Newcastle have allegedly been on the market for potential new owners for a while now, and “remains for sale”, according to the Chronicle, but have failed to attract serious bidders.
The valuation of the club at an alleged price in excess of £300 million is thought to be the major stumbling block, with potential interested parties likely to have to invest much more to transform the club into an elite top-tier side.
While Mike Ashley may think his asking price is fair, and an attractive proposition for wealthy businessmen, a hundred or so miles down the road, Sheffield United are suggesting otherwise.
The Blades are in the midst of a takeover by a Saudi Prince, with the courts being involved in a dispute with the potential new owner, existing co-owner, Kevin McCabe.
During the legal hearing, the judge valued Sheffield United – a Premier League newcomer who have actually made a better start than Newcastle – and all of its other club assets, at £80m to £120m.
Although Newcastle can legitimately claim to be a bigger club that the Yorkshire side, it puts into perspective the ludicrously high amount Ashley is demanding.
And as if that was not proof enough, there is actually a second interested party – a pair of American businessmen – waiting in the wings, should the Saudi Prince opt to sell.
Yet Newcastle remain in the clutches of the current regime, who cannot be considered serious about selling, while he asks for such an over-the-top amount for the club.
Asking price suggests Ashley not seriously trying to sell Newcastle
If he had serious intent to sell, he would lower his asking price to a more realistic and reasonable amount.
I am no businessman, and can just about budget month to month for my household, but I do know a bargain from a rip-off.
At more than £300m, Newcastle would appear to be in the latter category, where an amount of somewhere between £220m and £270m would seem to represent value for money.
It is no coincidence that other clubs are being bought and sold around the world, while Newcastle seemingly continue to keep hammering metaphoric For Sale signs to the St James’ Park walls.
As things stand, it seems we could be at the mercy of Mike Ashley and his sports company advertising for a long while yet, and that is not something I enjoy writing.
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