Report makes fascinating claim over agreement in Newcastle takeover talks
By Russell Edge
Amanda Stavely and PCP Capital Partners signed a non-disclosure agreement with Newcastle United over a week ago to further discussions of a potential takeover, according to a report.
The Chronicle claim on their website that the international financier agreed to the terms with the club “around 10 days ago”, which is fascinating as it means that she and her company have been in formal discussions longer than initially thought.
Newcastle announced on Monday 16th October that they had been put up for sale by Mike Ashley, via a statement released by St James’ Holdings Limited, but this new report suggests Staveley had already entered talks prior to the announcement.
Friday saw the Chronicle claim that she had signed the nondisclosure agreement, having previously reported that four other parties had also entered the same stage of discussions, and that PCP Capital Partners have now begun a period of due diligence, where they will examine the assets of the business and establish an estimated value.
The Newcastle-based newspaper state that this process could take up to a month before a formal bid is tabled, with Reuters having claimed that Staveley is prepared to offer in the region of £300million for the club, investing a further £150million in the transfer market should she take over.
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