The Star is reporting in an exclusive today that talks between PCP Capital partners and Newcastle have gone well.
Significant progress is said to have been made last week with Newcastle representatives holding meetings with Staveley and her team in London.
And the news from the Gulf is that the potential owners are extremely keen to bring out the full potential of Newcastle United and will be investing heavily in the squad once the deal is finalized.
The goal is still to complete the deal before January, but both parties will have to move quickly to achieve that since at some point the Premier League have to get involved to do their reviews and that can take some time.
PCP and other groups are in the process of doing due diligence at the moment, but we expect the financial records of Newcastle to be in good order.
Mike Ashley – Newcastle owner
The Star is reporting that Rafa Benitez will receive more than £100M when the transfer window opens in January – assuming the deal is done.
The three positions that need strengthening are left-back, midfielder and a striker – so there’s no change there.
The main thing that has to happen after due diligence is complete is to agree on a price so the two sides can then move ahead quickly.
PCP Capital Partners value the club at around £300M so there are still some negotiations to do on whether Mike Ashley will accept anything lower than £400M.
Things are looking very promising at the moment with progress being made.
And while this is all going on Rafa has been able to keep the players concentrated on football and picking up the points in the Premier League.
Next up are Burnley at Turf Moor on Monday night and if we can win that game, we will be flying.
Behind the scenes, the Chronicle are reporting Rafa is excited about the potential takeover.
Given what he’s done for Newcastle in a short 18 months he deserves everything coming his way so he can make Newcastle United great again.