Barry Moat Given Extended Deadline for Takeover Deal

Potential Newcastle United owner Barry Moat has been given an extended deadline by current Chairman Mike Ashley, as the Tyneside businessmen is in talks with Barclays bank to secure enough funding.

A club statement from the official site reads as follows:

NEWCASTLE United Football Club confirms that it has extended its deadline to Barry Moat to table an offer for the Club.

The extension has been granted in order to allow Barry Moat and his advisors to conclude funding arrangements with Barclays, current bankers, for the continuation of last season’s £39m facility.

This would allow a formal offer to be tabled.

There’s some interesting verbage in the above statement with the key word being concluded. That term appears to indicate that talks with the club are at an advanced stage and all that needs to be done to complete the takeover, would be the approval of the bank.

We were all waking up this morning expecting either good or bad news, but at least there would have been some resolution. As things stand, the powers that be at NUFC are still playing the waiting game with the fans. There could have been far worse news this morning for sure, but unless there’s positive news within the next 48 hours, I seriously fear that it will be too late for Newcastle United to act in the transfer window.

One things for sure, being a Newcastle fan is never boring.