Report – Ms. Staveley Bid £250M For Newcastle With No Clauses


Amanda Staveley has said in her exclusive interview with George Caulkin in the Times that she made three offers for the club in November.

The final one of those is the one still on the table – and she says that’s a straight upfront payment of £250M with no clauses in it.

And the AshleyOut group published a piece yesterday in the Chronicle representing what fans think.

They want Ashley out of the club and for him to sell Newcastle as soon as possible – these additional leaks by Staveley will only put extra pressure on Ashley to do that – we hope.

But beware of Ashley – he can be a very stubborn man.

Amanda Staveley and Mike Ashley – who do you want as owner?

There’s some debate about the £250M bid still on the table from Staveley.

And today a source for Ashley has told Sky Sports (who else?) they are not aware of that bid, which seems strange to say the least.

This is what source close to Mike Ashley told Sky Sports:

”We are not aware of any bid that doesn’t contain relegation clauses and we are not considering any further talks with PCP Capital Partners.”

“Our sole focus is to support Rafa Benitez in the current transfer market with all the resources at our disposal.”

If Ashley is supporting Rafa in this window that’s very good but he waited at least two weeks before doing anything to help the manager, and as far as we know Rafa still doesn’t know what funds he has to spend this month.

The combination of Rafa Benitez managing Newcastle and Amanda Staveley leading the club as Chairman or Chief Executive would seem to give us exactly what we need.

Two ambitious people in charge of Newcastle which we haven’t had since Mike Ashley bought the club almost 11 years ago and we are no longer one of the top clubs in England due to his thrifty ways.

We hope that Ashley will sell the club soon.

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19 comments so far

  • NI_magpie

    Jan 19, 2018 at 8:57 AM

    Comment #1

    We are still yet to see the product of “Ashley’s support”.

    A month long transfer window, with no clarity of a budget (if there even is any) would lead you to believe that the same old vicious circle of buying/loaning short term fixes will continue and Newcastle will continue to struggle in the League.

    2
  • Tsunki

    Jan 19, 2018 at 8:59 AM

    Comment #2

    Rafa is currently digesting a second large helping of Ashley’s remit to Charnley on transfer dealings.

    Yes, he will do it all over again.

    1
  • hibbit

    Jan 19, 2018 at 8:59 AM

    Comment #3

    PCP’s three bids all hand delivered by Chris Morts to Dentons

    £300m, first bid, November 2: £200m on completion. £50m July 1 2018, £50m July 1 2019 — neither paid in the event of relegation. Benítez to stay as manager. Penalty clauses in the event of HMRC fine.
    £350m, second bid, November 10: £150m on completion. £50m January 1 2020 £50m January 1 2021 £50m January 1 2022 £50m in the event of qualifying for the Champions League. Benítez to stay as manager. Penalty clauses in the event of relegation and HMRC fine.
    £250m, third bid, November 17: £250m payable in full. Benítez to stay as manager. No clauses

    6
  • runheed

    Jan 19, 2018 at 9:00 AM

    Comment #4

    “Our sole focus is to support Rafa Benitez in the current transfer market with all the resources at our disposal.”
    Let’s just see what a ‘sole focus’ and ‘all the resources’ means in the remaining days left in the window then.
    I’m not getting too excited…

    2
  • Mag52

    Jan 19, 2018 at 9:00 AM

    Comment #5

    If it’s a choice of believing Ashley or Staveley, I, along with probably another 99% of NUFC supporters will believe the lady in this latest battle of words.

    17
  • sickandtired

    Jan 19, 2018 at 9:05 AM

    Comment #6

    Hats off to Stavely for making one offer with no clauses.

    She’s done her due diligence and taken into account the real threat of another relegation, the unknown outcome or penalties from a HMRC investigation, and the continued under funding of the club and Rafa which will require large new investment.

    250 mil to any sane person seems a very reasonable valuation under the current circumstances. It also proves once again what lies Ashley is prepared to state on TV and through his cronies. He doesn’t care about the club, who a new owner is or their intentions. He simply wants to make a profit and he’s prepared to wreck the club in order to hold out for it.

