Newcastle United owner Mike Ashley is believed to be preparing to turn down Amanda Staveley's £250 million offer to buy the club.
Newcastle United owner Mike Ashley is believed to be preparing to turn down Amanda Staveley's £250m offer to buy the club. The Sports Direct businessman put the club up for sale in October, but has faced intense scrutiny from the Magpies' fans, with claims that Ashley's overvaluation of the club putting off potential investors for making a bid.
As reported by the Daily Mail, Ashley's demands of at least £300m for the Tyneside club has not been well-received by Staveley and the PCP Capital Partners, and a deadlock is starting to emerge between Ashley and the interested parties.
The offer of £250m was made last week, but Ashley is yet to respond to the rumored two-week deadline set by Staveley.
Ashley has proved a highly unpopular figure among fans of the Toon, with his controversial backroom decisions and distinct lack of investment causing continued outrage.
The brief renaming of St James' Park to the Sports Direct Arena sparked mass protests, as the fans argued that their heritage was being jeopardized for the sake of Ashley's balance sheets.
The Newcastle fans would welcome the departure of Ashley, as they look to build some stability after being promoted from the Championship back into the top tier last season.
It is unlikely that a deal will be concluded before Christmas, but it is understood that is will only be a matter of time before a more lucrative offer is made, and Ashley finally sells his club of ten years.