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Freddy Shepherd set for £2m pay claim
Oct 11 2009
by Neil Farrington, Sunday Sun
FORMER Newcastle chairman Freddy Shepherd is prepared to launch a £2 million-plus claim against United owner Mike Ashley.
The Sunday Sun understands Shepherd insists that the contract he had as Magpies’ supremo before Ashley’s takeover of the Toon in 2007 has not been paid off.
But although it is worth at least as much as the compensation pay-out Ashley was forced to make to Kevin Keegan, Shepherd is holding off on pursuing his claim because he fears it would only be added to United’s debts and put off would-be buyers of the club.
If Ashley officially announces that he is to stay in charge of Newcastle, Shepherd may set the legal wheels in motion.
But the ex-chairman may also investigate whether he can make a claim against Ashley himself rather than against United.
Meanwhile, as the Magpies’ takeover saga drags drearily on, it is thought that an unnamed Indian group may be the latest party interested in relieving Ashley of control.
Tyneside businessman Barry Moat is still at the heart of the takeover intrigue, along with two American groups, one of them fronted by Lancashire-based Geoff Sheard.
And I am told Sheard’s main backers may be the New York-based Starr Foundation, a charitable investment fund. Moat and Sheard have met for talks in recent weeks, although it is unclear whether there is any prospect of them pooling resources to fund a bid for United.
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