Ashley could take Toon control without Freddy's support
Mike Ashley believes he will take control of Newcastle without needing to receive the backing of Freddy Shepherd. The sports shop magnate bought a near 42 per cent stake in the club from Sir John Hall on Wednesday for £55m.
Ashley has effectively offered Shepherd almost £38m to acquire his near 30 per cent stake in the club, but his advisors believe he will get the backing of enough shareholders to pass the 50 per cent ownership that will effectively signal the end of the Shepherd era anyway.
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Ashley: Expects to achieve 50 per cent of shares without Shepherd's holding
There are also suggestions he may have been buying small pockets of shares in the build up to his buy-out of the Hall family.
Shepherd, who spent Wednesday evening in hospital because of a lung infection brought on by a cracked rib, has vowed to fight Ashley in his bid for full control.
But with less than a 30 per cent holding in the club, that looks like a futile scrap for the 63-year-old.
If Ashley passes the 50 per cent mark, and he is so supremely confident of doing so he expects to do it within two months, he will take control and would then most likely sack Shepherd as chairman.
Shepherd could not have been given a much bigger vote of no confidence than that which the local Tyneside paper provided on Thursday night.
In an on-line poll, more than 96 per cent of Newcastle fans believe a takeover will be good for the club, ending Shepherd's decade in charge at St James' Park.
