Mike Ashley Places $860M Price In Effort To Sell Newcastle
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Ashley Asking $860M
For Newcastle United |
English Premier League (EPL) club Newcastle United Owner Mike Ashley put a US$860M price on the club during an "audacious attempt to sell" the team to Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum, according to Rob Stewart of the London TELEGRAPH. A source said Ashley's price tag is "just too much for this club, but we will see what happens and what offer can be made." Stewart notes there is likely "only a slim chance of the club changing hands -- and then only if Ashley drastically lowers his price" to a value between US$446.7-536.0M (London TELEGRAPH, 9/17). In Manchester, Louise Taylor notes reports have Dubai's Zabeel Investments and the Dubai Investment Group, which both owned by Sheikh Mohammed, "considering making offers" for Newcastle. However, a source said Zabeel's takeover is "highly unlikely." Taylor notes with Sheikh Mohammed "intent on buying" EPL club Liverpool and Newcastle's "price around [US$410.9M] more than Ashley has invested in the club, there was little initial interest" (Manchester GUARDIAN, 9/17).
MORE PLAYING TIME: In London, Jacob & Dart report EPL club Arsenal's BOD at a meeting tomorrow will add Rockies and Avalanche Owner Stan Kroenke, who owns a 12.38% stake in Arsenal, to the team's board in "its attempt to ward off the potential takeover threat from" the club's largest shareholder, co-Owner Alisher Usmanov. Arsenal's BOD has been "forging closer ties with Kroenke ... since Usmanov began raising his stake" to 24.9%. Arsenal tomorrow also is expected to "ratify the appointment" of Peter Lawwell as the team's new CEO, a position Lawwell currently holds with Scottish Premier League club Celtic FC (LONDON TIMES, 9/17).
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