Madoff Scandal Cost Newcastle Deal

I got bail!

I got bail!

An American investor was closing in on purchasing Newcastle United until the Bernard Madoff (pic) scandal cost the prospective buyer hundreds of millions of dollars, according to the financial adviser charged with selling the club. Keith Harris, chairman of investment bank Seymour Pierce, said discussions with the unnamed investor were ‘serious’ and had settled on a ‘good price’ for taking the Premiership club out of the hands of Mike Ashley, owner of Sports Direct. But the investor’s loss from the collapse of Mr Madoff’s fraudulent Ponzi scheme brought talks to an abrupt end. Mike Ashley confirmed two weeks ago that he had taken the club off the market.