Newcastle takeover: PCP Capital Partners in advanced talks with Mike Ashley – Sky Sports, Skysports.com

            

                    

                Amanda Staveley’s PCP Partners are in advanced talks with Mike Ashley

                                   

PCP Capital Partners are in advanced talks with Mike Ashley to end his 18 – year tenure as owner of Newcastle United, according to sources directly involved in the takeover.

        

This follows significant Companies House legal documentation that emerged on Tuesday morning, proving legal framework for a deal was being put in place by the two parties.

Sky Sports News reported in January

Amanda Staveley’s PCP Partners and the Saudi Public Investment Firm (PIF) were in talks to buy Newcastle . It is unclear as to why there is no mention of PIF in any of the Companies House documentation.

Supplementary documentation has led to claims Ashley is lending PCP money to help complete the deal. It has always been the case Ashley was willing to structure payments in a bid to reach a sale.

Sky Sports News has contacted Newcastle for comment.

Staveley had failed with a bid to buy the club in 11678 , following lengthy negotiations.

A relegation compensation clause was understood to be a sticking point at one stage in the talks.

Ashley, who is currently in the US, has been in control at St James’ Park since purchasing a majority stake in the club in 2007.

Newcastle have been twice relegated from the Premier League during Ashley’s reign, with supporters protesting on numerous occasions against his ownership.

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