Nigerian Consortium Place Bid For Newcastle United


The Nigerian consortium hoping to buy Newcastle United has told the BBC that it has now officially presented its bid to the club, and it was placed late Friday evening.

The BBC is reporting that the man fronting the Nigerian bid, UK-based businessman Chris Nathaniel, has however refused to confirm the size of the bid.

When asked the size of the bid he told the BBC:

“We can’t at this stage, that’s confidential between ourselves and Newcastle, but a bid was put in on Friday evening,”

“There’s been no time-line given by Newcastle but we hope it will be sometime soon.”

Previous reports suggested the Nigerian group had raised £350M and was looking to even increase that figure. We were half expecting an announcement from them on Friday, so the fact they put in their bid on Friday evening is consistent with what they said previously.

So this consortium looks like it’s for real. Nathaniel told the BBC’s African sports program Fast Track that the Nigerian group would not get involved in a bidding war.

“What they don’t want to do is spend a load of money to buy the club and have no money to buy players and to work on what is a quite a troubled infrastructure,”

The actual identities of the people behind the deal remain a closely guarded secret, and Nathaniel said they wanted to remain anonymous until their bid is accepted. That’s not uncommon in bids like this.

We expect a few more bids to be launched for the club this week, and we don’t know if the bidders have to meet Ashley’s price to officially bid, and that price may well be £350M.

We think there may be a few surprises this week.

We don’t have anything against the Nigerian Consortium, as long as we don’t have all players from the Nigerian National side, but there again we don’t know who they are, or what their intentions are.

They do seem to want to bring back Keegan and give him some spending money, so that wouldn’t be bad. Perhaps that’s also how the news got out about Newcastle wanting Celtic’s Aiden McGeady – they may have already talked to Keegan about who he wants in January.

We hope Ashley isn’t greedy and sparks a bidding war, so the winners will have no money left to invest in players – that would be the last straw.

We don’t think Mike will do that.

Comments welcome.



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122 comments so far

  • The Sloper

    Sep 29, 2008 at 2:50 PM

    Comment #1

    I’m personally beyond caring where money comes from, as it’s tough to become mega-rich while being totally “ethical” by everybody’s standards, but Nigerian cash does make me worry.Will be interesting to see whether this group have money on a Randy Lerner at Villa level (£600million), a Man City level (as in earn Lerner’s worth in interest alone every 42 days) or somewhere in between!Interesting times, and they are worrying for any lover of traditional, real football, no matter what our allegiances.

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  • Martin

    Sep 29, 2008 at 2:50 PM

    Comment #2

    This scares me! Yes I want MA out but this whole thing reeks.

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  • Bosamuelson

    Sep 29, 2008 at 2:51 PM

    Comment #3

    First

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  • HAMMY14

    Sep 29, 2008 at 2:51 PM

    Comment #4

    All good news lets get this done and dusted ASAP

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  • Paul

    Sep 29, 2008 at 2:54 PM

    Comment #5

    A football club like Newcastle United shouldn’t be sold to anonymous bidders. It is disrespectful and potentially catastrophic.

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  • Ganiyu

    Sep 29, 2008 at 2:55 PM

    Comment #6

    Ashley should accept something asap and leave.

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  • Bosamuelson

    Sep 29, 2008 at 2:58 PM

    Comment #7

    Doh third,

    Coruption is something that is shouted a lot out of Nigeria and until the names are released I am not getting excited as the corruption basically means the people that need the money dont get it.

    However, I spent a lot of time in South Africa and was heavily involved in setting up a football academy linked to an orphanage. In turn this was linked with and still is as far as I know, with Man Utd.

    I also know the work that I had done and others dramatically increased the lifes of a lot of people. Everybody knows that Nigeria is a massive footballing country in Africa and anything that may improve the lives of people and if there is any stink of corruption then maybe this is one way of setting up academies, improving lifes and supplying Newcastle with the next Nigerian star.

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  • HAMMY14

    Sep 29, 2008 at 2:59 PM

    Comment #8

    If there was anything dodegey about these lads am sure it wud out in the open now. Dont worry lads its all good news.

