EPL: Newcastle Close To Takeover

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A deal is close for the takeover of Premier League club Newcastle United, Sky Sports News understands.

Owner Mike Ashley and Amanda Staveley’s PCP Capital Partners have been in talks about a deal for some time and Sky Sports News is investigating reports an increased offer of around £300m has been submitted.

Ashley and Staveley met face to face for the first time last week to discuss her initial offer of around £250m for the club, which had been made almost a month ago.

Sources close to Staveley have told Sky Sports News a deal has still to be agreed and nothing has been signed.

Any deal is unlikely to be completed before the end of the January transfer window, but the timing will not affect Newcastle’s transfer business over the next six weeks.

Staveley and PCP Capital Partners are yet to lodge any paperwork with the Premier League and they will have to adhere to a number of rules and policies before taking control.

These include prospective new owners meeting the Premier League Board and providing evidence of funding to complete the investment.

At the Premier League’s 2017 Annual General Meeting, clubs also agreed to strengthen certain rules regarding ownership of Premier League clubs.

Ashley has been in charge of Newcastle for a decade, a spell that has seen the club bounce between the Premier League and Sky Bet Championship.

Newcastle have taken only one point from their last seven games to drop into 16th place ahead of their clash with Everton at Goodison Park on Wednesday.

Source: Skysports

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