There’s a good report in the Mirror today that quotes that Mike Ashley’s (very) famous “source”, is telling the Mirror there is no proof that Amanda Staveley has the funds to buy Newcastle.
Mike Ashley says that yes – it’s all good reading what she talks about – but he has so far seen no proof that the PCP Capital Partners CEO has the hard cash necessary to buy Newcastle United.
If’ that’s the case then Amanda Staveley should deposit funds in escrow to prove to the Newcastle owner she is serious about the acquisition and indeed has the cash backing to buy the famous Tyneside club.
As we recall she said she would do that earlier last week.
Hi Mike – this is Amanda again – about that acquisition…..
This is what a source close to Ashley has said in the Mirror:
“Mike feels that Amanda Staveley, who he has no problem with as an individual, has played out the attempt to take over the club in public.”
“Most deals he has been involved in have been struck behind closed doors with the announcement arriving after they’re concluded.”
“He has seen all the promises of future investment in the club from her and he knows it makes good reading.”
“But quite simply he hasn’t seen proof that the money is in place and has effectively pulled the plug until that situation changes.”
The mergers and acquisitions I was involved in during my time at IBM were always super-secret.
Non-disclosures were signed since we told the company where we are headed with our new products and how the company we wanted to buy would fit into that overall strategy.
And you couldn’t say a peep to anybody.
It was all done secretly and we would meet with the takeover target in some remote city so nobody would be aware of what was happening.
That seems to be the way Mike Ashley has done his takeover business and there have been a number of acquisitions with his Sports Direct company.
It’s also good he has no problem with Amanda as an individual – and that he has (only) pulled the plug until that situation changes.
Maybe he will still sell to her.