Domingo, 21 Octubre, 2018

Newcastle United owner Mike Ashley puts up Premier League club for sale

Mike Ashley GETTYMike Ashley wants to sell Newcastle before Christmas
Alejandro Castrejon | Octubre 17, 2017, 17:40

The club has been relegated twice in the intervening decade and there has been frequent discord with the fans.

Currently sitting pretty with 12 points, the situation for Newcastle is extremely positive but that can change in the blink of an eye in the Premier League- with the Magpies facing a crucial run of games in the weeks ahead against Crystal Palace, Burnley and Bournemouth.

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 owner Mike Ashley's company, St. James Holdings, released a statement Monday saying the decision was taken "to give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level".

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.

He apologised over the summer for his treatment of several managers, including fan favourite Kevin Keegan, and admitted rebranding of the stadium as the Sports Direct Arena was ill-judged.

"That would allow for a period for serious interested parties to put themselves forward, for a diligence process to carry on, and then hopefully by Christmas for a sale to conclude".