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PCP Partners tables formal bid worth £300m for Newcastle United

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PCP Capital Partners headed by British businesswoman Amanda Staveley has tabled a formal takeover bid in the region of £300m for Newcastle United.

The financial firm has been in negotiations with the Premier League club’s owner Mike Ashley for about a month, and a source close to the deal said an offer has now been made.

However, the Magpies are yet to accept the offer and while this can be classed as a good sign, Mike Ashley is still to agree to a deal to sell the club after 10 years in charge.

Staveley’s group have reportedly been undergoing a thorough review of the club’s finances dating back to 1990 and boxes of accounts had been sent down from Tyneside to London.

Ashley, who purchased the club in 2007 and has overseen two relegations and two promotions in that time, said on 16 October he wanted to sell after 10 years in charge.

Staveley was spotted in watched Newcastle’s 1-1 home draw against Liverpool on 1 October.

In 2009 her financial firm helped broker the purchase of Manchester City by Sheikh Mansour bin-Zayed bin Sultan Al Nahyan

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