Newcastle owner Mike Ashley is close to agreeing a deal to buy struggling department store chain House of Fraser, according to a Sky Sports News journalist.
Kaveh Solhekol, a reliable sports journalist, revealed on his personal Twitter account that the Sports Direct tycoon is looking to seal a deal with the British retail company.
Window not shut for Mike Ashley yet. Newcastle United owner close to agreeing deal to buy troubled department store chain House of Fraser
— Kaveh Solhekol (@SkyKaveh) August 10, 2018
Ashley already has an 11% stake in the business, according to Sky News, and also owns close to 30% of their man rivals Debenhams.
The billionaire owner has made seven signings for Newcastle this summer, with three of the moves not costing any money in another frustrating transfer campaign for the Magpies.
OPINION
Newcastle fans have been left with another transfer window filled with frustration and hearing the news that Ashley is close to completing a takeover with the British retail store will not go down well with them at all. His ownership of the football club during his ten-year reign has left him unpopular with the majority of the club’s fanbase and the move to buy House of Fraser highlights his desire in business rather than backing Rafael Benitez with transfer funds to guide the club towards a potential relegation. The club’s biggest signing this summer was the £6million purchase of Swansea’s Federico Fernandez which, for a club with a magnitude such as Newcastle, is appalling and is not fair on the faithful supporters who have stuck with the club during difficult times. The only way the club are likely to move forward is by getting rid of Mike Ashley but, with no sign of any potential buyers for the club, it is likely the fans will be stuck with the London-based billionaire for another year.
