We expected this sometime this week – a Sultan wants to buy Newcastle United!
This is Qaboos Bin Said (we think)
But it’s the Newcastle Evening Chronicle reporting this, which is usually very good and factual these days — since Alan Oliver left last year, and yesterday the paper thought a group from Omani was eyeing up Newcastle and today they follow up with more information.
The local paper is reporting Sultan Qaboos Bin Said is rumoured to be the lead player behind the scenes to purchase the famous Tyneside club, and it seems it’s for a bargain basement price of somewhere between £80M and £100M – what a deal!
The 68-year-old’s family control the Gulf state, and the Chronicle understands he is trying to raising the profile of the country to compete with the likes of Dubai and Abu Dhabi.
Raise the profile? If he buys Newcastle United he’ll raise the profile of himself, that’s one thing that’s certain – hopefully in a very positive way – and raise the profile of his state too – and raise the profile of Newcastle too – a definite win -win.
Oman, officially the Sultanate of Oman is an Arab country in southwest Asia on the southeast coast of the Arabian Peninsula. It borders the United Arab Emirates on the northwest, Saudi Arabia on the west and Yemen on the southwest.
The coast is formed by the Arabian Sea on the south and east and the Gulf of Oman on the northeast. The country also contains Madha, an exclave enclosed by the United Arab Emirates, and Musandam, an exclave also separated by Emirati territory. Maybe a good place to go for a vacation in the future?
The Oman Sultan is said to be worth around £1.1B, which is about 1.5 times the wealth of Ashley right now, but that’s quite enough money to help Newcastle United out – you don’t need billions to be able to invest say £30M a year in a football club – and that would be very high as an investment every year (starting this summer?).
Everybody’s wealth is reduced right now of course, because of the world-wide recession.
The big question of course is how much money would the Sultan be willing to invest in the Newcastle club, which is vital right now, and would some money be available for this summer?
Hopefully from now on the club will use the transfer funds a lot more wisely than we’ve done over the last 15 years or so. There are many many good young players around – it’s just finding them first – as we did with Sebastien Bassong.
For example some of our readers in Bristol this morning reacted positively to our reported interest in Bristol City’s Bradley Orr, and say he made just one mistake (he spent a week od so in jail a couple of year back), and has cleaned up his act and it would be unfair to compare him with a certain Joey Barton.
The Omani consortium is understood to have proved their wealth already to investment bank Seymour Pierce, the private bankers who are helping Mike sell club. The Omani group have also requested to inspect Newcastle’s books, which is a good sign, and have shown they have have hundreds of millions of pounds to spend – sounds good to us.
Well respected Arabian business sources are telling the Chronicle that any bidders from that region could well include the Sultan, who owns the world’s second biggest yacht.
Said bin Taimur ousted his father in a 1970 coup – talk about family quarrels – with some assistance from the British Army and he also attended the Royal Military Academy at Sandhurst, as well as serving for a year in the Scots regiment the Cameronia.
There is also understood to be a British-based consortium lining up a rival bid to the Omanis, but who they are is not known at this time, although we are being told, no gorup involves former Chairman Freddy Shepherd.
It may be we will hear more of those as the week goes by – since the Chronicle seems to be doing a nice job in getting to the bottom of these stories – which is very good.
But it’s goodnews there is more than one bidder, since that will do a couple of things, quicken up the deal, and raise the price for Mike – at least potentially.
This story may even be true – hope so – and let’s hope it’s the start of some good news surrounding the club – we certainly need some. 😀