From The Times, Thursday:
Seymour Pierce, the investment bank charged with handing the sale of Newcastle United, will recommend to Mike Ashley, the club's owner, that he accepts a bid from a consortium led by Barry Moat, a prominent Tyneside businessman.
Keith Harris, Seymour Pierce's executive chairman, has been involved in painstaking negotiations with a group fronted by Moat, who is a longstanding box-holder at St James' Park. Moat, who may have backing from the United States, is now regarded as Harris's preferred bidder and at some time over the next 48 hours, Ashley will be asked to accept a formal offer for Newcastle.
As The Times reported yesterday, Ashley has issued an ultimatum of Friday for bids to be made. Since putting the club on the market at the end of last season, when Newcastle were relegated from the Barclays Premier League, he has been demanding a price of £100m.
If Moat's bid is accepted, it will represent a positive development for Alan Shearer, who remains eager to be appointed Newcastle's manager and is close to Moat, who the chairman of the former England striker's testimonial committee. If Ashley decides to reject the offer, the sportswear retailer intends to retain possession of the club for at least another season and is prepared to pump in a further £40m of his own money to cover wages and other costs.