Archive for tag: £80m for Newcastle United.

Ashley will take Moat’s £80m, but only if it is paid upfront.

October 19th, 2009 | 33 Comments |

"It's my money so I'll have the final say on transfers"
"It's my money so I'll have the final say on transfers"
Mike Ashley is now prepared to take £80m for Newcastle United but will there be any takers?

Amidst another petulant stab at the fans in yesterday’s Times, Mike Ashley announced:

Barry Moat has been driving me mad for two years. If he wants to buy the club, he’s got a one-off opportunity to come up with the cash – £80m upfront.”

So one question is: can he or anyone else find the money? Another might be: is Newcastle United worth £80m?

The Times speculates that Barry Moat has agreed to pay the £80m that Ashley’s asking, but not ‘upfront’. Apparently Moat wants to pay £40m now and £40m at the end of the season. It’s anyone’s guess as to why Barry Moat wants to do things like this. Perhaps he has only been guaranteed the second £40m from his backers if Newcastle gets promoted, although that would be a huge risk for Barry Moat to take because if we didn’t manage promotion and the funds didn’t materialise then Moat is stuck with an outstanding £40m debt that, it seems, he won’t be able to pay. (more…)