Indian Tycoon Denies Newcastle Takeover Bid
Indian billionaire Anil Ambani has dismissed media speculation that he is preparing a £220m takeover of Premier League club Newcastle United.
Ambani, the sixth richest man in the world, had been linked to a bid to end the trouble-hit reign of sports retail magnate Mike Ashley following the resignation of manager Kevin Keegan last week.
Ambani, who is said to be worth £21bn, was first linked with a move for Newcastle last month and, despite strenuous denials, he was still said to be ready to seek talks with Ashley this week regarding a buy-out.
However, his representatives have denied that the chairman of the Indian phone giant Reliance Communications is on the verge of tabling a bid for the club.
A spokesman said: ‘Our position is that nothing has changed and we have been wondering why these stories keep surfacing in England. We have not expressed interest in Newcastle. There is nothing in the latest stories. It’s a non-starter. As of now there is no interest, although I cannot speculate on what may be the future plans of my management.’
Lifelong fan Ashley, who bought Newcastle for £134m last summer and spent £80m wiping out the club’s debts, has been looking for fresh investment but it is unclear whether he is willing to sell despite the swell of public opinion against him following Keegan’s departure.
