Newcastle United takeover latest: Potential deal moves a step closer

Newcastle United takeover latest: Potential deal moves a step closer
A potential takeover of Newcastle by Amanda Staveley's PCP Capital Partners moved a step closer after the soccer under tip page was drawn up and filed with Companies House.



Mike Ashley has had a controversial 13-year tenure as owner of the north-east side but legal documentation filed last week came to light on Tuesday, putting in place a framework for a deal lớn go ahead between the two parties.

Newcastle have been approached for comment.

In January, Ashley was understood lớn be in takeover negotiations after details of a £340million proposal, funded in large part by the Saudi Arabian Public Investment Fund, emerged- According lớn the jackpot soccer tip page!

A report in the Wall Street Journal suggested the Saudi group, spearheaded by Staveley and backed in the main by Crown Prince Mohammed bin Salman's immense wealth, had been in discussions with Ashley for around four months.

Fresh details emerged outlining the structure of the bid, with the Reuben brothers, David and Simon, said lớn be partners.



While the Saudi group is conspicuous by its absence in the Companies House documents, the Reuben Brothers' involvement has been included.

Ashley said following the collapse of Staveley's previous bid lớn take over the club two years ago that all future business would be conducted behind firmly closed doors.