Amanda Staveley to begin period of due diligence as financier looks to take control of Newcastle United

St James' Park - Amanda Staveley to begin period of due diligence as financier looks to take control of Newcastle United
Amanda Staveley may end up in control of Newcastle United Credit:  PA

Amanda Staveley is heading the bid to buy Newcastle United rather than act as a deal-maker on behalf of wealthy Middle Eastern investors.

Staveley’s potential bid is through the company she runs, PCP Capital Partners, and it is understood that a non-disclosure agreement has been signed as talks move on to the next stage.

The financier will begin a period of due diligence to examine Newcastle’s books before considering at what price to make a formal offer – although an estimated valuation of around £300 million is expected. That may fall short of what Newcastle owner Mike Ashley wants – a figure of closer to £400m has been mooted – but further talks are due.

Staveley helped broker the deal for Sheikh Mansour to buy Manchester City in 2008 but, with Newcastle, it appears her intent is to be the principal in the deal, through PCP, with other investors to support her company. She controls close to £30 billion of investments but the exact identity of her potential backers has not yet emerged. It appears she will control Newcastle, if acquired.

Staveley is not the only interested party to sign an NDA but has emerged as the clear front-runner with Ashley having publicly put Newcastle up for sale with a statement released on Monday. Telegraph Sport reported that Staveley, a highly-regarded deal-maker, remained interested and was considering a £300m offer for the club having previously attempted to buy Liverpool.

Rafael Benitez 
Rafael Benítez was told of Mike Ashley's intention to sell some weeks ago and is said to be relaxed about it Credit: GETTY IMAGES 

Staveley has links with the north, and was born and raised in Yorkshire, with Newcastle regarded as a club with great potential and an international profile. If a deal goes through there is expected to be substantial investment to back Newcastle manager Rafael Benítez.

Staveley was in the stands for the 1-1 draw with Liverpool earlier this month when she met managing director Lee Charnley, Ashley’s close associate Justin Barnes and PR adviser Keith Bishop. Since then more constructive talks have taken place.

Ashley wants to try and agree a deal by Christmas, and before the January transfer window opens, but there is some concern among Newcastle supporters that he has come close to selling the club before without agreeing a deal.

Ashley's lawyer Andrew Henderson released a statement saying: "Since Monday, a number of additional parties have come forward which we believe to be credible. We are also continuing to engage with a number of parties with whom we had entered into negotiations prior to Monday's announcement."

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