Good News On Potential Acquisition – PCP Capital Partners Serious – Real Progress Being Made


There’s some potentially good news this morning about the potential takeover of Newcastle by Amanda Staveley and her PCP Capital Partner Financial group.

The news is in the Chronicle, and it’s that Staveley’s group requested copies of financial accounts that date back a full 27 years.

That’s back to 1990 at the time we were in the second division.

But that to us means that PCP Capital Partners are only being thorough and are also serious about buying Newcastle United.

It’s part of the due diligence process going on, and that can take some time depending on how deep a dive into the financial records potential buyers want to go.

Amanda Staveley – potential new owner at Newcastle

But this news does indicate that PCP Capital Partners are really serious about buying Newcastle.

The deep dive into the records includes looking at things like past transfer dealings and past sponsorship agreements and the like.

There is still no formal bid from the Staveley group, and that would be the next big news if the acquisition is to go ahead.

Mike Ashley wants a minimum of £380M and Amanda’s group is willing to bid £300M.

In October, lawyer Andrew Henderson on behalf of Mike Ashley said the following on Sky Sports:

“Our intentions are to see if the club can be bought by new ownership, potentially by Christmas.”

“This would allow seriously interested parties to put themselves forward.”

“It would allow a diligence period to carry on, then hopefully by Christmas a sale could be concluded.”

That doesn’t mean the deal can be done by Christmas.

But it also doesn’t mean that if the deal is not done by the end of the year, it will be called off.

It’s simply a “potential” date that both groups are working towards, and that date could slip.

The other good news is the Premier League are reported to be well aware of the interest of PCP Capital Partners in buying Newcastle.

They are ready to perform their “fit and proper person” review when the deal has been agreed by both parties.

Comments welcome.



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10 comments so far

  • Jail for Ashley

    Nov 19, 2017 at 9:05 AM

    Comment #1

    Smileypooemoji!

    0
  • Frank pingles come sock

    Nov 19, 2017 at 9:08 AM

    Comment #2

    Lee Ryder …… “google due dillegance”

    0
  • beermonkey

    Nov 19, 2017 at 9:14 AM

    Comment #3

    jail

    how did arrons and murphy get on yest from what i saw murphy did ok but i couldnt watch all the game

    2
  • magscar

    Nov 19, 2017 at 9:16 AM

    Comment #4

    Well a defeat as most were fearing but some good play at times and didn’t feel disgraced. 9 times out of 10 the big money club will win and so it proved. Nice to see Gayle get one. Pity we couldn’t have got to half time without being behind but tactics and hard work against the same but with better quality tells.

    We move on to Watford but without Hayden? Merino back or Diame in then? Week to work on shape and tactics and look for 3 points

    If Ed reads Blog presumably he doesn’t want to out Shire 🙂

    0
  • beermonkey

    Nov 19, 2017 at 9:25 AM

    Comment #5

    sunderland become the first team in English football history to go without a home win in 20 GAMES
    pards must be gutted he didnt win that honour with us
    and he tried so hard

    11
  • Jail for Ashley

    Nov 19, 2017 at 9:30 AM

    Comment #6

    beer,
    Murphy was actually ok but his inexperience saw him make some very poor final decisions. We were dead and buried by the time Mitro and Aarons came on.

    3
  • Slank

    Nov 19, 2017 at 9:52 AM

    Comment #7

    Not disappointed with the result as it was predicted. Our track record there is very poor and I doubt will get any better as ManU have the money and prestige to buy the very best and it showed. Class overcame effort in the end.

    The positives:

    Gayle looked sharper than he has done all season. The technique he showed in scoring was of the highest order.

    Murphy, having given the impression of a rabbit caught in the headlights in previous games, showed why Rafa bought him. He just needs more games to build his confidence.

    Aarons will have welcomed the opportunity. He didn’t disappoint.

    Yedlin was very good and showed a blistering turn of speed for the goal. Needs more of that in they future.

    Shelvey played well with some good passing.

    Rafa got the setup right but in the end class prevailed over effort and tactics.

    Negatives:

    Elliott seemed hesitant on a number of occasions. An injury or missing the influence of Lascelles ? Time for Darlow ?

    Manquillo is not better than Mbemba. Spanish favouritism? Mbemba is wasted on the bench. I’m sure he could easily play in midfield instead of Hayden.

    Ritchie and Hayden don’t seem to have kicked on from last season. Lots of effort and commitment from both but that cutting edge so often seen last season is missing.

    Joselu also hasn’t kicked on since his early promise. Spanish favouritism again ?

    Mitrovich didn’t look interested which is disappointing given how poor Joselu has been.

    Missing but not Forgotten:

    Lascelles was missed. Lejeune and Clark tried their best but ManU had too much firepower.

    Merino was missed too. His all round play is far better than Hayden. The midfield looks more dynamic when he and Shelvey play together. For away games I would sacrifice our No 10 (Perez or Joselu) for either Hayden or Mbemba.

    5
  • Christopher Asprilla

    Nov 19, 2017 at 12:14 PM

    Comment #8

    An announcement needs to be made by the club or even PCP that negotiations are ongoing. This uncertainty surrounding the whole situation where we’re in this position of confusion not knowing whether our dreams could come true or if this is all just another Ashley smokescreen is spilling onto the pitch and if we can’t pick up 6 points in our next three or four games there will be no chance of a takeover until at least the summer because we’ll be right in the relegation battle. Due diligence means you cannot divulge private information to other parties until the business is bought it doesn’t stop PCP coming out and giving a statement that the are in discussions. The same goes for the club . Either way the decision has to be made because the longer this drags on the more excuses Ashley has not to spend in the next window and Rafa or no Rafa we’d be lucky to stay up if there’s no investment. Looking into the books going that far back is great news if it’s to be believed because it means that the books they’ve received must have been dealt with and any little faults they’ve found haven’t put off there interest. In all honesty a win against Watford next week would see us move to 17 points and if this backlog of club accounts can be scoured within a fortnight there’s nothing to stop a bid coming in by early December. That would leave to small a time for negotiations in Ashley’s eyes unless PCP go in with a high bid . That’s unlikely and I can see us cashing in on Mitrovic and buying only two new players in January and hopefully getting a few loans. Then it will be the long cold winter and spring to see if we stay up. Typical Newcastle dreamland or bust. If it’s bust then Ashley will eventually ruin our beautiful club but dreamland would be just that!

    1
  • Cram-mag

    Nov 19, 2017 at 12:29 PM

    Comment #9

    How is this good news? It’s Ryder in the Chronicle. All parties have signed an NDR. Pure guess work this.

    0
  • Big Archie

    Nov 19, 2017 at 6:50 PM

    Comment #10

    Asking for 27 years of accounts proves nothing. They would not sign an DNA and enter due diligence if they were not serious.

    The question is not whether or not THEY are serious. The question should be is Ashley serious?

    Is he willing to come down from 380 million?

    This buyer is not at all interested in Ashleys desire to make a profit. They will put a value on the club and offer an appropriate amount.

    Plus, I somehow don’t think Ashleys offer to let them pay in instalments will interest Stavely’s lot at all.

    Our best hope is that agreement is reached on an increased price if the club performs well, and stays up for, say 3 years of premier payments.

    2

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