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American group to place takeover bid on Newcastle

7 Jan, 09


English Newcastle United is awaiting a takeover offer for the club from a consortium in New York, reportes the Sunday Mirror. This is regardless of the fact that owner Mike Ashley removed the club from the market after not being able to bring in offers at GBP 250 million.


The New York-based sports management group plan to bid near GBP 180 million for the club, provided Newcastle is not relegated. The club's league status will determine whether or not the bid will stay at this amount, or drop down closer to GBP 134 million, which was Ashley's original purchase price for the club. Newcastle United's status will be set by May.


The interested party is interested, but will postpone an official bid until the status of the club can be determined. Joe Kinnear will continue to stand in as manager until the end of the season.


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