Source: Daily_Mail
Cash crisis at Newcastle is Shepherd's fault, claims Llambias
With Newcastle preparing to make multi-million-pound pay-outs to Kevin Keegan and Jonas Gutierrez's former club Real Mallorca, St James' Park managing director Derek Llambias has launched a fresh attack on the former chairman Freddy Shepherd.[LNB] Keegan's legal claim following his September departure could be as high as £8million, while Mallorca, who are still unhappy at the summer exit of Argentina winger Gutierrez, are claiming £4.5m for the player's move to Tyneside. [LNB] Still to pay: Newcastle are set for a pay out on Jonas Gutierrez[LNB]Llambias says owner Mike Ashley will fund the two settlements if necessary but has warned that could hit other aspects of the club's finances, even though Newcastle finished in profit following the transfer-window departures of Shay Given and Charles N'Zogbia. [LNB]London casino owner Llambias blamed Shepherd and the previous regime for squandering money invested by major backers Northern Rock and adidas. [LNB] Newcastle defender Taylor backs new players to keep the club safe[LNB]Newcastle boss Kinnear told he needs to 'chill out' after heart surgery[LNB]HATCHET MAN: It's all in black and white so it must be true - Newcastle are heading in the right direction, says chairman Llambias[LNB]NEWCASTLE UNITED FC NEWS FROM ACROSS THE NET[LNB] [LNB]Llambias said: 'Mike has had to put £10m of his own money into the club this week to facilitate the running of the club - that includes £4.5m to buy Kevin Nolan, because the fees for Shay Given and Charles N'Zogbia will not be received until the summer. [LNB]'And he will continue to put his own money in. He is willing to put £10-15m of his own money in every year, but the rest of the money, for transfers and so on, has to be generated by the club's own business activity. [LNB]'We don't have any commercial income at the moment because that was spent to pay for Michael Owen. It was all spent in advance, that's the money from Northern Rock and adidas. That is crazy for any football club because we need that income. [LNB]'We are hoping to reach two important settlements in the next week or so which potentially could cost the club a lot of money. [LNB]'One of those is the settlement with Kevin Keegan and the other is the fee for Jonas Gutierrez. We are talking about millions of pounds here and, if we have to pay out a vast sum of money, that will hit our revenue elsewhere.' [LNB]However, meetings with Keegan's legal advisers have failed to bear fruit so far and it is believed the arguments over any proposed settlement could rumble on until the start of next season. [LNB] Settling: Former Newcastle boss Kevin Keegan is set for a payout[LNB]Meanwhile, Sunderland chairman Niall Quinn leapt to the defence of his club's major investor, Ellis Short, whose role has been criticised by bitter former manager Roy Keane. [LNB]Keane claimed this week that Short's interference curbed his enthusiasm for the Wearside club, who have been guided away from relegation trouble by Ricky Sbragia.[LNB] But Quinn says that without investment from the Irish-American Short, Sunderland would not have been able to keep Kenwyne Jones or add Djibril Cisse, Anton Ferdinand, Steed Malbranque, Teemu Tainio and George McCartney during Keane's £50m summer spending spree. [LNB]Quinn said: 'His money was vital. Sunderland fans won't understand how much because he doesn't like publicity. And he has options to take more of a stake over a period of time and that will again go on investment in players. [LNB]'He doesn't tell us what to do. He supports, but he likes to see us being intelligent and slick about our business and the disposal of some excess players was a help to us economically and also to the dressing room. The club has never had the sort of backing that he is providing now and we will have it as long as we are showing ourselves to be a smart outfit.' [LNB]Middlesbrough manager Gareth Southgate insisted on Thursday that his side's FA Cup progress will help salvage their season. Four months ago Boro were looking at UEFA Cup qualification, yet now the club are in the thick of a relegation fight after falling into the bottom three. [LNB]But by knocking West Ham out of the Cup on Wednesday night to reach a quarter-final at Everton, Southgate hopes Middlesbrough have reached the turning point. [LNB]The Boro boss said: 'The performance will give everyone more belief. We have got a big game on Saturday but Liverpool have just beaten Real Madrid so we have a fair game on our hands. [LNB]'I am just chuffed for the players because it all ends up falling on them. They deserved the result because they have kept driving on over the past few months. The win has given them renewed enthusiasm and the training ground will be a good place this week. That will make for a nice change.'[LNB] Newcastle defender Taylor backs new players to keep the club safe[LNB]Newcastle boss Kinnear told he needs to 'chill out' after heart surgery[LNB]HATCHET MAN: It's all in black and white so it must be true - Newcastle are heading in the right direction, says chairman Llambias[LNB]NEWCASTLE UNITED FC NEWS FROM ACROSS THE NET[LNB] [LNB] [LNB]
