this data is incorrect!

Anyway, thanks for your input - as I said nothing that tosser DH did would surprise me.

-- Anonymous, December 08, 2001

Intriguing this - the major sponsor of the League Barclaycard is also Barclays under a trading name.

Is this a conflict of interest ?

-- Anonymous, December 09, 2001

Wouldn't know about all that, but at the end of the month I can afford to finally close my account with the miserable, unhelpful, money-grubbing, thieving bastards and will have nothing more to do with them other than widdling through their letter box on my way home from the Strawberry. Utter turds.

-- Anonymous, December 10, 2001

sounds to me as if it's Barclays doing the sweating (and unfortunately Gateshead). As Clarky says, best bet is to try and arrange to sell the shares privately, to avoid further erosion of collateral value. It's CHD that they should be looking at running, not NUFC.

-- Anonymous, December 10, 2001

I think it's disgraceful that a fatal and horrific disease is being talked about in terms of %age and vulgar cash terms...it's appalling that th...ah...not CJD then...erm...er...mooo!

-- Anonymous, December 10, 2001

"It's CHD that they should be looking at running, not NUFC".

Actually, they could solve the problems of both companies at a stroke by getting rid of one man.

-- Anonymous, December 10, 2001

Didn't think Douglas Hall had much to do with the running of NUFC anymore, apart from perhaps too much influence over the size of the dividend?

-- Anonymous, December 10, 2001

Don't you believe it Peter. He is the major shareholder, and if anything I suspect he still has way too much influence. For an indication of his management ability check out his stewardship of Cameron Hall Developments.

-- Anonymous, December 10, 2001

Fascinating thread, but I'm still none the wiser what the 'worst case scenario'. Barclays Bank effectively owning and running the club?

-- Anonymous, December 11, 2001

I'm not convinced they would ever 'run' the club, or indeed have any desire to do so. They may end up owning a lot of shares in it, and then their priority would be trying to realise the value of those shares (ie sell them) to help pay back the CHD bad debt and the best way to do that would be by not interfering and disrupting things too much, IMHO. At least whatever they did would probably be more professional and in the interests of the club than the incumbent, self-interested individual who owns the shares in question at the moment. Talk of selling palyers and creating cash isn't likely IMHO. Firstly, they would have no power to do so unless they enforced changes in the running of the company (ie kicked out Freddie Shepherd et al). Secondly, by doing so, if it wasn't seen in the best interests of the Company (ie nufc) then the shares would soon be worthless anyway. It's unlikely that dividend income alone would pay off the debt, and the bad PR associated with tearing apart a company to pay the debts of another would mean nobody would be doing much business with Barclays again in the future. In summary, can't see CHD problems having much negative impact - perhaps only in so far as it's unlikely that they'll be able to invest more money in the club and therefore the main private benefactor will diminish in significance and it'll be a question of who will fill the vacuum.

-- Anonymous, December 11, 2001

Still it'd be nice if it wasn't even an issue wouldn't it.....fucking gimpy hall twat....

-- Anonymous, December 11, 2001

Ta Pete. I found this interesting site which gives some background info: Newcastle and Modern Football

-- Anonymous, December 11, 2001