Yet more promising news on Amanda Staveley’s potential takeover of Newcastle United today, with The Telegraph now stating that a deal between the businesswoman and Mike Ashley is ‘edging closer’ after ‘regular’ and ‘positive’ talks between the two parties following an alleged £300m offer.
Excitingly, The Telegraph claim that Staveley feels ‘steady progress’ is being made on the deal behind the scenes, with a belief that the deal is now ‘moving closer all the time’.
Ashley made his intentions to secure a quick sale quite clear in Monday’s statement and quite significantly, The Telegraph understand that Staveley is also keen to conclude talks before Christmas in order to ‘release more funds’ for Rafa Benitez ahead of the January transfer window. Sounds too good to be true doesn’t it!
While the story confirms that communication between Ashley’s representatives and Staveley’s has been ‘regular’ and ‘positive’ over the past few weeks, there is still one potential stumbling block at present. The price.
Reliable reports arrived yesterday from Reuters, who indicated that Staveley is prepared to pay £300m for the club.
Whilst this has been deemed a potentially ‘reasonable’ offer, Ashley’s valuation is believed to be around the £350-£380m mark – and there are four other parties who are believed to be in the race, having signed NDA’s (non disclosure agreements).
Significantly, Staveley does have considerable financial backing in the form of PCP Capital Partners – her firm worth in excess of around £30billion from Middle Eastern wealth – however a compromise may be required here if the pair are to strike a deal to finally end Ashley’s infamous reign at our beloved club.
Exciting developments and news that has every right to excite each and everyone of us Newcastle United fans, but let’s not get too carried away until it’s official. This is Mike Ashley she’s dealing with after all!
I can’t understand why we are all getting so excited about this
The club has been up for sale before and it became very apparent that Ashley will not sell at a loss.
So he wants his initial investment, his outstanding interest free loans and a bit of profit thrown in before he will part with this particular Sports Direct product.
If Ashley is valuing the club at around 400 million, and Stavely is in a 300, then its never going to happen.
Positive talks are one thing, actually reaching an agreement is something totally different.
Rob(Quote)