League 2 Notts County are the target of a takeover bid from the Middle East. A consortium of Middle East investors is on the verge of pouring millions into the oldest club in the world, known as ‘The Pies’. Apart from giving a new angle on the terrace chant ‘Who ate all the pies?’ the move by Munto Finance Ltd. illustrates that interest from the Middle East in UK footballing assets has not been dimmed by the economic downturn.
League 2 Notts County are the target of a takeover bid from the Middle East. A consortium of Middle East investors is on the verge of pouring millions into the oldest club in the world, known as ‘The Pies’. Apart from giving a new angle on the terrace chant ‘Who ate all the pies?’ the move by Munto Finance Ltd. illustrates that interest from the Middle East in UK footballing assets has not been dimmed by the economic downturn. Harry Philp, financial adviser at Hermes Sports Partners, commented ‘There are a lot of wealthy individuals in the Middle East looking at this. They see a real estate play in some of these smaller clubs, pretty attractive grounds and city-centre locations.’ Others are more sceptical. One banker told the Financial Times ‘A lot of potential purchasers are making sure they have sufficient capital to ensure their other business interests are covered rather than invest in any new venture.’