Ashley ‘not ready to sell United yet’
Oct 8 2007 by Paul Loraine, The Journal
NEWCASTLE United yesterday rubbished fresh speculation that owner Mike Ashley is trying to sell the club.
A report in one of yesterday’s national papers claimed that billionaire Ashley is ready to strike a £220m deal with Birmingham chairman David Sullivan.
The report carried a quote from a Newcastle United source, who said: “It is no secret that if Mike Ashley can find a buyer and make a profit, he will sell.”
But a spokesman for the club yesterday said the report was “absolute rubbish”, pointing out that the figure quoted was actually less than Mr Ashley had invested at St James’s Park.
It was the latest in a series of claims in national newspapers that the new regime is looking to make a quick profit on NUFC. And yesterday’s rebuttal was the latest from the club, with United chairman Chris Mort repeatedly stating publicly that he and Ashley – who was at the match again yesterday for the dramatic 3-2 win over Everton – are intending to stay put.
The report stated that Ashley is worried about the extent of the debts he has inherited at Newcastle and is looking for a buyer.
He was linked with sales to consortiums in China and Iceland, though the rumours came to nothing.
The Sunday paper also suggested Sullivan, who is looking to leave Birmingham City, is in a strong enough financial position to buy the club as he is worth £600m from investments in magazines and newspapers.
And it went on to offer another possibility – a takeover led by a group of businessmen based in the North-East.
Just last week Mr Mort said: “To make money out of a football club of this stature you must have a long-term strategy. Several consortia ran a slide rule over Newcastle before us and didn’t go there because this is a big job.
“Mike developed Dunlop and Slazenger, two other companies he bought, over a period of 20 years. He does small investments like Adidas which he then sells on, but that was not a whole business, it was a minority stake. This is an entire asset.”
He added: “The Geordies are wonderful people who have made me most welcome.
“This is a one-club city, unlike say Manchester and Liverpool, so everyone seems with us. I know how much they love their football club and I’m aware of the responsibility I carry.”
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