Nigerian tycoon dismisses Newcastle bid

Nigerian tycoon Mike Adenuga has dismissed reports that he is part of a Nigerian consortium bidding to take over Newcastle United.

In a statement released by his company Adenuga, who has major stakes in oil, banking and telecommunications, described as false recent reports linking him to the Newcastle bid, insisting he has never at any time discussed nor met with any agent linked with the club.

“The report linking the name and business of Mike Adenuga to the proposed take over of Newcastle United is patently false and misleading. Adenuga is not part of any consortium bidding for Newcastle and he has never met any agent or group concerning the said take over.”

Adenuga's telephone company is the title sponsor of the Nigerian Premier League and major sponsor of the country's football teams. It is also the sponsor of the annual CAF Awards.

“For the avoidance of doubt, Adenuga is at this moment committed to raising the stature of African football. He will continue to support all agencies and stake holders to ensure the continued development and promotion of the game across all levels on the continent', continued the statement.

A consortium of Nigerian businessmen has been reported to be interested in buying Newcastle United.

Spokesman of this consortium is London-based player agent Chris Nathaniel, who has recently partnered the Lagos State Government in a number of football initiatives in the country.