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Page last updated at 16:58 GMT, Monday, 6 July 2009 17:58 UK

Bids meet Newcastle asking price

Mike Ashley
Ashley admits to having made "terrible decisions" during his tenure

Newcastle United managing director Derek Llambias has claimed that at least two acceptable offers have been received for the club.

Owner Mike Ashley, who spent £134.4m to assume control in May 2007, announced in June that he would entertain bids of £100m for the Championship side.

"There have been more than two bids at £100m," said Llambias.

Amongst those to have previously enquired are Singapore-based Profitable Group and ex-chairman Freddie Shepherd.

A Malaysian consortium are also believed to have entered the running and reportedly inspected St James' Park and the club's training ground last week.

All bidders have to sign a confidentiality agreement before gaining access to the club's accounts.

Mrs Miggins Pie Shop Patron!

Newcastle are keen that a new hierarchy is in place as soon as possible after hopes that a deal would be done by the end of June failed to materialise.

"We are giving interested parties all the help that they need," added Llambias.

The players reported back for pre-season training on the 1 July, although the manager's position remains vacant after Alan Shearer's short-term contract expired.

Any deal of around £100m would represent a significant loss for billionaire Ashley who is estimated to have put around £244m into the club during his time in charge.

When he initially put Newcastle up for sale last September, he hoped to get about £300m. But relegation from the Premier League saw the asking price slashed.

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see also
Shepherd in 60m Newcastle offer
29 Jun 09 |  Newcastle
Group confirms Newcastle interest
11 Jun 09 |  Newcastle
Newcastle given 100m price tag
08 Jun 09 |  Newcastle
Ashley wants quick Newcastle sale
31 May 09 |  Newcastle
Newcastle's season of misery
24 May 09 |  Newcastle
Shearer confirmed as Magpies boss
01 Apr 09 |  Newcastle
Ashley calls off Newcastle sale
28 Dec 08 |  Newcastle
Mike Ashley statement
14 Sep 08 |  Newcastle
Ashley puts Newcastle up for sale
14 Sep 08 |  Newcastle
Magpies fans protest over Ashley
13 Sep 08 |  Tyne

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