Omani interest in Newcastle played down by City sources

While speculation on Tyneside yesterday continued to focus on a possible Newcastle United takeover by an unknown group from Oman, City of London insiders close to the sale of the club indicated that this may not be the case.

There is believed to be an interested party but it was stressed that a deal is still some way off and that the nationality of the leading players in any buyout will remain a secret for as long as is possible in such a high-profile transaction.

The Newcastle owner, Mike Ashley, put the club back on the market a week after relegation from the Premier League at an asking price of £100m. The Sultan of Oman was immediately linked with them due to his wealth but doubt has been cast upon his involvement.

It has been suggested that the business environment today is more favourable than when the club was put on the market for the first time by Ashley last September. Then the asking price started at £300m and dropped swiftly to £180m. But although there was interest, there were no takers. Now, however, there is confidence that a buyer can be found over the summer.

Alan Shearer, meanwhile, awaits a response from the banks to Ashley's request for the continuation of a £40m working capital facility. That would enable Ashley to appoint Shearer on a permanent basis, if he wants to.

Shearer could be given a long-term contract with the necessary clauses in the event of a takeover. That would give Newcastle some stability and Shearer could start working on lifting the club back into the Premier League following their relegation. He could also focus on trying to retain some of the players he sees as being key to the club's future.

Have you tried new the Independent Digital Edition apps?
Caption competition
Caption competition
  • Get to the point
Latest stories from i100
Have you tried new the Independent Digital Edition apps?

Bleacher Report

Daily Quiz
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

Career Services

Day In a Page

General Election 2015: The masterminds behind the scenes

The masterminds behind the election

How do you get your party leader to embrace a message and then stick to it? By employing these people
Machine Gun America: The amusement park where teenagers go to shoot a huge range of automatic weapons

Machine Gun America

The amusement park where teenagers go to shoot a huge range of automatic weapons
The ethics of pet food: Why are we are so selective in how we show animals our love?

The ethics of pet food

Why are we are so selective in how we show animals our love?
How Tansy Davies turned 9/11 into her opera 'Between Worlds'

How a composer turned 9/11 into her opera 'Between Worlds'

Tansy Davies makes her operatic debut with a work about the attack on the Twin Towers. Despite the topic, she says it is a life-affirming piece
11 best bedside tables

11 best bedside tables

It could be the first thing you see in the morning, so make it work for you. We find night stands, tables and cabinets to wake up to
Italy vs England player ratings: Did Andros Townsend's goal see him beat Harry Kane and Wayne Rooney to top marks?

Italy vs England player ratings

Did Townsend's goal see him beat Kane and Rooney to top marks?
Danny Higginbotham: An underdog's tale of making the most of it

An underdog's tale of making the most of it

Danny Higginbotham on being let go by Manchester United, annoying Gordon Strachan, utilising his talents to the full at Stoke and plunging into the world of analysis
Audley Harrison's abusers forget the debt he's due, but Errol Christie will always remember what he owes the police

Steve Bunce: Inside Boxing

Audley Harrison's abusers forget the debt he's due, but Errol Christie will always remember what he owes the police
No postcode? No vote

Floating voters

How living on a houseboat meant I didn't officially 'exist'
Louis Theroux's affable Englishman routine begins to wear thin

By Reason of Insanity

Louis Theroux's affable Englishman routine begins to wear thin
Power dressing is back – but no shoulderpads!

Power dressing is back

But banish all thoughts of Eighties shoulderpads
Spanish stone-age cave paintings 'under threat' after being re-opened to the public

Spanish stone-age cave paintings in Altamira 'under threat'

Caves were re-opened to the public
'I was the bookies’ favourite to be first to leave the Cabinet'

Vince Cable interview

'I was the bookies’ favourite to be first to leave the Cabinet'
Election 2015: How many of the Government's coalition agreement promises have been kept?

Promises, promises

But how many coalition agreement pledges have been kept?
The Gaza fisherman who built his own reef - and was shot dead there by an Israeli gunboat

The death of a Gaza fisherman

He built his own reef, and was fatally shot there by an Israeli gunboat