Barry Moat is closing in on a deal to buy Newcastle United, according to sources in London, and if he is smart he’ll try to close the deal quickly, before other bidders come in for the club that is sitting pretty on top of the Championship after 11 games.
Barry Moat – should move quickly to buy Newcastle
The word from inside Seymour Pierce, the investment bank that is brokering the sale of the famous Newcastle club, is that Tyneside businessman Moat is now on the verge of securing all the financial backing needed to be able to finally purchase the club.
It didn’t take a genius to realize the rather small award given to Kevin Keegan removed a huge uncertainty financially from the club, and it could have been a lot worse, with the news that Kevin was actually seeking £25.1M, despite his people denying that story of last Sunday.
Moat has had to maintain the support of several backers over the last few months, while he persuaded club’s bankers Barclays to give him a decent overdraft limit.
Sources close to the takeover negotiations are now said to be confident that Moat can finally buy the club.
Seymour Pierce maintain that Ashley may have already attended his last Newcastle game, and surely Moat’s goal would now be to buy the club within the International break of 2 weeks.
We have to think the other potential buyers will also have been alerted by the small penalty imposed on Newcastle United for the disgraceful handling of Kevin Keegan, and will also be moving at full speed.
The best scenario is that the club is now sold very quickly.
But there are still some concerns that Moat has the money to be able to fund the transfers and/or loan signings the club will need in January.
And if we are lucky enough to get into the Premier League for next season, the club will need some funds to bring in the 4-5 top players we will then need to be safe in the Premier League next season.
The other unknown with Barry Moat is the Newcastle manager, and whether he will immediately bring in Alan Shearer, as has been reported.
After Chris Hughton has done so well with the team for the last 3 months, under almost the worst conditions possible, one would hope some stability is needed at Newcastle this season, and changing managers isn’t always the best thing – in mid-season – as we found out last season.
That will be a tough call to make.
Not once has Chris complained – about anything – and his positive attitude and down to earth thinking has seemingly rubbed off on many of our most senior players, and the good and still rather surprising results are there for all to see.
But the money Moat does or doesn’t have still seems to be the major concern with many of our readers.
We would hope that definite news on the sale of the club comes within the next couple of weeks.