Return of MICHAEL VICK.. 8/27/09
Michael James Wallace Ashley is an Englishmillionaire retail entrepreneur, in the sporting goods market. He is also the owner of Newcastle United after paying around £135 million to buy the club.
Mike Ashley set to remain in charge of Newcastle for another season
Mike Ashley is poised to take Newcastle United off the market and stay in charge for another year.
Prospective owner Barry Moat is struggling to raise the £100 million to buy the club, meaning Ashley is set to retain control and appoint a long term boss.
Tyneside businessman Moat is having to borrow the majority of the asking price from banks and a large slice from Ashley, but has to raise around £20 million of his own cash which is a problem.
It is believed that Moat has an agreement with Barclays to finance the club’s pds 39 million overdraft, as long as it is quickly reduced to around pds 10 million, but can’t meet Ashley’s price.
Prospective owner Barry Moat is struggling to raise the £100 million to buy the club, meaning Ashley is set to retain control and appoint a long term boss.
Tyneside businessman Moat is having to borrow the majority of the asking price from banks and a large slice from Ashley, but has to raise around £20 million of his own cash which is a problem.
It is believed that Moat has an agreement with Barclays to finance the club’s pds 39 million overdraft, as long as it is quickly reduced to around pds 10 million, but can’t meet Ashley’s price.