Newcastle United United were saying nothing today about multiple reports that Mike Ashley is ready to sell the club for a massive Â£420M, to an American Consortium, based out of New York.
Mike Ashley – NY consortium turned off by price quoted for Newcastle
Mike Ashley is reported to be telling the New York-based private equity investors, Inter-Media Partners, through a third party, that he will be willing to sell Newcastle, but only if he can almost double his investment made on the club.
Since Mike has put Â£100M into the club after the initial price of around Â£130M, that would be around Â£460M, so the quoted price of Â£420M is close to that figure.
The NY firm are not interested if that is the price.
But this deal and story looks credible, and we believe this story could have a lot of truth in it.Â Â Mike cannot stop approaches being made for the club, especially when the Premier League is shown throughout the world on TV these days.
But the club has had two bad seasons in a row, and we’ve ended up with two of the worst points totals ever, in our Premier League history.
So how much would Newcastle be if we were to break into the top 4, or even be the 5th best team in England?
The answer is much much more than the price quoted above, and we think that is Ashley’s goal.
Of course he may sell Newcastle in the future, and if we can be successful again under Kevin Keegan, Mike will easily more than double his investment in Newcastle United, and we’re almost certain that’s what Mike wants to do, and it’s necessarily a long term plan.
Don’t forget it’s exciting building up a business, especially in the form of a football club, and even more so when it’s Newcastle United.
Of course there has been almost constant speculation that Ashley was willing to sell Newcastle at the right price, since he bought the club about a year ago, but this report seems to carry much more credence than earlier reports.
As far as we know, the NY based US Consortium has been put off by the high price quoted.