Newcastle fans had high hopes Kevin Keegan could be back at St James's Park for a fourth time when rumour surfaced that an Indian billionaire was reportedly set to buy the club.
But the Indian billionaire has "poured cold water on a deal", according to the Journal.
No Indian Takeaway For Ashley!
By Nu Mad
Updated Monday, 8th September 2008
Anil Ambani distanced himself from a buy-out, and so we brace ourselves for a new manager at St James' Park.
Ambani, estimated as the world's sixth richest man and owner of Reliance Communications, was reportedly interested in Newcastle before Keegan's resignation and they were one of three Premier League clubs which last week it was claimed he was considering buying.
But yesterday the head of Corporate Communications at Reliance, Gaurav Wahi, dismissed the talk.
"We have denied this earlier and we have no plans to take over Newcastle United or any other English club," he said. "All these media reports are inaccurate."
In a further blow to widespread fans' hopes that the club may soon be sold, sources close to Middle East company Dubai Investment Capital - also linked with a possible takeover bid at the weekend - revealed there was no truth to the rumours.
The source, who cannot be named, said: "I can confirm there is absolutely no truth to rumours that DIC will be buying Newcastle United FC."
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