Well I'm going to raise my glass to our esteemed chairman. Freddy has taken the flak and toughed it out against every kind of setback. He has not flinched. A man in his position with considerable personal wealth could just duck out of the whole thing and be sitting on a beach somewhere away from the eyes of the media which has sought to destroy him and us.

But Freddy has stayed with it. Freddy is a fan and is a fan's chairman. Whatever else might be said, Freddy has sought to bring a winning team to SJP and has not stinted in his efforts to back our various managers despite some idle murmerings amongst fans. You will recall that last Summer I drew your attention to 2 Mag headlines which incensed me, namely, the extremely childish "you are the weakest link - goodbye" (nul points for originality there I reckon) and YBR saying "Give me the money you jerks".

Well YBR got his money (much as I had said he would all through the Summer although people on here were clamouring for action in the first week of June). £16m was spent, our highest ever summer spend and the highest spend of any team not already in the CL. (Mag - he was given the money u jerks - I never saw any retraction of that headline) In came Bellamy and Robert and their contributions have been massive. A further £5m or so has been spent on Jenas who looks an absolute gem. £21m - not bad for a club with our huge (but manageable) debt.

The Academy looks well under way according to reports and Freddy has also managed to get some cash in for two of our most senior professionals rather than just have them drift away for nothing at season end.

The Champion's League now beckons. A manificent achievement for YBR and the lads and a vindication of Freddy Shepherd's decisions to back YBR to the hilt with transfer funds, to provide YBR with a 12 month rolling contract assuring maximum security to the manager and allowing him to pick his own time should he ever wish to go, and for entering the Intertoto which got the lads off to a flying start to a great season.

We are in the CL not in spite of the Board, but because of the unswerving support shown for YBR's plans by the Board. Whatever things FS may have said in the past, surely the Statute of Limitations must have a bearing here and Freddy has put a lot more back into the club than his ill judged actions several years ago may have ever taken out.

Take a bow Freddy. Thanks a lot - keep up the good work.

-- Anonymous, April 25, 2002

Answers

Aware Proprietor

-- Anonymous, April 25, 2002

Your turn Clarky ;-)

-- Anonymous, April 25, 2002

Have you seen what that Bastard has done to Byker? Jonno, I'm surprised at you!

-- Anonymous, April 25, 2002

Have you seen the environmental damage in Darras Hall due to a heavily creosoted fence?

Let's stay on topic here shall we? There will be no let or hindrance to a non footy thread about Byker, should anyone wish to start one. This isn't it.

-- Anonymous, April 25, 2002

Agree 100% Jonno. Thanks Freddy.

-- Anonymous, April 26, 2002

The cynical view would be that FS had nowt to lose by supporting a successful manager. Looks a bit chicken and egg to me.

If Bobby, for whatever reason, hadn't had us on the up over the past few seasons, would FS have been as keen to bask in reflected ignominy as he seems to be to bask in reflected glory ?

Obviously I can't argue with the way he's carrying out his directorial duties at the moment, but IMO it costs him nowt but cash and he has nowt to lose. Doesn't mean I have to hold him in any higher regard than I did when he made his mouth go.

Leopards and spots ?

-- Anonymous, April 26, 2002

I've given our portly leader stick in the past, but I'm willing to eat every word now. The man's a star. He's a fan and he really cares.

-- Anonymous, April 26, 2002

I was reading a paper last week, Independent I think, that showed the income of various owners of football clubs. Shepherd and indeed Hall were miniscule in comparison with some others, notably Ridsdale. Unfortunately don't have the figures. Anybody else read this?

-- Anonymous, April 26, 2002

I agree with this, except for one thing...the Save our Seats issue, which was an absolute disgrace. For a supposed long time Geordie fan to kick supporters out of their seats to make way for corporate types was shocking, and the empty seats at each match has shown that the policy was a disaster. The club should be looking to reduce the number of corporate seats in the Milburn stand because they will necer fill them all on a regular basis. It just costs the club money, stops ordinary fans getting in and looks embarrasing seeing so many empty seats.

Apart from that I'm very happy with FS. He is as ambitious as we are and hopefully will continue to do and say the right things for the club.

-- Anonymous, April 26, 2002

The amount of money he has taken from the club in dividends is immoral. If the club was making money yes, even breaking even, but not the amount it's losing. If his dividend policy continues the club will have less and less available funds, and then he'll leave as per Sir John Hall, another big fan of the team.

He also takes salary so it's not as if he is out of pocket on a day to day basis.

-- Anonymous, April 26, 2002

Just a quick question to those who may know....are those corporate seats actually unsold or do the rich buggers just watch the game from their box instead (as you get a seat AND access to a box for your £75 dont you?)

Or have I got this completely arse aboot face

cheers

Jonboy

-- Anonymous, April 26, 2002

As regards SOS, I think the main man has already fallen on his sword over this issue.

-- Anonymous, April 26, 2002

Do you think the SOS campaign and the "Toongate" thingy (or whatever it was called) have actually helped the long teem skills of FS, as he now knows he can't screw up again, so goes out of his way to keep everyone happy.

-- Anonymous, April 26, 2002

RIGHT!

Freddie Shepherd is a genuine Toon fan who, through his wealth and friendship with SJH, assumed the position of Chairman of the Club he supports, and Director and one of two major shareholders of NUFC plc.

He assumed management control of the club when it was riding high in the PL, and with a strong Balance Sheet. Since then he has presided over a period of turmoil both on and off the field – a period when the quality of both his football and business decision-making has been highly questionable.

