London bank to handle Newcastle mooted sale

September 22, 2008

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Managerless Newcastle are bringing in a London-based investment bank to handle owner Mike Ashley's proposed sale of the ailing English Premiership club, media reports said on Monday.

Sports retailer Ashley wants to sell Newcastle after becoming the focus of fan vitriol sparked by the resignation earlier this month of popular former player Kevin Keegan as manager.

According to the BBC, Newcastle have appointed London-based investment bank Seymour Pierce to handle the sale of the club, mired in the relegation zone and currently under the temporary stewardship of Chris Hughton.

The BBC noted that the chairman of Seymour Pierce is Keith Harris, who had a role in the sale of Chelsea to Roman Abramovich in 2003.

A Newcastle statement said: “The board of Newcastle United can confirm it has appointed the London-based investment bank Seymour Pierce to act on the potential sale of the club.”

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