Nigerians to buy Newcastle United

  1. Posted on Friday 26 September 2008 - 11:47
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    Kent Mensah, AfricaNews reporter in Accra, Ghana
    Four Nigerian business magnates are close to buy English Premier League side Newcastle United. The West Africans said if the deal goes through they would re-appoint Kevin Keegan as manager, the Reuters news agency reported on Friday. The club's owner, Ashley, put the club up for sale two weeks ago.
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    Newcastle United have fallen foul of the fans after Keegan resigned saying he did not have full control over the buying and selling of players, the news agency said. Chris Nathaniel, a London-based businessman who runs football and entertainment consultancy NVA Management, disclosed the Nigerian entrepreneurs’ intention.

    "We're at the stage now where our end are doing the relevant security checks on the individuals who have the money," Nathaniel, who is coordinating the bid, said. "We have a lawyer here who is doing those checks before finally submitting a bid to Newcastle."

    Nigerian media reports have said the consortium - whose members remain a closely guarded secret - have come up with 350 million pounds so far but want to find an additional 100-150 million to secure the deal.

    Nathaniel said that until the British lawyers had finalised their checks and drawn up the paperwork, it was difficult to say exactly how much money had been put forward. "We don't know is the honest answer. We're not going to know that until it's lodged with the lawyers here," he said.

    Nathaniel added: "I've been told the money is there in Nigeria but I need to see evidence of it here before we can present it to the club."

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