Nigerian Consortium Post £200M Bond For Newcastle


We reported on Sunday that a Nigerian consortium of media moguls and oil barons had said they had already amassed £350M to buy Newcastle United, and that story is the prevalent one over the last couple of days in the English media.

Kevin Keegan – Nigerian Consortium would reinstate him as manager

The source of the story is that the Chief Executive Officer of the NVA Management, Chris Nathaniel told KickOffNigeria.com that the club had raised £350M, but were trying to meet Ashley’s asking price of £400M.

Mike has often said he didn’t buy Newcastle to make money, but that’s rather hard to believe when £400M gives Ashley a £155M profit and 63% on the deal in just 16 months.  But maybe that’s why he’s a Billionaire. Mike paid around £135M for the club in May of last year and pumped in another £110M to pay down the debt.

It’s also now being reported that if this group is successful in their bid to buy the club, they will bring back Kevin Keegan as manager, and presumably Terry McDermott and Adam Sadler will also get their jobs back.

The eight-strong group are reportedly now keen to hold talks with the Newcastle owner Mike Ashley, according to The Sun. With Seymour Pierce Bank given the job of selling the club last night, we would expect Seymour Chairman Keith Harris to meet with the group shortly – if this story has any truth to it.

The new news The Sun is reporting is the Nigerian consortium has now lodged a bond of £200M with a respected lawyer, so Newcastle United can see evidence of their serious intent to buy. Two months ago, they made a visit to the UK to watch the team play at Manchester United, and it is reported they have been working on a buyout plan ever since.

Chris Nathaniel has been hired as a consultant and insists the consortium are serious players, and he made the lengthy statement to KickOffNigeria.com on Sunday.

Nathaniel said today:

“These people are not messing about. They are genuine, highly regarded businessmen in Nigeria who want to make a deal happen.”

“They will bring back Kevin Keegan immediately as manager and there will be £75M made available to buy players.”

“The interest in the Premier League in Nigeria and the whole of Africa is huge and buying an English club is seen as the next big step for a football-mad country”

“We have made contact with people at Newcastle and let our interest be known but our group has not yet spoken to Mike Ashley himself.”

“The ball is in Ashley’s court. The money is there and if he is determined to sell, these men will be round the table with him as soon as he gives the word.”

“They realize how important Keegan’s presence is to the fans and they will be delighted to bring him back.”

Those are all good words, and 75M will convince Kevin they are serious about making Newcastle successful again. The words above are framed to get Newcastle fans on their side, but we have to remember this is a report in The Sun, which hardly has good credibility on many things to do with football news.

However the statement is at least consistent with what Nathanial said on Sunday, and if indeed this is true that’s got to be good news for the very long suffering Newcastle fans.

Of course the big unknown here, is who the eight businessmen are, and how exactly did they amass their fortunes in Nigeria, which is a country hardly devoid of financial scandals and turmoil.

But as loyal Newcastle fans, we really do hope they are legitimate, and also hope this story is true, and certainly their wish to bring back Kevin will ensure the side will very quickly regain lost momentum this season.

And of course the playing staff will be absolutely delighted.

Comments always welcome, but please keep all comments decent – many thanks.



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107 comments so far

  • Bungles Pocket

    Sep 23, 2008 at 11:15 AM

    Comment #1

    Who is the money man behind all this – and what is he worth? Any ideas lads?

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  • samthecat

    Sep 23, 2008 at 11:20 AM

    Comment #2

    Im not sure how a consortium of 8 can run a football club-who makes the decisions-what happens if 4 want to sack the Manager and 4 dont.

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  • GEORDIE

    Sep 23, 2008 at 11:21 AM

    Comment #3

    i hope these people have a massive wedge

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  • Geordie Jayne

    Sep 23, 2008 at 11:21 AM

    Comment #4

    It’s a consortium

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  • Geordie Jayne

    Sep 23, 2008 at 11:22 AM

    Comment #5

    Sam we were basically owned by a consortium, with Sir John, Fat Fred and other, so its workable

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  • Ganiyu

    Sep 23, 2008 at 11:26 AM

    Comment #6

    Consortium name-Nufc nigeria

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  • GEORDIE

    Sep 23, 2008 at 11:28 AM

    Comment #7

    i wish there was more info on these blokes,then we will know what we are getting

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  • Punk Skunk

    Sep 23, 2008 at 11:32 AM

    Comment #8

    Barca have 100,000+ people runnin’ there club!..

