EXCLUSIVE: NEWHAM COULD GO BUST 'BY THE END OF 2011'

Newham and Essex Beagles lost £210m in the last financial year and could go out of business by the end of 2011, according to a report seen exclusively by the lufbra echo. The London club's dire financial performance has been blamed on ever increasing oil prices meaning it is costing a fortune to fly athletes in from all corners of the globe. "Obviously these are very disappointing results" said a senior aide to the Chairman "the important thing is that we have a clear plan on how we deal with this debt".

However, insiders are privately "gravely concerned" that the club will have nowhere to go if they fail to land a lucrative new contract with a private sponsor soon. "The decision not to award us the Olympic Stadium (it went instead to West Ham United) was a major blow" revealed an anonymous source "the club had always budgeted on getting the increased revenue from that. I do not know how we will cope without it - the truth is that there is no Plan B".

Newham spent £150m on wages alone last year and Team Manager Bob Smith, has been told that he will "have no money to spend" for the foreseeable future. It is also understood that Smith has himself taken a 20% pay cut as part of the club's austerity measures. Refusing to comment on the financial situation, Smith used his weekly press conference to talk up the club's "superb squad" and "to notch morale" heading into the National Road Relays next weekend. "We smashed it up last year" said Smith "and there is no reason why we can't do the same this. We are the number one club in Europe right now and will be proving it in the coming weeks and months. Belgrave are history".

The North London club were fined heavily in January after they breached transfer rules. This - coupled with a failed takeover bid from a group of wealthy Arab businessmen - is thought to have led the club into the dire position they now find themselves in. Rumours that the likes of Robbie Schofield and Mo Farah will have to be sold to help pay the bills are unlikely to appease the already uneasy fans. A spokesman for the Newham Supporters Trust blasted the "lazy, good for nothing management" that were "leading the club into terminal decline." Calling for a "fan centred" approach, the source claimed that a 10% increase in season ticket prices were "driving fans away".

NEWHAM SALE FACES HIGH COURT TEST

The sale of one of England's most successful clubs - Newham and Essex Beagles - has been thrown into chaos this evening after one of its suitors failed a fit and proper persons test. The club is saddled with £750,000,000,000 of debt and there are genuine fears that it could go into administration if it parent company fails to meet HMRC deadlines later this month. Such a move would mean an automatic 9 minute addition to any time recorded by any Newham athlete this year. It was hoped that the famous Black and Yellows would be snapped up by a rich American tycoon who had promised to release the club of its financial burden and set in motion plans to build a new stadium. However, the billionaire has been refused permission to purchase the club after caving in under questioning from UKA attack dog, Ian Stewart.

Whilst this is a sad day for a famous old club, many have said that they have seen this coming for a while. When Newham signed Frank Baddick for £30,000,000 and then proceeded to pay Mo Farah £150,000 per week (making him the second best paid athlete in the country after Paula Radcliffe), it was clear that this was no way to run a business. Prize money from the Southern Six Stage will go some way to filling the gaping whole in the club's finances but with news emerging that they have had to let Robbie Schofield's private shoe assistant go there are fresh concerns over the future.

An insider revealed that replica kit sales had been "catastrophic" this year and Asics were considering pulling the plug after years of loyal support. "It seems that Newham are not bringing in the punters overseas any more," said the source "Chris Thompson is the new international hero now and the Chinese are crazy about him. Aldershot will do well to cling on to his services." Meanwhile, Newham are left with an enormous salary bill and staring oblivion square in the face.

NEWS ROUND-UP.......

The Echo rounds up everything you need to know....

LAUNDRY GAFFE LEAVES WELL KNOWN SPORTS BRAND FUMING

A “washing mix up” from one of the foremost distance runners in the country has left his sponsors “absolutely disappointed”, the Lufbra Echo can reveal. The athlete, who is based in the North West of England, was photographed last week running away from a swan and clearly wearing another company’s kit. Whilst the names of both the athlete in question and the companies involved cannot be revealed, we can confirm that the individual “does not wish” to terminate his contract. A well-placed source told the Echo that the error was owing to “reds being washed with whites”. “[Unnamed athlete] is very well known in [the area in which he lives] and as such did not want to be seen training in pink kit….the locals around here can be quite mean”. The sports brand is said to be “one of the top three” in the world and is thought to be “considering its options”. An insider at the brand said: “I can tell you that this has gone to the very highest level. The top man has been recalled from his holiday to discuss it and nothing is being ruled out at this stage.”

