Newcastle for sale as Staveley weighs up move
Ashley wants a purchase before January window Realistic value of club now put at £300m
Amanda Staveley still appears interested in buying Newcastle United, whose owner, Mike Ashley, yesterday finally publicly confirmed he wanted to sell the club and would like to complete a deal before the January transfer window opens.
Staveley, whose PCP Capital Partners firm is understood to control up to £30billion of Middle Eastern wealth, is believed to have identified Newcastle as the most viable Premier League club to buy, although a deal is some way off.
The leading financier has failed in two attempts to buy Liverpool, most recently offering at least £1.2 billion, so could easily afford Newcastle. Staveley also played a key role in Sheikh Mansour’s takeover of Manchester City in 2008 and has strong links with the North and, according to sources, understands the potential at Newcastle and the scale of the club.
Newcastle released a statement yesterday that confirmed what was widely known. There have been several interested parties discussing a takeover but Staveley would appear to be the strongest option.
The financier attended Newcastle’s recent home match against Liverpool and spoke to club officials. There has not been much movement since, but that is possibly partly because Staveley is involved in a near-£1billion lawsuit she has brought against Barclays, which is to go to court in London.
According to sources, once that is out of the way it is likely the dealmaker will turn her attention to Newcastle, although there are other clubs of interest.
The Daily Telegraph understands a number of potential buyers have signed non-disclosure agreements that prevent them from discussing a takeover attempt, although there are conflicting reports regarding how much the club would cost. Talk of Chinese investment has receded, given the change of policy there with regard to buying foreign sports teams.
It had been initially thought that Ashley had lowered the asking price to less than £400million, but that has been denied privately by those close to the talks, with suggestions it remains around £450million, which is likely to deter all but those with huge financial backing – although for PCP it would not amount to a big deal. But, acthe cording to sources, a more realistic valuation would be closer to £300million. It is known, however, that no negotiations have taken place on price, so a figure remains speculative.
The desire to sell helps to explain why Ashley was so unwilling to spend extra money in the transfer window, something which frustrated manager Rafa Benitez.
club statement read: “As a result of increasing press speculation regarding the future of Newcastle United, the owner of the club, St James Holdings Limited, wishes to clarify its intentions.
“To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale.
“To give an incoming owner the maximum possible flexibility to make meaningful investment in the club, including in its playing squad, the sale process will give interested parties the opportunity of deferring substantial payments.
“A process will now commence of identifying new ownership for the club that will be capable of delivering the sustained investment in and dedication to the club that is necessary for it to achieve its ambitions.”