Two ‘acceptable’ Bids In For Newcastle

Newcastle United managing director Derek Llambias has claimed that at least two acceptable offers have been received for the club, each valuing the team at over £100m.

Owner Mike Ashley, who spent £134.4m to assume control in May 2007, announced in June that he would entertain bids of £100m for the Championship side.
 
Amongst those to have previously enquired are Singapore-based Profitable Group and ex-chairman Freddie Shepherd.

A Malaysian consortium are also believed to have entered the running and reportedly inspected St James’ Park and the club’s training ground last week.

All bidders have to sign a confidentiality agreement before gaining access to the club’s accounts.

Newcastle are keen that a new hierarchy is in place as soon as possible after hopes that a deal would be done by the end of June failed to materialise.

The players reported back for pre-season training on the 1 July, although the manager’s position remains vacant after Alan Shearer’s short-term contract expired.

Any deal of around £100m would represent a significant loss for billionaire Ashley who is estimated to have put around £244m into the club during his time in charge.

When he initially put Newcastle up for sale last September, he hoped to get about £300m. But relegation from the Premier League saw the asking price slashed.