Newcastle United owner Mike Ashley wants the club off his hands by Christmas, amidst reports that a deal with Amanda Staveley is edging closer.
It’s been reported for a while that controversial owner Ashley wants to get a deal done by the festive season but, with just over a month to go until that deadline, many are wondering whether it can actually get completed in time.
The Chronicle states that Ashley’s board has opted to go through the due diligence method of a sale, unlike when he himself purchased the club, and that currently stands at around the halfway stage for Staveley and FCP.
Non-disclosure agreement forms have been signed since Staveley was spotted in the crowd for the 1-1 draw with Liverpool at the start of October and progress has been made in the past six weeks, although there is of course no formal offer as of yet.
The Football Association will also need to conduct it’s fit and proper person’s test on the new board, and there should be no issues there, but it all takes time- so there are realistic expectations that a deal may not be completed in time for Christmas.
Should the board remain in January, they would probably still need to provide funds to Benitez to ensure that Newcastle remain an attractive option, should any deal with Staveley fall through, and an update on the situation could be issued at the start of December.
