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Newcastle United deal close as Mike Ashley offers club to local investors


Jimbo
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The future of Newcastle United should become a lot clearer on Sunday when advisers to the owner, Mike Ashley, are scheduled to meet with a group of local investors seeking to buy the football club.

 

 

By Duncan White

Published: 6:21PM BST 06 Jun 2009

 

 

Ashley wants to sell the club as quickly as possible and, with four separate investors looking through the finances, hopes that a deal can be struck within a fortnight.

 

He bought the club for £134 million in 2007 and has spent at least another £100 million reducing the club's debt, but is now believed to be ready to accept an offer in the region of £100 million to facilitate a quick sale.

 

Whoever takes over will not face large liabilities, but will need to reduce dramatically the bloated annual wage bill of £75 million if the club is not to start operating at a loss.

 

It has been reported that the Newcastle-based group had Middle East backing, but the interest of potential investors in Dubai seemed to recede dramatically last week.

 

Sunday's meeting should determine whether these local investors, whose identity has yet to be disclosed, have sufficient funds to complete a takeover.

 

In the interim, there has been no progress on Alan Shearer's efforts to be appointed manager on a permanent basis.

 

Shearer is on holiday in Portugal after Ashley refused to meet his wage demands and will now have to wait for the club to be sold before re-entering into negotiations.

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smoke and mirrors again if ya ask me, the bullshit may get deeper the longer this goes on, the club has always been for sale and tabloid headlines and club statements are media bollocks to feed interest ;)

 

Undoubtedly.

 

What is puzzling is their (now) repeated insistence to go so "public" about it.

 

You don't sell a football club like Newcastle because someone reads a newspaper sports section and goes "Oooo Newcastle is up for sale..... hmm", so why the suicidal insistence on it ;).

 

 

If he'd not gone for his ridiculous public "I must sell the club" :lol: last season we'd have got at least 1 more point and NOT been relegated.

 

They seem to be retarded.

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smoke and mirrors again if ya ask me, the bullshit may get deeper the longer this goes on, the club has always been for sale and tabloid headlines and club statements are media bollocks to feed interest ;)

 

Undoubtedly.

 

What is puzzling is their (now) repeated insistence to go so "public" about it.

 

You don't sell a football club like Newcastle because someone reads a newspaper sports section and goes "Oooo Newcastle is up for sale..... hmm", so why the suicidal insistence on it ;).

 

 

If he'd not gone for his ridiculous public "I must sell the club" :lol: last season we'd have got at least 1 more point and NOT been relegated.

 

They seem to be retarded.

 

I think it is a strategy of his to deflect responsibility.

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