Ashley edges closer to Magpies takeover
A job Sam Allardyce has described as a “massive challenge” may soon be made a little easier after reclusive billionaire Mike Ashley’s projected takeover moved closer to completion.
Ashley surprised Newcastle officials by attending St James’ Park in person yesterday to discuss the finer points of his bid to increase the 41.6% shareholding he purchased from John Hall last week.
Ashley is believed to have been negotiating to increase his shareholding to 54%, effectively giving him control of the club. Financial Dynamics, the public relations company handling Ashley's interest, refused to comment.
The club issued a short statement to the London Stock Exchange which read: “Further to the announcement by Newcastle United plc. On 25 May 2007, the board of Newcastle United announces that there was a meeting with Mike Ashley and his team earlier today at which there was a useful and constructive discussion.”
Elsewhere there was worse news for Ashley as Dave Richardson the chairman of Sport Direct International – the sports retailer founded by Ashley – resigned after only three months in the job.
The news saw shares in the company slump 4.6% to 205p per share – 32% below its flotation price.
Meanwhile Allardyce said he is looking forward to getting out of his comfort zone when he returns from a short holiday in France to take charge at the club for the first time on Monday.
Allardyce told the Evening Chronicle: “If a manager can be comfortable, I was probably in the most comfortable job in the game at Bolton.
“Now I’ve made that big decision to challenge myself, and hopefully I can live up to the challenge at Newcastle United with the right support from the fans and everybody at the club.”
Allardyce’s first task may be to welcome Australian striker Mark Viduka into his squad. Viduka is believed to have ended new contract negotiations with Middlesbrough and is interested in staying in the north east.
