Barry Moat Launches Formal Bid for Newcastle United

Both the Daily Mirror and the Times are reporting that Barry Moat has launched a formal takeover bid for Newcastle United. Moat is said to have significant financial muscle from American investors and has received guarantees from Barclays that he will be given working capital to run the club.

The offer is said to be a small amount less than the £100 million Mike Ashley is asking for Newcastle, and the Toon chairman now has to make a decision – sell up and leave, or dig his feet in until Newcastle get promoted.

We don’t have a game for another two weeks. By that time we could well be seeing Alan Shearer in the dugout and a new owner in the director’s box. Here’s hoping.

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