    18
  • kimbo

    Jan 19, 2018 at 9:07 AM

    Comment #7

    Well if Staveley bids are true why not bid £300million and invest £150million in the team. If Ashley rejects that one then we know it is a publicity stunt.

    8
  • Benton Toon Exile

    Jan 19, 2018 at 9:11 AM

    Comment #8

    They haven’t yet offered what he wants, or willing to accept to sell, and the number looks like nearer £300m with no clauses, why can’t they just get a room and get it done..Ashley doesn’t give one jot for the city or people, he has proved that over and over again…….

    Stroke his ego, tell him how great he is, give him the money to F++++ Off.

    2
  • Dondatta13

    Jan 19, 2018 at 9:12 AM

    Comment #9

    Wrong approach IMHO….

    He will dig in like a tick. If he sold now due to pressure, he will be humiliated in the business world.

    whats the answer, I really have no idea,

    0
  • G

    Jan 19, 2018 at 9:13 AM

    Comment #10

    Off subject, but a mates just text me that Slimani and Sturridge will be signing for us this week. I reckon this is probably bull, but shared anyway.

    0
  • RonVanDam

    Jan 19, 2018 at 9:14 AM

    Comment #11

    Of the 3 options presented by PCP, only the 3rd looks plausible. Why not offer 300m payable in full during signup and 50m on 1 July once TV money is received.
    MA isnt stupid, he’s accounted for the full prize money in his sale price

    1
  • magscar

    Jan 19, 2018 at 9:20 AM

    Comment #12

    From an Express exclusive just a couple of days ago ( Stavely’s mouthpiece in this public negoatiation)

    “Following further talks between the two parties, Staveley is tabling a new offer in excess of £300m.

    There has been no response from Ashley’s camp and it is understood he is waiting until next month’s announcement on the Premier League’s new TV deal before making a decision.”

    Surprising that no mention of this by Caulkin – was offer not tabled then? why? If not made then why mention no response from AShley camp?

    Is this really good for us in current ( and latest) crisis? Just get on with it in private or if not possible then wait until position stabilises and resume discussion through intermediaries not press. Ashley decisively lost the battle for fans souls years ago so no need for public posturing by PCP bidders to win us over.

    1
  • lochinvar

    Jan 19, 2018 at 9:24 AM

    Comment #13

    Kimbo@7
    Well if Staveley bids are true why not bid £300million and invest £150million in the team. If Ashley rejects that one then we know it is a publicity stunt.

    Like the thinking but perhaps we could split the difference say £275m to buy leaving £175 to invest in the club. After all the extra £25m invested could be our January transfer budget !

    1
  • GPPaweyyekna

    Jan 19, 2018 at 9:32 AM

    Comment #14

    For the first time, the investor opens up on her efforts to acquire the club

    exclusive
    George Caulkin, Northern Sports Correspondent
    January 19 2018, 12:01am,
    The Times

    Staveley insists that she has not given up on the hope of completing a takeover
    Staveley insists that she has not given up on the hope of completing a takeover
    MATT LLOYD/REX FEATURES
    Share
    Save
    Amanda Staveley has a few things on the go. At her home and office, around the corner from Hyde Park, she is in the midst of eight deals; a casino in Japan, some real estate in New York. People buzz around her, but this is a hands-on process and she is flitting between meetings, fielding calls. Alexander, her three-year-old son, is here, clutching a model aeroplane, and he wants to play. It does not feel as though Staveley has much time to waste.

    In the downstairs sitting room, there is a wide-screen television, a coffee table crammed with family photographs. There is a picture of her standing alongside Sir Alex Ferguson and Sir Bobby Charlton, sacrilege for a childhood Liverpool supporter, except that PCP Capital Partners, her company, backs the Manchester United Foundation. Upstairs, in a study, is one of Staveley and David Beckham, although Mehrdad, her husband, keeps hiding that.

