Reports Ashley Asking £480M For Newcastle United


The Arabian Business website is reporting today that Mike Ashley is seeking as much as $860 million (about £481M on today’s conversion rate of 0.56) to sell his club, Newcastle United.



Mike Ashley – asking £480M for Newcastle? – surely not


Well, all we can say, is if he manages to pull this one off, no wonder he’s a Billionaire.

But that seems a huge amount to be asking for the Newcastle United club, which he bought for only £133M  16 months ago, and has put an additional £110M into it, to pay down just some of the debt.

But that specific figure is said to be contained in documents handed to individuals representing Dubai’s ruler Sheikh Mohammed bin Rashid Al-Maktoum, earlier in the week. Well we suppose you start high and go down from there.

The documents are currently being studied, but a buy-out would surely only be made at a significantly lower price than that in the documents, is what the business web-site is suggesting, and that’s got to be accurate.

Dubai-based Zabeel Investments and Dubai Investment Group, part of Dubai Holding, are allegedly being considered to front a potential deal, so the Arabian Business web-site is now reporting.

Zabeel Investments was founded in 2006 and is a Dubai-based diversified investment company focused on commercial real estate development and management, private equity and asset management in the United Arab Emirates.

The Group only recently was part of the Dubai-led consortium which failed to tie up a deal for Liverpool Football Club in February two years ago.

However, Mohammed Ali Al Hashimi, the Zabeel Investments chairman, told Arabian Business:

“We have not had any contact,”  “I am not interested in any [English Premier League club] right now.”

Well, we suppose at the very least it appears that Ashley is making an attempt to sell the club, so that’s good, but until it’s out of his hands, Newcastle United Football Club will remain like a ship adrift in the North Sea, going nowhere in particular.

The sooner he gets a good buyer, the better it will be for both players and the fans, which are what’s important to the club right now.

Comments welcome.



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375 comments so far

  • Lost Prophet

    Sep 16, 2008 at 7:03 PM

    Comment #1

    £240 for the club + £240 for the stadium = £280 so the story goes.

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  • Massandrean

    Sep 16, 2008 at 7:03 PM

    Comment #2

    Jid

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  • Lost Prophet

    Sep 16, 2008 at 7:05 PM

    Comment #3

    sorry £480 jeez I’m not working well today!

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  • beyethegreat

    Sep 16, 2008 at 7:05 PM

    Comment #4

    gdgd

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  • Toon_Ksk

    Sep 16, 2008 at 7:08 PM

    Comment #5

    Okay, looks like the deal is dead.

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  • Nickies Butt 1000

    Sep 16, 2008 at 7:13 PM

    Comment #6

    Yeah someone looking at our club bit steep the price though just deex it down a bit plz Mr. Ashley

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  • Thump

    Sep 16, 2008 at 7:14 PM

    Comment #7

    For a second I thought it said £4.80.

    He’s off his rocker if he thinks he’s getting that money for NUFC.

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  • Nickies Butt 1000

    Sep 16, 2008 at 7:15 PM

    Comment #8

    Don’t want any fan owned or local buisseness owned club as we’ll have money for nowt. Get rid of them idiots who want that! Stupid plonkers.

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  • Nick 69

    Sep 16, 2008 at 7:15 PM

    Comment #9

    proves how much of a total bell end ashley is if he is askin for 480mil for the toon, does he think that if it looks as tho hes tried to sell and cant get a buyer that we will just accept it and move on, doubtful, i mean there are still people protesting today again. just f*ck off ashley will you, so much for not being in it to make money and lovin the club so much, prick

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  • Thump

    Sep 16, 2008 at 7:15 PM

    Comment #10

    Nicky, a BIT steep?

    Are we reading the same number here?

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  • Leeg123

    Sep 16, 2008 at 7:15 PM

    Comment #11

    toon_ksk hows the deal dead

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  • beyethegreat

    Sep 16, 2008 at 7:16 PM

    Comment #12

    why would amy one pay that amount especially for us

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  • NE1

    Sep 16, 2008 at 7:16 PM

    Comment #13

    480m?? if someone offered him 350-375 he’d snap their hands off…

    480 is the starting price

    how much is this Zabeel group worth – do they have a trillionaire on their books??

