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Newcastle United Set To Be Sold If Relegated - Report
The north east club are reportedly set to be ditched by their owners...
| Bet: | Returns: | Newcastle United £15.50 | Draw £36.00 | Wolves £55.00 |
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| Bet: | Returns: | Newcastle United £16.00 | Draw £37.50 | Wolves £60.00 |
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| Bet: | Returns: | Newcastle United £15.71 | Draw £38.00 | Wolves £60.00 |
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| Bet: | Returns: | Newcastle United £16.20 | Draw £40.00 | Wolves £55.00 |
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| Bet: | Returns: | Newcastle United £16.30 | Draw £36.00 | Wolves £48.00 |
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Apr 26, 2009 2:49:38 PM
Newcastle United owner Mike Ashley has set an asking price of just £120 million for the club if they are relegated from the Premier League at the end of the season, according to News of the World.
The sportswear tycoon has spent a total of £280 million on the club in the last two seasons, but is said to be happy to cut his losses and sell the club at a reduced price in the summer if they are relegated to the Championship.
Before the recession, there were said to be up to 25 separate groups interested in buying the club when Ashley was looking to sell earlier in the season, but that has now been narrowed down to just two.
The owner now faces a reported £140 million loss on the club, and a personal wealth decrease of nearly £840m since the global recession.
Experts have predicted that if the club are relegated, they will lose approximately £35m per season, and their huge wage bill is reportedly set for a massive shake up.
Last year, the club's revenue was £99.4m, and £62.6m was being spent on player wages.
Relegation would mean that the club's biggest stars would more than likely leave the club, and with 10 players in the team on contracts worth over £50,000-a-week, selling them may become necessary as a way of cutting costs.
The club's next match is the visit of Portsmouth to St. James' Park on Monday night, where they will be hoping for a win against their fellow relegation strugglers.
Nick Turner, Goal.com
The sportswear tycoon has spent a total of £280 million on the club in the last two seasons, but is said to be happy to cut his losses and sell the club at a reduced price in the summer if they are relegated to the Championship.
Before the recession, there were said to be up to 25 separate groups interested in buying the club when Ashley was looking to sell earlier in the season, but that has now been narrowed down to just two.
The owner now faces a reported £140 million loss on the club, and a personal wealth decrease of nearly £840m since the global recession.
Experts have predicted that if the club are relegated, they will lose approximately £35m per season, and their huge wage bill is reportedly set for a massive shake up.
Last year, the club's revenue was £99.4m, and £62.6m was being spent on player wages.
Relegation would mean that the club's biggest stars would more than likely leave the club, and with 10 players in the team on contracts worth over £50,000-a-week, selling them may become necessary as a way of cutting costs.
The club's next match is the visit of Portsmouth to St. James' Park on Monday night, where they will be hoping for a win against their fellow relegation strugglers.
Nick Turner, Goal.com
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