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Mike Ashley releases statement in response to Newcastle United takeover collapse

5 days ago
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Mike Ashley has reacted to the statement released on Thursday.

That joint statement (see below) from the consortium looking to buy Newcastle United, having stated that the deal had collapsed.

Fair to say nobody had any great expectations regarding the Premier League and / or Mike Ashley giving any clarification but here goes…

A very brief statement released by Mike Ashley on Friday morning via his gofer Lee Charnley, as reported by the man covering NUFC for Sky Sports:

Keith Downie of Sky Sports via Twitter:

The Sky Sports man reporting Lee Charnley Friday morning statement:

“We acknowledge yesterday’s statement [from the Saudi PIF backed bidders].

“Never say never, but to be clear Mike Ashley is 100% committed to this deal (sale).

“However our current focus must now be on supporting Steve Bruce in the transfer market and on the preparations for the new season.”

Keith Downie adding:

“While this doesn’t say much, it’s the very first time Newcastle United have spoken on the record since the deal was agreed with the Saudi consortium back in April.”

Mike Ashley committed ‘100%’ to selling the club is a positive and I actually believe him this time!

Unlike the 12+ years before reaching that agreement with the Saudi PIF.

I note there is no mention of 100% support in the transfer market this summer, although I would believe that as much as Rafa getting ‘every penny’…

Hopefully at least there will be some of the £17m deposit the Saudis paid, used to buy players. That cash non-refundable if the bidders pulled out.

The circus continues.

The joint statement released by PIF, PCP Capital Partners and Reuben Brothers on Thursday 30 July 2020:

With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.

We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the Club to the position of its history, tradition and fans’ merit.

Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable.

To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.

As an autonomous and purely commercial investor, our focus was on building long-term value for the Club, its fans and the community as we remained committed to collaboration, practicality and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the Club.

Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the Club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities.

As often occurs with proposed investments in uncertain periods, time itself became an enemy of the transaction, particularly during this difficult phase marked by the many real challenges facing us all from Covid-19.

We feel great compassion for the Newcastle United fans with whom we shared a great commitment to help Newcastle United harness its tremendous potential and build upon its impressive and historic legacy while working closely with the local community.

We would like to say that we truly appreciated your incredible expressions of support and your patience throughout this process. We are sorry it is not to be.

We wish the team and everyone associated with it much good luck and success.’

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