Toon tycoon Douglas Hall has sold off a further £1 million of Newcastle United to prop up his flagging business empire. The Newcastle plc vice-chairman sold off 4,388,887 shares in the club owned by his debt-ridden company Cameron Hall. The 3.02 per cent stake in Newcastle was bought by Copia Holdings Ltd., believed to be an offshore firm in which Hall is an investor. The shares were sold at the going market rate of 20.5p meaning Cameron Hall netted just short of £1 million. Struggling Cameron Hall were known to be more than £40 million in debt but in the last six months have off-loaded most of their assets. The company had a 22.6 per cent stake in United but that is down to just 4.2 per cent after the latest deal with around £15 million raised. Last week the Chronicle revealed Sir John Hall had bought back a major stake in Newcastle United from his son. Since the club was floated on the Stock Market in 1997 the share price has plummeted from the original £1.35. The surprise move by Sir John came despite Douglas originally receiving the shares when his father stood down as chairman in 1998. Sir John now has a 8.4 per cent stake in the team, while Douglas has a personal holding of just short of 40 per cent. He still owns 59 million shares in the club, but many analysts predict he may sever his ties. Frank Gilmour, chairman of the Newcastle United Independent Supporters' Association, said: "If Douglas Hall went I am sure he wouldn't be missed by the majority of fans. And judging from his business problems with his company I think it would be a good thing for Newcastle." One insider close to the company said: "It has been known for a while that Cameron Hall have been keen to get rid of most of their assets. Now it seems like they have just about done that." Last week it was announced Douglas had picked up share dividends of half a million as record financial results showed United increased turnover for the six months to January 31 by 11 per cent to £35.8 million. No one from Cameron Hall was available for comment. | 
