Leagues

Newcastle United takeover: Amanda Staveley ‘close to agreeing £300m deal to buy club from Mike Ashley’

Wednesday, December 13, 2017

Amanda Staveley is understood to be closing in on a £300million deal to buy Newcastle United from Mike Ashley.

The businesswoman held talks with Ashley at a London restaurant last week after launching a bid to purchase the Premier League club on behalf PCP Capital Partners.

The talks were positive and, according to the Daily Telegraph, significant progress has been made in recent days.

Staveley had initially tabled a bid of £250m to buy out Ashley but that swiftly rejected.

However, that has now been increased to around £300m and it is understood that will be enough to convince the Sports Direct magnate to sell.

The deal is not expected to be finalised until the end of January but Ashley is reportedly ready to fund a spending spree when the transfer window opens on the condition the money is repaid once the takeover goes through.

The news will come as a major boost to Newcastle boss Rafa Benitez.

Benitez stressed the need for reinforcements to ensure the club are not relegated back into the Championship, with the club currently sitting just two points above the drop zone.

Original Article

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