The Sunday Sun today is reporting that Mike Ashley will issue an update on where things stand as far as the owner selling the club.
Things have gone awfully quiet on that front over the last several weeks.
We were told there were four consortia trying to buy the club for Ashley’s price of about £300M, but that not one of them can come up with the money to do the deal.
£300M will help cover the money Mike Ashley has invested into the club, which is around £260M, and that includes the interest-free loans he has outstanding.
We expect Mike Ashley to be self-serving and say he tried to sell the club, but he didn’t get any suitable offers and that the club will remain up for sale.
Mike Ashley and Lee Charnley at Wembley yesterday
But if the price is high enough nobody will ever buy Newcastle United.
The consortium led by Peter Kenyon got closest to buying the club, but they were reported to be as much as £100M short of the price.
Mike Ashley is still waiting for an improved bid to come in from Kenyon, but none has arrived.
And it was reported last week that Newcastle struck a loan deal with Barclays to cover the cost of the two transfers we did last month – one permanent and one a loan.
Mike Ashley will not put any more of his own money into the club, but we don’t need that,
We need Ashley to allow Rafa to spend some of the club’s money that must be available.
After all, we are the 19th richest football club in the world based on revenues