Shepherd A Step Closer To £60Million Takeover Bid


By Tyne-Talk
June 30 2009

Reports this morning suggest that former Newcastle United chairman Freddy Shepherd is one step closer to regaining control of the club after a consortium headed by himself is reported to be ready to make a £60M takeover bid. Shepherd sold his stake in the club 2 years ago when current owner Mike Ashley completed a £134Million takeover. Prior to Newcastle being relegated at the end of last season Mike Ashley had placed the club on the market and then withdrawn it again due to lack of interest. Since being relegated the club is back on the market for £34Million less than what he originally paid.

The current £100Million price tag is also two thirds cheaper than what he was requesting last September when he was looking for a buyer to match his £300Million asking price.

Ashley is also said to have invested £244Million in clearing club debts and player/staff wages.

Keith Harris who is in control of the sale has previously said that he expects a deal to be done by the end of the month. However it is unclear how the fans will react to Shepherd resuming control despite the promise of installing Alan Shearer as the permanent manager.

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Shepherd A Step Closer To £60Million Takeover Bid
Discussion started by TyneTalk (IP Logged), 30/06/2009 13:22
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30/06/2009 13:22
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