Shepherd mulling Newcastle bid
Freddy Shepherd is contemplating a bid to buy back Newcastle United and would love to make a comeback as chairman at St James' Park.
Contrary to reports, Shepherd, who sold the Magpies to current owner Mike Ashley in June 2007, said he could not deny he was interested in making a bid.
Sources in the City have told ESPNsoccernet that foundations are being laid for a potential takeover and that any deal would rid the club of £90 million debt to help comply with UEFA's Financial Fair Play regulations.
Shepherd, who is currently on Tyneside, would not deny that he is leading a takeover of his beloved Newcastle United and would only say: "I am not prepared to comment on this."
A close friend of Shepherd confirmed to ESPNsoccernet: "I know Freddy is giving very serious consideration to making an offer and returning to St James' Park."
Unpopular Toon owner Ashley, who put the club up for sale for £100 million while they languished in the Championship last season, would now require a higher fee with the club back in Premier League.
In light of Shepherd's comments, the club have said they have not received any offers and suggested Newcastle are no longer up for sale.
"There has been unfounded speculation today suggesting that Freddy Shepherd intends to put a consortium together in a bid to buy Newcastle United FC from its owner, Mike Ashley," the club said.
"The club can confirm that it has not received any contact from Freddy Shepherd expressing an interest in buying the club, nor is the club for sale."
Shepherd, who endured his fair share of controversy during his time as chairman at St James' Park, might not have been the most popular owner in the past, but the fans would welcome the exit of Ashley given the club's recent history.