Published 13:17 IST, April 15th 2020
Mike Ashley set to sell Newcastle for £300million to group led by Amanda Staveley
Mike Ashley is prepared to resign as the owner of Newcastle United and sell the Premier League club for £40 million less than what he initially wanted.
- SportFit
- 3 min read
A Newcastle United takeover seems imminent as club owner Mike Ashley has reportedly reduced his asking price from £340 million ($428 million) to £300 million ($377 million). Mike Ashley has been the Newcastle owner since July 2007 and is set to bring an end to his 13-year tenure following the reported Newcastle United takeover by Saudi Arabian crown prince Mohammad bin Salman. Amanda Staveley has been the key negotiator and financer of the Newcastle United takeover deal and Mike Ashley is reportedly prepared to lend her money to stake her claim for a 10 percent share in the deal.
Newcastle United takeover: Mike Ashley accepts a bid from Amanda Staveley
Amanda Staveley, a 47-year-old English businesswoman made three offers for the Newcastle United takeover since February 2017 but Mike Ashley rejected them until January 2020 when Mohammad bin Salman proposed an offer to the Newcastle owner. The Premier League received documents from the Amanda Staveley group regarding a Newcastle United takeover. According to reports from The Sun, Mike Ashley is prepared to let the Newcastle United takeover go through at £300 million ($377 million).
Amanda Staveley future Newcastle owner?
Amanda Staveley was the woman who helped set up the deal that saw Sheikh Mansour provide a £3.5bn ($4.4bn) bailout just weeks after she brokered his takeover of Premier League club Manchester City. Although Staveley will not be named as the Newcastle United owner, she will play a key part in handling the finances of the of Saudi Arabia’s Public Investment Fund for the Newcastle United takeover. It is also reported that the Premier League is in the process of testing the owners and directors from the Staveley-led group before the final transaction is completed.
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Newcastle United fans delighted with Mike Ashley departure
There has been plenty of unrest over the last decade with Mike Ashley coming under increased scrutiny by his own set of fans for the manner of the club being run into the ground. Although there is the delight among the Newcastle fans that Mike Ashley is agreeing to resign as Newcastle owner, fans are unable to celebrate in public at this time. The coronavirus lockdown in the UK has forced fans to remain indoors amid the crisis.
Updated 13:17 IST, April 15th 2020