SA group bid for crisis-hit Newcastle
Posted: 2008-09-29 07:09

A consortium of South Africa businessmen, based in Britain, have reportedly put in a bid of R5, 2-billion for crisis-ridden English Premier League side Newcastle.

Newcastle has already been in talks with a group of Nigerian tycoons trying to put together enough funds to meet owner Mike Ashley’s 400 million pound asking price.

A report in The News of the World suggests the South Africans have put together a 350 million pound offer.

The group of British-based tycoons, who are not named, are understood to have made their fortune from rescuing and rejuvenating household brands around the world.

“We are serious about Newcastle, we believe they are an iconic institution that deserves to be run professionally,” an unnamed spokesman for the South Africans told the English newspaper.

The spokesman added that Kevin Keegan, who quit as manager this month, was the key to the group taking control, with another favourite son of the Tyneside club, Alan Shearer, also in their thoughts.

“Kevin is integral to our plans. We want Kevin to be fully committed to the team and we hope to find a role for Alan Shearer.

“We are not personalities. We like to be in the background, we need to be in the background.”

The group is confident of turning around Newcastle’s fortunes, with the spokesman saying: “The existing management structure has not worked so we’ll pay Mike Ashley what it takes to get rid of him.

“The level of expertise we have is in discovering the real problem preventing success. We want to find the root problem and turn the club around. We will give the Newcastle fans what they want.”

Ashley has appointed Joe Kinnear as an interim manager until the sale of the club goes through.

I smell Patrice Motsepe in here!

Angelheart:

I smell Patrice Motsepe in here!

Dont think so,they are london based businessman according to the reports