Date: 21st November 2017 at 4:32pm
Written by:

By Russell Edge

Takeover talks for Newcastle United between Mike Ashley and Amanda Staveley could collapse after PCP Capital Partners saw their £300million bid rejected, according to a report.

The Telegraph claim on their website that the Sports Direct supremo is looking for a significant increase in the bid tabled after rejecting the initial offer from PCP, judging it as frivolous, and that critical negotiations will be taking place over the coming days, which is expected to end in a second official approach.

However, it is said that if Staveley and her team’s bid is not to Ashley’s expectations, then it could see talks collapse, which in turn would see the Magpies no longer up for sale as the British businesswoman is reported to be the only serious contender.

The report claims that the current owner does not want the distraction of a potential takeover circling the club for the rest of the season which will come as a hammer blow to both the club and the supporters, who will be hoping to see the end of Ashley’s time on Tyneside and hope for progression under the stewardship of a new investor.

The British businessman has been at the helm of the club since buying out both Sir John Hall and Freddie Shepherd’s shares for a collective price in the region of £131million, but is actively seeking to end his decade at St James’ Park, after having officially put the club up for sale earlier in the season.

In other Newcastle United news, a top figure has confirmed the Magpies’ pursuit of a European midfield maestro from these giants.

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