Newcastle Owner Mike Ashley Ends 'Frustrating' Talks With Amanda Staveley

Premier League side Newcastle Owner Mike Ashley "ended the possible takeover" of the club by Amanda Staveley amidst claims the talks were "exhausting, frustrating and a complete waste of time," according to Martin Hardy of the London INDEPENDENT. Those close to Ashley claimed despite Staveley and PCP Capital Partners’ interest in buying the club in October of last year, when Ashley officially put it up for sale, "a firm enough offer was never tabled." Ashley reportedly "wanted a figure in excess" of £350M ($483M) for the club he bought from John Hall in '07 for £134M. Talks "were believed to have fallen way short, with the highest figure suggested" at around the £250M ($345M) mark, "although there were thought to be a series of clauses -- including one for relegation -- in those talks." Senior Newcastle execs "became increasingly frustrated by the lack of progress in negotiations, and were concerned about the validity of the potential bidder." As such, any sale to Staveley "has now been called off" (INDEPENDENT, 1/16).