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BNG offer to buy Newcastle United is £70m short after Mike Ashley raises price – Sky Sports

1 month ago
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What we know for sure is that after over a decade of pretending to try and sell Newcastle United, Mike Ashley did agree to sell the club to the Saudi PIF financed consortium.

A price agreed and seller and buyers signed a contract.

However, as you may have heard…the Premier League sat on their approval process for 17 weeks without making a decision.

The Athletic talked to Amanda Staveley after the consortium pulled their offer at the end of July and amongst what they reported then:

‘The decision to pull out was agreed by all parties but led by PIF.

Ashley asked for more money after the June 26 completion deadline had expired, raising the £300 million price, although Staveley told The Athletic “that is absolutely not the issue”…’

Basically, the agreed price the Saudi PIF bid had agreed to pay, had a time limit and with the Premier League delaying and delaying, that time limit ran out. Amanda Staveley said that the consortium agreed to the new raised Mike Ashley price, though didn’t specify what it was.

Monday afternoon has now seen Sky Sports update us on the reported takeover attempt by the Bellagraph Nova Group.

Keith Downie covers Newcastle United for Sky Sports and he says that whilst he is always sceptical in these type of situations…he has seen the documentation provided by BNG, detailing a £280m.

The only problem being, Downie understands that Mike Ashley will reject the £280m bid because he wants £70m more. The Sky Sports man says that his information is that Ashley wants £350m, presumably the boosted amount he demanded from the Saudi PIF consortium, after the time limit ran out on their agreed £300m deal.

Who knows whether BNG are serious about their interest in Newcastle United.

However, the worry has to be that Mike Ashley refuses to see the reality, no matter who might bid for the club. To believe that despite the virus situation, Newcastle United have INCREASED in value, takes some doing. With the state of the club, on and off the pitch, due to the lack of care and attention AND proper investment these past 13 years, any new prospective owner would surely see a £350m figure as totally unrealistic.

Keith Downie of Sky Sports reporting:

“This is the sixth bid, the sixth group linked with a takeover of Newcastle United football club, since Mike Ashley officially put them up for sale some three years ago, back in October 2017.

“Still big question marks regarding Bellagraph Nova’s claims they’ve bid £280m to buy NUFC.

“I’m always sceptical of anything that’s made public so freely and quickly.

“But Mike Ashley’s lawyers have held talks with BN and I’ve seen documentation that supports their claims.

“The docs contain £280m offer, letter of intent, and 29 page document with detailed financials.

“However, that £280m offer falls short of what Ashley values the club.

“NUFC have yet to formally react.

“They have made that bid of £280m but as I understand it, Mike Ashley looking for closer to £350m. 

“So although it hasn’t been rejected yet, I understand it will be, then it will be up this French based group to then go back to Newcastle United and Mike Ashley’s lawyers with a bigger bid.”

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