Sep. 19, 2008 (China Knowledge) - Chinese property billionaire Xu Rongmao, Chairman of the Board with Shanghai Shimao Co. Ltd (SMG)<600823>, is reportedly interested in acquiring the Newcastle United Football Club.

However, Ge Weidong, Secretary of the Board and Deputy General Manager with Shanghai Shimao, clarified during a call interview saying that they did not hear about any news on this matter.

The clarification came from reports that Mike Ashley was very likely to sell the football club in short term and one potential buyer is Xu Rongmao,

Industry analysts indicate it is possible for Xu Rongmao to bid for the Newcastle club and seek other channels for the money he raked in from property development previously. The property billionaire is said to have plans to expand St James' Park and redevelop the surrounding area, including hotels, subway stations, casinos and luxury houses, etc. It is also understood that he would like to hire Kevin Keegan as his manager.

Xu Rongmao owns three listed companies so far, namely Shimao Property Holdings Ltd<813>, Shimao International Ltd<649> and Shanghai Shimao, according to industry sources.