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  • beyethegreat

    Sep 16, 2008 at 7:17 PM

    Comment #14

    ne1 david craig says that in dubai they offer a price and thats it apparentley they dont haggle

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  • Leeg123

    Sep 16, 2008 at 7:17 PM

    Comment #15

    thts wot i want to no NE1

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  • Nickies Butt 1000

    Sep 16, 2008 at 7:18 PM

    Comment #16

    Personally I would sell the club 4 aboot 350million wer not worth anywhere near 480 million wat a joke

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  • ERIC CRAMMY MAG

    Sep 16, 2008 at 7:19 PM

    Comment #17

    who,s a clever boy this was his plan all along to sell the club

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  • ed_speed

    Sep 16, 2008 at 7:19 PM

    Comment #18

    blood sugar, album version, 3.18 in turned up loud, until the end of the song.

    you will forget mike ashley was ever born.

    regards,
    ed

    p.s ‘mon the lads

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  • magsie

    Sep 16, 2008 at 7:21 PM

    Comment #19

    Yeah he`s leaving coz he was forced out! My arse, if he had asked for the £240m he`d spent or even £260m with a bit profit fair enough but this is just pure greed in my opinion. Was starting to feel a bit sorry for the bloke to be honest after reading his statement but guess i was fooled again.

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  • Marty

    Sep 16, 2008 at 7:21 PM

    Comment #20

    no chance at that price

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  • Daniel Petersen

    Sep 16, 2008 at 7:22 PM

    Comment #21

    No one will pay 480m for NUFC with the state the club is in. If anything the club is probably viewed as less valuable than when Ashley purchased it.

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  • Leeg123

    Sep 16, 2008 at 7:22 PM

    Comment #22

    how much is zabeel worth any 1 no

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  • Steve_48

    Sep 16, 2008 at 7:23 PM

    Comment #23

    In my view the easiest way to fix this for EVERYONE is:

    1. Mike Ashley admit he’s made a mistake

    2. Sack Wise and his cohorts and restore all 1st team power including all transfer dealings to Manager – effectively scrap the Director of Football role – we’re not ready for that complexity yet. Wise is poison, everyone knows that.

    3. Reinstate KK – plain and simple, no shit necessary

    4. Stump up some cash in January for some serious players

    5. Continue to scout for young untaped talent then you have combination of new purchases of established talent and younger talent to come through the academy stages – KK was wrong to get rid of this and he knows that now.

    This way MA does not lose face, he keeps the club, and give the fans what they want

    We will not attract any new manager while the club is “up for sale” – no one in their right mind would take it on during this period of instability, but MA could solve everything in 48 hours by making 3/4 simple decisions

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  • rog toon fan

    Sep 16, 2008 at 7:25 PM

    Comment #24

    where does this guy get his figures from, what a tit!!!!!!. cmon ashley , cut your losses and sell the club

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  • Tom_Toon

    Sep 16, 2008 at 7:27 PM

    Comment #25

    I know you are meant to start high and negotiate down but he is asking £200mil more than we are worth.

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  • magsie

    Sep 16, 2008 at 7:28 PM

    Comment #26

    Agree Steve but wont happen i`m affraid.

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  • magsie

    Sep 16, 2008 at 7:31 PM

    Comment #27

    No doubt you`ll get toonpipes nd co on later saying they totally agree with MA`s valuation and he`s doing the honourable thing by getting as much as he can due to the terrible way he has been treated by toon fans.

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  • Nick 69

    Sep 16, 2008 at 7:31 PM

    Comment #28

    steve-48, he new that was thew way to fix it from day one when keegan walked out and told him what he wanted, several meetings later he is not willing to do it, it would have been the easy way to fix it, he’s either dumb or he just wont do it, and its too late now anyway

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  • hadrian

    Sep 16, 2008 at 7:33 PM

    Comment #29

    same price he offered us to the american chaps in the summer for .
    this has always been his main aim, his sports direct company is still taking a beating and has some outragous debt on its hands atm.
    yet mike tells the world its the threat for his saftey and the geordies unrealistic ambition , is the reason he is selling , pack of lies .

