Ashley puts Newcastle United up for sale

Tue, 17 Oct 2017 | BUSINESS SALE

Mike Ashley, the controversial chairman of Newcastle United, has announced plans to sell his controlling stake in the Premier League football club and hopes to conclude a deal “by Christmas”.

Any sale would end the Sports Direct billionaire’s 10-year association with the club, during which time the Magpies have been relegated twice from English football’s top tier.

According to the Times newspaper, Newcastle – who currently sit in 9th spot in the Premier League after eight games – could be acquired for £380 million.

Ashley has been a divisive figure since he bought the Tyneside football club for £134.4 million in 2007, often prompting supports to protest about the way the Sports Direct owner has run the club.

He has previously put the club up for sale unsuccessfully: in September 2008 he sounded out offers following a series of angry demonstrations spurred on by club legend Kevin Keegan’s departure, only to take the club off the market in December of that year.

A statement on Newcastle United’s website announcing the sale says the club “requires a clear direction and a path to a bright and successful future”.

Newcastle's statement added: "To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale."

Though no buyers have yet to be identified, it has been reported that Amanda Staveley, one of Britain’s wealthiest women with a net worth of £110 million, could be a potential suitor.

Staveley, a former model and current head of wealth management firm PCP Capital Partners, sparked speculation regarding a takeover deal earlier this season after being spotted at a Newcastle match and talking to club’s managing director Lee Charnley.

Newcastle’s latest accounts – which are correct up to 30 June 2016, just before the club’s relegation to the Championship – reveal an annual profit of £900,000 and turnover of £126 million in the financial year 2015-16.

Subscribe to the Business Sale Report here.


Share this article



Latest Businesses for Sale

CPQ Software as a Service Provider
East of England, UK

The company is a provider of Configure, Price, Quote (CPQ) Software as a Service (SaaS) and Data to drive eCommerce. ▸ Long-term framework agreements with key clients. High level of recurring income from contracts. Offers invited.

Asking Price: Offers Invited
Turnover: £3,350,000

LEASEHOLD


Energy Management Providing Meter Readings & Efficiency Analysis
North West, UK

Specialist engineers providing a range of energy management services including the supply & maintenance of electricity billing meters, energy reports & cost budgeting. Contracted to provide metering services on behalf of a major electricity distribut...

Asking Price: Offers Invited
Turnover: £720,000

Plumbing & Heating Engineers
Yorkshire and the Humber, UK

Plumbing & heating engineers offering specialist domestic & commercial services including repairs, breakdown assistance & installation of domestic kitchens, bathrooms & bedrooms, operating from two showrooms. Operates two strategically located showro...

Asking Price: Offers Invited
Turnover: £1,334,000


View more businesses for sale

News Search

Latest News

 
03
 
Apr
 

Chancellor bolsters CBILS for small firms and unveils new scheme for large companies | BUSINESS NEWS

Chancellor Rishi Sunak will today take new measures to suppo...

 
03
 
Apr
 

Benito’s Hat to continue trading despite entering administration | ADMINISTRATION

Fast-casual Mexican food chain Benito’s Hat has entere...

 
02
 
Apr
 

Next puts headquarters and three warehouses up for sale | COMMERCIAL PROPERTY

Fashion retailer Next has put its head office and three ware...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources