There’s an informative article put out by the Telegraph and Luke Edwards, in which they have tried to level set what’s happening with the potential takeover at Newcastle.
There’s been a bevy of new reports over the last week, but the Staveley and Ashley seem to have made precious little progress over the previous two weeks.
It was the Telegraph last week who reported there was a second bidder in addition to Amanda Staveley, but that was not reported much at all by other outlets.
Staveley and Ashley – make love (make that a deal) –
The news today is that the communication with the second bidder has made no progress.
This is some of the Telegraph report:
“As revealed by Telegraph Sport, Ashley had been hoping initial contact from another interested party last week would lead to a rival bid.”
“But those talks have also failed to progress and Staveley’s offer remains the only one on the table.”
“A source close to the talks has told Telegraph Sport that both Ashley and Staveley are refusing to budge.”
“And the deal could be wrecked by the fact neither wants to be seen to buckle as they haggle over a price.”
That could be a phantom second bidder since that news has not been reported widely elsewhere by the press.
The bid between Staveley and Ashley is deadlocked and the only change to Staveley’s offer of around two weeks ago is the money will be paid in one installment up front.
That’s instead of performance-related payments over time.
However, the two parties still seem to be miles apart with neither one willing to back down.
Amanda Staveley has reportedly said she will not walk away from the deal, but the onus must be on her to improve her offer since Ashley did not think the proposal of two weeks ago was a serious one.
Ashley is beginning to question whether Staveley is serious about buying the club, but sources close to the head of PCP Capital Partners group have said she is still keen to buy the club.
There’s a possibility Staveley could walk away, and she could do that even before the end of the year if there is no progress on the deal.
The disaster scenario is we could be left with Mike Ashley as the owner, which is why the next few weeks seem critical if any deal is to be agreed.