Oct 16, 2017

Mike Ashley puts Newcastle United up for sale

Sports Direct tycoon Mike Ashley is seeking a buyer for Newcastle United football club, weeks after the billionaire conceded he could not compete for expensive players with the wealthy backers of England's leading teams. Confirming the sale process on Monday, the club, said Mr Ashley would "Give interested parties the opportunity of deferring substantial payments" to make it easier for a new owner to underwrite a "Meaningful investment in the club, including in its playing squad". Rew Henderson, a lawyer at Dentons who is working on the sale, told Sky Sports on Monday that Mr Ashley hoped to find a buyer by Christmas. Mr Ashley has once before tried to sell the northern club he bought in 2007, shortly after floating his Sports Direct retail empire on the London Stock Exchange. "The early days at Newcastle were some of the best, fun days any male adult can have," Mr Ashley said this year.

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