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Newcastle Sale Edges Closer

Newcastle Sale Edges Closer

According to numerous reports, Mike Ashley has agreed a deal in principle to sell Newcastle United for £300million.

Ashley revealed in an interview with Sky News last week that he was in discussions with several potential buyers and he was feeling optimistic a deal could go through before the January transfer window.

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Former Manchester United and Chelsea chief executive Peter Kenyon is believed to be the firm favourite to buy the Magpies after proving he indeed has the funds from backers like Rockefeller Capital Managment to buy the club.

It is now thought a £300m deal has been agreed in principle for the 64-year-old to take over at St James’ Park, with the payment rumoured to be made in staggered amounts, something Ashley was previously against when Amanda Staveley tried to purchase the club nearly 12 months ago.

Unfortunately for Newcastle fans, the Kenyon group is still in due diligence and the bad news is that it won’t be until January before the deal is completed, meaning transfer business may be limited.

But, on a positive note, the Geordie faithful appear closer to getting their wish of seeing Ashley leave the club after a controversial spell as owner.

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