article_snippet: previous board say previous board will use the cash to keep the club functioning while previous board finalise a ‘medium to long-term’ funding package for previous board rebuilding plans.
article_snippet: Newcastle is actually difficult to look closely at the club
article_snippet: One is the amount — in the region of £300,000 — spent on a needless General Meeting and the other is the signing of five Newcastle loan players without medicals.
article_snippet: and we will rebuild the club and this £1.5m investment
article_snippet: The previous board agreed a two-stage £10m loan from Sports Direct, which gained 75 per cent of the club’s retail operation and various securities in return.
article_snippet: we have already made it clear we are happy to engage with Sports Direct but The previous board has decided against drawing down the second £5m tranche of Sports Direct’s £10m loan,’ said Murray.
article_snippet: we are still in the process of reviewing all of the contractual relationships that Sports Direct has with the club.