7 Jul 2009Two £100m bids for Newcastle United

Football Finance News | Football Leagues/ Association and Governance

Two parties have submitted bids to buy Newcastle United at the asking price suggested by current owner Mike Ashley, it has emerged.

Managing director at the club Derek Llambias has made the revelations, with a Malaysian consortium thought to have taken a tour around St James' Park and the Championship side's training ground recently.

However, selling for this sum would represent a significant loss for Ashley, as he spent £134.4 million to take control of the club in 2007.

Meanwhile, it is estimated that in all he has ploughed around £244 million into the club during his tenure.

Llambias said: "There have been more than two bids at £100 million.

"At the moment, we are in the hands of lawyers and it is all ongoing. We are giving interested parties all the help that they need."

The Magpies will need to ensure that a deal is done relatively quickly, with the club taking on West Bromwich Albion in their first Championship game on August 8th.

Ashley's investment in Newcastle United started in May 2007 when he bought Sir John Hall's 41.6 per cent stake, before he acquired Freddy Shepherd's 28 per cent share soon after.

Written by Paul Roberts

© Copyright