The NEW Newcastle chairman Chris Mort claims his club were on the brink of "folding like a pack of cards" until billionaire Mike Ashley and Mort arrived like King Arthur and Sir Lancelot to buy out Fat Fred's regime.
Mort 'Economic With The Truth' About Club Finances!
Mort said that the Freddy Shepherd era at St James's Park lurched into a perilous position shortly before Newcastle was taken over by Mike Ashley four months ago.
Mort: "We were surprised at how bad the financial position was - they were in big trouble.
"If the old board had not re-financed the club by the end of the financial year on June 30, it would have folded like a pack of cards."
I'm waiting for Freddy to reply ... because ... as sure as God made little apples ... Freddy will respond in full!