Post by premierleaguenews2 on Jun 12, 2017 18:21:15 GMT
Mike Ashley is considering selling Newcastle United amid interest from foreign investors. Sky Sports report that owner Ashley is "considering all options" after a number of approaches in recent weeks.
Reporter Keith Downie said: "We understand NUFC have received significant interest in recent weeks from foreign investors – including one party from China. "We believe Newcastle owner Mike Ashley is now considering all options available amidst real interest from Chinese investors." Newcastle are set to benefit from the Premier League's lucrative TV deal after winning promotion. And the club is now a far more attractive proposition for investors.
Ashley had previously insisted that United was not for sale. Newcastle have made no comment on the story, but the Gazette understands that Ashley is weighing up a sale. It is unclear what impact this development will have on Rafa Benitez and his summer plans. Ashley met Newcastle manager Benitez for talks last month after the club won the Championship. At the time, the billionaire said: "I've confirmed to Rafa and Lee (Charnley, United's managing director) that they can have every last penny that the club generates through promotion, player sales and other means in order to build for next season."
PCP Partners’ initial bid for Newcastle United is understood to be worth £300million.
The group - spearheaded by Amanda Staveley - have been in discussions with Mike Ashley after signing non-disclosure agreement forms and entering due diligence to assess the club’s finances.
It is now believed that PCP Partners value the Magpies at £300million and player investment would follow after a potential takeover.
Reports in the UAE, via the National, suggest that Staveley would like the deal wrapped up by December in order to give Rafa Benitez every chance to get plans in place for the January transfer window. It is also suggested in the Middle East that United will emulate the same model as Manchester City have under Abu Dhabi ownership.
Current owner Mike Ashley had stated he would only sell to a group that were prepared to take the club on to the next level, and it is clear that were Staveley to be successful in her bid to buy United there would be transfer activity in the January window.
Reports in the UK last weekend had suggested that £500million would be available for Benitez to spend in the next two windows. That is understood to have been overestimated in the media, but a competitive spending kitty awaits the Toon boss if the deal comes off.
The National publication carries a quote from Staveley regarding her involvement in the Manchester City takeover in 2008 when Abu Dhabi invested in Manchester City.
Staveley is reported to have said: “The experience I gained has been instrumental in preparing me for the investment I wish to make now in the same league.” It has previously been reported that Ashley would accept £380million but no price tag has been set according to sources close to United.
However, Ashley’s lawyer Andrew Henderson has confirmed that staged payments for the club would be acceptable.
A report has surfaced suggesting that Amanda Staveley and her PCP group have agreed to buy Newcastle United for £300 million, though club sources are rejecting the development, according to the Chronicle.
The report, cited by the Chronicle as being from Indonesian outlet Semuanyabola, claimed that the price of £300million had been agreed and that a deal would go through in December – ahead of early estimates.
The controversial sportswear tycoon Mike Ashley is nearing the final whistle as the owner of Newcastle United Football Club after receiving a formal takeover offer from Amanda Staveley, the financier.
Sky News has learnt that Ms Staveley's PCP Capital Partners tabled a bid worth in the region of £300m to buy Newcastle from Mr Ashley late last week.
It was unclear on Monday evening whether PCP was the only credible bidder for the club, although people close to the process said the logical next step would be to award Ms Staveley a period of exclusivity within which to negotiate a deal.
That could come as soon as this week, according to insiders.
PCP's money is a combination of Ms Staveley's equity and that of her major investors, which include funds based in the Middle East.
Announcing his intention to sell the club last month, lawyers for Mr Ashley said he hoped to finalise the sale of the Premier League outfit by Christmas, although it remains possible that the process could slip into the new year.