Are Newcastle Worth £483 million?

By: Daryl | September 18th, 2008

I don’t know much about selling. But I’m pretty sure that setting your price too high and then drinking cocktails instead of meeting with potential Middle Eastern buyers isn’t the way to go. So it doesn’t look like Mike Ashley will be selling Newcastle anytime soon.

Apparently Ashley and his entourage (Dennis Wise, Derek Llambias and Johnny Drama) were in Dubai yesterday to meet with representatives of Sheikh Mohammed. Ashley wanted a ridiculous £483 million for Newcastle, Sheikh Mohammed’s offer was a more sensible £200 million.

Ashley felt the offer was an insult, and so rather than attend an 11pm dinner meeting in Mina A’Salam Ramadan Tent, in the Madinat Jumeirah Hotel, Ashley chose “instead to spend the evening drinking Mojito cocktails at a Dubai beach bar.”

Ashley paid £134 million to take control of Newcastle and, as he’s let Newcastle fans know, he’s spent many more millions trying to take care of the club’s massive debts. But even I know that with the current state of affairs at Newcastle, Ashley can’t expect to sell for such a big profit. Especially when the club is basically going to be a money pit for the new owners.

So this seems to leave Newcastle and Mike Ashley stuck with each other for now.

But don’t worry Newcastle fans, help is on the way. David O’Leary has been linked with the vacant manager’s job. After spending Leeds Utd into the poorhouse, maybe O’Leary can double up as Ashley’s new financial advisor?

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Category: English Premier League

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Luisao

Looks to me like Newcastle Utd is in some deep shit, or is that diarrhea?
SKIN D

everyhere we go, people want to know,
who we are !
shall we tell them
who we are
we are the mags,we the mags ,we are we are we are the mags!!!!!!!
SKIN D

I am a geordie ,it is the oldest and most richest identity in england,contrary to what other idiots in england might say.
geordies are founding members of what went on to become england,we are the centre of angle identity which is northumberland.
we are a proud people ,who will not suffer fools lightly.
unlike these offspring of france ie londoners or cockney,s check it,s in their genes.
come to our land to pillage our football club.
we have a right to protest against the scum which is mike ashley ,and in the end the geordies will preveil.
so howay aal ye bonny lads an lasses from the toon stand tigitha an fight aal these cloons an git thim oot i wor ken.
SwissJan

What a shame for such a great club to end up like this. I'd rather have a weaker British or European-owned Newcastle then a Chelsea-style team of all-stars.

COME ON MAGPIES!
schaafito

I'll take it Mike Ashley. Do you take Visa ?
Rob

Well they aren't going to get a manager untill they sort out the behind the scenes stuff, and its a big big risk for someone to take.
j

I don't think Newcastle fans realize they've actually made things considerably worse now. To find a replacement now will require someone who wants back in the coaching world and is also aware they likely could be gone within a year. Since the fan protests I don't know of a single coach who would want to walk into this firestorm.
James

I bet it'll go for close to £300 mil
Ibracadabra

Ashley chose to "instead spend the evening drinking at a bar..." instead of negotiating. Incredible. Does this guy have any sense of respect? Let's hope that at least Turtle, E, and Vince were at the bar with him, then perhaps his actions could be excused...