Moat lodges formal Newcastle takeover bid as end of Ashley era beckons
06 October 2009 01:26
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Barry Moat submitted a formal bid for Newcastle United on Monday, a positive development in the Tyneside businessman's attempt to purchase the club from owner Mike Ashley.
It is not thought to be the £100million Ashley was demanding when he put the club on the market in May but, with Newcastle saying two weeks ago that all parties had then reached 'sale and purchase stage', it appears the end of the Ashley regime is close.
Moat's arrival would signal the return of Alan Shearer as manager.
And Moat is said to have satisfied Barclays Bank's criteria after various problems trying to get the money together, so Ashley has only to sanction the sale.