Newcastle have declined to comment on a report in the Wall Street Journal that Mike Ashley is in talks with Saudi Arabia’s sovereign wealth fund over a potential £340m takeover, but it is understood discussions are under way. Amanda Staveley, the Dubai-based financier previously linked with a takeover of her own at St James’ Park, is said to be acting as a conduit between parties during talks dubbed Project Zebra. Saudi Arabia has recently explored investments in the European sporting arena, and has previously been linked with rumoured takeovers of Manchester United. Moreover, Ashley was understood to be unimpressed with Staveley’s previous attempt to buy Newcastle outright. Ashley detests information leaks and the Wall Street Journal report may jeopardise Project Zebra and any agreement, but the suggested price is close to his £350m valuation.

Source: The Guardian January 25, 2020 15:06 UTC