NEWHAM IN ARAB TALKS

Newham and Essex Beagles look set to be taken over by a syndicate of wealthy Dubai-based businessman, the Lufbra Echo understands. It is believed that the group are buying the club as there “are no football clubs left” and have promised “European Domination” within the next three years. It is understood that George Gandy and Ian Stewart have already been approached to head up the venture and other “top stars” are said to be involved. Newham have had some well catalogued financial troubles since they paid “several pounds” to secure the services of Alasdair Donaldson. An insider told of the “eye watering” salaries that athletes receive. “[Robbie] Schofield gets paid five pounds per race,” said the anonymous source, “and I know that Frank Baddick has been looking for a pay rise. You can’t sustain a business like that.” Newham’s woes were added to when they released their “disappointing” kit for the new season. One retail analyst said that consumers “just were not interested” in the bright yellow designs. Some have indicated that the kit will be the first thing changed by the new owners as well as “hugely exciting” potential bids for the likes of Kenenisa Bekele and Pete Matthews. Matthews' club have since issued a "come and get him" call to the London club.

ARMSTRONG ONCE TOOK “SOME IBUPROFEN”: LANDIS

With the Tour de France getting underway today, it is traditional for previously disgraced riders to publish some accusations about former team mates. This year was no different, but Floyd Landis’ sensational revelation has left many in the sport reeling. “I clearly saw Lance take several ibuprofen tablets during training,” frothed Landis in this morning’s Wall Street Journal, “he claimed to have a headache, but we all know that he just wanted to stop some inflammation….it made be so physically sick that I went and took a load of testosterone to get over it.” The story will come as a relief to Tour officials as there were rumours that this year’s Tour was set to be “scandal free” after the Echo blew the lid on a negative test at the Giro D’Italia in May. An insider said: “thank goodness for Floyd! We didn’t need much more from him after he so generously lit up the 2006 Tour by taking more testosterone than all of the world’s top sprinters put together.” Other sources have indicated that Tour chiefs will be writing to Landis in order to thank him for the interviews along with a request that he test positive again at next year’s Tour. “I do love a good life ban,” said one interested observer.

EBAY SCAM LEAVES LOUGHBOROUGH STAR OUT OF POCKET

One of the “lesser athletes” at Loughborough University has been the victim of an eBay scam. The athlete in question was said to be trying to replace his faulty iPhone with an “absolute bargain” from the popular bidding website. A source close to the long-distance man said that he “could not understand” what went wrong. “It seemed completely legitimate,” said the insider, “all he had to do was leave £330 in used notes underneath a stolen car in Leicester and the phone was then going to be sent out to a derelict house just outside Nottingham.” It is thought that the star did not realise that he had been conned until he received a mug through the post. “He’s really cross,” our source went on, “we all agreed that it seemed perfectly normal.” The athlete in question is undergoing counselling for the loss of his iPhone and is being forced to use a “normal phone like normal people.” It is hoped, however, that Ryan McLeod- currently using the iPhone 9th Generation (not yet released)- will let him look at one of the older phones from time to time.

SPORT CITY BMC: ‘SLOW TRACK’ ANGERS ATHLETES

Numerous athletes have hit out at the Sport City surface this evening, with some stating that it is the “athletics equivalent of Wembley”. BMC chiefs have been involved in an emergency meeting this evening to discuss the issue after many complained that the track seemed “too spongy”. “It cost me at least 2 seconds a lap”, thundered an unnamed 5,000m athlete searching for a computer to whine on Eightlane, “it really is unacceptable in a meeting like this. I expected better.” Rumours that meeting officials were considering “rounding down” all times by a few seconds have dismissed along with reports that the “last 300m was too long”. A spokesman said, “we take these sorts of complaints very seriously and so will look into them. However, all times remain the same.”

Meanwhile, Ben Scarlett was left red faced (geddit?!) when he mistakenly took a friend’s spikes to the race. Aside from upsetting his sponsors- the rogue spikes were some three sizes too large for the 1:48 man causing him to stumble badly at the start of his race. Explaining the mix up, Scarlett said “these things happen. I thought it was a bit weird when I was doing strides, but it was only after I looked down at the start that I realised. I’ll be back”. Scarlett was not the only one to be upset at the start. Many athletes have slammed what they called “an excessively loud” starter’s gun. “It made me jump right out of my skin,” harrumphed a distraught Robbie Schofield, “it ruined any hope I had of running well.” Others reported a “sharp rise in heart rate” upon hearing the gun. “Look at these readouts,” stormed Steve Sharp brandishing his Garmin, “can you see the spike? That has to be worth at least a second a lap.”

“Over enthusiastic crowd support,” also received a fair bit of stick this evening, with some athletes calling for future events to be held “behind closed doors.” One upset 1500m man said that it was “really time the BMC addressed this.” Asking to remain nameless, the athlete continued “when you are in the racing zone, the last thing you need is some Muppet banging on the advertising boards and shouting ‘dig in, mate!’ What does that even mean? They might as well scream ‘keep putting one foot in front of the other at a reasonable pace’- that’s how pointless it is”.

BMC executives were keen to play down the concerns raised and instead hailed a “hugely successful evening of athletics”. A senior source said, “what a thrill it was to watch these great races and the women’s events as well. I know some people were disappointed with their times and we are looking into that.” The spokesperson remained coy on whether the Sport City track will now be dug up and resurfaced- but with some threatening a boycott next year, it may well be the only option.