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  • Nick 69

    Sep 16, 2008 at 7:33 PM

    Comment #30

    he is askin double what he has put into the club, which is absolutely ridiculous considering the state HE has got the club in

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  • graemer

    Sep 16, 2008 at 7:35 PM

    Comment #31

    If Ashley didnt want to make money from the club (weep weep) and just do it out of his love of football (weep weep) – why has he put a £400 million plus price tag on it.

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  • reillers

    Sep 16, 2008 at 7:36 PM

    Comment #32

    Are you taking the piss, I mean really.
    That’s a wee bit ridiculous, he’s asking just a wee bit too much for the clubs. So either
    a)The man’s a genius, and know wonder he’s a billionaire.
    or
    b)He wants to be seen as putting the club up, so the hastle from the media, fans..etc stops, but putting it up at such an outragreous price, with know intention of actually selliing the club.

    I don’t know which is more frightning.

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  • JEFF

    Sep 16, 2008 at 7:36 PM

    Comment #33

    ASHLEY SHOULD BE A COMEDIAN…….HE WHINGES ON ABOUT HOW MUCH MONEY HE HAS PUT INTO OUR CLUB…….AND IT TURNS OUT HE IS LOOKING TO DOUBLE HIS MONEY !!!! POOR SOD, HE MUST FEEL SO USED BY US. WISH HE WUD JUST RE-INSTATE KK , LEAVE CLUB UP FOR SALE AND PISS OFF BACK TO LONDON WITH HIS BACKSTABBING CRONIES.

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  • Nickies Butt 1000

    Sep 16, 2008 at 7:36 PM

    Comment #34

    erm the guy who owns it is worth $18billion personal wealth dunno bout the consortiums 2gefa though probs allloottt allllloooottt more the person who owns them is called Sheikh Mohammed

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  • Nickies Butt 1000

    Sep 16, 2008 at 7:37 PM

    Comment #35

    well anyways if they bought us we wud be worth a tiny bit more than the mancs as they r bigger than the abu dahbi group and main rivals

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  • Gordon

    Sep 16, 2008 at 7:38 PM

    Comment #36

    Don’t forget Ashley said he’s not in it for the money, so no doubt he’ll sell for around £245-£260 million.

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  • Martin

    Sep 16, 2008 at 7:41 PM

    Comment #37

    Here man, a lot of you need to give your head a serious shake!

    1) It’s a reported figure – this doesn’t mean it’s a serious figure…Did anyone see the interview with the fella who published this figure he kept using red-top get out clauses like ‘to my knowledge’ or ‘as far as I’m aware’ …

    2) IF it actually is the real figure then it’s obviously like selling your house or car – always add a little bit extra on so you can come down to your own personal price (and the buyer thinks they’ve got a good’n)

    3) Man City were bought for 210m…In the global marketing world we have more potential – we’re already building bridges in the far east (Shephard started it) with McMahon and co. AND we’re a 1 city club with a bigger fan base – so we’ve got more potential to grow!

    4) Man City were bought for 210m but they don’t even own their stadium…We own one of the biggest, most impressive and most popular stadiums in Britain! London 2012 (football isn’t always played in the host city) and 2016 will mean SJP will be a prime candidate to host international matches – thus increasing the team’s global appeal further!

    5) Shephard was well up for using the land around St James’ to create casino’s and hotels – If a company were to buy us, they’d buy the land (or at least that’s what I understand) so they could use it to develop the idea!

    I agree – 480m is a huuuuuuuuuuuuge amount of money but chill out man…SSN said that this company are owned (along with pretty much all of Dubai) by the Shiek (not sure of spelling) so therefore the richest man in the world! If Ashley messes this company around he’s messing the Shiek around and therefore would lose any opportunity to sell to a dubai based company – if SSN know this then Ashley and his financial advisors will know this!

    Stop getting so worked up! This is good news, so stop trying to make it negative!

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  • SAMTHECAT

    Sep 16, 2008 at 7:42 PM

    Comment #38

    Still waiting for the pro-Ashley lot to arrive and say what a wonderful bloke he is and its all the fans fault he is asking so much money.

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  • bowburnmag

    Sep 16, 2008 at 7:45 PM

    Comment #39

    I’m still waiting for the punch line.

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  • SAMTHECAT

    Sep 16, 2008 at 7:46 PM

    Comment #40

    Clearly he needs the money to prop up Sports World.

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