Amanda Staveley makes significant progress in Newcastle takeover bid

According to reports in The Times, Amanda Staveley is expected to launch a bid for Newcastle United imminently after signing a non-disclosure agreement with the club’s owners.

It was announced on Monday that Mike Ashley had put the Tyneside outfit up for sale after 10 years at the helm, and it seems as though a deal could be done soon with The Times saying that Staveley is looking for a speedy purchase.

The 44-year-old attended the recent draw against Liverpool at St James’ Park to fuel talk that a takeover was close, and it seems more progress has been made since the start of the month.

While Sky Sports reports that Ashley is looking to sell for around £400m, Reuters says that Staveley is considering a bid of around $400m (approximately £303.7m), with a promise of investing £150m over the course of the next two seasons.

However, the Daily Mail says that the financier could pump as much as £300m into Rafa Benitez’s transfer kitty, which would be sure to please the Spaniard following a disappointing summer transfer window.

While it seems safe to say that no source knows the exact figures involved, the potential takeover and investment could allow Benitez to build a squad that is capable of not only staying in the Premier League consistently, but also look to compete for a spot in Europe.

Newcastle have made a positive start to the Premier League season following their promotion from the Championship, taking 11 points from their opening eight top flight fixtures this term.