Festive deal hopes fade

NewCastle United found themselves on the pages of the Financial times over the weekend as takeover talk continues at st James’ Park.

there was no sign of amanda staveley or even Mike ashley at the 3-0 loss to watford on saturday, but discussions remain ongoing between the pair’s solicitors, with the current owner’s Christmas deadline for a sale fast approaching.

the Financial times feels the prospect of a done deal in time for the festive period is now looking “less certain” despite supporters hoping there will be new faces in the boardroom soon.

It also claims the opening bid came 10 days ago and was around £260million – a figure that is yet to be confirmed officially by anybody at Newcastle United.

a second bid is expected, but PCP Capital Partners’ last offer included several clauses around the price, including a reduction if the club are relegated and arrangements should Newcastle be hit with any sanctions as a result of the HMRC investigation which could go on for another year.

PCP Capital Partners’ cash is set to come from the Middle east, according to the report, which read: “Questions remain over her latest approach for NUFC, not least around the identity of investors in the PCP fund bidding for the club.

“while Ms staveley has lined up investors from Dubai and saudi arabia, those with knowledge of the situation say much will depend on the structure of a successful bid.

“PCP could finance a smaller sum, or a deal via instalments, with no outside investors.

“Mr ashley’s allies, meanwhile, have expressed frustration that publication of selective details of Ms staveley’s offer, which they regard as untenably low and riddled with conditionality, could raise unrealistic hopes among fans.”