Newcastle United takeover talks between Amanda Staveley and Mike Ashley fall through

Prominent businesswoman Amanda Staveley and Newcastle United owner Mike Ashley have ended talks over a deal for the club which could have been worth as much as £250m.

The deal fell through when Staveley refused to match Ashley’s valuation of the club, according to the BBC.

Staveley’s fund, PCP Capital Partners, made an offer to the club which could have eventually risen to £300m, the BBC said.

Dubai-based PCP Capital Partners manages a portfolio of £28bn. Staveley was intimately involved in Manchester City’s £210m takeover by Sheikh Mansour. She also came close to negotiating a similar deal for Liverpool.

Ashley, the billionaire owner of retailer Sports Direct, put Newcastle United up for sale in October, after a 10-year stint marked by fan protests about his running of the club.

The Newcastle owner will now only discuss a sale to parties who make a cash deposit to prove their intentions are genuine, the Daily Mail reported.

Ashley previously put Newcastle up for sale in September 2008, before taking it back off the market three months later, after club favourite Kevin Keegan’s departure as manager. He bought Newcastle for £134.4m in 2007.

Newcastle are currently in 15th place in the Premiership table, only three points above the relegation zone. The club has been relegated twice during Ashley’s reign. They were promoted back to the Premiership last year.