Newcastle Takeover ‘Agreed’ As £300m Deal Nears Completion

The proposed sale of Newcastle United has reportedly moved a step closer to completion with a £300million deal agreed.
According to The Times, current owner Mike Ashley has agreed to sell the club to a consortium led by financier Amanda Staveley.
It is claimed the Premier League has been informed and both parties are happy with the terms of the potential deal.
Staveley has previously tried to lead a takeover bid and failed but is now involved with Saudi Arabia’s Public Investment Fund and the Rueben brother, who are interested in buying the club.
New documents filed on April 8, which became public this morning, showed a “registration of charge’ between Staveleys PCP Capital Partners and a long-time associate of controversial owner Ashley, Justin Barnes.
Section 4.14.5 of the charge, used when a company is offering some kind of loan, shows that St James Holdings will loan a sum of at least £150million to Staveley’s company.
This suggests Ashley is helping fund a deal to sell the club he has owned since 2007.
Paperwork has been filed to the Premier League, indicating PiF’s pursuit of the club is more advanced than last summer’s alleged attempt by the Bin Zayed Group of Dubai.
With talks believed to be at an advanced stage, it has now been claimed a deal has been agreed and Ashley’s controversial 13-year tenure is a step closer to being over.
Ashley has enraged fans in recent years and become an unpopular figure on Tyneside.
The club has drawn criticism in recent weeks for furloughing staff amid the coronavirus crisis, whilst also angering fans by not halting season-ticket payments when the Premier League campaign was halted.
Whilst Newcastle fans have been keen to avoid jumping the gun and getting their hopes up after last year’s alleged takeover fell through, it seems Staveley is now a step closer to leading a change of hands at St James’ Park.

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