Staveley leads charge in Toon takeover
PCP ON RIGHT TRACK AS CHINESE INTEREST WANES
AMANDA Staveley is believed to be leading the way in the race to take over at Newcastle United.
Owner Mike Ashley has made it clear he would like a sale concluded by Christmas, and while that will require some rapid work behind the scenes at St James’ Park, there have been no hitches so far since Staveley’s PCP Partners group signed a non-disclosure agreement.
Four other parties also signed NDAs once it became known in the business world that United owner Ashley was open to the idea of a sale.
However, the Chronicle understands that despite some early interest from China, that now appears to have waned and PCP Partners could have a clear run at buying the Magpies in the next few months.
There has also been interest from investors in the United States and Ashley’s legal representatives have stated that talks with other parties are still ongoing.
But things moved forward last week when a £300million valuation was set by PCP Partners and work on preparing a formal offer also got underway.
For now, the word at United on a day to day basis has been “business as usual” but Ashley’s legal team in the capital will be tasked with any further public announcements from here on in.
What seems abundantly clear is that most Newcastle supporters want to see Staveley succeed in her bid and since she first appeared in the stands at the Liverpool game, plenty of goodwill has come the way of PCP Partners as fans wait for the next significant step in a potential takeover.
The popularity of Staveley’s bid is understandable given that the talk coming from the Middle East – where the money set to ploughed into Newcastle is expected to come from – is that Newcastle will be run in a similar manner to the model adopted at Manchester City. Staveley was part of the takeover process at Eastlands back in 2008 when Sheikh Mansour arrived into the Premier League. The 44-year-old said: “The experience I gained has been instrumental in preparing me for the investment I wish to make now in the same league.” If the takeover is completed by Christmas, it would be great news for Rafa Benitez as he will be afforded a competitive transfer kitty for the January window which would allow him to build on a solid start in the Premier League so far.