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  • Bosamuelson

    Sep 29, 2008 at 3:00 PM

    Comment #9

    Paul why is it disrespectful, that is rubbish at the end of the day we as fans have nothing to do with it although we proably have more to do with it than any other set of fans. Look at the current situation for example

    Above post is optimistic!! But you never know

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  • Paul

    Sep 29, 2008 at 3:02 PM

    Comment #10

    Hammy, nobody knows who they are.

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  • The Sloper

    Sep 29, 2008 at 3:04 PM

    Comment #11

    The odds are this bid will flush out the serious bidders. Look at Nathaniel’s words – the group don’t want to waste all of their cash on a bid, which suggests they are not all that wealthy.

    I personally hate the thought of super-rich owners, but without them not much will change. Assuming the bid is of around £350million and they don’t want a bidding war for financial reasons, it may be safe to assume they only have around £500million in total to scramble around with. In the modern game (sadly, and no matter how much it pains me to say so), that’s not enough to buy and develop a club and team.

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  • Bosamuelson

    Sep 29, 2008 at 3:05 PM

    Comment #12

    Paul your right nobody does but I think the media will dig and dig and dig to find out everything there is possible to find out before and if they will find nothing then it will continue after the takeover has happened if it does until something is found out.

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  • Jokin ear

    Sep 29, 2008 at 3:06 PM

    Comment #13

    All directors have to vetted by the authorities before they can buy the club. Can’t be any worse than fat boy tho…. well we hope not

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  • cause I got the girth

    Sep 29, 2008 at 3:10 PM

    Comment #14

    ever heard of be careful what you wish for! An air of caution springs to mind! But im sure who ever these people are, and of course if this information is true, Ashley and his legal dudes will be checking them over, he’s daft, but not stupid!

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  • PDiddy

    Sep 29, 2008 at 3:12 PM

    Comment #15

    it’s Dr Araham Oshaka and he got his money when one of the directors of a top US oil company suddenly died in a plane crash. He had no family so his estate was unclaimed and his attorney Dr Oshaka was left with his vast fortune. You too could be an owner of NUFC. please respond with your banking info and wiring instructions to dr_oshaka@yahoo.com

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  • Zuton The Great

    Sep 29, 2008 at 3:12 PM

    Comment #16

    Just to reiterate what what I said earlier and that my just application is noted, I am repeating my proclamation.

    Hail Geordie Earthlings, I have just returned from the Inter Galactic soccer cup. And am sad to see the sorry state of affairs created by the Great Blob who owns your illustrious team.
    To this end I have decided to buy your club for 5 hundred million interstellar plexions. Once I have control I intend to import some the the finest intergalactic soccer stars at vast cost.
    Including Girven the multi armed goalkeeper and Taylbong an 8 foot biped with two heads. The big purchase will be Amboeni the invisible goal scorer, oh sorry apparently you already have him. I might have to settle for a Mr Messi, although I thought he was a cartoon character.
    I will make my offer in writing very soon once I have sorted out the exchange rates and once one of you kind Geordies are able to furnish bank details through which I can conduct my business. Obviously you will receive a large stipend for your assistance. Although I may need a small administration fee to set up the transfer.
    Yours celestially
    Zuton The Great

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  • Lost prophet

    Sep 29, 2008 at 3:20 PM

    Comment #17

    Be afraid! To be owned by some nameless men from one of the most corrupt countries in the world who may or may not have enough cash to take us forward – how can you think this is OK?

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  • derekm

    Sep 29, 2008 at 3:23 PM

    Comment #18

    Just why in hells name should ashley accept anything less than what HE wants?
    He owes no one from the toon any favours and will surely sell to the highest bidder and for the most profit for what he paid. I really can’t accept the notion that he feels anything other than extreme anger at being portrayed as a fool who cocked things up. He is a businessman whose business expertise has been damaged – he probably could’nt give a toss about who the new owners are or what they bring to what is already a very rocky table. Watch out for ambani – he is the only individual of means who has ever expressed interest in us and declared after keegan left that there was too much going wrong to be interested anymore. Now anyone buying the club is buying it with NO DEBTS AND IT OWNS ITS OWN STADIUM – not many clubs around can offer that, and anything they have above the buying cost can go straight on players.

