Updated : Anil Ambani Looks To Buy-out Newcastle United: Report !

[Honest 836]

Anil Ambani looks to buy-out Newcastle United: Report

3 Aug 2008, 1617 hrs IST, PTI

LONDON: Anil Ambani-led Reliance Communications is looking for a possible takeover of Premier League club Newcastle United for an estimated 260 million pounds, a media report said.

"Newcastle United owner Mike Ashley is in talks with Anil Ambani, the sixth richest man in the world and head of Reliance Communications, India's biggest telecom company," the News of the World reported on Sunday.

Newcastle is in the midst of a massive 260-million-pound takeover battle between Asia's two richest companies Reliance Communications and Singapore-based global investment company Profitable Group, it said.

"Singapore-based global investment company Profitable Group, which includes former England star Steve McMahon as a director, also want to buy Ashley out," the newspaper added.

Mike Ashley is willing to sell the club because of financial reasons. "The Newcastle chief admitted last month he is anxious to find investors to ease the financial burden," the British newspaper said.

Both Reliance and Profitable are ready to pay 260 million pounds to own the Magpies outright and are determined to spend more than 100 million pound on transfers to bolster the team, the report added.

Billionaire Ashley had bought Newcastle in July, 2007, for 130 million pounds and immediately pumped in another 80 million pounds to wipe out the debts.

"Ashley, however, was not able to spend anywhere near as lavishly as most of the Newcastle United players demanded," the report said, adding "he has made it clear he will not sanction the kind of huge signings which might help challenge for a Champions League place".

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Newcastle's owner denies seeking Indian takeaway

The Guardian, Monday August 4 2008

There is fresh speculation surrounding the future ownership of Newcastle United, with the Indian billionaire Anil Ambani reported to have been in discussions "for several weeks" with the current owner, Mike Ashley, over the sale of the club for between £260m and £300m.

Newcastle denied the report had any foundation, as they have with similar ones recently, but wittingly or not it was Ashley who lent credence to such stories when speaking of wanting new investment at the announcement of interim results of his core business, Sports Direct.

On 10 July Ashley stated that Newcastle was not for "outright" sale but said that he was "keen to have partners – if we had some multibillionaire that wanted a stake in Newcastle, it will help."

Reliance denies talks with Newcastle United

Mon Aug 4, 2008 3:31am EDT

Reliance Communications, India's No. 2 mobile operator, on Monday denied reports that it was in talks with English Premier League soccer club Newcastle United.

Media reports in the U.K. said the club's owner Mike Ashley was in talks with Reliance Communications Chairman Anil Ambani about a 260 million-pound ($513.5 million) takeover by the Indian billionaire.

"The news report is completely false and baseless. There are no such plans," Reliance Communications said in a statement.

[Honest 836]

'Anil Ambani to make new offer for Newcastle'

7 Sep, 2008, 1615 hrs IST,

TIMES NEWS NETWORK & AGENCIES

NEW DELHI: Reliance Communications chairman and managing director Anil Ambani may have issued a statement sometimes back that he was not interested in buying English club Newcastle United. But the speculation simply refuses to die.

According to the Times, it is becoming increasingly likely that the telecoms giant will seek formal talks with the Premiership club’s board with a view to a £220 million buyout on Monday.

Ambani was first linked with the takeover last month but it seemed he was dissuaded by the £260 million tag and the fact that the Tyneside club had failed to strengthen the squad. But following the club’s latest tribulations, the exit of Geordie favourite, manager Kevin Keegan, Reliance believes the time is ripe to make a move.

Aware of the vitriol aimed at Newcastle owner Mike Ashley 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, the Times reports.

This could turn out to be a popular move because there are suggestions that Ambani has identified Keegan as the “only credible managerial candidate capable of moving the club forward.”

The local media had also reported that Keegan could also be interested in coming back if the buyout takes place. According to the Newcastle Evening Chronicle, Kevin Keegan could be back as manager, if Ashley sells out to any of the consortiums who want to buy the club.

The writer said he had spoken to Keegan late on Friday and he was "definitely upbeat about his future plans." The paper added that another former England boss, Terry Venables, was a name in the frame to replace Keegan.

The Times added that Ambani is ready to hand Keegan, if he returns for a third term as manager at St James Park, “at least £100m to strengthen the squad in the New Year.’’

Keegan had quit the Premier League just eight months into his second spell in charge on Thursday, blasting the management structure which retail tycoon Ashley has put in place stripping the coach of responsibility for matters such as transfer policy.

Another Newcastle favourite Alan Shearer, whom Keegan brought 1996, meanwhile says he is not interested in a coaching role at the club under the current set-up.