The Mail (Craig Hope) are reporting that a second group based in Dubai is interested in buying Newcastle and they are engaged in due diligence on Newcastle’s financial accounts.
The takeover led by Dubai-based Amanda Staveley and her PCP Capital Partners Group has stalled significantly, and the two parties cannot agree on a price.
Staveley has bid around £250M, and Mike Ashley wants at least £300M, but there has been deadlock for several weeks now.
This second Middle East investor has been reported to have been monitoring the situation at Newcastle.
Mike Ashley – Newcastle owner
The British-based investment company, Blackbridge Cross Borders, have been chosen as the group that will make a formal offer for Newcastle from this group, but not until we are safe from relegation.
They have already contacted Ashley’s lawyers about their interest in buying Newcastle.
There seems to be a mess this month on how Newcastle will improve their squad to help stop another relegation, with Rafa Benitez still not sure of the transfer funds he will get from Ashley in this month’s transfer window.
The Mail indicates that the second group are able to meet Mike Ashley’s price, which they say is around £350M.
But again this group will not buy Newcastle now when relegation is still a problem.
If we can win six games, we will hit the magic 40 points mark, which is when some deal could be made – by some investment group.
There has been a little progress over the last four weeks at Newcastle with Amanda Staveley having increased her offer slightly.
The latest offer is now said to be closer to £300M, but that’s it – not a lot of progress in the talks, which are still ongoing.
This is not the first time a second group interested in buying Newcastle has been reported, and Mike Ashley has said he is confident he will get more offers for the club.
We shall see – but the key to the takeover is for Newcastle to be safe as a Premier League club as soon as possible.