The Times, The Daily Mirror and The Daily Mail are all reporting this morning the Barry Moat has lodged a substantial offer for Newcastle United.
Barry Moat – made his formal offer yesterday of close to £100M
George Caulkin of the Times seems to be the one who has broken the story, and George is a respected reporter of things Newcastle United, and is usually accurate with his stories.
The news is that Barry Moat, the Tyneside-based businessman, has received guarantees from Barclays that he will be provided with enough working capital to run the club, and it is again reported that he will immediately appoint Alan Shearer as Newcastle manager.
Moat is understood to have bid less than the £100M Ashley is asking, but the offer is said to be close to that figure.
Moat is also said to have met the Barclays Bank’s set of criteria to get the overdraft loan he needs, and Ashley has only to sanction the sale for it to become official – finally.
Barry is the preferred bidder of Seymour Pierce, the investment bank that has been handling Newcastle’s sale fr almost a year now, and he has been for several weeks now.
Ashley now has a decision to make, and we think he has thought carefully of keeping the club, as indeed Dennis Wise indicated over the weekend.
He could even keep the club until the summer, at which time Newcastle could well become a Premier League side again, and its price will go up, possibly substantially and approach a £200M figure.
We have to believe that last week’s £2M payout to Kevin Keegan, removed a significant impediment to buying the club, and we would think that other consortia may also be eyeing the famous Tyneside club, which is why Barry and his backers have to move very quickly, as we have previously reported.
But Newcastle fans have rightly become rather tired and weary of all the reported potential sales of the club over the last 4 months or so.
But after Ashley and his cronies were exposed last Friday, of plainly lying to both the Geordie public, and to the manager Kevin Keegan, any decent man would sell the club and move out.
And therein lies the problem.