Newcastle United takeover deal worth £300m ‘close’

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A Newcastle United takeover has taken a step closer after new documents show that owner Mike Ashley has entered into a charge agreement with potential buyer Amanda Staveley.

According to The Telegraph, sources close to the deal have confirmed that the Saudi Arabian-backed takeover of Newcastle has been agreed and a formal announcement that Mike Ashley’s ownership of the club has come to an end could now be imminent.

Mike Ashley, chief executive of Sports Direct

It is understood to be worth £300m.

The 31-page charge agreement lodged at Companies House lays the legal groundwork for a potential deal to be completed.

The Premier League have also been informed of the potential deal and are understood to have begun the process of carrying out checks under its owners and directors test.

Ashley said in October 2017 he wanted to sell the club after 10 years in charge.

Initially, the deal was said to have been worth £340m, but the latest development will encourage many Newcastle fans who want to see Ashley end his association with the club, having taken over in 2007.

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