As reported by my colleague Damian Spellman on these pages yesterday, Shepherd is exceedingly put out by Newcastle’s meagre return of two points from a possible nine over the Christmas period, saying: “What has happened since the start of the season is just not on.”What Shepherd had in mind was an early exit from the Champions’ League, with a subsequent loss of more than £10m in revenue, and a less than convincing challenge for fourth place in the Premiership. To the fan, the most sincere and amiable sportsman in the world is a creep if his team doesn’t win and the most miserable skinflint alive is a credit to his race if he controls a champion.
However, in recent times fans have come to realise that the most important men in the organisation are those in the boardroom. Managers come and centre-forwards go, and across the years a team succeeds or fails because of the policies of the people who own the store. The history of every club in the game proves this is so.Some owners have proved themselves to be genuine benefactors, leaving us in no doubt that their involvement is sincere; others rate no better than carpetbaggers looking for a fast buck, industrial princes who use the game to advance their egos, or Johnny-come-latelys who have not been around long enough to establish their form. Nobody has yet bought a ticket to see a club chairman arrive in his seat, sit down and hold his hands across his abdomen.

High on the list of items that normally hold little interest for the average football fan is the identity of the team’s owners. Speculative outs: Sebastian Schemmel.SOUTHAMPTONSpeculative ins: Javier de Pedro (m, Real Sociedad), Oyvind Svenning (d, Sundsvall), Martin Rowlands (m, QPR), Paul Smith (gk, Brentford).Speculative outs: Anders Svensson, Jo Tessem, Agustin Delgado, Chris Marsden, Paul Jones.TOTTENHAM HOTSPURDefinite in: Michael Brown (m, from Sheff Utd).Speculative ins: Andy Reid (m, Nottm Forest), David Pizarro (Udinese), Diego (m, Santos), Nolberto Solano (m, Newcastle), Nicky Butt (m, Man Utd).Speculative outs: Stephen Carr, Kazuyuki Toda.WOLVERHAMPTON WANDERERSDefinite in: Ioan Viorel Ganea (f, Bursaspor).Speculative ins: Chris Marsden (m, Southampton), Paul Jones (gk, Southampton).Speculative out: Dean Sturridge.. David Gold, the chairman, has warned fans there will be no repeat of last season’s spending spree.”[The Birmingham manager] Steve Bruce would love to sign a forward of the calibre of Chelsea’s Eidur Gudjohnsen or Celtic’s Henrik Larsson, both of whom he admires, but such players come at an exorbitant cost which we could probably not afford unless we were sure of being in the Premiership next season,” Gold said.Even Ars? Wenger is not buying “I am happy with the squad that I have got I am not in the market at all. Adams has let Gerry Taggart go on loan to Stoke City and the arrival of Dabizas, who cost Newcastle £2m in 1998, will mean that the Northern Ireland international could be surplus to requirements at the Walkers Stadium.Aside from Manchester United’s almost certain purchase of a striker and a defender, and Chelsea’s almost inevitable extravagance on a world-class player or two, there are low expectations of widespread big deals.The situation at Birmingham, where money is limited if not absent, exemplifies the status of many clubs. The defender, who last appeared for Newcastle in February, needs first-team football to revive his hopes of making Greece’s squad for Euro 2004.It is a shrewd move by the Leciester City manager, Micky Adams, who is trying to strengthen his squad on a limited budget and bring in players who can help them stay in the Premiership. The Rotterdam-born left-sided player started his career with Feyenoord before switching to Ipswich in 1996. He signed for Celtic on a free transfer in July 1999.”He has proven ability, which will help give us some important strength in depth in the squad,” the Fulham manager, Chris Coleman, said.Another imminent deal will see Newcastle’s Nikos Dabizas sign for Leicester for a nominal fee.

“This looks like the actions of a man who is getting out with what he can get. He is taking his money and running.”Villa’s problem will be affording Viduka’s wages as he is being paid almost three times the salary limit at the club. However, O’Leary is prepared to fund the signing of Viduka by selling Juan Pablo Angel, the Colombian striker who has scored six goals in Villa’s last seven games.One window deal that was agreed yesterday was Fulham’s loan signing of Bobby Petta from Celtic until the end of the season. McKenzie is understood to have resigned to pursue the possibility of attracting outside investors, but his actions have brought into question his motives.”This is a man that’s supposed to be putting something back into the club, yet it is a strange way of organising a takeover,” said Dr Bill Gerrard, a professor of sport management and finance at Leeds University Business School. The rest could go to bondholders, while offloading the huge salary would also help at the bank.The former Leeds chairman, Professor John McKenzie, yesterday sold 500,000 of his 4m shares in the club, earning £15,000 after tax and other deductions.

Those options, both of which could cost United less in wages, take the pressure off the champions to sign Viduka. That is likely to strengthen O’Leary’s hand.Leeds will sell Viduka because the transfer fee may help satisfy the short-term demands of two of their major creditors before the 19 January deadline when they may face administration. Viduka was signed on a player-lease arrangement and some of the fee would go to Registered European Football Finance, the Guernsey-based company which financed his £6m move from Celtic. The Villa manager is hoping they will be desperate enough to offload that contractual liability to sell the player at a bargain price.Manchester United have also made an approach for Viduka but are interested in other targets including PSV Eindhoven’s teenage winger Arjen Robben and Fulham’s Louis Saha.