No Toon sale until new year?
Published Date:
09 October 2008
THE proposed sale of Newcastle United could drag on into next year.
Financial experts have also warned boss Mike Ashley that he may have to 'take what he is offered' as his attempts to off-load the club are threatened by the credit crunch.
The St James's Park owner has extended his deadline for bids to next Friday, with eight parties interested in the club, valued at £250m to £300m.
But Keith Harris, the investment banker hired by the billionaire tycoon to sell the club, warned the global economic crisis could stall any sale until after Christmas – which could affect any plans in the January transfer window.
He said: "You can't avoid being affected by the financial markets one way or another."
Professor Tom Cannon, an expert in football finance at Buckingham Business School, said: "Given that the club has been up for sale for several weeks, I would be surprised if the situation would change in the next 10 days."
The full article contains 167 words and appears in Shields Gazette newspaper.
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Last Updated:
09 October 2008 1:56 PM
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Source:
Shields Gazette
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Location:
South Shields
