Takeover talk has been resurrected once more in Newcastle, and considering the figures that are being bandied about, you can forgive the Toon Army for getting excited – as a huge takeover deal looks to be going ahead.
Reports earlier this month claimed the Saudi Arabian Public Investment Fund (PiF) was moving closer to a £300m takeover of the club from Mike Ashley – which now seems to be a £350m takeover of the club with Amanda Staveley’s PCP group as the ‘face’ of the deal.
Combine that with movement on Companies House that indicate talks between Ashley and Staveley, and fans have been talking.
After a number of false dawns, could this finally be the moment Magpies fans have long been waiting for?
Billionaire Ashley has often expressed his willingness to sell the club, but has yet to confirm that any talks have taken place over the latest offer.
The Saudi fund, headed by Yasir Al-Rumayyan, is rumoured to be teaming up with businesswomen Amanda Staveley, a long-time pursuer of the club. Along with the billionaire Reuben brothers, they had reportedly registered a company called NCUK Investment Limited – but focus remains on a company linked to a Toon takeover last year – Staveley’s Cantervale Limited, which ties in a Reuben company and PiF funding.
Together – that represents funding from Staveley, the Saudi PiF and the Reuben Brothers, in a complex web of an arrangement.
Companies House documents filed by Ashley’s lawyers and his company St James Holdings have agreed to loan a sum of at least £150m to Staveley’s company, while legal framework for the massive deal is being set up.
Newcastle United owner Mike Ashley during the FA Cup Fourth Round Replay match between Oxford United and Newcastle United
It hasn’t yet been confirmed, but it is a lot of evidence that hints at takeover action.
Until a takeover is confirmed, it is unclear how much each party would actually put into the club. But the Saudi fund…