Amanda Staveley Newcastle blow as financier faces battle to convince Mike Ashley to accept takeover bid
AMANDA STAVELEY faces a battle to convince Mike Ashley to accept her Newcastle takeover package.
Staveley's recent offer is just shy of £300million - including a clause which grants them compensation should the Toon be relegated this season.
But Ashley - who has floated a valuation nearer £400m - is not willing to do a deal with the Yorkshirewoman’s PCP Capital Partners firm with that clause inserted.
So Staveley will have to change her terms if she wants to take control of Newcastle.
Dialogue between the two parties is continuing and both are keen for a deal to take place.
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Amanda Staveley's consortium are looking to take control at St James' Park
But Staveley's PCP company have not yet been granted a period of exclusivity from Ashley, meaning other parties could still potentially come in with counter offers.
Given the shortage of time for a complex deal to be done, it looks unlikely at this stage that a takeover will be completed by Christmas - Ashley's initial time-frame.
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And that could mean a frustrating January transfer window for Rafa Benitez, who would have little cash to spend if Ashley was still in power.
Staveley signed a non-disclosure agreement last month and her bid has come after looking over the Toon's books.
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Her offer is lower than Ashley's asking price because of the current HMRC investigation into Newcastle, which could result in the club receiving a significant fine.
Should the takeover be successful, Staveley would be the Toon's new owner but the money she has offered is a combination of her own equity and that of PCP's major investors, including funds based in the Middle East.
The slow pace of the proposed takeover will be frustrating for manager Benitez as the January transfer window approaches.
Benitez will know the current owner is hardly likely to want to fund major investment in players when he is about to sell up.
And that could be a blow with the Spaniard aware Premier League survival is far from guaranteed despite the club settling back into the top flight better than expected.
