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Take it or leave it offer for Newcastle

Amanda Staveley has given Mike Ashley a fortnight to accept £250m for Newcastle United in a one off payment. Ashley rejected proposals for a series of staged payments that would have yielded a higher total. He had been hoping to receive £380m for the club.

Analysts think that Newcastle's value would halve if they were relegated to the Championship, so there is likely to be a significant relegation clause in the contract that would require Ashley to return money if they went down.

Staveley is concerned about running out of time. She wants to complete the takeover well before the end of the January transfer window and the Premier League requires 30 days to a ratify a deal. Newcastle's run of six games without a win has increased the importance of the transfer window and the urgency of the negotiations.

There are not believed to be any other offers on the table, despite rumours of another bidder emerging.

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