Monday night saw Sky News break the story (see below) that Amanda Staveley had put in a former offer ‘in the region of £300m’ for Newcastle United.
A number of media, including the Press Association and Chronicle, reported confirmation that an offer had indeed been received by Mike Ashley.
However, later on Monday, it has now been reported that Ashley is set to instantly reject the bid for a number of reasons.
Chief amongst these is that The Mail say that the Sports Direct supremo is ‘furious’ that it has been claimed the bid is as high as £300m, with ‘sources close to the club insist it is way lower than that’.
In addition to the actual amount offered, The Mail say that another major problem is the inclusion of ‘clauses in the event of relegation’.
I doubt any of us thought this was going to be easy and Mike Ashley will surely wring every last drop of value out of any deal in his favour. To that end, the newspaper report says that ongoing promotion of Sports Direct could also be part of any settlement.
The Independent have also followed The Mail in reporting that their sources have told them that the offer is way short of the £300m suggested tonight, which makes it way way short of the £380m Ashley is said to want.
In brighter news, The Mail say that despite the differences between the two parties on this opening offer, there is still confidence that a deal will be agreed eventually.
‘Amanda Staveley and PCP Capital Partners have moved closer to a takeover of Newcastle United after making an opening offer – but Mike Ashley is set to reject the approach.
The Middle East and Chinese investment fund – fronted by the Yorkshire businesswoman – have been working through the due diligence process since last month and have now tabled an initial bid.
However, Sportsmail understands that Magpies owner Ashley was furious at reports which emerged on Monday night suggesting the figure was in the region of £300million.
Sources close to the club insist it is way lower than that and Staveley will need to return with an improved offer if there is to be progress. It is thought the deal is complicated by clauses in the event of relegation.
Ashley still wants to sell the club but will do so on his terms, which could include an advertising package for Sports Direct.
If a takeover is completed – and sources close to the deal are ‘confident’ it will be – then we understand Staveley, 44, will be installed as the new head of the club.
Negotiations will now continue but hopes of a deal being completed by Christmas have rescinded given the disparity in valuation.’
The Mag – Earlier tonight (20 November 2017):
Amanda Staveley has made a ‘formal takeover bid’ for Newcastle United.
Sky News are reporting that Staveley’s company PCP Partners have made an offer ‘in the region of £300m’.
As part of their formal offer it is said they want ‘exclusivity on talks’.
“PCP Partners headed by Amanda Staveley has tabled a formal takeover bid for Newcastle United Football Club in the region of £300m and they hope to get exclusivity on talks this week.”
It is exactly 50 days since she attended the Newcastle v Liverpool match and was first introduced to Mike Ashley’s representatives at the club.
That introduction was said to be not arranged and contact information exchanged.
However, since then, Mike Ashley made public that the football club was up for sale.
This then followed by reports that Amanda Staveley and a number of other unnamed potential buyers had signed non-disclosure agreements.
That allowed interested parties to examine the books ahead of a prospective bid.
Little else has been on the minds of Newcastle fans so hopefully this is the next stage towards Mike Ashley leaving Newcastle United.