News today that Mike Ashley has extended the deadline for those interested in buying Newcastle from today until October 17th, which is a week come Friday.
That’s not particularly good news because due diligence is thought to take around 6 weeks before the sale would be complete, so maybe this is where Joe Kinnear is getting the information that he may be at Newcastle for as many as 10 games.
It is being reported that up to eight groups have contacted investment bankers Seymour Pierce to register a serious interest in buying the Tyneside club. Owner Mike Ashley’s price is now thought to be from £280M to £300M for the club, and that would give Mike a tidy profit of between £35M to £55M on the deal, in a short 17 months.
This seems like a delay in the proceedings, but it will not have too much of a negative impact if Joe Kinnear continues the way he’s started at the club.
He’s done a great job with the team in his first week, that’s for sure, and you cannot say he’s not a character and keeps things interesting. 😀
Comments very welcome.