    This is family and it is business and it is busy, which does not quite tally with the portrayal of Staveley that blundered its way into the public domain this week, as subtle as a sale at Sports Direct, when an anonymous source briefed Sky Sports News that her attempts to buy Newcastle United had “proved to be exhausting, frustrating and a complete waste of time”.

    PCP’S THREE BIDS
    £300m, first bid, November 2: £200m on completion. £50m July 1 2018, £50m July 1 2019 — neither paid in the event of relegation. Benítez to stay as manager. Penalty clauses in the event of HMRC fine.
    £350m, second bid, November 10: £150m on completion. £50m January 1 2020 £50m January 1 2021 £50m January 1 2022 £50m in the event of qualifying for the Champions League. Benítez to stay as manager. Penalty clauses in the event of relegation and HMRC fine.
    £250m, third bid, November 17: £250m payable in full. Benítez to stay as manager. No clauses
    These comments were, the club said — again anonymously — reflective of Mike Ashley’s views.

    Staveley has been stung by that, irked by the suggestion that her pursuit of Newcastle, which has been very open, was nothing more than an exercise in self-publicity. “It is only right to let the fans know that there is no deal on the table or even under discussion with Amanda Staveley and PCP,” the source said, which was news to her. “I’m very much still interested in buying Newcastle,” she says. “And our bid remains on the table.”

    It is the first time that the 44-year-old has spoken publicly about Newcastle since she launched 1,000 headlines and more conspiracy theories by attending their home game against Liverpool on October 1.

    There has been a non-disclosure agreement in place with Newcastle since the middle of that month — her initial bid for the club followed on November 2 — but she feels obliged to defend herself.

    “I’m very concerned, I’m very surprised and I’m disappointed about what’s been said this week,” Staveley says. She is wearing a pale blue jacket, dark trousers, sipping water from a pink plastic bottle, and coffee from a mug. She is agitated and clearly upset. “The suggestion that we were either wasting time or not serious is absurd. It’s hurtful. Hugely hurtful,” she says.

    Newcastle face a battle against relegation and are in desperate need of reinforcements
    Newcastle face a battle against relegation and are in desperate need of reinforcements
    NIGEL RODDIS/GETTY IMAGES
    If she was not serious, why would PCP have made three offers to put Ashley out of his misery after his loveless, contentious 11 years at St James’ Park? Why would she have engaged Chris Mort of Freshfields as her lawyer, a man who worked as Newcastle’s chairman under Ashley? Why would she involve the Reuben family, who have an estimated worth of £13 billion and a significant property portfolio on Tyneside, in her bid? “This is something we’ve been working really hard on,” she says. “It’s not something we’ve just thrown together. I’m putting a lot of my own capital into this and our investors, who come from around the world, include sovereign wealth funds.”

    Her first bid was for £300 million, £200 million up front, the rest payable in two chunks. The second, made on Friday, November 10, was for £350 million, payable in instalments, as the sportswear retailer had encouraged. There would be £150 million on completion followed by £50 million every year after that, with the final tranche dependent on achievement, such as reaching the Champions League. For both were penalty clauses, in the event of demotion or Newcastle being stung by HMRC’s tax investigation into the club.

    There was a third offer on November 17. “Dear Mike,” it began. In this one, £250 million would be paid in full, no caveats, no conditions, no clauses. This was substantially below Ashley’s £350 million valuation, aside from one sense; Staveley is committed to investing another £200 million, at least £100 million on new players across the first two transfer windows and the same again on improving a tired training ground and ineffective academy.

    Ashley and Staveley have only met once, at a curry house
    Ashley and Staveley have only met once, at a curry house
    RICHARD HEATHCOTE/GETTY IMAGES
    PCP brokered the deal that saw Sheikh Mansour buy Manchester City. Staveley has also attempted to buy Liverpool, but Newcastle fits, Newcastle works — so much potential, never realised — and she has been courted by supporters. “They’re such passionate fans and it’s a great club,” she says. “I’m a northerner. My family home is an hour away from St James’ Park. I just love football and Newcastle has a proper history and a real magic.

