Tuesday, 21 November 2017

Amanda Staveley tables bid to buy Newcastle Football Club

Newcastle owner Mike Ashley has received a bid from financier Amanda Staveley to buy the club. Ms Staveley's PCP Capital Partners tabled a bid to buy Newcastle from Mr Ashley late last week. This came after more than two months of negotiations.
Sources close to Newcastle said that reports which say the bid is worth in the region of £300m are inaccurate. It was unclear on Monday evening whether PCP was the only credible bidder for the club, but PCP hope to gain exclusivity from Mr Ashley as it means no other bidders are being considered.
PCP's lawyers have not heard back from Mr Ashley's lawyers regarding the bid but there is no deadline fixed to the bid. However, it is understood that if Mr Ashley's hopes of concluding a deal by Christmas are to be realised then agreement would be needed soon. Ms Staveley is in London and has been leading negotiations.

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