US consortium eyeing Newcastle bid

31 August 2009 18:40
Representatives of a New York-based consortium claim they hope to hold talks with Newcastle over the next 48 hours with a view to buying the club. They have flown into the country and say they are ready to hold substantive discussions with owner Mike Ashley and managing director Derek Llambias rather than investment bankers Seymour Pierce. Their mission comes a week after prospective buyer Barry Moat was given extra time to put financial arrangements in place before launching a formal bid for the club. With the summer transfer window due to close at 5pm tomorrow, the club remains up for sale more than three months after Ashley decided to put it on the market for the second time in less than a year. All the indications in recent days have been that none of the many parties which have expressed an interest has yet come up with the money to mount a successful takeover bid. Sources on Tyneside revealed tonight that they are aware of the American group, but insisted they have yet to prove they have the funds to strike a deal.

Source: Eurosport