 Newcastle Deny Williams in Bid Approach Monday November 5th, 2001 Newcastle United have refuted reports that Formula One team owner Frank Williams is set to buy a stake in the club. British newspapers reported on Sunday that multi-millionaire Williams had shown interest in buying former chairman Sir John Hall's 47 per cent shareholding in the club, allowing Williams to assume control with chairman Freddy Shepherd. Williams, who owns 500 shares in the north-east club, was seen at St James' Park last week fuelling talk of a deal. But a spokesman for Newcastle United PLC told Reuters on Monday: "He was in the area and had a meeting with various people at the club. It was a personal visit, nothing more." The owner of the BMW-Williams team lives in the north east and is a Newcastle fan, but his last venture in football ended on a sour note after he ploughed money into Oxford United. Williams lost most of the three million pounds ($4.37 million) he invested in the club and was involved in a bitter court wrangle to recover some of his money. Newcastle shares were trading up almost five per cent at 34 pence on the London stock market in early trade on Monday.
Published at 11:04:54 GMT
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