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'Bruised' Moat still keen to buy Toon from Ashley

NORTH-EAST businessman Barry Moat, who failed in a bid to buy Newcastle United last month, insists he will never give up hope of owning the club.

Moat proved unable to meet Mike Ashley’s £80m cash asking price for the Championship outfit, following a summer of uncertainty over the Magpies’ future. He admits being rocked by the failure, but left the door open for another bid.

“For one reason or another it didn’t come to pass,” said Moat. “It’s extremely disappointing. It’s something we’d given up a lot of time and effort and abortive costs with so I’ve been feeling pretty bruised by the whole process. As my wife keeps telling me, no-one’s died so you’ve got to get on. I don’t think Mike Ashley wants to stay at St James’ Park for the long term, so I’ll never give up. I’ll keep beavering away in the background and hopefully one day we’ll get there.”

Having rejected Moat’s offer, thought to be £60m upfront with another £20m to follow, he has urged the unpopular Ashley to plough more funds into Newcastle’s promotion push. Moat added: “Hopefully he’ll make some investment in the club. Hopefully the money will be spent on the playing squad and that bears fruit and we get back to where we deserve. This is Newcastle United, it is a massive club.”