New snags have hit the Newcastle United takeover deal over the issue of relegation. Prospective purchaser Amanda Staveley is not satisfied with the prospect of a rebate if the club is relegated. She would prefer to pay a lower price for the club now and then top it up in May if Newcastle stay up.
Newcastle are now just one point above the relegation zone and PCP Partners have calculated that they have a 65 per cent chance of going down.
Unless a deal is reached soon it may not be concluded until after the end of the January transfer window. This would mean that much needed investment in new players would not take place and might be the last straw for manager Rafael Benitez. He has not been slow to express his concern: Transfer budget uncertainty
It might not even be completed until February when the results of the last Premier League broadcasting auction are known. However, negotiations are still going on and there is always the chance of a sudden breakthrough. Staveley and her consortium clearly want to buy the club and Ashley wants to sell.
Contrary to reports earlier in the week, the Financial Times has stated that Staveley did not increase her initial offer of £250m.
Kieran Maguire of the Price of Football has noted on Twitter that Mike Ashley spent just £700k a year net on transfers in his first eight years in charge: 'You pay peanuts,you get to play Burton Albion on a Tuesday night.'
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