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  • BenjiToon

    Sep 29, 2008 at 3:23 PM

    Comment #19

    Well, all this means is that one of the bids is real. Doesnt mean it’s been accepted or that it will lead to our new owners. The Nigerian bid has bene very public hasn’t it? So this is no suprise. Others will be quieter but may well have already made their offers.

    Either way, this just speeds things up. If other buyers are serious (e.g. the South Africans) then they need to get a wriggle on or they might miss out.

    Reckon we’ll see movement before Friday from others. Makes the Kinnear appointment look even shorter doesn’t?

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  • little willie

    Sep 29, 2008 at 3:24 PM

    Comment #20

    They won’t remain nameless if they do take over.

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  • faustino

    Sep 29, 2008 at 3:24 PM

    Comment #21

    419

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  • BenjiToon

    Sep 29, 2008 at 3:26 PM

    Comment #22

    Derekm – that’s not quite true. There are still some player debts, long term deals that still have money owing and can’t be cleared in one go. (Luque for example.) But yes, after buying anyone should have cash to spend as the other debts are mostly gone.

    Of course they also need to meet running costs, which means getting the unsold season tickets snapped up to get revenue to match players wages.

    Also, there’s the small matter of paying off Mr Wise, Lambias and Jimenez…assuming they do the right thing and sack ’em. All on £million contracts though, so it’ll be a bit of wonga to shit em.

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  • BenjiToon

    Sep 29, 2008 at 3:27 PM

    Comment #23

    Little Will – would be nice to know who they were in advance eh? We had something similar wioth Ashley when he came. Very few people knew much about him, he kept his bid very quiet until the last minute.

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  • 51times

    Sep 29, 2008 at 3:29 PM

    Comment #24

    Zuton the Great – Girven is overrated, please don’t waste your money on him.

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  • dubsea

    Sep 29, 2008 at 3:29 PM

    Comment #25

    I hope these guys are legit….although Chris Nathaniel is public figure so I don’t think he would be the frontman of a 300 million pound scam…

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  • BenjiToon

    Sep 29, 2008 at 3:31 PM

    Comment #26

    More interesting quotes from Mr Nathaniel:

    “We have put a bid in on Friday evening. We are now looking at things around improving the football club in anticipation of hearing back from Newcastle positively. Therefore, the consortium have asked to look at areas of how we can improve the club while Newcastle are considering the bid.”

    That sounds positive, if its true but city sources have suggested a degree of scepticism over the Nigerian consortium, particularly as they will remain anonymous until a bid is accepted. (Nicked that off Sporting Life).

    Nathaniel replied: “As far as I know we are the only official bid to have been put in. I’m sure they will wait for other bids and make a decision on which one to accept. One thing is for sure, we will not get involved in a bidding war. We’ve earmarked money for transfers, money to buy the club and money to deal with the various deep-rooted issues behind the club like the academy. A budget has been put in place and my instructions are that they do not want to go over that budget.”

    Again, sounds sensible. Again though, we just have to wait and see. Come on other bidders state your intentions!

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  • GM

    Sep 29, 2008 at 3:31 PM

    Comment #27

    Once a bid has been accepted, dont the Prem league have to ok it? just to make sure there are no conflicts of interest? plus this seymore price company doing the sale will do thorough checks on all potential buyers as it is there professional rep on the line, hope something gets sorted this week

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  • HAMMY14

    Sep 29, 2008 at 3:32 PM

    Comment #28

    True Paul i can see why people may worry until they are named and what backgrounds they have but am confident that everything will be legal and above bored but it is the case of wait and see

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  • Paul

    Sep 29, 2008 at 3:32 PM

    Comment #29

    Dr Mike Adenuga Jnr, Globacom.

