Ashley’s looking to sell up by Christmas
NEWCASTLE owner Mike Ashley is desperate for a quick sale of the club and wants it off his hands by Christmas. It has been known since the summer that the sports retail tycoon is keen to end his 10-year association with Newcastle. But after a series of ploys failed to yield any serious interest — including a leaked story of potential Chinese investment — he has publicly confirmed his intentions.
In a bid to speed up the process, Ashley — a former Rangers shareholder — has offered any potential buyers the chance to defer payments, although the asking price remains in the region of £400million.
However, his ‘buy now, pay later’ concession has revealed just how desperate the 53-year-old is to get rid of the club after a troubled decade on Tyneside.
In June, it was reported that Chinese investors wanted to buy the club. Sportsmail has since learned it was a tactic to flush out real interest. That has not been forthcoming and, while the appearance of financier Amanda Staveley at the home game against Liverpool a fortnight ago led to much speculation, the club has heard nothing from her since.
In the meantime, court papers have revealed how HMRC raided St James’ Park in April because they feared evidence of ‘systematic abuse of the tax system’ would be destroyed had the club been forewarned. That investigation is ongoing.
Ashley, though, will use the presence of manager Rafa Benitez to tempt would-be suitors. The Spaniard angered the owner during the transfer window when he repeatedly claimed that he had been misled over investment in the playing squad.
Ashley would have fired previous managers for such public outbursts but, given his desire to sell the club, he gritted his teeth because Benitez has global appeal.
The manager will be hoping that new owners do emerge before his own relationship with Ashley deteriorates further.
On the field, Benitez has the team looking like a solid top-flight outfit after last season’s promotion and Sunday’s 2-2 draw at Southampton left them ninth in the Premier League table.
Given that the 52,000-capacity stadium is sold out every week and it is a one-club city with a worldwide reputation, investors should be queuing up.
It is thought that four parties have already signed nondisclosure agreements, but Ashley’s latest move would suggest that none of those are likely buyers and he may have to reluctantly lower his asking price.
Ashley’s lawyer, Andrew Henderson, said: ‘Our intentions at the moment are to see if the club can be brought forward into new ownership by potentially Christmas.
‘There is a genuine desire from our point of view to make sure that the club is put in the best possible position going forward.
‘If that means us helping with additional funds being available in the short term, we would seek to accommodate that.’