Join Now | 
HomeAboutContact UsPrivacy & SecurityAdvertise
Soccer America DailySpecial EditionAround The NetSoccer Business InsiderCollege Soccer ReporterYouth Soccer ReporterSoccer on TVSoccer America Classifieds
Paul Gardner: SoccerTalkSoccer America ConfidentialYouth Soccer InsiderWorld Cup Watch
RSS FeedsArchivesManage SubscriptionsSubscribe
Order Current IssueSubscribeManage My SubscriptionRenew My SubscriptionGift Subscription
My AccountJoin Now
Tournament CalendarCamps & AcademiesSoccer GlossaryClassifieds
British Billionaire in Line for Newcastle Takeover
Independent, May 24th, 2007 4PM

MOST READ

MOST COMMENTED

Newcastle United looks set to be the next English Premier League club to be bought out after Mike Ashley, "one of Britain's wealthiest and most secretive businessmen" according to the Independent, purchased a 41.6 percent stake in the club for approximately $110 million. The stake was purchased from the club's biggest shareholder and life president Sir John Hall through a satellite company set up by Ashley. The Sunday Times' Philip Beresford, who compiles the paper's "Rich List," estimates Ashley's fortune at $3.77 billion, describing him as "easily Britain's answer to the late Howard Hughes."
 
At least he's British. Given the uproar in England surrounding the takeover of EPL clubs by wealthy foreign investors, Newcastle supporters will at least be able to take some solace from the fact that Ashley is a compatriot and soccer fan-unlike say, American owners such as the Malcolm Glazer family at Manchester United and George Gillett and Tom Hicks at Liverpool.  
 
However, Ashley's Newcastle takeover is not a certainty. London stock exchange rules require that the billionaire make a cash offer for Newcastle's remaining shares, around 30 percent of which are owned by club chairman Freddy Shepherd, who last week said he wouldn't sell to a foreign investor, but would consider an offer from a "Geordie Abramovich," or a wealthy Newcastle fan. Ashley, a follower of the England team, would fall somewhere in the middle.

Read the original story...



No comments yet.

Sign in to leave a comment. Don't have an account? Join Now




AUTHORS

ARCHIVES
FOLLOW SOCCERAMERICA

Recent Section 2 Around the Net
Roma Partnering with U.S. Youth Clubs    
Italian Serie A club Roma, which has American ownership, aims to forge partnerships with seven U.S. ...
LVG: Falcao "Has to Prove Himself"    
Manchester United coach Louis van Gaal has responded to criticism over dropping Radamel Falcao by claiming ...
Report: Adidas to Assist Messi Move?    
According to Spanish sports daily AS, Lionel Messi's sponsor Adidas could be the key to the ...
Mourinho Questions Man City's Transfer Policy     
Chelsea coach Jose Mourinho suggested that rival Manchester City is not adhering to UEFA's Financial Fair ...
Toure Admits Man City Future in Doubt     
Speaking ahead of the opening games of the African Nations' Cup in Equatorial Guinea this weekend, ...
Ronaldo Blasts 'Defensive' Atleti Tactics    
Cristiano Ronaldo blasted Atletico Madrid for its unattractive style after the Rojiblancos ousted Real Madrid from ...
Fabian Johnson's 'Spat' with 'Gladbach Coach Favre    
According to Bild, USA defender Fabian Johnson is in a "spat" with Borussia Monchengladbach coach Lucien ...
Serie A to Introduce Goal-Line Technology     
Serie A will introduce goal-line technology next season after the Italian soccer federation (FIGC) gave its ...
Ronaldo: Cristiano Junior Prefers Messi     
Real Madrid forward Cristiano Ronaldo, who on Monday was named the 2014 Ballon D'Or winner, revealed ...
Debuchy to Miss Three Months     
Arsenal coach Arsene Wenger on Wednesday revealed that right back Mathieu Debuchy is set to miss ...
>> Section 2 Around the Net Archives