    “That passion of the fans is vitally important when you’re looking at a club, because you know that you’re a custodian. I’m also a passionate believer in investment in the north east, because I know it’s tough. A lot of great things are happening in the city — we’ve got friends, like the Reubens, who have invested there — and it’s a really special place, with its own identity. It is absolutely unique.”

    PCP is not a charity. “This is an investment, but it has to be a long-term investment,” Staveley says. “Newcastle would be run as a business, but we want it to be a successful, thriving business that is an absolutely integral part of the city.” Equally integral is Rafa Benítez; in each of PCP’s three bids, was a stipulation that the manager must stay and agree to a new contract. “Rafa is doing an incredible job,” Staveley says. “We want Rafa to be part of this project.”

    Staveley says that she still harbours hopes of completing a deal to buy Newcastle
    Staveley says that she still harbours hopes of completing a deal to buy Newcastle
    OWEN HUMPHREYS/PA
    By November 20, it is understood that Mort was confident that a deal might be on at £250 million. At the start of December, Staveley met Ashley at an Indian restaurant in London, brokered by Richard Desmond, the publisher. Pictures appeared in The Sun. “The famous curry house is the only time I’ve met Mike,” Staveley says. “It wasn’t a formal meeting and it was arranged by Mr Desmond. Mike was engaging and interesting. I enjoyed his company.”

    And those photographs? Convenient, no? “I would never had done that,” Staveley says. “If I had, I certainly wouldn’t have been pictured smoking. I hadn’t had a cigarette for years. My dad nearly killed me. There has been a lot of miscommunication through the press, but that’s not my fault. This is football.”

    In the middle of December, Staveley was told that “another bidder” had emerged, prepared, according to Ashley’s people, to pay £350 million. Fine, PCP said, but come back to us if you want to re-engage. Since then, they have heard nothing. Not a single thing. Which, again, hardly fits with the Ashley-sanctioned notion of “exhaustive” discussions. “Where are the other bidders?” Staveley says. “It’s been for sale for three months.”

    Benítez is doing an “incredible job”, according to Staveley
    Benítez is doing an “incredible job”, according to Staveley
    MARTIN RICKETT/PA
    Staveley had not given up. When people asked, the official line was that the process was ongoing, although time was ticking on and there were concerns; PCP would not be able to fund Benítez in this transfer window and the team remain in a precarious position. What happens next? A staging post feels like the next Premier League broadcasting rights. And beyond that, whether Newcastle stay up will be pivotal.

    In the meantime, supporters continue to wait; for something different, something better. It is the loyal 52,000 who squirm and suffer as Benítez attempts to find gold in a nettle patch. Perhaps Staveley could have been the answer. Perhaps she still can. But it has been a bruising week. Will it happen? “I don’t know,” she says. “I hope so.”

    1
  • Black'n'White'n'BroonAllOver

    Jan 19, 2018 at 9:47 AM

    Comment #15

    Not defending Ashley as he’s an obnoxious, lying, greedy slug, and I believe Staveley all day long over Ashley.

    But I would never expect him to accept less (i.e. £250m) than the money he’s put in. Why (in his eyes) would he?

    Yes it’s his own fault he had to put in the £130m, or whatever it was, over the purchase price, and had he invested properly and maximised commercial opportunity he’d have already made his investment back.

    But disregarding his dreadful management of the club, he’s reportedly put in £264m or thereabouts. So £250m was never going to do it whether or not folk think it’s a fair price (which I think it is in light of the free advertising, league position of the club, HMRC situation, funds required to improve the side etc).

    Staveley’s not going to offer £350m no clauses either, if she does she’s a p!ss poor businesswoman. As was suggested many times at the beginning of this saga, she’s confirmed that she’s not brokering a deal on behalf of a sheikh to use as his personal plaything, she’s looking to buy it as PCP, backed by wealthy investors (of whom one may indeed be a sheikh).

    She’ll have presented the investor(s) with a financial plan, the bones of which she suggested in the interview. A sensible, steady growth model, putting real money in for infrastructure and one or two quality transfers per window, but not throwing mega cash around like Mansour or the Qataris.
    I’d imagine this is why the Reubens’ retracted their mooted interest after the £250m was rejected, an increase of purchase price would make investment less attractive.

