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Newcastle To Set Up New Process For Potential Buyers Of Club

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?

Comments welcome.

23 comments so far

  • Lindisfarne

    Mar 23, 2019 at 9:58 AM

    Comment #1

    FCB get out of our club!

  • Corv

    Mar 23, 2019 at 9:59 AM

    Comment #2

    Think you’re a week early with this article Ed as the 1st of April is still a week away.

  • RobLeenio

    Mar 23, 2019 at 10:17 AM

    Comment #3

    Doesn’t sound like much new – doesn’t he already ask for proof of funds? Surely anything else would be kinda irrelevant.

  • AncientC

    Mar 23, 2019 at 10:21 AM

    Comment #4

    “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.”

    That’s an expensive publicity stunt! I think I will take Staveley’s word over Mike Ashley’s; this is a lady that facilitated the sale of Manchester City, not forgetting.

  • ronaldo aarons

    Mar 23, 2019 at 10:22 AM

    Comment #5

    Mike Ashley doesn’t want leaks about a takeover? It would help if he weren’t the source of these leaks during live interview on tv.

    Still don’t go with this Amanda Stavely publicity stunt either. My view is she was more genuine than kenyon by going with reports at the time.

    Anyway. In the words of our fellow esteemed blog posters… maybe 8th time the charm?

  • Ron Knee

    Mar 23, 2019 at 10:27 AM

    Comment #6

    Amanda Staveley’s group carried out due diligence so it was an expensive stunt – if that’s what it was.

  • AncientC

    Mar 23, 2019 at 10:29 AM

    Comment #7

    Mike Ashley always seems to break new ground in top tier football.
    Free advertising.
    New accounting techniques not seen before (Championship wages).
    And now—if this story is true—the first to do due diligence on would be buyers.

    Suspicious would be understating it. It must be expensive/stressful knocking out all those non-disclosure agreements and praying that they hold.

  • RobLeenio

    Mar 23, 2019 at 10:40 AM

    Comment #8

    Re Beardsley, what can the FA actually do to him? A fine, a blow to his reputation, maybe strip him of his coaching license. I doubt that any of these things will impact the man greatly – I think his time as a coach is over anyway, following these events.

    I’d like to see him given some kind of ambassadorial role at the club, relaunch his punditry career. Surely if the odious Robbie Savage can make a successful career on telly, a player who shone like a star above the majority of his generation can do something similar.

  • Munster Mag

    Mar 23, 2019 at 10:47 AM

    Comment #9

    Rob that’s a load of bollocks mate. You want to give a bloke with those questions hanging over him, an ambassadorial role? Wtf wud that say to people about nufc?

  • yogz69

    Mar 23, 2019 at 10:49 AM

    Comment #10

    Beardsley is finished with the club after this I’m afraid, I’m not even that fussed to see him on telly doing punditry tbh.

  • Just a fan

    Mar 23, 2019 at 11:13 AM

    Comment #11

    With players going for hundreds of millions three hundred million doesn’t seem that expensive for the club.
    Or is that just me.

  • toon22

    Mar 23, 2019 at 11:45 AM

    Comment #12

    Like hes even tried to sell the club

    He seems happy to chuck money at anything shop wise

    But us,we seem to struggle to spend when little he allows us to make as a club

    Funny that

    Hes no intention of selling us,were making him money

  • Munster Mag

    Mar 23, 2019 at 11:47 AM

    Comment #13

    I didn’t realise Fraser Robertson died? What was cause of destj. Seemed like a lovely fellow, RIP.

  • toon22

    Mar 23, 2019 at 11:47 AM

    Comment #14


    I wouldnt be surprised if he was making money out of all the due diligence


  • toon22

    Mar 23, 2019 at 11:48 AM

    Comment #15

    Looks like next season transfer budget is going to buy us Debenhams

  • Jib

    Mar 23, 2019 at 12:12 PM

    Comment #16

    Big C

  • sing in the corner

    Mar 23, 2019 at 12:20 PM

    Comment #17

    Crikey, didn’t realise ROI only won one game in 8 in the last year..!
    I would like to see Mick Mc do alright there. Seems a basically nice, straight talking and down to worth chap. And he’s English isn’t he?

  • Jib

    Mar 23, 2019 at 12:21 PM

    Comment #18

    From the Chronic
    I know there’s plenty of cynicism out there about takeovers,
    but this is my understanding.
    There remains a high level of interest in Newcastle and in
    football circles it’s seen as a mystery why no-one credible
    has yet come up with an offer to tempt Ashley. But it’s my
    understanding that one of the groups who expressed an
    interest came up with a conservative estimate that £450M
    would be needed in funds to buy the club and then provide
    it with the capital to make the necessary improvements.
    The £450m includes the price Ashley is charging – £250-300m
    – plus the capital required to make infrastructure changes, squad
    upgrades and the necessary staffing and building costs.
    That is well, well above the kind of capital available to
    Peter Kenyon or Amanda Staveley – and really requires
    someone with serious wealth.
    There is interest, but whether anyone with that kind of finance
    is out there remains to be seen. All eyes should be on the Gulf.

  • geordietom

    Mar 23, 2019 at 12:25 PM

    Comment #19

    Now looks 60-40 in favour of Rafa Benitez agreeing some kind of Newcastle United extension
    this is in the Mag …

  • Mister Tuff

    Mar 23, 2019 at 12:29 PM

    Comment #20

    What can the FA do to Beardsley?

    Well for a start the FA Tribunal will adjudge whether he is guilty or innocent.
    (If there are five witnesses against him it probably does not look too good).

    Why the FA has got this now is a bit curious. (I recall some years ago a middle range club down the south failed to correctly look into something similar and the FA got involved – and anti- racism groups and the club got pelters – tried to locate the case but failed).

    After dealing with Beardsley I strongly suspect the FA will investigate the club – so some really bad PR probably coming our way.

    It is established now in law that “banter” as an excuse for such things holds no water.

    There is an impression on here from some that the real culprit is El Mhanni.

    Innocent ambassador no problem. Racist ambassador – not a good idea.

    At least some resolution will be revealed in the coming weeks.

  • cyprus

    Mar 23, 2019 at 12:50 PM

    Comment #21

    All these paupers lining up.

    Unless you are richer than the current owner, willing to blow vast amounts to get us in Europa minimum, never check price tags, don’t bother.

  • sing in the corner

    Mar 23, 2019 at 1:34 PM

    Comment #22

    U23s two nowt up at half time against table topping Wolves.
    Keep it up lads!

  • Munster Mag

    Mar 23, 2019 at 6:37 PM

    Comment #23

    Sitc, mick is second generation Irish and very proud of it as he said recently. He has an Irish passport. There again, a brit one will be like a thorn in your arse soon. That’s why so many brits are trying to get one of our ones.


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