By 90Min
October 17, 2018

A group of wealthy investors from America are believed to be ready to submit an offer of £300m to buy Newcastle United, but the move hinges on whether the Magpies can avoid relegation.

Current owner Mike Ashley has set an asking price of around £300m for the club, who currently sit 19th in the table with just two points from their opening eight matches. Rafa Benitez's men have been guilty of some lacklustre performances and are yet to register their first victory in any competition this season.

Stu Forster/GettyImages

News of the potential bid comes from The Daily Mail, who claim that the group are keen to win the race for the club, with a rival bid from a group led by former Chelsea and Manchester United executive Peter Kenyon looking likely.

However, the group are said to be incredibly concerned by the possibility of relegation, and are prepared to completely withdraw their offer if Benitez's side start to look like a certainty for relegation to the Championship.

The Daily Mail cites a conversation with a source who believes that this group of investors are prepared to make an offer while Kenyon continues to raise funds for the bid. The source said: "We are talking seriously wealthy people. They have the funding and see the potential.

"They see a sleeping giant and feel they cannot only have a real go at providing the success fans crave but also take Newcastle to the next level globally.

"Any potential buyer is wary of the league position. The fear is that you pay £300m now, back the manager with another £100m in January and still get relegated.

Stu Forster/GettyImages

"All of a sudden you've spent £400m for a club that is suddenly only worth £150m. It's a huge risk. Ideally, Newcastle go on a run and a sale goes through once the window has closed when they're close to, or have stayed up."

With upcoming matches against Brighton and Southampton in the Premier League, Newcastle will be desperate to finally find that elusive first win of the season and entice any potential bids from investors.

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