In a surprising turn of events, Newcastle United owner Mike Ashley has officially put the Premier League club up for sale. The move comes after a decade of involvement with the club, during which he was often criticized for not funding the outfit with enough cash, which is what led to their relegation from the top flight on two occasions in 2009 and 2016.
In a comprehensive statement, St James Holdings Limited revealed: “To give the club the best possible opportunity of securing the positioning and investment necessary to take it to the next level, at what is an important time in its history, its present ownership has determined that it is in the best interests of Newcastle United and its fans for the club to be put up for sale.”
Further, according to the group’s lawyer Andrew Henderson, the side is eyeing a complete sale at least by December in time for Christmas. The Sports Direct owner is also believed to have set the asking price at around £380 million, which is a brilliant bit of profit considering that his initial investment in the side back in 2007 was £134 million.
In an interview with Sky Sports, Henderson also revealed: “There has obviously been a lot of press speculation about Mike’s intentions towards the club. I think that there is a view that over the years there has been a considerable investment, perhaps a feeling that all that can be done has been done.”
While there are various options in which the sale can be made, speculation is running strong that it will be financier Amanda Staveley who will look to cash in and purchase the club which has been home to Premier League legend Alan Shearer. The veteran striker also had an amusing reaction to the decision on Twitter.
It will be interesting to see what the future holds for the inhabitants of St. James Park, and whether or not it shall make any ripples in the normal working of the Premier League.
Written by Naveen Kelvin
A writer trying to craft the poetry within football. Purpose in life is to Make Good Art.