New Delhi: British media reports say that Anil Ambani's Reliance Communications is in talks to buy the EPL club Newcastle United.
Reportedly, Reliance is fighting it out with Singapore's Profitable Group to ink a £260 million deal for the Premiership club. Profitable is an investment company, which is headed by former England player, Steve McMahon.
The present club owner, billionaire Mike Ashley is reportedly speaking to both corporations for a possible buy-out for his financially beleagured club.
Ashley bought Newcastle from Freddy Shepherd last year for £137 million. Ashley had quoted £420 million when approached by New York finance firm InterMedia Partners, who were interested in buying the team.
An earlier rumour had given the impression that Ashley was considering selling the club to to the family of al-Qaeda chief Osama Bin Laden.
The rumour, reported in an English tabloid, were met with shock, dismay and disgust by fans of the club.
The Bin Ladens, who own a Saudi Arabian building firm, planned to hand over £300 million for the Premier League giants to owner Mike Ashley, according to the English tabloid.
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