Former Newcastle Owner Approached by Brokers to Buy Magpies Back From Mike Ashley

Brokers looking to form a consortium to try and buy Newcastle United from current owner Mike Ashley have approached former Magpies owner Sir John Hall to join

Brokers looking to form a consortium to try and buy Newcastle United from current owner Mike Ashley have approached former Magpies owner Sir John Hall to join them.

Hall took over as owner of Newcastle United in 1992 but sold his previous 41.6% stake in the club to Ashley for around £55m back in 2007 - the time when billionaire owners were taking over other Premier League clubs and Hall conceded he could no longer compete with the vast sums of money pumped into the other clubs.

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After 12 years, there's (faint) hope on Tyneside that Ashley's reign as owner of Newcastle will come to an end, given the growing number of businessmen and women said to be interested in buying the club from him, and there may be a familiar face taking over at St James' Park in the future.

According to Chronicle Live, Hall is said to be amongst a number of influential north east figures who have been approached by middlemen regarding the formation of a new consortium which would bid to takeover the club.

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The news comes amidst growing uncertainty regarding manager Rafa Benitez's future at the club. The Spaniard has previously insisted he is only focused on getting the club to at least the 38-point mark in their current Premier League campaign - which would likely see the club survive relegation - and only then would he be open to contract negotiations with club officials.

Although, even if he was to remain as manager beyond the current campaign it's no secret he would demand heavy investment to fund recruitment in the summer - support he hasn't received since his arrival on Tyneside - meaning Hall's potential takeover at the club could well come at the perfect time.