rumours and more rumours

By: j | November 30th, 2008

I have a fairly lowly opinion about rumours but I also recognize the Toon Army wants to hear of commentary that I can substantiate to at least a “moderate” chance. I wish at this time I could fill you with a collection of exciting “possible events” but unfortunately I cannot and in-fact two media somewhat unnerving reports are circulating about the Magpies right now that have a varied basis in truth.

In no particular order a number of media outlets are reporting that Joe Kinnear will not have additional funds available for the January transfer window. To readers of this blog that should be no secret as I have noted in the past of the financial issues related to owner Mike Ashley’s Sports Direct International plc and the problematic price of the stock since his June 2007 takeover of Newcastle. Additional funding should not be expected, the club will need arrange “net positive” acquisitions with additional costs of borrowing and unfavourable operating expenses netted into the bottom line. Personally I’m not even sure I would publish that under a hot piece of news, its a simple fact in a very challenging economic time.

Secondly the issue of Michael Owen resigning with the club is gaining a great deal of attention. While only twenty-eight years of age, many believe the skipper will look to ply his trade elsewhere with his contract expiring in six months time. This is obviously a difficult situation because it is predominately guess-work to answer if the club can resign him. However media reports are suggesting that a return to Liverpool is possible for the financially strapped price of £2m. This rumour lacking is any substantive evidence and is what I term “content”, effectively editorial chit-chat with a catchy headline. Please take with a grain of salt but also be aware this is just the start of rumours regarding his future with the club.