Newcastle owner in takeover talks

john the tinca · Posted: Fri Jul 04, 2008 1:39 pm Post subject: Newcastle owner in takeover talks

Informal discussions have taken place over the potential sale of Newcastle to American investors.

It is understood representatives of owner Mike Ashley have met counterparts from New York-based private equity fund InterMedia Partners.

A report claimed Ashley named a price of £420m - about £286m more than he paid for the club a year ago.

Sources in America confirmed that the US company held initial talks, but Newcastle have not commented.

Former chairman Freddy Shepherd had already fought off a series of potential takeover bids when Ashley made his move last summer, eventually securing a £134.4m takeover.

He has since ploughed around £100m into the club to address the debt situation he inherited and to strengthen the squad.

Ashley has now embarked upon a economy drive in an attempt to slash transfer expenditure and a spiralling wage bill.

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