Malaysian group get St James’s Park tour

Jul 3 2009 by Luke Edwards, The Journal

ONE of the consortia bidding to take control of Newcastle United were given a guided tour of St James’s Park and the club’s training ground yesterday.

United’s managing director Derek Llambias travelled up from London on Thursday morning with representatives of a Malaysian consortium who are secretly conducting due diligence ahead of a planned £100m offer to owner Mike Ashley.

However, they have not completed a deal to buy the club and are just one of several groups who could officially be in charge as early as next week.

A United source said: “Derek Llambias brought the men up from London because they wanted to have a look around the stadium and the city itself.

“It was a brief visit, but a productive one. The group are serious bidders, but they have not completed a deal yet and they are just one of a number of groups who want to buy the club.

“They are no further along at this stage than the other serious bidders. There has been a lot of interest and the sale should go through fairly quickly now.”

The Journal understands that at least three consortia are prepared to make firm bids to buy the club today, with a deal likely to be finalised at the start of next week.

As well as the Malaysian group, The Journal understands an American based consortium and one with significant South African influence are heading the race to end the Ashley era.

The apparent movement towards the eventual sale of Newcastle United will be welcomed by supporters, as well as manager-in-waiting Alan Shearer, who is desperate to get started on the project of returning the Magpies to the top flight. However, Shearer did not meet the Malaysian representatives yesterday and does not know whether he is their choice to become permanent manager.