Asian billionaires in battle as Ashley is ready to sell
£260MILLION NEWCASTLE WAR
EXCLUSIVE by ROB SHEPHERD
NEWCASTLE are at the centre of a massive £260million takeover battle between TWO of Asia’s richest companies.
Toon owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India’s biggest telecoms company.
But Singapore-based global investment company Profitable Group — who include former England star Steve McMahon as a director — also want to buy Ashley out.
Anil Ambani sets his sights on Newcastle - Click here for more
The Newcastle chief admitted last month he is anxious to find investors to ease the financial burden at beleaguered St James’s Park.
But both Reliance and Profitable are ready to pay £260m to own the Magpies outright and are determined to spend more than £100m on transfers to bolster the team, managed by Kevin Keegan.
Challenge
Billionaire Ashley bought Newcastle in July, 2007 for £130m and immediately pumped in another £80m to wipe out the debts.
However, he has not been able to spend anywhere near as lavishly as most of the Toon Army demanded and has made it clear he will not sanction the kind of huge signings which might help challenge for a Champions League place.
That, though, would not be a problem for Ambani, India’s second richest man.
His personal fortune stands at around £21billion, while his RCom company is valued at £22.5bn.
And Profitable Group — who have ex-Liverpool star McMahon as their commercial director in charge of strategic sports investment — have made it clear they are willing to spend big.
McMahon made a name for himself as a TV pundit in Singapore working for ESPN and he gives Profitable, who targeted Everton earlier this year, an insight into the workings of English football clubs.
if this get rid of 'barrow boy' ashley a good thing and plenty of cash for signings
Posted by: adam smith | August 03, 2008 at 01:33 AM | Report this comment
I hope he brings enough Rubels to get rid of Alan Smith and Damien Duff.
Posted by: Wullie | August 03, 2008 at 01:42 AM | Report this comment
omg. this cannot be true!
i would love it! LOVE IT
....bit woried if we end up like ma u and chelsea tho...600mil in debt!
Posted by: nick | August 03, 2008 at 01:48 AM | Report this comment
While the big money men play games to outdo each other, I'm afraid only the supporters will suffer in the end. Makes one think about the economical climate at the moment and how they have a big hand in playing it.
Posted by: Rob | August 03, 2008 at 02:01 AM | Report this comment
What's that? Newcastle are signing someone and we didn't hear a whisper about it?
Quick, knock up another of those 'Ashley to sell' stories. That'll teach 'em...
Posted by: Dave | August 03, 2008 at 02:14 AM | Report this comment
Woohoo! This is great news. This is an expensive seat you know.
Posted by: Ashley Michael | August 03, 2008 at 02:15 AM | Report this comment
Hopefully this will mean Keegan gets the financial backing needed to build a World class team around James Milner.
Posted by: MiguelJon | August 03, 2008 at 02:16 AM | Report this comment
I really hope that this is true and we can see the end of Ashley and his penny pinching bean counters.
I hope the new owner has the presence of mind to bring back Freddie, people might not like Fred but at least he delivered the 5th best team over a decade and got us our best ever CL finish, fact.
Any new owner must beat 4th, 3th, 5th and 7th place in the league or he's a penny pinching failure, double fact.
Posted by: Steve | August 03, 2008 at 02:48 AM | Report this comment
i'm a manchester united fan from India.
But, if Ambani takes over Newcastle United, I would be really afraid because whatever he has set his eyes on has become the best. (literally)
But, even with the extra cash, it will take you guys 2-3 seasons to build up and find consistency.
Posted by: Piyush Upmanyu | August 03, 2008 at 06:35 AM | Report this comment
well i hope it's true, toon are never going to challenge for any trophies as long as ashley's in charge. He's missed a trick with newcastle, if he had signed just 1 world class player it would have raised the clubs profile in the asian market, increasing sponsorship,shirt sales etc. Ambani makes abramovic look like little orphan annie. get behind the toon, and get rid of these hangers on, wise,jiminez etc.
Posted by: Neil in Durham | August 03, 2008 at 07:31 AM | Report this comment
a great thing for Newcastle and also a bad thing. The great thing is that Mike Ashley leaves and should be banned of attending any future games. The bad thing is that yet again another club falling into foreigner rich men who dont really know or care about footy. Next stop a squad of foreigners only coming to a team for money and not for the club.
Sad news. Especially that Fat Boy Ashley will sell to the one that forks out more and not the one that has passion for Newcastle.
Posted by: Dan | August 03, 2008 at 07:38 AM | Report this comment
The money proposed here is unlikely. This will be mike ashley asking for 1% owners. If they did take over we'd have some new asian/ indian faces in the squad and historically there havnt been too many legends in football from those areas. Kevin Keegan may loose his job aswell! were building a squad here and being sensible about the money we spend. the youth team has been strongly invested in and it will be only aseason or two before we start seeing those players popping up. this is speculation not needed. just the media messing with us once again!
