Abu Dhabi-based group complete takeover – as hopes fade of Newcastle United sale
Another English club has been taken over – but Newcastle United remains unsold.
It was today revealed that East Street Investments from Abu Dhabi had bought Championship team Charlton Athletic.
The news comes as City Football Group, the parent company of Manchester City, sold a 10% stake for a staggering £389million to an American private equity firm. It was claimed last year that Sheikh Mansour considered buying Newcastle, put back on the market two years ago by owner Mike Ashley, before buying City 11 years ago.
United is still up for sale, but there isn’t a buyer prepared to pay upwards of £300million for the club. Ashley said in the summer that he could own Newcastle “forever”.
Fans have long asked if Ashley is a willing seller. What is clear is that the price must be right if the club is to ever change hands – and the asking price, up to now, has not been right.