On the business side, his period of control has been characterised by failure – failure financially, and a whole succession of public relations failures. The PLC has been ostracised by the City because of the cavalier way in which it is run. Because of this the major financial institutions who invested in the Club at flotation have exited, contributing to a massive collapse in the share price and leaving the shares widely regarded as “toxic waste”.

Shepherd has overseen a period characterised by a massive destruction in shareholder value – and viewed by the business community, he has been a failure – at least to date. If NUFC were a plc with a normal equity structure, Shepherd (and indeed Hall) would have been kicked out by the shareholders long ago – however, given their controlling shareholding, this has not been possible.

On the football front, Shepherd’s appointment of successive Team Managers, Dalglish and Gullit, was disastrous, and his blind financial support of these two Managers meant that his third managerial appointment was massively hamstrung in seeking to re- establish the Club’s playing performance. During this period Shepherd was extremely fortunate that in three consecutive seasons the Club were ultimately able to avoid relegation from the PL. Given the major debt burden that FS had incurred to redevelop SJP (another business & football decision the quality of which could be extensively debated), relegation could potentially have proven terminal for the PLC.

While FS was indeed fortunate with regard to relegation, the underlying contribution of the 3rd Team Manager appointed by FS has to be recognised. This appointment was an inspired decision that FS should take enormous credit for, and has been largely responsible latterly for the gradual restoration of the Club’s playing position.

Under Shepherd’s tenure the Club has won nothing and his record is one of zero success. However, under Bobby Robson’s inspired leadership, qualification for the CL in 2002/3 is indicative of the continuing improvement in the playing squad and now offers genuine hope for tangible success in the near future. Looking back in 5 years time an assessment of Shepherd’s tenure could, and hopefully will, look very different to today.

Freddie Shepherd is a football fan and a street-wise businessman. His performance record to date is poor on all counts. His desire to deliver a successful Toon football team has caused him to take significant risks with the financial security of the PLC, and has significantly diminished shareholder value.

He has made one truly outstanding decision – the appointment of Bobby Robson. Since this appointment there has been a gradual turnaround on the playing front and the current season has been successful - although again without actually winning anything.

As things now stand, NUFC under Shepherd stands at the crossroads: the jury is out – what happens over the next 3-5 years will dictate whether the Chairman goes down in history as a Toon legend, or just another greedy failure. I have had many differences of opinion with the man, but I sincerely wish him bucket loads of success - and a vastly extended Trophy Cabinet!!

-- Anonymous, April 26, 2002

His desire to deliver a successful Toon football team has caused him to take significant risks with the financial security of the PLC

Bob Murray anyone?

-- Anonymous, April 27, 2002

Gullit, last week,give his impression of Fletcher as a fan who will do anything in his power to bring success to Tyneside. Who was most flattering about the club in general, all things considered.

-- Anonymous, April 27, 2002

He has made one truly outstanding decision – the appointment of Bobby Robson.

Agree with that Clarky, but how many of us would have made the same decision. As an ardent admirer of him since his England days I certainly would have made the same decision, Especially as Bobby himself was so keen to come.

-- Anonymous, April 27, 2002

Jonno - you will note that I made that comment as a bald statement of what I believe to be fact. It is not a value judgement, and I'm not suggesting it is necessarily good or bad.

As both a fan and a shareholder I find myself having to view this both ways; having effectively "lost" 80% of my investment at this point anyway, I can as a fan applaud his risk-taking and hope it keeps us moving forward. However, if this ultimately takes the Club down the toilet I would probably be more disappointed as a fan than as small shareholder.

Given the financial condition that the Club finds itself in after several years (8? 9?) under Shepherd's management, I understand the need now to take some risks to continue the present positive development of the Club. However, without being in full possesion of all the facts it is not possible for me to determine just how much of a risk he is actually taking.

I suspect Bob Murray is far more risk averse than Shepherd, and that he probably takes his fiscal responsibilities for all his shareholders more seriously than our Dynamic Duo. However, I don't know enough about the financial facts of the SAFC situation to be able to comment intelligently - and frankly I don't give a rat's about them anyway. As a word of caution - less than two years ago the Directors of SAFC no doubt thought they had it just about right.

-- Anonymous, April 27, 2002

Bob - funnily enough, seeing as how you mention it, it I actually wrote to Shepherd before Gullit 'resigned' and suggested that he replaced the dreadlocked one with Bobby Robson before we finished up in the Nationwide.

He never responded - as per his usual practice with fans and shareholders alike - but he did appoint Bobby, the following week. I'm not claiming any credit, merely endosing your view that this masterstroke wasn't exactly brain-surgery.

-- Anonymous, April 27, 2002

Saying that, there were a lot, and I mean a lot, of fans who said that BR was too old to be our manager.

I thought he was experienced and had a proven track record, but it was still a risk - Kenny Dalglish had the same qualities, except he wasn't a Geordie.

-- Anonymous, April 27, 2002

Once again Clarky I suspect that we are not a million miles apart on an issue whilst managing to appear at opposite ends of a battlefield.

Certainly, all and sundry now seem to accept the point that Shepherd is a fan and wants the same as us. Of course, if you listen to some fans' recommendations on transfers and the like, the club would probably have been bankrupt a long time ago, so clearly some restraint is being exercised (even if it is only forced upon us by the banks!)

The Dynamic Duo certainly have been a source of considerable glee to the Mackems for a few years now. It would be most interesting, would it not, if the Mackems could take a vote on whether they would prefer Shepherd or Murray at the helm? I suspect that the name "Shepherd" would be spat out from behind tightly clenched teeth! Which suggests that something is working at SJP.

Robson was, of course, the choice of SJH before TSM was appointed, and we can only wail and gnash our teeth that Robson didn't inherit that wonderful team that Keegan left behind ...

-- Anonymous, April 27, 2002