Friday, 12 September 2008

Reliance Group Rule Out Newcastle Takeover

The Reliance Group have ruled out any move to buy Premier League club Newcastle United, a spokesman for Anil Ambani, who is chairman of the Reliance Group has confirmed.

The spokesman did admit there had been interest in taking over from Mike Ashley at St James’ Park, but revealed that the deal will not be pursued due to ‘turbulent conditions’ at the North East side. This has come after previous reports linking Ambani with the Magpies had been laughed off.

Ashley is understood to be willing to sell Newcastle after he faced an angry backlash from the Toon army over the departure of manager Kevin Keegan last week, who quit the club for a second time after a difference of opinions on transfer policy with members of the Magpies board.

The spokesman for the Reliance Group told the Newcastle Evening Chronicle: “We are no longer interested in buying Newcastle because of the turbulent conditions which currently exist there and because we have been unable to have satisfying talks with anyone from the club.”

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