Grapevine: Newcastle United Approach Williams

Frank Williams, head of the Williams Formula One team, could take a majority stake in English premier league soccer club Newcastle United, British newspapers said on Sunday.

Newcastle chairman Freddy Shepherd met multi-millionaire Williams last Thursday in a bid to find a big backer, the papers said. The News of the World quoted a source as saying: "it looks like (Shepherd) may have found a partner in Frank Williams."

The Mail on Sunday said Shepherd had confirmed he had met with Williams. But it quoted Shepherd as saying: "Frank is an old friend of mine. We talk a lot and this was nothing more than a private get-together."

Williams, a keen Newcastle fan, and Shepherd were both born in the north-eastern city. Shepherd wants to take the club off the stock exchange and put it back into private ownership, the reports said.

He is eyeing the 47 percent majority holding of Douglas Hall, son of former chairman Sir John Hall, estimated at some 22 million pounds ($32.23 million) on the current share value. Shares, which were worth 140 pence each when the club was floated in 1997, have plunged to little more than 30 pence in four years.

Williams, whose fortune has been estimated at 95 million pounds, currently holds only 500 shares.

The News of the World source said: "Freddy is desperate to return the club to the glory days and believes the only way he can do that is by bringing it back into private ownership without the responsibilities of having to answer to a plc (private limited company) board."

Newcastle, English champions four times between 1905 and 1927, were premier league runners-up in 1996 and 1997 but have not finished higher than 11th since.