Newcastle nearing takeover after positive talks between Mike Ashley and Amanda Staveley
Newcastle are nearing a takeover by financier Amanda Staveley and her investment firm PCP Capital Partners after receiving a £300m offer for the Premier League club.
Controversial owner Mike Ashley, keen to sell the club, held talks with Staveley at a London curry house last week that are believed to have reached an amicable conclusion for both sides.
Neither party has commented at this stage but the £300m offer comes closer to Ashley’s valuation of Newcastle than previous bids of around £250m.
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The Sports Direct tycoon bought the club for £134.4m in 2007 and has overseen a tumultuous decade at St James’ Park which has been marked by two relegations and numerous fan protests against his ownership.
Their most recent accounts for the 2015-16 season detailed a profit of £900,000 and revenue of £125.8m.
Staveley brokered Sheikh Mansour’s £210m purchase of Manchester City in 2009 and was thought to be involved in attempts to buy Liverpool on behalf of Dubai-based investors in 2008.
Should a deal be agreed in time, she is expected to make funds available for manager Rafa Benitez in the January transfer market.
Newcastle are currently teetering above the relegation zone having lost six out of their last seven games.