I'll sell Toon for £420m

MIKE ASHLEY is willing to sell Newcastle for £420million. The Toon supremo named his price last month when a New York finance company made an approach to buy the club. Ashley told private equity investors InterMedia Partners — based in the swanky Chrysler Building — he wanted £420m to seal the deal. The Americans’ interest was so serious, owner Ashley permitted them to see all of Newcastle’s financial documents, accounts and records. And both sides were forced to sign gagging orders, banning them from ever disclosing details of the talks. An insider confirmed: “The Americans specialise in investing in sport and wanted to break into the soccer market in Europe. They thought Newcastle would be the ideal starting place for them.” Speculation has been rife in City markets for the past six months that mega-bucks Ashley has been on... [read full story]