Amanda Staveley and PCP Capital Partners move closer to Newcastle takeover after tabling opening offer... but Mike Ashley is set to reject bid which is lower than reported £300m
- PCP Capital Partners are fronted by businesswoman Amanda Staveley
- They have been working through the due diligence process since last month
- Now the Middle East investment fund have now tabled an initial offer
- Mike Ashley is set to reject the bid, which falls well short of owner's valuation
Amanda Staveley and PCP Capital Partners have moved closer to a takeover of Newcastle United after making an opening offer - but Mike Ashley is set to reject the approach.
The Middle East and Chinese investment fund - fronted by the Yorkshire businesswoman - have been working through the due diligence process since last month and have now tabled an initial bid.
However, Sportsmail understands that Magpies owner Ashley was furious at reports which emerged on Monday night suggesting the figure was in the region of £300million.
Amanda Staveley and PCP Capital Partners have tabled an opening offer for Newcastle
Mike Ashley is furious at reports suggesting the figure was in the region of £300million
Sources close to the club insist it is way lower than that and Staveley will need to return with an improved offer if there is to be progress. It is thought the deal is complicated by clauses in the event of relegation.
Ashley still wants to sell the club but will do so on his terms, which could include an advertising package for Sports Direct.
If a takeover is completed - and sources close to the deal are 'confident' it will be - then we understand Staveley, 44, will be installed as the new head of the club.
Negotiations will now continue but hopes of a deal being completed by Christmas have rescinded given the disparity in valuation.
Manager Rafa Benitez, meanwhile, is desperate for new owners to arrive before January to enable him to invest in a team which has lost three on the spin in the Premier League.
Sources close to the club insists Staveley will need to return with an improved offer
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