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£300m expected for Newcastle
Hugo Duncan, Evening Standard30 Sep 2008
Mike Ashley was today preparing for a quick exit from Newcastle United by selling the football club for £300 million.
That would represent some £50 million of profit for the Sports Direct retail tycoon who bought the club for £133 million in June last year and has since invested a further £111 million.
However, the sale price is well below the £480 million Ashley has been touting the club for in the Middle East.
The sales prospectus is complete and documents requiring would-be buyers to sign confidentiality agreements to see the club's books have been prepared.
A Nigerian consortium hoping to buy Newcastle claimed to have presented its bid to Ashley, who has seen his plans for the club destroyed by widespread hostility from the so-called Toon Army of fans angry at poor results and the exit of Kevin Keegan as manager.
The UK businessman fronting the bid, Chris Nathaniel, refused to confirm the size of the offer.
Reader views (1)
Its about time Ashley had gone. Accept the offer, get Keegan back in and lets get back into some routine of winning games. King Kev would jump at the chance of returning for another go, but this would need to be his make or break at this attempt. I have been a Newcastle supporter for 35 years now and have never been so upset for a clubs supporters and how they have been treated regarding this affair. Dennis Wise, whos he...... a has been that was dirty when he played and is dirty in the boardroom, get shut of this tosser as well. This guy should be removed from the post he holds and whoever voted him in for the job wants sacking as well. ..........Come on you TOONS.........
- G Burgess, Sheffield, United Kingdom, 14/10/2008 12:51
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