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Ashley suggests Newcastle Take...
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Ashley suggests Newcastle Takeover Not dead yet

Ann-Marie Donelan
Ann-Marie Donelan

10:43 31 Jul 2020

Newcastle United's Managing Director Lee Charnley has released a statement on behalf of Mike Ashley, addressing the takeover bid which has fallen through.

A joint bid by Saudi's Public Investment Fund, Amanda Staveley's PCP Capital Partners and Reuben Brothers to buy the Premier League club was withdrawn on Thursday.

A £300million (€332m) price had previously been agreed with owner Ashley.

The consortium cited the "unforeseeably prolonged process" as their reason for backing out, saying the "commercial agreement between the Investment Group and the club's owners expired and our investment thesis could not be sustained".

The brief statement from Charnley on Friday morning read,

“We acknowledge yesterday’s statement.

“Never say never, but to be clear Mike Ashley is 100% committed to this deal (sale).

“However our current focus must now be on supporting Steve Bruce in the transfer market and on the preparations for the new season."

Meanwhile, former Newcastle defender Steve Howey expressed his regret for the club and fans that the bid fell through.

Reacting to Thursday's decision he told Sky Sports News,

"Financially if the Saudi's had took over, you're looking at getting the top, top players.

"Unfortunately now, what kind of players will Steve [Bruce], if any, be able to look at?

Myself personally, and I'm sure a lot of the Newcastle fans if not all of them, are very worried about the future."

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