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  • DH7 MAGS

    Sep 29, 2008 at 3:33 PM

    Comment #30

    before mike ashley bought the club, did anyone no who he was, or what he actually owned. the answer was no. we did not no what he owned, what money he had etc. if this is true, this may spark something off. if there is a concreate bid on the table, other interested parties may now come in with bids. lets hope so and lets hope they have got some big money as it is what it is going to need to get us anywhere.

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  • Micky Toon

    Sep 29, 2008 at 3:33 PM

    Comment #31

    You know how I feel about KK coming back again! But think for a moment and wonder if it would actually be possible.
    If KK has supposidly not spoken out at what was going on between him and the rest of them and apparently it is only because he is legally bound not to do so, according to some on here, and he is currently looking at legal action against MA, then would he be able to come back?
    I know I would be very wary of employing someone who sues their last employer because of a disagreement.
    I also don’t want to be ran by someone who just gives in and delivers what the fans ask for and not what is actually best for the club. MA did this and look where it got us.

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  • BenjiToon

    Sep 29, 2008 at 3:34 PM

    Comment #32

    GM – yes and no. Seymour Pierce will look at it and do checks on whether the money is actually there. So they will know who the people behind it are, and will need to be certain they have the asking price (or agreed price) in liquid cash. Imagine Nathaniel wouldn’t be so sure of himself if it wasn’t there like.

    As for the Prem. I think they and the FA both have a chance to ratify to sale but neither can actually stop it, although there is a rule to freeze or penalise club activity in the league if they think the new owners are not legit – as in financially duff or totally corrupt. That said Shiniwatra didn’t have any problems with City did he?

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  • Ben-Toon

    Sep 29, 2008 at 3:35 PM

    Comment #33

    Lets just hope they are professional and have everyone’s interests at heart, IE: to run the club properly with good communication, a good infrastructure, a sensible transfer budget, a good scouting youth system and some success for everyone to shout about.

    Lets hope they are in this for the right reasons, yes its a business theses days and they will be wanting to make money but they have to run the club sensibly.

    We have to be realistic here and be very careful what we wish for.

    In the mean time lets gets behind Jo and give everyone the support they need to climb up the table

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  • BenjiToon

    Sep 29, 2008 at 3:36 PM

    Comment #34

    Ben-Toon – my we have similar names don’t we?

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  • Micky Toon

    Sep 29, 2008 at 3:36 PM

    Comment #35

    RE: MA being quiet until his bid was accepted.

    Not strictly true. The reason MA was such a shock was because of the speed it was done in. I can’t remember the exact dates and I can’t be bothered to go an look them up, but didn’t he do something like put his bid in on a Monday and it was all done and dusted in 24hrs?
    Like I said it wasn’t exactly like that but it was very, very quick.
    We didn’t have time to speculate and the press didn’t have time to report, it was that quick.

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  • BenjiToon

    Sep 29, 2008 at 3:38 PM

    Comment #36

    Micky – yes, speed did keep him anonymous but we knew there was a sale in the offing for about week before it happened without knowing the name. Basically John Hall admitted he was selling but didn’t say to who.

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  • GM

    Sep 29, 2008 at 3:39 PM

    Comment #37

    aye thought that was the case Benji – I know they looked at it, just means for peoples fears there will be more than MA doing the checking on these people.

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  • hitman

    Sep 29, 2008 at 3:43 PM

    Comment #38

    http://www.teamtalk.com/football/story/0,16368,1780_4214160,00.html

    if keegan dosnt want to come back,lets get vangaal in.

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  • little willie

    Sep 29, 2008 at 3:45 PM

    Comment #39
  • samthecat

    Sep 29, 2008 at 3:47 PM

    Comment #40

    Would presume there is a deadline for bids-probably 1st October-then the highest wins unless Seymour Pierce can say mate yours is 50m lower than Mr X would you like to increase it.
    You then have due diligence,lawyers and accountants getting involved for a month-a nice little earner-dont see it finalised until 1st November at earliest.-5th of November would be more appropriate-a nice big bonfire for Mike and his friends.
    Pisses me off he is going to make a profit but i suppose if Man City was worth 210m and we own our ground which is worth 100m then 300m is fair.

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