‘Bizarre’ – Exclusive: Big reported Newcastle takeover update baffles Mills
Danny Mills is baffled by the timing of the prospective Newcastle United takeover with football clubs facing great financial uncertainty amid the coronavirus pandemic.
The former England international, speaking exclusively to Football Insider, suggested the impact of the virus on Mike Ashley’s other businesses may have forced the current owner into brokering a deal.
The Mail reported today that the £300million Saudi-led takeover of Newcastle brokered by Amanda Staveley has moved a step closer after a deposit to buy the club was paid.
Once the Premier League has ratified the deal the takeover will be complete with all the required legal documentation being presented to Companies House.
Football clubs across Europe have been feeling the financial squeeze with all fixtures currently suspended and a return date still not set in stone for the Premier League’s return.
The Magpies were the first English top-flight club to furlough their non-playing staff after the Coronavirus Job Retention Scheme was launched by the government.
Mills was surprised that the PCP Partners went through with the deal give the current financial climate.
“The timing is bizarre,” he told Football Insider.
“We do not know if the league is going to be cancelled, if fixtures are going to be played behind closed doors or if the Premier League is going to have to pay money back to broadcasters.
“The takeover has been on and off for 10 years with different investors.
“Amanda Staveley is very sharp – the top echelon of business and what she does. It now looks like the takeover will go through.
“This group may have seen an opportunity, perhaps Mike Ashley’s other businesses are struggling and they have taken advantage of that.”
Football Insider understands the Premier League is making preparations for a resumption of fixtures in mid-June with players likely to be asked to return to training by their clubs in mid-May.
However, with the UK’s lockdown measures being extended until May 7 last week and the possibility of a further extension, fears still exist over a potential premature completion of the season.
In other Newcastle United news, Alex Bruce has told Football Insider reported £30million target is well-liked by his father.