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Financial Firm Tables Near-$400 Million Dollar Takeover Bid For Newcastle
Topic Started: Nov 20 2017, 10:24 PM (176 Views)
Webster
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MatchDay Commentator

note: £300m, exchanged for USD, comes to around $400m (exact amt., $397m)

BBC Sport: Newcastle United takeover - Financial firm tables formal bid in region of £300m

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A financial firm headed by British businesswoman Amanda Staveley has tabled a formal takeover bid in the region of £300m for Newcastle United. PCP Capital Partners has been in talks with club owner Mike Ashley for about a month, and a source close to the deal said an offer has now been made.

Newcastle are yet to comment publicly on the news, although a club source has disputed the value of the bid.

Ashley said on 16 October he wanted to sell after 10 years in charge. He reportedly dropped the asking price to £380m in an attempt to complete a sale by the end of the year.

Ashley, 53, has been a divisive figure at St James' Park since taking over in 2007, with some supporters regularly protesting about the way the businessman has run the club. He bought Newcastle for £134.4m in 2007. Their latest accounts - up to 30 June 2016 and before the club's relegation to the Championship - showed a profit of £900,000 and turnover of £126m in 2015-16.

Staveley helped broker the purchase of Manchester City by Sheikh Mansour bin-Zayed bin Sultan Al Nahyan in 2009, and it was reported she led Dubai International Capital's £400m bid for Liverpool in 2008. The 44-year-old watched Newcastle's 1-1 home draw against Liverpool on 1 October.

The Magpies have been relegated twice from the Premier League during Ashley's reign.

After winning promotion last season, Rafael Benitez's side are 11th in the Premier League after 12 matches.
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'Some people believe football is a matter of life and death, I am very disappointed with that attitude. I can assure you it is much, much more important than that.' - Bill Shankly, Liverpool F.C.
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Ste_Macca
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SmegHead

I remember when Newcastle was everyone's second team, maybe now they can get back to that level and see a few more "I will love it" moments :evilgrin:

Kevin Keegan Famous Rant - I will love it if we beat them!
"Is that a cigarette your smoking Lister?" - "No, Its a Chicken!!"

SmegHead

"sorry goose it time to buzz the tower"
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Ste_Macca
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SmegHead

Think this deal fell apart. Unlucky.
"Is that a cigarette your smoking Lister?" - "No, Its a Chicken!!"

SmegHead

"sorry goose it time to buzz the tower"
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