Mike Ashley is said to be traveling to Dubai to seek a buyer for Newcastle United.
Mike Ashley – in Dubai today seeking buyers for club
But the concern on Tyneside is the longer this goes on the worse shape the team will be in, after Saturday’s disastrous display against Hull City. It’s very unlikely a new manager will be appointed before the new owners take over, but just how long a new owner will take the find is the real question.
That’s especially true when owner Mike Ashley wants some return on his investment.
The Dubai family’s investment body, Dubai International Capital (DIC), yesterday made it clear they are not planning a bid for any football club, including Liverpool, who they have been in negotiations with for over 16 months.
The statement read:
“DIC can confirm it is not planning a fresh bid for Liverpool FC or any other football club.”
“Nor is DIC or any other Dubai-based party aware of any consortium or vehicle involved in a bid.”
There is news today that Ashley has contacted Amanda Staveley, the investment adviser who runs PCP Capital Partners and has the best financial contacts in the Middle East.
Staveley helped Abu Dhabi United in their takeover of Manchester City recently, and is also working with Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum on his possible personal venture to buy Liverpool.
We just have to hope that a good buyer can be found for the club, because Mike has already said it will not be a fire sale, and if he cannot find a buyer he will continue owning Newcastle United.
This needs to be sorted out as soon as possible, and at least it looks like Ashley had put this as a priority on his agenda.
It’s hard to see Newcastle recovering from the mess we are in, without a new buyer coming in quickly.