Newcastle receive $440 million U.S. takeover bid

Sport

Newcastle United have received a $440 million takeover bid from a US billionaire as Mike Ashley now has multiple offers for the Premier League club.

The Magpies have been the subject of a takeover from a consortium, PCP Capital, led by Amanda Staveley which includes the Crown Prince of Saudi Arabia, Mohammed bin Salman, and local businessmen.

Henry Mauriss, the CEO of Clear TV in the USA, is leading the potential takeover and his offer is $65 million more than the PCP group are offering. The other issue with the Staveley consortium is that the Premier League is currently conducting their owners and directors’ test, which has dragged on for many months.

Current Newcastle owner Mike Ashley has wanted to sell the St James’ Park club for many years but hasn’t received an acceptable offer. Now they are lining up to buy Newcastle, as Ashley’s 13 years as owner is set to end one way or another.

Our partners at Sky Sports have more details on the potential Newcastle takeover:

Sky Sports News has been told Mauriss would prefer the takeover to happen before the start of the 2020/21 season. In April, PCP Capital Partners, Amanda Staveley’s Saudi-backed consortium which includes Saudi’s Crown Prince, Mohammed bin Salman, agreed a £300m deal to buy Newcastle United and end Mike Ashley’s 13-year tenure as the club’s owner.

The Saudis’ proposed takeover is currently awaiting the outcome of the Premier League’s owners and directors’ Test. That bid has been met with fierce criticism from Amnesty International over the human rights situation in Saudi Arabia, as well as opposition from broadcaster beIN Sport, who claims Saudi Arabia is involved in the illegal streaming of Premier League matches.

Mauriss has come in with a late offer here and this is very interesting indeed.

It has been widely reported that Ashley has already accepted a non-refundable $21.3 million deposit from PCP partners and the deal is agreed in principle.

However, if the Premier League do not ratify the sale to PCP Partners, Mauriss would be first in line to buy Newcastle. Watch this space.