Financer Amanda Staveley, representing PCP Capital partners, has launched a bid of around £300m to buy Newcastle United from incumbent Mike Ashley.

By 90Min
November 20, 2017

Financer Amanda Staveley, representing PCP Capital partners, has launched a bid of around £300m to buy Newcastle United from incumbent Mike Ashley.

Early reports from Sky Sports are claiming the bid was made last week and that no other offers are known to have been made at this stage, and that negotiations between the two parties could begin as early as next week.

Sources close to Ashley claim that the Sports Direct owner wishes to sell the club before Christmas after announcing his intention to sell the club in October after owning the majority shares in Newcastle since 2007.

Newcastle currently sit in 11th place in the Premier League, and although they suffered a 4-1 away defeat to Manchester United last weekend, they look to have adapted to life back in the Premier League nicely.

Ashley was subject to heavy criticism last summer due to a lack of money given to manager Rafa Benitez to buy players heading into Newcastle's first season back in the top flight. 

He also admitted in an interview he didn't have the kind of money to compete with the top clubs in the country, and that he gave what he could to the club.

The takeover of the club would be the first step in what the club hope to be a bright future at St. James' Park, as they look to become title challengers once again.

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