After another season in which it looked like Newcastle could be sold and Mike Ashley would leave the club – it hasn’t happened.
But there’s an interesting report in the Chronicle today that the club ate setting up a new internal process for new would-be buyers of the club.
Rather than waste time (and money) and allow all groups to do due diligence Newcastle will first do their own due diligence on potential buyers.
That’s before allowing them to take a deep dive into reviewing the Newcastle financials.
When Amanda Staveley tried to buy the club in late 2017, she never had the money, and it now seems in retrospect more of a publicity stunt for her PCP Capital Partners Group.
While the attempt by Peter Kenyon late last year was more professional and serious, Peter still was nowhere near getting the £300M necessary to buy the club.
Mike Ashley – will initially vet potential buyers of the club
So rather than go through long drawn out due-diligence phases, Newcastle are trying to quicken and streamline the process.
Ashley doesn’t want to waste time on buyers who don’t have the money to buy the club, and they are bidding for other reasons.
It also cost Newcastle money to entertain the bids over the last couple of years.
Ashley also wants more confidentiality in the process and no leaks of information by potential buyers,
Newcastle are still available for sale, and the way the club will be sold is quickly and only when a buyer is serious about buying the famous club.
That means the deal will be done quickly and with secrecy before other buyers (and even fans) realize what’s happening.
This sounds a good move by Newcastle and that Ashley may still want to sell the club.
It also explains why Rafa Benitez is so keen for Newcastle to finish as high up the league table as possible so the club will be an attractive acquisition this summer.
What do you think?