    It would also be doing, in effect, what Jib has mentioned as his ‘ideal scenario’. Handing the growth and infrastructure of the club (both on- and off-field) to Rafa.

    If PCP offered £300m with no clauses and Ashley turned it down, we’d know that he has no real desire to sell unless he makes a killing. He’d make a small profit, and our nuisance club would be off his hands for good.

    £350m with penalty clauses attached also sounds more than fair to me, but I agree with those who feel he wants a clean break and won’t entertain potential future penalties.

    £250m being rejected out of hand is no surprise to me, since in Ashley’s eyes he’d be losing money. If there’s no increase there won’t be a sale. But I’m still hopeful a compromise deal can be reached around £300m clean.

    Have a feeling this might end up being one of those windows when Mike actually stumps up, if only to make himself look like the magnanimous owner, selflessly digging into his own impoverished pockets to save poor Rafa and the lads.

    Hope I’m not wrong, and hope the useless twunt sells up asap. I don’t like reported comment on Sky Sports about the club not conducting any further talks with PCP.

    Hopefully that’s just bluster from the chubster.

    5
  • Geordie-john

    Jan 19, 2018 at 10:16 AM

    Comment #16

    Well Amanda,
    You might as well increase the bid right now as he has called your bluff and you have fallen for it hook, line and sinker by stating publically that you still want the club. You shouldn’t play poker when the stakes are this high and you crumble at the first hurdle.
    God help us all !

    2
  • sickandtired

    Jan 19, 2018 at 10:25 AM

    Comment #17

    @BlacknWhite – Not sure what you class as a small profit? He’s already had his 29 million back for the first relegation funding. But he loaned it to the club from St James Holdings, so its again added to club debt. When the debt is cleared on a sale he will have been repaid that money twice.
    What right does he have to expect any profit? He’s done nothing to actually create any additional value and the main source of income is PL tv money. He won’t even invest to ensure that status is maintained.

    4
  • james589

    Jan 19, 2018 at 11:06 AM

    Comment #18

    My two cents:

    1) Great to hear from the ‘other side’, but Stavely must realise that £250m isn’t sufficient. The investment cost Ashley c. £234m (£134m purchase price + £100m interest free loan), so £250m would represent ‘only’ a £16m profit in the decade he’s owned the club. Given the change in football finances in that time (TV revenue alone), a 7% return is pretty meagre and Ashley, rightly or wrongly, will expect more (although questionable whether he attributes any value to the free advertising he’s enjoyed over that time).

    2) I think Stavely may have made a bit of a mistake (and whet Ashley’s appetite) by publicly revealing the plan was £250m purchase + £200m investment – Ashley will interpret that as there is £450m in the pot and knowing him he will try and take as much of that himself as possible. Why would he take £250m when he knows there’s another £200m sloshing around? However for us fans, every £ added to the purchase price is a £ less for investment.

    3) The ‘sources close to Ashley’ thing is really, really annoying. Time and again the club has been criticised for not having open lines of communication with fans, they have learned absolutely nothing. They could help the situation immeasurably by issuing a direct and honest official statement.

    4) Stavely saying the offer is still on the table is directly contradictory to the news story that the Reubens (as financers behind the deal) were out. Unless there are other would-be investors, I don’t see how the deal can be still on the table?

    1
  • toonluvva

    Jan 19, 2018 at 12:16 PM

    Comment #19

    There must be a cut off point for the sale of NUFC to go through, and I believe it should be no more than a couple of days away.

    My reasoning is that without further investment in players in this transfer window we are running a huge risk of relegation.

    So can the offer be accepted and Rafa have both the money and the time to strengthen the squad. The longer it goes on the less likely this looks possible.

    Add to this the fact that Mr Ashley is waiting to see how much the TV rights will increase so that he gets PAID even more to shift his SD produce.

    All in all, I doubt that much if anything happens before May.

    If we survive, Mr Ashley will be looking for a lot more than the £350M he is currently looking for.

    0

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