Newcastle takeover: Amanda Staveley bids £300m for Magpies as Mike Ashley hopes to cash in before Christmas
AMANDA STAVELEY bid £300million for Newcastle — which could end Mike Ashley’s reign.
Her group of investors hope to strike a deal — despite it falling short of Toon owner Ashley’s valuation.
The sportswear tycoon wants £400m but is keen to offload the Tyneside club before Christmas.
And there are no other interested parties that the controversial Toon chief can use to drum up a bidding war.
Staveley, 44, fronts PCP Capital Partners and last month signed a non-disclosure agreement with the club.
She has been looking at the books ever since — and has now fronted up with the cash.
It is the first concrete offer Ashley — dubbed ‘Cashley’ by some fed-up fans — has received for the Premier League club.
Staveley was at St James’ Park for the 1-1 draw with Liverpool on October 1 and began negotiations around that time.
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The next step would be to grant Staveley a period of exclusivity within which to negotiate a deal, which could happen sooner rather than later.
Staveley was a key player in Manchester City’s Abu Dhabi takeover back in 2008.
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And she also looked at the possible acquisition of Liverpool — only to be put off by the price tag.
It is understood Staveley’s group have been undergoing a thorough review of the club’s finances, dating back to 1990, and boxes of accounts have been sent from Tyneside to London.
Should the deal happen, PCP plan to give boss Rafael Benitez substantial transfer funds in January.
Ashley bought the club in 2007 and has overseen two relegations and two promotions in that time.
But the Sports Direct supremo revealed last summer that he was ready to move on.
When asked if he could compete with the Prem big boys, he said: “I cannot and will not.”