The Chronicle Live’s chief Newcastle United writer Lee Ryder took part in a question and answers session with some of the club’s supporters via their website. One of the questions posed to him was: ‘Isn’t it clear that something is afoot? The “no bid” stance from Ashley’s side isn’t sustainable.’
To which Ryder replied: ‘The stance coming from the Ashley side of things seems to be towards the Staveley camp: “OK you’re interested, where’s the money then? Where’s the transaction? Why haven’t you done something you’ve talked about for a good two or three years now?”
Remember, Ashley has spoken before – via sources – that it was a waste of his time. He also hates stories on takeovers or transfers getting into the Press before they are done.’
TIF Tactics – Is Ashley’s departure edging closer?
Newcastle United were the first Premier League club to put their staff on furlough earlier this week as they look to protect their future after the recent viral outbreak brought the world of football to an abrupt halt. It’s also emerged that the Premier League have now been officially informed that Saudi Arabia’s Public Investment Fund is attempting to buy out Mike Ashley (via The Guardian).
The sovereign wealth fund would acquire an 80% stake with a 10% holding being owned by Amanda Staveley’s Dubai-based PCP Capital and the remainder covered by the Reuben Brothers, one of Britain’s wealthiest families.
If the Premier League receive the relevant paperwork from Ashley stating he wants to sell his stake to the consortium it would initiate the “fit and proper persons test” which is done on prospective owners and is designed to ensure the funds are in place.
Are you confident of a deal being completed in the not too distant future?
Yes
No
Sources inside Mike Ashley’s Sports Direct have claimed that the businessman is increasingly keen to sell his stake in Newcastle United and ‘wants done with it’ (via the Daily Mail). The 55-year-old has been an unpopular figure for quite some time now and there have been multiple protests staged by the club’s supporters in opposition to his ownership.
The Magpies are currently in 13th place in the Premier League but they are a long way from being the side that took part in the UEFA Champions League under Sir Bobby Robson.