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Ashley receives offer for Newcastle United

Newcastle United owner Mike Ashley has received an offer from businessman Barry Moat, The Times reports.

The offer is estimated to be just under Ashley’s £100 million asking price for the club. The owner must now decide whether or not to accept the offer, or wait for Newcastle to get back into the Barclays Premier League as promotion from the Championship would nearly double the club’s value.

The investment bank handling the sale, Seymour Peirce, prefers Moat’s bid, and the Premier League has promised him that they would provide working capital to run Newcastle.

It is reported that Moat is also interested in bringing on Alan Shearer as club manager once takeover is complete despite the club's impressive start under Chris Houghton.
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