SCHOFIELD DOUBT FOR BUCS AFTER GOLDFISH DEATH

Robbie Schofield has thrown Loughborough’s plans for next weekend’s BUCS Championships into chaos after announcing the death of his goldfish, Henry. The 1:49 800m man was amongst the favourites to win his event, but has now revealed that it is “unlikely” that he will be able to compete. An ashen faced Schofield revealed his “devastating” news at a hastily arranged press conference this morning. “Henry and I had been together for a little over eighteen months,” said the Newham and Essex Beagle, “I feel empty inside now. I can’t even think about running.” Schofield also revealed that the death was unexpected and the result of a “catastrophic” accident in the lavatory. “I was giving Henry his weekly clean and so had transferred him into another bowl,” sobbed the fastest U20 800m athlete last year, “my phone rang and I jumped, knocking Hen down the loo. I tried to save him, but there was pure bleach down there- he never stood a chance.”

Loughborough’s Director of Athletics, George Gandy said that Schofield’s withdrawal would be a “major blow” for the African Violets. Speaking from Front Romeu via Skype, the guru said “our thoughts have to be with Robbie right now and I won’t be rushing him into making a decision- it’s entirely his call.” Gandy added that Schofield would be placed on compasionate leave for the foreseeable future. “I know that the fire brigade have now retrieved the body of the fish and so arrangements can be made. This may take a while though as there has to be a post mortem.”

It is true to say that Schofield has not had the same vote of support from other coaches at LSAC. David Howe, Gandy’s illustrious sidekick and the man currently in charge of Loughborough’s endurance operation labelled Schofield “careless”. “I think the real question here is why Robbie was allowed to keep a goldfish at all,” said the Canadian, “cleaning the tank in the bathroom is surely an accident waiting to happen.”

Schofield’s official website has been closed today “as a mark of respect” but his spokesman said that the 19 year-old hoped to be back competing “in the next few weeks” and that a decision on BUCS would be left as late as possible. LSAC Chair, Rob Hodges confirmed that black ribbons would adorn all Loughborough vests at the event in memory of Henry.

SPINELESS LOUGHBOROUGH MADE TO PAY BY RUTHLESS PRESTON

Loughborough Athletics Club has suffered its second Beach Rounders defeat to ‘The Preston Lot’ in as many weeks after a quite woeful display today. Pressure on LSAC’s management will now be at an all time high after fans booed the players from the beach this afternoon. In truth, Loughborough never really looked interested in windy conditions and quickly found themselves well behind in the first innings. Andrew Mariani and James Griffiths both dropped relatively simple catches as Stephen Emery looked jaded from his Tuesday night training session. The only high point for Loughborough was the successful completion of the game by injury-ridden Pete Matthews. However, his very involvement was contentious after having a three match ban overturned by the Court of Arbitration for Sport this very morning. Matthews had been slapped with the ban- as well as a £50,000 fine- after he was accused of miscounting and general unsporting conduct last week. As it was there was little the red head could do to prop up his turgid team mates. Loughborough clearly had their eyes on tomorrow afternoon’s track session as the Preston middle order ran riot in the latter stages of the match. The bowling performance of Sebastian Foy was branded “a joke” by one season ticket holder as he tossed his match-book into the sea. “I won’t be coming to watch anymore,” he continued, “I have followed this team since I was a boy, but they [the players] are clearly only in it for financial reasons now....I am going to watch a sport not yet tarnished by money so I am going to buy a Chelsea FC season ticket next year.”

The latest set-back comes amid reports of a growing unrest in the Loughborough dressing room. Rumours have been circling that Matt Sullivan is looking for a big money move to Birmingham and that Ben Green has fallen out with the coaching team. Their non-inclusion in today’s match only served to underline both their tenuous position and LSAC’s frailty in depth. Whilst exciting new signings were made in September- Robbie Schofield among them- the near £30m spent by the committee has not been in evidence at all this season mainly owing to injury and “other commitments”. LSAC Chair, Rob Hodges bemoaned their absence as well as “strange” officiating decisions after the match. “Obviously it is very worrying,” said Hodges, who could not attend the game but watched it on Sky Sports, “we are just three points above the drop zone now and have not won in a while.....however, I can take heart from a performance of character in difficult circumstances- the ball clearly went into the sea on two occasions and was not replaced. That is very poor.”

Speaking from the East Midlands, a spokesman for LSAC head honchos said that the jobs of Hodges and the rest of the coaching team were safe. “We do not make swift decisions and knew that the controversial introduction of the likes of Alasdair Donaldson would unsettle things briefly," said a senior aide to the Vice Chancellor, "what this club needs is stability and we are confident that Rob and the rest of the team will provide that in the long term.”