Winding up orders, transfer embargos...

Last updated : 06 January 2010 By Jacob Daniel

Yup, the last two days have seen the latest in a season long saga of good news, bad news and news that we don't quite understand. The latest revelations fall pretty heavily into the second category, with HMRC having issued the club with a second winding order and subsequently a transfer embargo having been slapped on the Magpies by whoever hands them out. In truth, we don't really understand the intricacies of the whole situation and anything we say would just be guesswork and there's more than enough of that to get stuck into on the NCM Messageboard so we're just going to try and run through the facts and what we actually know. Well, what Peter Trembling has told us.

- HMRC has called in a tax debt of £600,000 and it has emerged that the club's total debts stand at £1,500,000.

- Peter Trembling has said that he hopes investment can be secured next week and that he is very confident the tax bill can be paid. He also hopes that the transfer embargo will soon be lifted so the Magpies can bring in 'at least four new players'.

- Tord Grip and Sven Goran Eriksson will almost certainly leave the club if major investment isn't found.

- Eriksson and Trembling in London today for key discussions about securing new investment.

- Around £3m is needed to make the club 'sustainable', whatever that means. £25m is needed to keep the Premier League dream alive, whatever that means now.

This is a fairly brief run through of events and when I get a proper chance to sit down and have a look at everything that's been said i'll try and collate some thoughts on the matter, but for now it's time to hope that next week goes to plan.