Breaking News – Mike Ashley Wants To Sell Newcastle Quickly

The Times are reporting today that Newcastle owner Mike Ashley wants to sell the club quickly.

If that news is true it’s very good news for the club – but we’ll have to wait and see

The news is that Ashley does not want to invest in the team in the January transfer window and so he wants a quick sale done – presumably before the end of the year so the new owners are in place by January.

The news a few days ago that Amanda Staveley wanted to buy the club before the end of the year now makes a lot more sense.

There have been a number of articles this week that say now would be a good time for Mike Ashley to sell the club since he doesn’t want to invest any more money into Newcastle.

Amanda Staveley runs the PCP Capital Partners Group – the new face of Newcastle United?

Now we know why Rafa was upset last summer when only £12M net was invested to bring in new players.

The Times are reporting there are at least three groups who have signed non-disclosure agreements and may want to buy Newcastle United.

One of them is Amanda Staveley.

Amanda runs PCP Capital Partners and she will be the lead buyer, but will get other investment from some Middle East investors.

For the past few weeks, the would-be buyers have been looking at Newcastle’s financial books and they should be in good shape.

Justin Barnes was brought in earlier this year to ensure the books were in good shape and if necessary a quick deal could be done.

And the due diligence part is usually the longest part of any acquisition or merger.

That’s because buyers want to know exactly what the financial status of the company (club) is and don’t want any surprises once they have bought the club.

As it happens, back in May of 2007 when Mike Ashley bought the club he didn’t do a very thorough job of due diligence and found out later the club owed £100M that he knew nothing about.

That was reported in the Evening Standard back then.

This sounds like good news for Newcastle but we’ll just have to wait and see what transpires in the next few days and weeks.

Hopefully, all of this could mean we have new owners come January.

Hope so.

9 comments so far

  • jesperfuglsang - capt'n awesome of the lemon crew

    Oct 7, 2017 at 8:32 AM

    Comment #1

    Still all just speculation…and the papers are still just running the same stories without any real substance…

    …write something when you actually have something concrete to share!

  • KernowToon

    Oct 7, 2017 at 8:41 AM

    Comment #2

    Whats that guys problem

  • Jib

    Oct 7, 2017 at 8:52 AM

    Comment #3

    Jesper is shit-scared Ashley is going sell up
    He’ll have nowt to say if that happens
    He’s a serial whiner

  • RolandoOverhead

    Oct 7, 2017 at 9:09 AM

    Comment #4

    My main concern is whether this HMRC debacle with Charnley could potentially scupper any possible deal

  • jane

    Oct 7, 2017 at 9:18 AM

    Comment #5

    it must have been hard for Ed to decide whether to use Amanda or Mike’s photo.

  • matias

    Oct 7, 2017 at 10:44 AM

    Comment #6

    Thank god it looks like Rafa is going to steer us clear of relegation scrap early cause this may well end up with NUFC having a disinterested owner in charge come January. Hope they really can make the deal before the Jan window.

  • toonluvva

    Oct 7, 2017 at 12:27 PM

    Comment #7

    Just wondering if a HMRC investigation into NUFC could lead to a bigger one into SportsDirect.

    That might have Mr Ashley a little concerned.

  • brklyngeordie

    Oct 7, 2017 at 7:30 PM

    Comment #8

    This is glorious news can you imagine this present for the Boxing Day matches the uplift for the club and fans going into the new year would be as if we won a cup honestly I will still pray that Ashley and someone with good intentions and more ambition will buy the club but the signs look good.. Btw I said at end of window the lack of investment smells of that of a man looking to sell and make as much possible and invest not another penny into the club

  • voodoo85

    Oct 8, 2017 at 6:00 AM

    Comment #9

    All speculation and only good news if the grass is greener on the other side


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