Nigerians Table Newcastle Takeover
The Nigerian consortium interested in a takeover of Newcastle United has presented its bid to the Premier League club.
The group is one of several thought to be interested, but is the first to announce it has formally tabled an offer.
The man fronting the bid, UK-based businessman Chris Nathaniel, refused to confirm the size of the offer although it is not thought to match owner Mike Ashley’s initial valuation of £481m.
Said Nathaniel: ‘We can’t at this stage, that’s confidential between ourselves and Newcastle, but a bid was put in on Friday evening. There’s been no timeline given by Newcastle but we hope it will be sometime soon.’
Reports have suggested the Nigerian group had raised £350m and was looking to increase that figure.
Ashley put the club up for sale in the wake of the sudden departure of former manager Kevin Keegan, but has insisted he will hold out for the right price.
The identities of the people behind the deal remain unclear, and Nathaniel said they wanted to remain anonymous until a bid is accepted.
