Indian billionaire revives interest in Newcastle - and could hire Kevin KeeganSimon Rushworth
Mike Ashley, the embattled owner of Newcastle United, could be offered an early opportunity to follow Kevin Keegan out of St James´ Park after it emerged that there is fresh interest in the Tyneside club from abroad.
It is becoming increasingly likely that Reliance Communications, the Indian-based telecoms giant, will seek formal talks with the Barclays Premier League club´s board with a view to a £220million takeover. However, of greater significance to those furious Newcastle supporters determined to oust Ashley is the revelation that Anil Ambani, the owner of Reliance, has identified Keegan as the only credible managerial candidate capable of moving the club forward.
Less than 24 hours after Keegan announced his departure from St James´ as manager for the second time, the odds on him being reappointed had fallen to 14-1. Ambani is a great believer in continuity and his representatives are aware of the standing of the so-called “Geordie Messiah” among the club´s supporters. He was first linked with a buyout of Newcastle last month, but his representatives hastily denied suggestions of a £260million move. It is understood that Ambani balked at that price because Newcastle had failed to strengthen a threadbare squad.
However, Reliance has since followed developments at the club and the team that it assembled to investigate the viability of a bid believes that the time is right to test Ashley´s resolve. Aware of the vitriol aimed at Newcastle´s owner by fans who feel that Keegan is an innocent victim of mismanagement, the Indians are ready to move fast with an offer that more realistically matches their assessment of the club´s value. Ashley paid £130million for Newcastle in July 2007 and immediately wiped out debts estimated at £80million, but rumours persisted that the reclusive businessman was seeking an early sale after becoming disillusioned with his significant investment.
Related Links
English Football clubs woo Bollywood
Future looks very uncertain for Newcastle
Despite club statements insisting that the owner of Sports Direct, the leisure-wear firm, was not inclined to sell his recent acquisition, highly placed sources suggest that Reliance and others were invited to bid in excess of £250million for Newcastle this summer. Those sources said yesterday that Ambani was ready to revive interest in his favourite Premier League club, with Keegan at the centre of an ambitious public-relations policy aimed to get disillusioned season ticket-holders and deserting businesses back on board.
Ashley is minded to tough it out and go against the advice of those urging him to end a tumultuous foray into football ownership. Yet just as Keegan´s position as manager became untenable, it would be hard for the Newcastle owner to operate effectively in the face of a torrent of criticism.
Ambani will appeal to Newcastle supporters, who crave serious investment in the team come January. The world´s sixth-richest man boasts a fortune of £21billion and it is understood that Keegan, should he be persuaded to return for a third term at St James´ Park, would be handed at least £100million to strengthen the Newcastle squad in the new year.
http://www.timesonline.co.uk/tol/sport/football/pr...