Nigerians eye Toon takeover

Reports in African suggest consortium plans Ashley approach

Last updated: 22nd September 2008

Nigerians eye Toon takeover

St James' Park: Possible bid

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A consortium based in Nigeria is planning a bid to take over Newcastle United, according to reports in Africa.

Earlier this month, current Magpies owner Mike Ashley announced he was looking to sell the club following the criticism he has received in the wake of Kevin Keegan's resignation.

However, a buyer has yet to be found, with Ashley rumoured to be looking for a fee of more than £400million and Dubai International Capital recently ruling themselves out of the running.

But a Nigerian company claims to have £350million - and is bidding to secure the remaining funding which would improve its chances of a successful takeover.

Sky Sports News chief news reporter Bryan Swanson has also learnt that one of the Nigerian consortium's main aims would be to reappoint Kevin Keegan as manager.

Swanson has been told Keegan is a major part of their plans.

Interest

Chief Executive Officer of the NVA Management Chris Nathaniel, whose company are said to be handling the deal, told Kick Off Nigeria: "All along I have been working hard to get wealthy and football loving Nigerian entrepreneurs to buy the club since Mike Ashley indicated his willingness to sell the club to the person, people or entrepreneurs who can meet the £400million selling price of the club.

"Right now I am happy to tell you that well meaning Nigerians have responded and the consortium of Nigerian entrepreneurs has so far contributed £350million to buy the club.

"Ashley has stood his ground that he won't sell the club until the money is raised to the asking price of £400million.

"So what that means is that we need to raise another £50million or £100million to shut the door behind the other top Arab companies who are also interested in the club.

"The Arab companies have also indicated interest and made offers - but they haven't met the asking price too."

Harris role

Meanwhile, Newcastle have confirmed that London-based investment bank Seymour Pierce will be overseeing the sale of the club.

Former Football League chairman Keith Harris, who is currently with Seymour Price, helped broker the takeover deals for Chelsea and Aston Villa in recent years and he is expected to head the search for Newcastle's prospective new owners.

A a statement released by the club read: "The Board of Newcastle United can today confirm it has appointed the London-based investment bank Seymour Pierce to act on the potential sale of the club.

"All matters relating to the sale of the club, including inquiries from interested parties, should go through Seymour Pierce.

"The club will be making no further comment at this time."