Ashley to be advised to accept Barry Moat bid for NUFC

Aug 5 2009 By Luke Edwards

MIKE Ashley will be advised to accept a bid from a consortium fronted by local businessman Barry Moat by the bank in charge of the sale of Newcastle United.

Moat's offer, which is understood to  include significant financial backing from American parties, is due to be named as the preferred bid by merchant bank Seymour Pierce in the next 48 hours.

It is not known whether the bid matches Ashley's £100m asking price, which may still prove to be a stumbling block to any takeover given the sports retailer's determination to hold out for that sum.

If the bid is turned down, Ashley is expected to take the club off the market, with Joe Kinnear angling after a return as manager following claims on Wednesday afternoon that he has already been offered a two-year contract.

Nevertheless, sources close to the deal last night indicated this was a significant breakthrough in the sale process and may signal the beginning of the end of a saga which has plunged the club into crisis following relegation to the Championship back in May.

Moat will look to appoint Alan Shearer as manager as soon as a deal is completed and, given the turmoil at St James's Park and the severe damage that has been done as the sale has dragged on into a fourth month, Ashley will be under enormous public pressure to accept the offer and bring an end to a dreadful chapter in the club's history.

Shearer has almost certainly been aware of Moat's interest for several weeks as the businessman was chairman of his testimonial committee and is a prominent box holder at St James's Park.

Shearer, who is on holiday in Portugal, was unavailable for comment although sources close to the former United skipper insisted he was "relaxed" about the situation.