Wednesday, 17 January 2018

Newcastle United owner Mike Ashley ends takeover talks with Amanda Staveley

Newcastle United owner Mike Ashley has ended talks with businesswoman Amanda Staveley over a takeover that could have been worth around £250m.

Ashley said in October he wanted to sell the club after 10 years in charge.

He was believed to have been close to selling to Staveley's PCP Capital Partners group in mid-November after weeks of negotiations.
However, the deal is now understood to be off after PCP failed to match Ashley's valuation of the club.

A Newcastle source told BBC Sport: "Ashley was unhappy with their approach and feels discussions have been a waste of time but the club remains up for sale."

Staveley's group, which is thought to be backed by money from the Middle East and China, is one of a series of prospective buyers that signed non-disclosure agreements with the club last year.

It made a formal offer for the club in November which, it is understood, could have eventually risen to £300m if certain targets were met.

BBC Sport understands there has been no formal contact between the Ashley and Staveley teams since before Christmas.

BBC     News.