Sponsored by
Newcastle United takeover bid is led by Halifax firm
A UNIQUE fan-based takeover bid for Newcastle United has been launched by a Halifax financial consultancy.
Halifax-based SIPP Broker, of St John's Lane, is leading the consortium Fanbase 410 to bid for a share-issue fans ownership system for the club.
The company has already broken into new markets by becoming the only firm in the country to sell solely self invested personal pensions which give people more control over their savings.
The venture is being fronted by the firm's newly appointed business development managers, former footballers Graham Roberts, who played for Tottenham Hotspur, and David Speedie, who played for Blackburn Rovers.
And it already has the full backing of the Newcastle United Supporters' Trust.
Fans would be asked to invest savings or give their pension scheme to SIPP, which will invest the money three ways into three new companies, which have capital security.
A percentage goes to the supporters' trust and investors could get a 6 per cent return year on year.
"The supporters' trust is the key," said SIPP director Lynn Steele. "They said they have seen lots of ideas but think this is the one that is going to work.
"It's an innovative way of purchasing. It will be the Barcelona of the north east."
Barcelona is owned by its 108,000 club members.
"It's a whole new way of running English football. I know it will work."
There would be 20 board members, made up of seven elected yearly from the supporters' trust, and local business people, accountants and professionals. Alan Shearer would be appointed manager.
A "promising" first meeting has been held with the Newcastle board and more talks are expected.
A three-week campaign has been launched, which will allow Newcastle fans to apply as investors
Mrs Steele said: "In the words of Sir Bobby Robson 'What is a football club? It's not the park or the stadium or the players or the manager – it's the fans'."
Email to a friend
Print this page
Looking for...
Featured advertisers
Jobs
Search for a job
Motors
Search for a car
Property
Search for a house
Weather for Halifax
Thursday 09 February 2012
Today
Light sleet
Temperature: 0 C to 1 C
Wind Speed: 9 mph
Wind direction: West
Tomorrow
Light sleet showers
Temperature: -0 C to 1 C
Wind Speed: 9 mph
Wind direction: South
