NEWCASTLE owner Mike Ashley is in talks with Amanda Staveley’s PCP Capital Group as documents show the Saudi royal family’s £340million takeover is going ahead.
A 31-page ‘registration of charge’ document has been filed with Companies House involving both Staveley’s firm and Ashley’s St James’ Holdings company.
Mike Ashley is in talks with Amanda Staveley’s PCP Capital Group as documents reveal proof of takeover discussionsCredit: EPA
SunSport reported earlier this year that Saudi Arabia’s Crown Prince Mohammed bin Salman had entered talks to buy out AshleyCredit: AFP or licensors
Dubai-based financier Staveley was registered to facilitate the dealCredit: PA:Empics Sport
PCP Capital Partners is the small Mayfair financial advisory firm runs by Staveley which helped broker Sheikh Mansour’s £210million takeover of Man City in 2008.
The man behind today’s move is believed to be Saudi Prince Mohammed bin Salman, one of the richest men in the world.
The Saudi Prince is making a £340million bid, via the Saudi royal family’s Public Investment Fund, to buy Newcastle and is working with a consortium set up by Staveley.
SunSport reported earlier this year that bin Salman had entered talks to buy out Ashley.
The Public Investment Fund would own 80 per cent of the club in the proposed deal, with a further 10 per cent belonging to Staveley’s PCP Capital, and 10 per cent to property developers the Reuben brothers.
It was reported that the takeover is “90 per cent certain” after a shell company created by Dubai-based financier Staveley was registered to facilitate the deal.
The Daily Telegraph recently claimed a deal is near completion after the Premier League was informed a bid from a Saudi Arabian consortium.
Simon Reuben, left, and David Reuben are part of a consortium interested in taking over NewcastleCredit: Getty – Contributor
Stavely’s interest in Newcastle dates back to 2017, when she was pictured with Ashley at a London curry house, at a meeting set up by media mogul Richard Desmond.
However she failed in a takeover bid in 2018 when she failed to meet Ashley’s asking price of £400million.
The latest documents show a charge registered to PCP Partners and Ashley’s St James’ Holdings, which is listed as the lender.
Shields Gazette report the document suggest Ashley is “essentially helping to fund Staveley’s bid to purchase the club”.
The document shows that St James Holdings is agreeing to loan at least £150million to Staveley’s company – a way of Ashley helping to fund a deal.
It would mean Ashley retains money in the club that would be paid back in the future but is relieved of control over the day-to-day running of the club.
Experts believe it shows Ashley is negotiating his way out of the club, as any money retained in Newcastle would be paid back in future.
British billionaire brothers David and Simon Reuben are also involved in the takeover.
The Reuben real estate magnates are worth £18.7billion and were last year named as the UK’s second-richest family.
Newcastle would have £200million to spend on new players if the takeover is completed.
SunSport exclusively revealed that a return for Rafa Benitez is also being targeted as part of the takeover plans.
How Newcastle could line up under Rafa Benitez with Koulibaly and Sancho after Saudi takeover of club
Source: Soccer - thesun.co.uk
