The consortium involved in the proposed takeover of Newcastle are willing to pay a larger sum to buy the club than was originally agreed.
The Magpies were the subject of intense takeover talks throughout the summer, with a Saudi Arabian consortium, led publicly by Amanda Staveley and Mehrdad Ghodoussi’s PCP Capital Partners, agreeing a £300 million deal to buy the club, as per Chronicle Live.
Consortium agree to pay higher fee for Newcastle as legal battle set
Mike Ashley is thought to be preparing to make a legal challenge to the Premier League’s decision not to allow the takeover to go ahead, with the Newcastle owner still keen to sell the Magpies. However, progress is not expected to be made until at least December or January, as per Sunderland Echo.
It is believed that the consortium involved in the potential takeover have now agreed to pay a higher fee than the initial £300 million they had bid to buy out Ashley. That would see PIF, PCP and the Reubens pay 10% more than their original offer, as per Sunderland Echo.
There is thought to still be a possibility that the consortium could have some influence in the Magpies’ January transfer business. That thought depends on if progression can be made over the legal challenge, with further talks set to take place before the start of the New Year, according to the Sunderland Echo report.
Newcastle and Steve Bruce desperately need situation resolved
Steve Bruce was still able to invest in Newcastle’s squad in the summer despite all of the takeover talks surrounding the club, with the Magpies spending around £35 million on Callum Wilson and Jamal Lewis. However, there are still areas of the squad that could need addressing in January.
The Magpies were unable to complete moves for either of the Chelsea pair Ruben Loftus-Cheek or Ross Barkley, with Newcastle needing to first shift £100,000-a-week worth of fringe players. If the takeover situation is resolved in time for January, then Bruce could add to his midfield. However, time is running out and the situation appears to be constantly changing.
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