South Africans table £300 million for Newcastle and admit they want Keegan back

The South African consortium interested in buying Newcastle United from Mike Ashley have today tabled a bid of £300 million for the club. Current owner, Ashley has also received an offer from a Nigerian consortium for the club and as much as six other parties are also said to be interested in purchasing the club.

Since lowering his asking price earlier this week to £300 million, Ashley now seems to be getting a lot more interest but how much will he eventually let the club go for. The South African consortium is made up of five people who claim they are keen to bring Kevin Keegan back for a third spell at the club and are willing to offer him a 5% stake in the club as an incentive.

I think it would be fantastic if this deal went through. Obviously we don't know a great deal about the consortium but already they have made their intentions clear, they want the King back at St James' Park and that would be enough for most Magpies fans. It is clear that the Newcastle squad is in serious need of investment and maybe now they may able to get this from the South Africans.