Mike Ashley's price too high for bidders
MIKE Ashley will have to lower his £100m asking price to achieve the quick sale of Newcastle United he told fans he was looking for in May.
Legal representatives and accountants of the various consortia interested in the recently-relegated club have been poring over the Magpies' books for the last couple of weeks before deciding whether to lodge official bids. But the biggest concern is a belief that the club is overvalued.
Relegation from the Premier League brought a massive drop in revenue, principally from television companies, and the "parachute payment" given to relegated clubs to soften the blow makes up only a fraction of the shortfall.
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