Published: Wed, January 17, 2018
Sport | By Cameron Gross

Newcastle United takeover talks between Amanda Staveley and Mike Ashley fall through

Newcastle United takeover talks between Amanda Staveley and Mike Ashley fall through

Ashley and Staveley's Middle East investment fund PCP Capital Partners have been involved in negotiations since November but it would appear the deal is now off.

The deal fell through when Staveley refused to match Ashley's valuation of the club, according to the BBC. The club has been relegated twice during Ashley's reign.

He has overseen both highs and lows while at the helm of the club, including a fifth placed finish and a Europa League quarter final appearance as well as two relegations and a tax fraud investigation by HMRC.

A source close to Ashley told multiple news outlets: "It's only right to let the fans know that there is no deal on the table or even under discussion with Amanda Staveley and PCP".

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Sky Sports News first reported back in November that financier Staveley had submitted a formal bid to takeover the Tyneside club, already after months of negotiations.

Staveley's group, which is thought to be backed by money from the Middle East and China, is one of a series of prospective buyers that signed non-disclosure agreements with the club past year.

Ashley, 53, has been a divisive figure at St James' Park, with some supporters regularly protesting about the way the businessman has run the club.

Newcastle are now in 15th place in the Premiership table, only three points above the relegation zone.

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