ANOTHER DAY, another takeover story at Newcastle United, but there is substance behind a detailed report that Anil Ambani, the head of one of India's largest companies, wants to buy the club. Although a Newcastle spokesman dismissed as "absolute rubbish" suggestions that the club's owner, Mike Ashley, was in talks with Ambani about a €330.2 million takeover, other sources provide evidence to the contrary.
Moreover Profitable Group, a Singapore-based global investment company whose directors include former Liverpool player Steve McMahon, are also interested in purchasing Newcastle.
Ashley recently admitted, "This is a very expensive seat I sit in," and said he would welcome a co-owner, but both Profitable Group and Ambani's Reliance Communications are demanding complete control. Newcastle's spokesman yesterday insisted such an outcome would not appeal and that, although Ashley was keen for the club to attract new investment, preferably from the north-east, he wanted to remain heavily involved.
Conversely, financial analysts maintain that the stumbling block to any takeover is Ashley's reluctance to sell for less than €381 million. Ambani is understood to have stated that any attempt to haggle for more money would result in him trying to buy a different English club. This is a warning that Reliance are unwilling to become embroiled in a bidding war.
Ambani (49), who boasts a personal fortune of €26.7 billion, is believed to be prepared to invest about €127 million in new players and hopes that the process of due diligence can begin this week. Sources insist that Newcastle have been offered to potential buyers in the United Arab Emirates and the United States.
Ashley has seemed reluctant to back Newcastle's manager, Kevin Keegan, by investing heavily in what is a shallow squad, although Fabricio Coloccini, Deportivo La Coruna's Argentina defender, does appear on the verge of a move to Tyneside. The 26-year-old will cost about €12.7 million.
There were reports yesterday that Newcastle will pre-empt Football Association sanctions against Joey Barton by imposing their own three-month suspension on the midfielder for a training-ground assault on his then Manchester City colleague, Ousmane Dabo, in May 2007. Such suggestions surprised a club spokesman and would contradict Newcastle's stance last week.
Although the FA has hinted that the 25-year-old may receive a 15-game ban, skilled lawyers could conceivably use the precedent of John Hartson - who was suspended for three games after kicking Eyal Berkovic - to secure Barton a shorter suspension when the case is heard by an independent commission. Keegan is known to be keen to have Barton available for selection as quickly, and as often, as possible.
