CHARLES SALE'S SPORTS AGENDA: Desperate Ashley will wait for Moat over Newcastle sale

31 August 2009 00:05
Newcastle owner Mike Ashley is now prepared to wait for at least another month after this week's transfer deadline to see if he can sell the troubled club to Toon property magnate Barry Moat, who is the preferred choice. Despite all the recent deadlines on a sale imposed by Ashley, Moat needs the extra time to find out whether he and his backers can raise the necessary additional money to ensure lenders Barclays Bank are not in a position to close down the club at any moment. Moat, even with the shortfall in his current funding plans, retains the full confidence of football club brokers Seymour Pierce, whom Ashley has instructed to sell Newcastle. The difficulties Seymour Pierce have encountered in finding a genuine new owner for Newcastle include sham buyers presenting documents claiming fictitious support from a Swiss Bank, while another offer included the endorsement signatures of the HSBC high command without their knowledge. At least Moat is recognised as a realistic purchaser who, if successful, is expected to get rid of Derek Llambias faster than the time it took the current managing director to streak across St James' Park - and then deny he did it.

Source: Daily_Mail