IT’S CHINA TOON!
Far East group eye up £400m Newcastle bid
NEWCASTLE UNITED owner Mike Ashley is considering selling the club amid interest from Chinese investors with the asking price in excess of £400million.
Talks began last month and Ashley will listen to proposals, be that a full takeover or partial investment. There is a feeling that Ashley believes the value of the club is at a premium given their promotion to the Premier League and the fact they have a world-class manager in Rafa Benitez.
interestingly, Ashley, who bought Newcastle for £134m in 2007, said last month that the club
is in a healthy financial position and that generated could be spent on new players.
Confirming Benitez would stay as boss, ashley, who has clashed with some newcastle fans during his 10 years at the club, said: ‘i’ve confirmed to rafa and Lee Charnley (chief executive) that they can have every last penny that the club generates through promotion, player sales and other means to build for next season.’
Sportsmail revealed earlier this year that north east rivals middlesbrough were also the subject of Chinese interest.
While owner Steve Gibson rejected those advances despite meeting with potential investors, sources told us that their financial power was significant.
indeed, there are several Far east consortiums who have hired British intermediaries in an attempt to launch a takeover of a Premier League or Championship club.
Some have previously enquired about newcastle but any interest has been dismissed by ashley, who has refused to sell the club despite a number of fans’ groups calling for him to do so.
However, sources say that the Sports direct tycoon is now willing to engage in discussions and it could signal an end to his 10-year association at newcastle.
newcastle United declined to comment.