MX23RW : Monday, December 16 01:12:12| >> :120:10996:10996:

Mike Ashley all but gives up hope of pushing through Newcastle takeover

Mike Ashley all but gives up hope of pushing through Newcastle takeover
© Reuters
The sportswear magnate remains keen to sell the club.

Mike Ashley is bracing himself to remain at the Newcastle helm next season after all but giving up hope of pushing through a takeover.

The Sports Direct tycoon is working to keep alive talks with Amanda Staveley's largely Saudi-funded consortium, although they have shown little appetite for resolving the issues which prompted them to withdraw their £340million bid for the club last month.

That decision came amid a hiatus in the Premier League's owners' and directors' test amid disquiet over the consortium's links to the Saudi state and TV piracy.

Staveley's PCP Capital partners, who are backed by Saudi Arabia's Public Investment Fund and the Reuben Brothers, had paid a £17million deposit, around £9million of which has been forfeited as a result.

The Paris-based Bellagraph Nova Group's interest, which emerged in the wake of Staveley's withdrawal, has never progressed past Ashley's legal team with the sportswear magnate only willing to engage with prospective buyers once he has proof of funds and a sizeable deposit.

Newcastle Takeover
Mike Ashley is set to remain in control at Newcastle (PA)

An offer of £280million never came close to earning BNG, who claimed to have enlisted the support of former Newcastle skipper Alan Shearer, a seat around the negotiating table and the PA news agency understands that avenue is no longer being pursued.

American businessman Henry Mauriss made a verbal offer of £350million as PCP's exclusivity period expired, but that has yet to be firmed up and the clock is ticking.

It is understood the Ashley camp is seeking definitive answers within days, but the Magpies owner is resigning himself to yet another season of ownership having dared to believe his search for a buyer might finally be approaching a successful conclusion.

His reign currently extends to more than 13 years, a period for much of which the club has been up for sale, but remains on the shelf.

Arsenal v Chelsea – Heads Up FA Cup Final – Wembley Stadium
Rob Holding is being linked with a loan move to Newcastle (Catherine Ivill/PA)

In the meantime, it is he who will have to fund what limited transfer business head coach Steve Bruce will be able to do this summer.

Goalkeeper Mark Gillespie and Republic of Ireland midfielder Jeff Hendrick have already been added to the squad, while Newcastle are also hoping to seal a loan deal for Arsenal defender Rob Holding.

However, their real need is in attack with last summer's £40million summer signing Joelinton having managed just two Premier League goals, Andy Carroll struggling to stay fit and Dwight Gayle facing a spell on the sidelines with a knee injury.

ID:412377: cacheID:412377:1false2false3false:QQ:: from db desktop :LenBod:restore:7076:
Written by
P A
Restore Data
Share this article now:
Michael Owen is unveiled by Newcastle after joining in 2005
Read Next:
On this day in 2005: Newcastle sign Michael Owen in shock club-record deal
>
rhs 2.0
Today's games header
Tables header RHS
TeamPWDLFAGDPTS
1Liverpool15113131131836
2Chelsea16104237191834
3Arsenal1686229151430
4Nottingham ForestNott'm Forest168442119228
5Manchester CityMan City168352823527
6Aston Villa167452425-125
7Bournemouth157352320324
8Fulham166642422224
9Brighton & Hove AlbionBrighton166642625124
10Tottenham HotspurSpurs1672736191723
11Brentford167273230223
12Newcastle UnitedNewcastle166552321223
13Manchester UnitedMan Utd166462119222
14West Ham UnitedWest Ham155372028-818
15Crystal Palace163761721-416
16Everton153661421-715
17Leicester CityLeicester163582134-1314
18Ipswich TownIpswich162681628-1212
19Wolverhampton WanderersWolves1623112440-169
20Southampton1612131136-255


Sports Mole provides in-depth previews and predictions for every match from the biggest leagues and competitions in world football.
Argentina's Lionel Messi kisses the World Cup trophy after collecting the Golden Ball award on December 18, 2022Sign up for our FREE daily preview newsletter direct to your inbox!