Newcastle United Sale Talks Progressing
Despite the turbulent economy, negotiations regarding the sale of Newcastle United are going ‘extremely well’ according to the investment bank brokering the deal.
Keith Harris, chairman of investment bank Seymour Pierce, told the media that there are several groups who are ‘seriously interested’ in the club and that he would be surprised if current owner Mike Ashley was still at the club at the end of the season.
Said Harris: ‘I’m quietly confident there’ll be a good solution for Mike and the fans.
‘In his time of owning it, Mike has cleaned up the balance sheets and Newcastle is one of the few clubs that has no debt whatsoever, so that makes it very attractive to an incoming owner.’
Harris also revealed that Ashley had put no time limit on the sale, and that the prospective new owners are not UK-based.
Prospective bidders have been given until 17th October to register a firm interest in the club, which is thought to be available for £280m to £300m.
Ashley put the club up for sale in mid-September after a furious backlash from fans upset at the departure of manager Kevin Keegan.
Harris, who had acted as adviser in the sales of fellow Premier League sides Aston Villa to Randy Lerner in 2006 and Manchester City to Thaksin Shinawatra in 2007, was brought on board by Ashley almost immediately.
