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Post by rugbytoffee on Nov 21, 2017 16:52:33 GMT
Amanda Staveley’s potential takeover of Newcastle United could collapse unless there is a significant increase on the initial £300million bid, according to The Telegraph.
Staveley and PCP Capital Partners made the bid on Monday, but their valuation is much lower than that of current owner Mike Ashley.
Ashley has reportedly challenged Staveley to come back with a serious bid, one that would see a large increase from the initial £300million, or he may take the club off the market.
The Sports Direct mogul is said to be unwilling to let a potential takeover hang over the club for the whole season, and wants any deal to be struck as soon as possible.
Ashley is refusing to be pushed around, and will only sell the club at a price that he believes is fair.
He is also said to be unhappy that details of the bid were leaked, with both parties signing non-disclosure agreements before negotiations began.
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Post by rugbytoffee on Nov 22, 2017 11:50:03 GMT
Mike Ashley is holding out for a value of around £350million as both parties contemplate the next move in the Newcastle United takeover saga .
A follow-up bid from Amanda Staveley’s PCP Capital Partners is expected after an incentivised offer was rejected by Ashley, who wants much more than the £300million that was being dangled in front of the sportswear tycoon.
Exactly what Ashley has been looking for is unclear, but there are new claims in the Times that he is aiming for “a minimum” of £350million before he does a deal that sees control handed over to Staveley’s group.
The financier, who was pictured in Mayfair yesterday on business, made a first offer last week and there have been varying reports about the size of the offer. What appears to be the case is that there were a series of offers dependent on different circumstances – with Staveley offering a one-off payment with no clauses that was significantly below Ashley’s valuation .
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Post by Avinalaff on Nov 22, 2017 12:27:25 GMT
How long has he been trying to sell the club now?
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Post by rugbytoffee on Dec 6, 2017 12:50:48 GMT
Forty days. That is now the predicted timescale needed for the takeover of Newcastle United to be completed. Forty days, once a bid has been accepted. The estimate comes from those close to the Amanda Staveley camp.
There is an almost desperate quest now for positive news on the sale of a city’s football club to the still largely unknown financier from Yorkshire.
Forty days, however, suggests that the current state of limbo is about to hold for a significant period of January. Staveley’s bid of around £250m is already considerably short of what Ashley is willing to accept to end his decade in charge at St James’ Park. There has been nothing concrete to suggest he has dropped it from the high three hundreds. Staveley will have to relent and up her bid to even bring Ashley and his advisors back to the table. The suggestion is that, with the threat of a relegation battle, she is not prepared to go any higher.
That could close the door on a possible takeover anyway, but even the positive take that was being put on the latest developments suggest another difficult and fraught month for the manager Rafa Benitez.
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Post by rugbytoffee on Dec 13, 2017 15:11:49 GMT
Mike Ashley is on the verge of selling Newcastle United, with a deal reportedly set to be completed by the end of the week. The Sports Direct owner is expected to hand the club over to Amanda Staveley and her group of backers for a fee of around £300million. According to several sources, the deal has made significant process over the past week and will be completed by the end of the week, providing a huge boost for manager Rafa Benitez. The takeover would help the Spaniard in his hopes of securing new players in January, while it will also be welcome news for supporters of the club. After the parties were locked in talks for six weeks, Ashley has reportedly finally agreed a package to sell the club, having met Staveley at his favourite London curry restaurant last week. Ashley has been at the helm for ten years, enduring a mixed tenure including two relegations and two promotions.
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