For Sale
Newcastle United have extended the deadline for an offer from Tyneside businessman Barry Moat, although they have not said just how long they are prepared to wait.
Moat needs to convince Barclays Bank that he is able to service a £39million overdraft facility before he can make a formal offer. The statement from Newcastle United says:
“Newcastle United confirm that we have extended our deadline to Barry Moat to table an offer for the club. The extension is being granted in order to allow Barry Moat and his advisers to conclude funding arrangements with Barclays, current banker, for the continuation of last season’s £39m facility. This would allow a formal offer to be tabled.”
Latest reports suggest that two other groups of potential purchasers of the club have entered the arena and are already in talks with the Newcastle owners, although Mike Ashley is adamant that nothing less than his figure of £100million will be entertained.
Newcastle United are currently enjoying their best spell for some time and are setting the pace at the top of the Championship with fellow relegated clubs, Middlesbrough, West Bromwich Albion and also Cardiff – all on ten points.
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