There is a detailed report in the Middle East’s “National” publication which says that Amanda Staveley has submitted her second offer for Newcastle United but it still below £300M.
However, the consortium led by Amanda Staveley is now willing to pay the full amount up front and not in installments which was part of the initial offer.
Mike Ashley has still to officially respond to Amanda’s latest offer, and both parties are reported to be in discussions, and Mike Ashley himself is now actively involved in those negotiations.
That means this is getting serious.
This is some of the National report:
“Dubai financier Amanda Staveley’s second offer to buy Newcastle United is at an amount below £300 million but crucially she is willing to pay this amount in one lump sum rather than in installments, a source close to negotiations said.”
“When announcing his intention to sell last month, Mr. Ashley had signaled he would accept payment in installments and was said to be seeking between £350M and £400M.”
“The Daily Mail said on Tuesday (today) that Mr. Ashley was furious over media reports suggesting that the offered figure was in the region of £300M, insisting it is “way lower than that”.”
“However, the figure is “not much lower” than £300m, a source close to the negotiations told The National on Tuesday, and the one-off payment would allow Mr. Ashley to walk away free and clear immediately.”
“The investors behind the deal include both Gulf and Chinese parties.” “Law firm Dentons is representing Mr. Ashley, however, he is understood to be very much in charge of the negotiations from his side,”
“PCP Capital Partners declined to comment while no one at Newcastle could be reached.”
It’s getting serious now with Mike Ashley fully involved and the amount he has put into Newcastle over the years is said to be £267M, so if he accepts the second offer, he would make a profit of around £30M.
There could possibly be an agreement on a sale this week – but that seems unlikely with all the haggling going on about an initial price.
But let’s hope so – and the Mike Ashley era could soon be over at Newcastle.
After an agreement in principle is reached there still needs to be more weeks of due diligence to be carried out.
And then the Premier League’s own tests to decide if Ms. Staveley, who would be the Principal Owner of the club – is a fit and proper person to run Newcastle United.