Dave Posted October 19, 2017 Share Posted October 19, 2017 On Monday 16th October, St. James Holdings Limited (Mike Ashley) officially put the club up for sale: https://www.nufc.co.uk/news/latest-news/statement-from-st-james-holdings-limited What's the latest news? 19/01/18 Amanda Staveley has given an exclusive interview to George Caulkin of The Times. In it she details the three bids made for the club, and defends herself against accusations that she's a tyre-kicker. 16/01/18 Mike Ashley has essentially told Sky Sports News that the deal is OFF, and that no offer is being considered. He's accused PCP of wasting his time. For their part, PCP - who reportedly learned of Ashley's position via the media and have had no formal communication with the club since before Christmas - claim their £250m bid made in November remains on the table. 13/12/17 Multiple reports from basically all of the local and national media outlets report a £300m deal is now close to being agreed, with January transfer funds to be made available even if it means Ashley spending it to be refunded later. 07/12/17 Exclusive photos in The Sun show that Mike Ashley and Amanda Staveley met over a curry in London on Wednesday night. They claim the meeting - set up by media mogul Richard Desmond - went well and talks are ongoing, but a takeover in time for January now looks highly unlikely. 04/12/17 The Times claims that PCP have offered £250m in a single up-front payment and that they have given Ashley two weeks to accept. 20/11/17 PCP Capital Partners have reportedly made a formal bid for the club of £300m. No word yet on whether this is likely to be accepted. 16/11/17 Lee Ryder has claimed on Twitter that the FA are 'aware of the plans of an interested party' with respect to a potential new owner having to pass the relevant fit and proper persons tests. 27/10/17 Local media backed up by Middle East sources are suggesting that PCP initially value the club at £300m. Whether that will be enough to move things forward remains to be seen. 22/10/17 The Chronicle/Lee Ryder has reported that PCP signed an NDA prior to the official statement about the club being up for sale, so there's a possibility things are further on than first believed. So far several parties - up to five according to the media - are alleged to have signed non-disclosure agreements (NDAs). PCP Capital Partners, a company headed up by Amanda Staveley is believed to be particularly interested. Having signed NDAs, potential buyers are able to examine the club's accounts in depth (a process known as due diligence) and decide if they want to take things further. What have the club said? Andrew Henderson is a lawyer working for NUFC attempting to find a buyer. He's said "Since Monday [16th October], a number of additional parties have come forward which we believe to be credible. We are also continuing to engage with a number of parties with whom we had entered into negotiations prior to Monday’s announcement." Does signing an NDA mean a price is agreed? Highly doubtful. It just means both parties consider each other are serious enough about a potential deal. However it's realistic to suggest that any parties that want to go into the accounts in such detail do have at least a rough idea of what Ashley wants, otherwise there wouldn't be much point in going further. How long can due diligence take? Days, weeks, months; it's as long as the potential buyer wants to take. Ashley infamously didn't take very long at all to decide to buy the club. How much money does Ashley want? It's unclear. Estimates in the media have ranged from £300m to £450m. It's also unknown what Ashley wants in respect of the involvement Sports Direct have at present - the branding around the stadium and training ground and the merchandising deals in place - all of which directly benefit the company he clearly cares most about. Another consideration is the ongoing HMRC investigation into the club's historical transfer dealings. Who is Amanda Staveley? From Wikipedia: Amanda Louise Staveley (born 11 April 1973 near Ripon, North Yorkshire, England) is a British businesswoman notable chiefly for her connections with Middle Eastern investors. In 2008 Staveley played a prominent role in the investment of £7.3 billion in Barclays by the ruling families of Abu Dhabi and Qatar, and by the Qatari sovereign wealth fund. Staveley’s firm, PCP Capital Partners, acted for Sheikh Mansour Bin Zayed Al Nahyan of the Abu Dhabi royal family, who invested £3.5 billion to control 16 per cent of the bank. The deal was reported to have earned PCP Capital Partners a commission of £110 million, which, after paying advisers, represented a profit of £40 million. Staveley was also involved in Sheik Mansour's high-profile purchase of Manchester City Football Club in September 2008. Staveley was involved with an unsuccessful takeover of Liverpool in 2008. In contrast with her previous football deals however, reports suggest that this time she's leading a potential bid for NUFC rather than being merely an intermediary. A business profile of Staveley can be found here: https://business-reporter.co.uk/2014/12/08/the-big-interview-amanda-staveley/ Who else is in the frame? Much less has been written about the other supposedly interested parties. It certainly won't be Turkish billionaire Murat Ulker, chairman of Yildiz Holding which owns the McVitie's biscuit brand. They ruled themselves out via a statement to the Press Association almost immediately after being linked with a takeover. Other/Useful Info Andrew Henderson speaking to SSN: http://www.skysports.com/watch/video/sports/football/11084237/newcastle-could-be-sold-by-christmas https://twitter.com/bigchrisholt/status/920293864765878272 Link to post Share on other sites More sharing options...
Recommended Posts