Tuesday 21 November 2017 18:45, UK
Amanda Staveley wants a relegation compensation clause included in her deal to buy Newcastle United, Sky Sports News understands.
The present offer from Staveley's PCP Partners has payment schedules linked to Newcastle's performances on the pitch, according to Sky sources, with Rafa Benitez's squad needing to achieve a series of tough targets for the deal to be worth close to £300m.
And the prospect of refunding the buyers a substantial sum if Newcastle were to be relegated at the end of this campaign, is unlikely to be acceptable to current Magpies owner Mike Ashley.
Initial reports that Staveley's PCP Capital group had been granted exclusive negotiating rights by Ashley appear to be premature.
It is thought a deal without performance caveats, with payments of £60m a year over five years, would be more palatable for Ashley, although some way short of the £400m he told Sky Sports that he wanted in August.
Sky News revealed on Monday that Staveley's PCP Capital Partners had offered a formal bid last week approaching £300m for the Premier League club.
Denton's solicitors, acting for Ashley will continue negotiations with Staveley's solicitors Freshfields to try to find a compromise deal, ideally before Christmas.
Sky Sports News understands both sides remain convinced a deal can be agreed in the coming weeks, with a new bid from PCP Capital possible before the end of the week.
Corporate finance expert David Buik spoke to Sky Sports News and believes Staveley and her advisors are 'trying it on' with their offer.
He said: "I think Amanda Staveley and her advisors are trying it on because everyone knows the huge differential in terms of finance you get for being in the Premiership. It is massive.
"If I was Mike Ashley, it is the greatest possible catchment area and in my opinion it is worth at least £380m. Amanda Staveley doesn't deal with 'rank-and-file' people.
"She deals with rich people and they aren't going to spend their money unwisely, but if you really want to make a statement in the Premiership you have to step up to the plate."