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  • Ashley Out

    Sep 23, 2008 at 11:32 AM

    Comment #9

    Its a consortium of 8 wealthy Nigerians, it appears they’ve appointed Chris Nathaniel to front the bid through his Company NVA entertainment, by the way Chris Nathaniel is Oba’s agent.

    Check out his site –

    http://www.nvamanagement.com/

    The 8 members of the consortium of made up of media moguls and oil barons.

    Make no mistake this is happening

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  • Ganiyu

    Sep 23, 2008 at 11:33 AM

    Comment #10

    75million.kk pls spend wisely.
    Out going Nufc players-ameobi,duff,cacapa,butt.incoming Yakubu if owen leaves cos we aint giving him 100k per week

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  • listie

    Sep 23, 2008 at 11:35 AM

    Comment #11

    I am warming to this, if it’s true of course, the earning potential for the club would be massive, as in Nigeria they love football, and all the big have invested over there.

    Now I know this might go against what most want, but I would prefer not to have KK back, as the old saying goes, never go back always look forward.

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  • 51times

    Sep 23, 2008 at 11:36 AM

    Comment #12

    Something stinks about all of this.

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  • Ganiyu

    Sep 23, 2008 at 11:36 AM

    Comment #13

    Make no mistake oil lads are one of da richest in ma country

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  • GEORDIE

    Sep 23, 2008 at 11:36 AM

    Comment #14

    ashley out,it sounds good,theres alot of oil out there so they will have major money.

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  • sirjasontoon

    Sep 23, 2008 at 11:37 AM

    Comment #15

    Do you think they got he chap off phonejacker to ring ashley…”I would like to put £300000000000000000 nigerian dolla into your account mr ashley……”

    Will we be richer than man city?

    Can’t wait to see the back of Cashley.

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  • Ashley Out

    Sep 23, 2008 at 11:37 AM

    Comment #16

    It’s happening and I suspect Chris Nathaniel has spoken to Oba re KK and advised the consortium to reinstate KK as soon as the deals finalised therefore getting the team and fans back on track and bringing the feel good factor back which we desperately need

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  • Punk Skunk

    Sep 23, 2008 at 11:40 AM

    Comment #17

    I guess this’ll make us the 1st african owned club, is that true?..

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  • Punk Skunk

    Sep 23, 2008 at 11:42 AM

    Comment #18

    This page has slowed the refresh rate right down…Dull!..

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  • Bill F

    Sep 23, 2008 at 11:43 AM

    Comment #19

    They must be idiots to be paying so much over the top for the club. That would be my main reservation.

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  • Punk Skunk

    Sep 23, 2008 at 11:44 AM

    Comment #20

    So, cockney, percieved, mafia…Or Nigerian, real mafia?..
    …Interestin’ times!..As the chinese put it!..

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  • Punk Skunk

    Sep 23, 2008 at 11:45 AM

    Comment #21

    Prices can go up aswell as down!..

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  • Punk Skunk

    Sep 23, 2008 at 11:45 AM

    Comment #22

    Bill F,
    you’ve changed y’name back again!..

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  • Toon Chicken

    Sep 23, 2008 at 11:48 AM

    Comment #23

    I’ve got about 8 tabs on my safari browser open at the minute which means that this particular one has been shortened to “Nigerian Con”.

    Haha – think it’s trying to tell us something? 🙂

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  • Ericles

    Sep 23, 2008 at 11:50 AM

    Comment #24

    True. There are big unknowns about these Nigerian businessmen. To our cost we have found out about the big unknowns about Mike Askley and Co! If they are legitimate then Ok. I just hope that we do not end up with an Abramovich style regime where KK can spend as much as he likes as long as it is on players they want. Will Shola stay on as director of football?

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  • Teazy

    Sep 23, 2008 at 11:50 AM

    Comment #25

    Don’t underestimate Nigerians. They are very astute business folk who are more than capable of mixing it with the best.
    I have had the great pleasure to work with Nigerians for the last 10 years, also visiting Nigeria. They are all football mad and many would love it if a team like NUFC were owned by Nigerians.
    I am trying not to get excited about this, but if it happens I for one would be delighted. Super Magpies owned by Super Eagles, lets get this on.

