News of progress on Newcastle United’s takeover had gone quiet for a couple of weeks – before it shot back on to the agenda over the weekend.
Suggestions that a sale was imminent and could even be announced this week was premature, however, despite Mike Ashley having formally placed the club on the market last month and stressed his desire to offload United by Christmas.
It is understood that Amanda Staveley and her PCP Capital Partners firm continue to conduct due diligence at St James’ Park and remain the frontrunners, despite other parties having signed non-disclosure agreements with the club as well.
The next significant step will be for one of the interested parties to actually make a formal offer – something which it is understood has not yet arrived – and then attempt to negotiate a price with Ashley.
The Sports Direct magnate is believed to value Newcastle at close to £400million, though it is claimed that PCP Partners view £300m as a more-realistic figure, and therefore negotiations over a price could prove exhaustive.
But, if and when a bid is made, what needs to happen before any prospective buyer actually becomes owner of Newcastle United? Could a Christmas deadline still be plausible? And when must a takeover occur take place by in order for Rafa Benitez to potentially receive an increased January-transfer budget?
Ashley must accept an offer
PCP Partners, or indeed another one of the interested parties, could make a…