Malaysia’s T. Ananda Krishnan To Buy Newcastle United Football Club

According to the Sun (UK), billionaire, Ananda Krishnan is closing in on a deal to end Mike Ashley’s nightmare two-year Toon reign – and hopes to make an announcement early next week. The £95million deal for the club represents loose change to the 71-year-old, who is South East Asia’s third-richest man worth £4.5billion.

If the deal goes through as expected next week, the Maxis owner will be the second man form South East Asia after Thaksin Shinawatra (Manchester City) to own an English football club. Newcastle United recently failed to maintain their Premier League status and will be playing in the Championship League in the upcoming season. Expectations are always high at St. James Park and fans will expect that the club to go straight back to the Premier League next season. Ananda Krishan will surely take note of this and hope that he can pleased the fans more than Mike Ashley did when he was in-charge at Newcastle.
A RECLUSIVE Malaysian billionaire has jumped to the head of the queue to buy Newcastle.

Media mogul Ananda Krishnan is closing in on a deal to end Mike Ashley's nightmare two-year Toon reign - and hopes to make an announcement early next week.

The £95million deal for the club represents loose change to the 71-year-old, who is South East Asia's third-richest man worth £4.5billion.

Other consortia remain in the running to buy the crisis club.

But after making the first significant move in the drawn-out sale, Krishnan is the favourite to take control after meeting Ashley's drastically-reduced asking price - almost £40m less than the sportswear tycoon paid in 2007.

The owner-in-waiting is believed to favour Alan Shearer to be the club's manager.

Like Ashley, Krishnan has kept a low profile as he has built up a powerful business portfolio which includes major interests in oil, entertainment, telecoms and shipping.

Over the years, he has donated millions of pounds to charities and a source said: "Mr Krishnan shuns public exposure and likes to keep a low profile for someone of his stature."

Figures have yet to be confirmed but a significant kitty would be made available for Shearer to use in the transfer market.