Freddy Shepherd has urged suitors of Newcastle United to 'put up
or shut up'.
The Magpies have been the subject of takeover rumours for several
months with the Belgravia Group keen on buying the club.
Though Belgravia have yet to make a formal offer, due diligence has
been completed, while other groups are interested in buying a stake
in Newcastle.
But current chairman Shepherd is becoming increasingly frustrated
by the protracted nature of negotiations and feels it is time a
firm bid was made.
"I would like it sorted out as soon as possible," Shepherd told the
club's AGM.
"Enough is enough. It has not affected the team or the management,
but the longer it goes on it makes for a lot of uncertainty around
the club.
"It is time they put up or shut up, it is as simple as that. I
don't make the rules, I abide by them. Let's get on with it."
Shepherd admits he would stand aside if a suitable offer is made
for the club, but feels an enormous investment is required to
ensure Newcastle are challenging Chelsea for the title.
He added: "I am a Geordie and I don't want to move anywhere. But at
the end of the day it's about finding whatever is the best for the
club.
"Multi-millionaires are not enough any longer, you need
billionaires. We would have to make sure that they would be fit and
proper people to take over.
"It would be a clean break. I would not hang on, that's not right
for any company. I've been involved with a few companies down the
years and it doesn't work that way in my opinion."