Hall approached to sell Newcastle holding

Newcastle’s majority shareholder John Hall has revealed he has been approached to sell his stake in the club.

Hall, who took control at St James’ for an estimated £3m (€4.4m) in 1991, stepped down as chairman in 1997 but still owns nearly a third of the shares.

Reports yesterday suggested American hedge fund Polygon has been working with investment bank UBS for several months on a buy-out proposal.

A statement released to the Stock Exchange by the club this morning said: “The board of Newcastle United PLC notes recent press speculation and confirms that it has today been informed by Sir John Hall representing Wynyard (Guernsey) Limited, which owns approximately 28.8% of Newcastle United PLC, that it has received expressions of interest to acquire its shareholding, which may or may not lead to the disposal of its stake.

“A further announcement will be made if appropriate.”