Posted by: joe | August 03, 2008 at 07:38 AM | Report this comment
What, you mean Mike Ashley ISN'T gonna be "pumping £100m a year into Newcastle!" (?)
Oh I'm sooo surprised!
Anyone with even the slightest knowledge of the way he operates could've told you that loooooong before he ever took over that joke of a football club. He never had any intention of spending £1m, let alone £10m on players - not his style at all.
Sorry Toon Army, but you're sooo desperate these days that you really WILL believe any rubbish that's thrown your way. What's that, "Ronaldo 2 da toon man 4 100m maan!" - Hil-arious.
Posted by: TimmyTooShooz | August 03, 2008 at 08:17 AM | Report this comment
Its all pie in the sky as per usual. Investors of this kind want clubs like Chelsea, Man Utd and even Liverpool not Newcastle. I have heard the fans are loyal and passionate but I feel once Thatcher closed all the mines up there the area took a turn for the worst. Nice story to wake up to though if you are a Newcastle fan but one thinks that the reality will be something different.
Posted by: Brian Ashford Russell | August 03, 2008 at 08:19 AM | Report this comment
bit worried if we end up like ma u and chelsea tho!!!
HAHA!!!!!
Like thats ever going to happen
Deluded Geordies crack me up!
Posted by: Mark | August 03, 2008 at 08:27 AM | Report this comment
We've waited far to long for silverwear at Newcastle utd. Lets hope whoever takes over puts there hand in there pockets and sign quality players. Lets have a good clear out of some of the rubbish we have at this club and start to build a squad that wants to play football and want to fight for there places in the squad. Most of them there only turn up for the money and thats been like that for some time now. Time for a change, a big change!!!
Good luck Newcastle!
Posted by: Stevie T | August 03, 2008 at 08:31 AM | Report this comment
Ashley out, these ne Asian billionaires out, we need Freddy Shepherd back. He made us the 5th most succesful eam in the country you know. He brought us Champions League football, he even brought us Souness.
Come back Freddy if you forgive us!!
Posted by: Kenny | August 03, 2008 at 08:41 AM | Report this comment
Stop having a go at Ashley it's his money and who tells you how to spend your money,One things for certain a little bit longer under Freddy and Newcastle would have done a Leeds.Ashley paid off Newcastle's huge depts and brought KK back to build a young team slowly.
Posted by: Pierre Brennan | August 03, 2008 at 09:33 AM | Report this comment
What a Carry On at Syd James' Park, but...
you've got to laugh at them!
Unfortunately, football is a business and no longer a sport and businesses are there to make money.
Posted by: SAFC -FTM | August 03, 2008 at 09:35 AM | Report this comment
Newcastle Football Club and its fans deserve each other. The fans are the most deluded in the premiership having a big fan base does NOT mean you are entitled to win anything. The club is never going to be in the same league as Man UTD, Chelsea, Liverpool or Everton in fact none of your players are fit to lace the boots of any of these teams. newcastle united is a dressed up Wigan at best. And to top it all you are keeping that sicko barton, next thing you will be signing Barry George as an advisor. You stupid stupid newcastle fools. We are sick to death of reading about your disgusting antics of your board players etc in the papers. I probably speak for most people here and wish that next year we are reading that Newcastle have been relegated. You disgust me!!
Posted by: Keith Mills | August 03, 2008 at 09:41 AM | Report this comment
I'm "furious". Get hapless Enrique out. Rumour has it Wise it undermining Keegan too. Shearer!
Posted by: Julio Geordio | August 03, 2008 at 10:14 AM | Report this comment
You know what, I'm past caring. I held a season ticket at St. James' Park for 8 years and I have seen the good, the bad and the damn ugly. If we do not buy new players, decent ones at that, we are going down! Look all around us, everyone is buying and what are we doing? Speculating. Toon for Championship next season if Ashley doesn't back Keegan. Simple as.
Posted by: Born and Bred Geordie | August 03, 2008 at 10:25 AM | Report this comment
Im not a Newcastle supporter but I like them and its a shame to see them in such decline. I remember them fighting it out for the title and making exciting signings. Its a shame to see them as a mid table at best relegation candidate. The way its looking its going to be a scrap between Blackburn,Newcastle and Hull to stay up. Shame
Posted by: Tony Regan | August 03, 2008 at 10:29 AM | Report this comment
Re comment from Keith Mills how ridiculous you are, all you can do is insult Newcastle fans. Granted Newcastle are not as big a club as man u or liverpool but are equal to Chelsea or Everton with more fans. Your comments about Wigan show what a fool you are. Do you know anything about the history of football in this country?
Posted by: Louise Brown | August 03, 2008 at 10:35 AM | Report this comment
Maybe I'll be rewarded with the contract I deserve now.
Posted by: Michael Owen | August 03, 2008 at 10:52 AM | Report this comment