Recent reports have suggested that Newcastle United owner Mike Ashley is once again actively seeking to sell the club and is willing to sell for a sum of £380 million.
This, of course, is nothing new as rumours have persisted that a Chinese investment for Newcastle is imminent and with the lack of summer spending on Tyneside, these rumours have surfaced again. The Times have reported that Mike Ashley is willing to sell at a price roughly £20 million below his asking price last summer. To further cement these rumours, a non-disclosure agreement has reportedly been signed giving the potential new investors greater access to Newcastle United.
This may not come as a shock to Newcastle fans as it was made clear in Mike Ashley’s interview with Sky Sports that he wouldn’t be prepared to put any more of his own money into the club, hinting that he is reluctant to continue with his project at Newcastle United long-term. The potential new investors have been interested in Newcastle for a while and so this move by Mike Ashley may prove to be a desperate plea for them to take over at the helm of Newcastle United, whilst allowing him to sell the club for double the amount he bought it for a decade ago.
So what does this mean for Newcastle United?
Pretty much business as usual as investment reports and rumours have been constant during the tenure of Mike Ashley and since these investors appear to have a reluctance to purchase Newcastle at Mike Ashley’s valuation, it is doubtful anything may come of this. However, one thing that is clear is that Mike Ashley is now pursuing a strategy to remove himself from Newcastle United and by reducing the price-tag, something he has remained steadfast throughout the past decade, it may not be long until Newcastle find themselves cutting ties with Mike Ashley and Sports Direct.