By 90Min
November 25, 2017

Amanda Staveley is reportedly lining up Saudi Arabian or Dubai-based businessmen to help her seal her protracted takeover of Newcastle United.

The Financial Times has revealed that Ms Staveley may use the financial backing of her wealth of contacts in the Middle East to help fund her plans to buy out current Magpies owner Mike Ashley after a failed bid earlier in November.

Ashley is believed to be holding out for around £300m to relinquish control of Newcastle, but Ms Staveley's first offer - thought to be in the region of £250m - was rejected by the Sports Direct founder.

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Newcastle fans are praying that Staveley's company - PCP Partners - can complete a buyout of their club before Christmas and, with it, see manager Rafa Benitez handed a handsome transfer kitty to bolster his first-team squad in the January transfer window.

Whether an agreement can be reached between the two parties remains to be seen, but Ms Staveley's ties to individuals with financial punching power could help sway Ashley into eventually selling up if he is handed the funds he is asking for.

Ms Staveley, who failed in a bid to take over at Liverpool back in 2008, is not thought to be dependent on the funds of her contacts in Dubai or Saudi Arabia, and PCP could end up funding the takeover through their own pockets.

If that fails, however, she is believed to have an agreement in place with certain benefactors and investors who will help push through her bid to finally take full control of the Premier League side.

Ashley's advisers are supposedly unhappy with the publication of Staveley's offer, and do not believe the clauses in the initial deal to be anywhere near what Ashley is currently holding out for.

Both PCP and Newcastle have declined to comment on the rumours circulating about the possible takeover, and the chances of Newcastle supporters getting a well-timed Christmas gift hang in the balance with only a month left until the festive period.

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