Reliance Communications chairman and managing director Anil Ambani may have issued a statement sometimes back that he was not interested in buying English club Newcastle United. But the speculation simply refuses to die.
According to the Times, it is becoming increasingly likely that the telecoms giant will seek formal talks with the Premiership club’s board with a view to a £220 million buyout on Monday.
Ambani was first linked with the takeover last month but it seemed he was dissuaded by the £260 million tag and the fact that the Tyneside club had failed to strengthen the squad. But following the club’s latest tribulations, the exit of Geordie favourite, manager Kevin Keegan, Reliance believes the time is ripe to make a move.
Aware of the vitriol aimed at Newcastle owner Mike Ashley by fans who feel that Keegan is an innocent victim of mismanagement, the Indians are ready to move fast with an offer that more realistically matches their assessment of the club’s value, the Times reports.
This could turn out to be a popular move because there are suggestions that Ambani has identified Keegan as the “only credible managerial candidate capable of moving the club forward.”
The local media had also reported that Keegan could also be interested in coming back if the buyout takes place. According to the Newcastle Evening Chronicle, Kevin Keegan could be back as manager, if Ashley sells out to any of the consortiums who want to buy the club.
The writer said he had spoken to Keegan late on Friday and he was “definitely upbeat about his future plans.” The paper added that another former England boss, Terry Venables, was a name in the frame to replace Keegan.
The Times added that Ambani is ready to hand Keegan, if he returns for a third term as manager at St James Park, “at least £100m to strengthen the squad in the New Year.’’
Keegan had quit the Premier League just eight months into his second spell in charge on Thursday, blasting the management structure which retail tycoon Ashley has put in place stripping the coach of responsibility for matters such as transfer policy.
Another Newcastle favourite Alan Shearer, whom Keegan brought 1996, meanwhile says he is not interested in a coaching role at the club under the current set-up.
Source: Economic Times