Newcastle takeover latest as Mike Ashley holds advanced talks with PCP Partners
Mike Ashley is in advanced talks to sell Newcastle United – documents filed today prove.
The tycoon's 13 year ownership of the Tyneside club is closer than ever to an end.
Financier Amanda Staveley and Ashley this morning lodged papers with Companies House proving a sale is progressing and nearing its end game.
She is leading a group 80pc financed by the Public Investment Fund of Saudi Arabia, and including the mega-rich Reuben brothers to take control of St James' Park.
Ashley bought Newcastle for £133m in 2007, and has a £110m interest free loan helping finance the club.
Official documents filed by Ashley's lawyers and his company St James Holdings have agreed to loan a sum of at least £150m to Staveley's company.
The “registration of a charge” was filed on April 8 and emerged this morning. A charge is the security a company gives for a loan.
Ashley had been looking to sell for £350m, with £200m paid up front. This move could be paving the way for that structure.
Ashley bought Newcastle in 2007 for £133m and has a £110m interest free loan lodged in the club.
It could be Ashley's way of speeding through a deal. Neither party have commented.
A deposit of £13m also appears to have been made by the Staveley camp.
Either way, the documents prove serious and advanced talks have been underway for some time and nearing completion.
But a deal has yet to be done, according to both sides.
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