Newcastle United’s owner, Mike Ashley, who has been under pressure and criticism for underfunding the team, has called on prospective buyers of the club to show him that they truly have the money before selling the club.
It is understood that aside from buying the club, Ashley wants prospective buyers to prove they can adequately fund the club.
There are previous failed attempts to buy the club, notably Amanda Staveley’s bid but negotiations seemed to break down towards the last lap and with the Magpies critical of Ashley’s funding of the club, there is an increased pressure on Ashley to sell the club to a buyer who can fund the club heavily, so as to compete favorably with other clubs.
Former, Manchester United and Chelsea chief executive, Peter Kenyon emerged as a front-runner to buy Newcastle United as he is attempting to form a consortium financially buoyant enough to buy over the club.
Although there are no figures from Mike Ashley and his representatives, regarding Newcastle United’s worth, it is believed the club is valued at £300m and will not be sold for less.
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