Amanda Staveley’s potential takeover of Newcastle United could collapse unless there is a significant increase on the initial £300million bid, according to The Telegraph.
Staveley and PCP Capital Partners made the bid on Monday, but their valuation is much lower than that of current owner Mike Ashley.
Ashley has reportedly challenged Staveley to come back with a serious bid, one that would see a large increase from the initial £300million, or he may take the club off the market.
The Sports Direct mogul is said to be unwilling to let a potential takeover hang over the club for the whole season, and wants any deal to be struck as soon as possible.
Ashley is refusing to be pushed around, and will only sell the club at a price that he believes is fair.
He is also said to be unhappy that details of the bid were leaked, with both parties signing non-disclosure agreements before negotiations began.
OPINION
It will severely dishearten Newcastle fans to hear that Staveley’s potential takeover could collapse before it has even begun, but Ashley was never going to be an easy customer. The businessman has been at the club for 10 years now, and has invested millions of pounds into the Magpies. With Staveley and PCP the only serious bidders at the current time, Ashley could not really be blamed for ending negotiations if a serious bid fails to materialise. Considering Newcastle’s history, and the current financial climate in which players cost £198million, then surely Staveley realises her bid is way too low to trigger further talks. A second bid will surely be made, but for how much? We will have to wait and see.