Another suitor for Newcastle United

Posted on 20th December 2006

Newcastle UnitedNewcastle United have today confirmed that a consortium backed by US hedge fund Polygon are one of the suitors interested in the North East Club. Newcastle United have been the subject of sustained takeover speculation for a long time with the Belgravia Group completing due diligence, and chairman Freddy Shepherd called on all interested parties to 'put up or shut up' at the club's Annual General Meeting on Tuesday.

Now the Premiership club have confirmed that St James' Park Group Limited – a consortium backed by Polygon – have approached them regarding a potential takeover. However Newcastle have moved to underline that they have not accepted any offers from interested parties.

"The board wish to reiterate that they have not accepted any proposals for the company from any party, nor is any due diligence being conducted on the company," read a statement from Newcastle United PLC. "Therefore there can be no certainty that an offer will be made, nor as to the terms on which any offer would be made."

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