A Middle East takeover of Newcastle United could be imminent if a takeover of the Premier League club by PCP Capital Partners goes ahead.
UK media reports said PCP Capital Partners, the investment vehicle run by financier Amanda Staveley, is in talks to acquire the club from current owner Mike Ashley for a figure believed to be in the region of £300 million ($ 400 million).
Earlier this week, Ashley released a statement in which he expressed his desire to sell and noted that he hopes to finalise a deal before the January 2018 transfer window opens.
The UK’s Telegraph reports that Staveley, who represents Middle East investors, as well as Chinese, is “keen” to conclude the talks before December, a move that would allow her to release more funds with which to bolster the team during the transfer window.
On Tuesday, the Financial Times reported that PCP Capital is one of four potential bidders for the club, citing “people brief on the process.”
Quoting an anonymous source, Reuters reports that PCP Capital believes the club is worth £300 million ($ 395 million), with an additional £150 million ($ 197 million) needed to invest in players over the coming two years.
In September 2008, Stavely, who runs the $ 37 billion private equity fund, played a key role in a crucial role in deputy Prime Minister of the UAE and Minister of Presidential Affairs Sheikh Mansour Bin Zayed Al Nahyan’s high-profile purchase of Manchester City from Thaksin Shinawatra.
A year previously, she was also involved in an attempt by Dubai investors to purchase Liverpool FC, before it was sold to Americans Tom Hicks and George Gillet.
In June, Staveley told Arab News that she considered English football to be “an attractive investment”, but declined to say which clubs her clients were considering investing in.