As various would-be buyers are reported to be in the due diligence phase of a possible takeover, we haven’t heard too much new news on the Newcastle sale over the last week or so.
But there’ a piece in the Mail today from Charlie Sale about the possible sale (sorry – I couldn’t resist that) and he thinks Amanda Staveley and her PCP Partners group are now in pole position to buy Newcastle United.
That was the news in the Chronicle last week but there is still a price to be negotiated – but the Mail report says a sale by Christmas is still possible.
Amanda Staveley – potential new Newcastle owner
But things will have to start moving very quickly if that is to happen.
Here’s a piece from the Mail report today::
“It is looking like Amanda Staveley’s PCP Partners are in pole position to buy Newcastle United — possibly before Christmas — with no rival bidder having emerged.”
“The mooted Chinese interest is more likely to be connected with the Staveley bid and involves interests in eGaming, which is a massive business in the Far East.”
“Staveley is still to agree terms with Mike Ashley, who wants £400M — around £100M more than PCP’s valuation.”
There was news that Ashley would take £380M to make a quick sale happen so it remains to be seen if there can be an agreement on price.
That will be the next shoe to fall, given that no surprises were discovered in the due diligence phase.
To complete the deal by the end of the year is still difficult though.
That will also depend to some extent on how good a job Justin Barnes has done: he was brought in by Ashley earlier this year to find a buyer and also ensure the financial books were in good order for a quick sale.
What do you think?