Newcastle takeover: PCP Partners in advanced talks with Mike Ashley

PCP Partners are in advanced talks with Mike Ashley to end his 13-year tenure as owner of Newcastle United, according to sources directly involved in the takeover.

This follows significant Companies House legal documentation that emerged on Tuesday morning, proving that legal framework for a deal was being put in place by the two parties.

Sky Sports News reported in January that Amanda Staveley and the Saudi Public Investment Firm (PIF) were in talks to buy Newcastle. It is unclear as to why there is no mention of PIF in any of the Companies House documentation.

Supplementary documentation has led to claims that Ashley is lending PCP money to help complete the deal. It has always been the case that Ashley was willing to structure payments in a bid to reach a sale.

Staveley had failed with an initial bid to buy the club in 2017.

More to follow…

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