Friday, 20 April 2018
Latest news
Main » Amanda Staveley consortium offer £300m to buy Newcastle

Amanda Staveley consortium offer £300m to buy Newcastle

21 November 2017

Amanda Staveley has reportedly tabled a formal offer of £300 million to take over Newcastle United from Mike Ashley.

Controversial sportswear tycoon Mike Ashley announced his intention to sell the club last month.

Early reports from Sky Sports are claiming the bid was made last week and that no other offers are known to have been made at this stage, and that negotiations between the two parties could begin as early as next week.

But during his time at the helm, Newcastle have been relegated twice, costing them millions of pounds in TV revenue and Ashley has been hugely unpopular with the Toon Army.

Staveley, who helped broker the purchase of Manchester City by Sheikh Mansour bin-Zayed bin Sultan Al Nahyan in 2009, was spotted watching Newcastle's 1-1 home draw against Liverpool on 1 October.

Ashley has seen Newcastle supporters regularly protest about the way he has run the club but find themselves an impressive 11th in the Premier League after 12 matches.

The statement, issued on October 16, from Ashley's St. James' Holdings Limited, said they would be willing to allow a potential purchaser to defer "substantial" payments in order to allow the new owner the flexibility to "make meaningful investment in the club, including in its playing squad". 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.

Amanda Staveley consortium offer £300m to buy Newcastle