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  • Punk Skunk

    Sep 23, 2008 at 11:50 AM

    Comment #26

    Ouch!..
    …Prophetic?..

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  • selly no skill

    Sep 23, 2008 at 11:51 AM

    Comment #27

    hope this is true.got to the point now where i dont care who buys it.just want to get back to watching football.interesting point to add.what will the fans think of king kev if we get new owners and he rejects his job back.

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  • Ashley Out

    Sep 23, 2008 at 11:54 AM

    Comment #28

    This is happening, price has been agreed and that is the reason for Ashley in going public and announcing that Seymour Pierce are handling the sale, as for how long it will take lets hope soon, re Africans running the club if oil barons are part of the consortium there will be major investment, they will want the club to be as high profile as possible within a short period of time, exciting times ahead and we should be welcoming these huys with open arms havinggot rid of the Cockney Mafia

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  • mark stafford

    Sep 23, 2008 at 11:54 AM

    Comment #29

    The return of the messiah – that would make me smile!

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  • Punk Skunk

    Sep 23, 2008 at 11:54 AM

    Comment #30

    Teazy,
    i know a lot of Nigerians also & i’d say y’right basically!..
    …But the caveat bein’, there’s good & bad everywhere!..

    …But as they say: Money talks, bullshit walks!..

    …It should defo set the cat amongst the pidgeons like?..

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  • Russell

    Sep 23, 2008 at 11:57 AM

    Comment #31

    Does anyone think KK would come back even if he was given 75 million?

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  • Punk Skunk

    Sep 23, 2008 at 11:57 AM

    Comment #32

    Wouldn’t be ower chuffed with KK back like, blotted, copy, & book spring to mind, but hey, i’m just a lowly fan!..
    …Ho Hum!..

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  • steve

    Sep 23, 2008 at 11:59 AM

    Comment #33

    LOL – love that phonejacker comment

    hello mr ashley this eez your bank – you have won 25 nigerian dollars – I would like you tell me your bank account details please to transfer your genuine winnings of 25 nigerian dollar

    fantastic

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  • Geordie Jayne

    Sep 23, 2008 at 12:00 PM

    Comment #34

    Mark I second That lol

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  • Rasko a.k.a Hadji

    Sep 23, 2008 at 12:01 PM

    Comment #35

    Manager-George Finidi
    Asst Manager-Sunday Oliseh
    Director-Babangida
    Reserves coach-Jonathan Akpoborie
    Youth Coach-Amunike
    Stadium Name-Oba Oba Park

    AHHAHAHAHAHAHAHAHA 🙂

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  • SouthLincsToon

    Sep 23, 2008 at 12:02 PM

    Comment #36

    Nigerian owners + African players = shedloads of merchandise to sell in Africa

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  • Ashton

    Sep 23, 2008 at 12:04 PM

    Comment #37

    F*ck KK he is a quitter and he lives in the past hopefully these guy’s are not stupid enough to give him 75 m for transfers because he know’s shit all about modern plyers

    we should sign a proper manager like Rijkaard or Terim imo

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  • red n white army

    Sep 23, 2008 at 12:08 PM

    Comment #38

    pmsl read part of the statement :The source of the story is that the Chief Executive Officer of the NVA Management, Chris Nathaniel told KickOffNigeria.com that the club had raised £350M, but were trying to meet Ashley’s asking price of £400M.

    yes were trying to raise the rest of the money. so if they are rich oil magnates why dont they just stump it uo front.
    £75m for players lol of whose money. answer out of your bank accounts via your details.

    brining back kk and terry mac. gonna have to stop here im in fits and pӣ%%$^g my self here.

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  • Obafemi Martins

    Sep 23, 2008 at 12:09 PM

    Comment #39

    Fulham are owned by Mohamed Al Fayed – he’s Egyptian I believe… so no, there has been an African owner of a Premier League team for a long time, albeit based in London.
    The Nigerian bid, if successful, would make them the first African-based consortium to own a PL team – as I can’t see them all moving to Newcastle or even Darras Hall!

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  • Newcastlefan89

    Sep 23, 2008 at 12:09 PM

    Comment #40

    I sure hope all this hasn’t come from a spam e-mail saying Prince Idontexist has recently died and left a fortune which is up for grabs and that they would love to give it to Newcastle United… that would be quite upsetting, but not that surprising to be honest!

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