Former Newcastle United owner Mike Ashley involved in fresh takeover bid

Newcastle United

The former owner has been out of football since he sold the Magpies to a consortium led by the PIF last October.

Former Newcastle United owner Mike Ashley is reportedly set to be confirmed as the preferred bidder for the Coventry Building Society Arena.

The home owners of Championship Coventry City and Premiership rugby club Wasps officially applied to enter administration on Tuesday, with the BBC reporting that Arena Coventry Ltd (ACL), Arena Coventry (2006) Ltd and IEC Experience Ltd “expect that the orders of the administration will be made in the coming weeks”.

A spokesman for Arena Coventry Ltd said: “The companies and the proposed administrators of FRP Advisory have undertaken an accelerated sales process to sell the business and assets of the companies and have identified a preferred bidder. Arena will continue trading as normal. We would like to thank all the working groups involved in helping the companies reach this stage and are delighted that the doors remain open to this iconic venue.”

Former Sky Sports broadcaster Richard Keys took to social media earlier this week to suggest that Ashley would be named as the preferred bidder for the venue within 24-48 hours, but also revealed that the ‘former Magpies owner “wasn’t interested” in buying Coventry City or Wasps as a part. of the deal

Sky Blues owners Sisu are said to be one of “four credible parties” who have shown interest in buying the CBS Arena after they were forced to spend two spells playing elsewhere after hosting matches” at home’ to Northampton Town and Birmingham City. rent disputes

However, Ashley now appears to have stolen a march as he moves closer to ‘preferred offer’ status, although an official bid has yet to be submitted.

Source: Former Newcastle United owner Mike Ashley involved in fresh takeover bid

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