Newcastle United owner seeks Dubai bids for club

Reports suggest Mike Ashley hoped that either Zabeel Investments or the Dubai Investment Group would take the club off his hands.

The owner of English football side Newcastle United is attempting to sell the club to investors in Dubai. Mike Ashley, who made his fortune running a sporting goods empire, arrived in the emirate this week and it was reported that he is seeking US$850m (Dh3.12bn). Reports from the UK suggested that Mr Ashley hoped that either Zabeel Investments or the Dubai Investment Group would take the club off his hands.

However, as of last night, neither had confirmed that it had been approached. Mr Ashley paid US$238m for Newcastle United and says he has invested almost $200m more, although recent fan reaction to how the club was run led to protests and an admission from the businessman that he would have to find a buyer. This week, in a statement issued to the media, he said "this will not be a fire sale", although it is thought that he would have to reduce his asking price if he wanted to negotiate with potential buyers in Dubai.

"Mike has got away from the UK to clear his head and look at what he can do next," said a source close to Mr Ashley's camp. "He has had several meetings in Dubai and is waiting to see what the reaction will be." It was reported yesterday that Dubai International Capital (DIC), which was close to securing a takeover of Liverpool Football Club earlier this year, had signalled no interest in Newcastle United.

The private-equity arm of the Dubai Government said that it had no intention of either resuming interest in the Anfield Club or investing in any other football club. Newcastle United has had a torrid time recently, reaching a climax on Sept 4 when manager Kevin Keegan announced his resignation after just eight months in charge at the St James' Park ground. It was the 57-year-old's second stint at the club, where he was known by fanatical fans as "The Messiah".

Angry supporters responded by calling for Mr Ashley and Dennis Wise, the executive director and a former football player, to quit. * The National