Nigerian consortium to bid for Newcastle United

September 23rd, 2008 - 8:01 pm ICT by IANS  

London, Sep 23 (IANS) A Nigerian consortium has emerged as the frontrunner to bid for English premier league club Newcastle United.Newcastle owner Mike Ashley, who bought the club 16 months back for 134.4 million pounds, is trying to find a buyer for the club but so far been unsuccessful in it. But now a a Nigerian company claims it has 350 million pounds ($650 million) and will bid to takeover the club.

“I have been working hard to get wealthy and football-loving Nigerian entrepreneurs to buy the club since Mike Ashley indicated his willingness to sell to the person, people or entrepreneurs who can meet the 400 million pounds ($742 million) selling price of the club,” Chris Nathaniel, chief executive of NVA Management, which is handling the deal, was quoted as saying by The Guardian.

Nathaniel said: “I am happy to tell you that well-meaning Nigerians have responded and the consortium of Nigerian entrepreneurs has so far contributed 350 million pounds ($650 million) to buy the club. Ashley has stood his ground that he won’t sell the club until the money is raised to the asking price of 400 million pounds ($742 million)….”

“We need to raise another 50 million pounds ($93 million) or 100 million pounds ($185 million) to shut the door behind the top Arab companies who are also interested in the club. The Arab companies have also indicated interest and made offers - but they haven’t met the asking price,” he said.

Dubai International Capital (DIC), which was linked with bids for Liverpool, and Indian billionaire Anil Ambani were also linked with takeover bids of Newcastle.

Tags: , , , , , , , , ,

Posted in World |