Newcastle United Shares
Speculation has mounted that Newcastle United may become the next Premier League takeover target after former chairman Sir John Hall was approached about selling his share in the club.
In a declaration to the stock market, Sir John Hall confirmed an unnamed party had expressed an interest in buying his majority stake, estimated at 28.5 per cent of the club.
Hall’s announcement followed an 18 per cent rise in Newcastle United's share price on Monday as investors contemplated the Toon could follow Manchester United as the next English Premier League club to be taken over.
Newcastle United shares are now at their highest level in over four years, subsequently valuing the club at £75.6 million, up by over £10 million from Monday morning.
Sir John revealed the stake holder approach in response to press reports that two groups of businessmen were interested in his stake.
The first consortium leading the chase for Sir John’s stake are a Malaysian-based group who are keen on developing existing plans to accommodate a casino and leisure complex at St James’ Park – the stadium where Newcastle United play their home games.
The other group are, according to the Daily Express, led by a “cash rich British entrepreneur” who wants to bring back Kevin Keegan to the club in a senior role. Sir John was an instrumental playing bringing Keegan to Newcastle in 1992 as manager; where he went on to take Newcastle into Europe and 2nd in the Premiership.
Freddy Shepherd, the Newcastle chairman and also 2nd largest stakeholder in the club, currently owns 27 per cent of all shares. It is considered that any takeover deal will need Shepherd’s blessing.
Newcastle takeover speculation comes just two months after Manchester United were taken over by US tycoon Malcolm Glazer for £790 million.
Elsewhere, Premier League team Aston Villa are also the centre of a takeover attempt by former Man City defender Ray Branson, who is now making his second attempt to buy the club after the original £30 million offer was rejected by Villa chairman Doug Ellis last year.
Date: 27.07.05
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