Mike Ashley to be gone by next month with sale of Newcastle to be confirmed
Published 21:10 27/09/08 By By Brian McNally
Mike Ashley will be out of Toon by the end of October.
That's the good news for Newcastle United fans reeling from the chaos engulfing their club.
Since Ashley put the club up for sale for s350million two weeks ago, 20 interested parties have declared an interest.
Seven of those are seen as serious contenders, with two emerging as the front-runners.
All the key potential buyers are based outside the UK. But suggestions from a Nigerian group that they were about to clinch a deal have been dismissed by sources close to the football club.
Ashley has appointed Keith Harris, chairman of the Seymour Pierce investment bank, to negotiate on his behalf. Harris has a wealth of
experience in major football takeovers and a high speed transfer of power on Tyneside is imminent.
The club has no debts and the freehold of all its major properties such as St James' Park.
Next year's financial budget can be delivered so the three big issues for the new owners are simple - who they want as manager, how much they're going to give him to spend and who they want to get rid of.
Caretaker boss Joe Kinnear has claimed that Kevin Keegan will be back as part of any takeover. That claim is gaining little support from the potential buyers.
Sources close to Keegan believe he wants to resolve his contractual dispute with Ashley and move on. A fifth return for the Messiah is unlikely.
