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BBC Sport report £300m Newcastle United Takeover now ‘very close’ – The Times sources backing it up

6 months ago
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On a fast moving day of growing Newcastle United Takeover anticipation / hopes, BBC Sport have now updated on what is happening.

Tuesday morning kicked off with a number of documents going public at Companies House (see here), via various companies owned/operated by Amanda Staveley and the Reuben brothers, with Mike Ashley and his people named in a number of them.

The consensus across the media that this equated to various steps being taken, that would then facilitate a Newcastle United Takeover actually happening.

Reports have been more and more encouraging throughout the day with Sky Sports reporting that they had been told by sources close to the deal that talks were at an advanced stage, whilst George Caulkin of The Athletic says he also understands we are almost there.

Now BBC Sport have reported that their information is that the NUFC Takeover is ‘very close’ and they understand the price that has been agreed is £300m.

Their report adds that the Premier League have begun the process of carrying out checks for the owners and directors test.

They also approached Newcastle United and Amanda Staveley but they both refused to comment.

Sports finance expert Kieran Maguire told BBC Sport:

“These are steps you’d expect to take place in respect of a takeover, it seems that things have accelerated.

“The trouble with Mike Ashley is that until you see the final documents, it’s never completed but the other parties would not waste their time like this unless there had been progress in terms of a takeover.”

The Times have backed up what BBC Sport have been told, with the newspaper saying their sources have also told them the price is £300m, They also state that their information is that both sides have told the Premier League that they are happy with the terms of the deal and so now it appears to be a case of waiting for the authorities to approve the deal.

Meanwhile, Sky Sports have also supplied a new update on Tuesday evening, they say that their information is that the deal that has been agreed, will a previously claimed, see the Saudi PIF control the club with an 80% shareholding, with the Reuben brothers and Amanda Staveley having 10% each.

They add that ‘sources on one side of the deal’ have now confirmed to them that an agreement in principle is in place, with it a cash deal up front’, rather than earlier misleading claims of some of the money paid in instalments. That confusion due to a misunderstanding of what was in the documents that went public at Companies House today.

Sky Sports say that this same source ‘tells us Amanda Staveley’s Saudi-backed consortium has earmarked significant investment into the club’ and that the virus pandemic has had an impact on the price the club will be sold for, the price closer to £300m rather than the £350m Mike Ashley was originally hoping to get.

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