Indian Tycoon In Newcastle Link

Indian business tycoon Anil Ambani has been linked with a move to takeover the financially struggling English Premier League club Newcastle United.

Anil Ambani is worth $42 billion and is the sixth richest man in the world. He is the chairman of Reliance Communications.

A News of the World exclusive reported that Ambani is keen on lauching a supposedly $260 million bid for Newcastle.

The report stems from the fact that Newcastle owner Mike Ashley had exclaimed that the club is up for sale as he can no longer manage an escalating budget.

A Singapore businessman too is said to be keen on taking over the club.