Middle East firm 'bids £300m' for Newcastle United
Newcastle United, of English soccer's Premier League, have received a formal takeover bid of around £300 million ($397 million) from PCP Capital Partners, the Middle Eastern investment company headed up by British businesswoman Amanda Staveley.
Newcastle owner Mike Ashley, the UK sports retail tycoon, put the club on the market a month ago, and has been in talks with PCP ever since, according to reports.
Staveley was at St James' Park for the Newcastle vs Liverpool game in early October, which prompted talk of a potential bid for the club.
In 2007, she played a part in the failed takeover of Liverpool by a group of Dubai-based investors and last year she was involved in the joint share offer by Chinese company Everbright Limited, which was ultimately rejected by the north-west club's current owner FSG.
The businesswoman was also instrumental in UAE billionaire Sheikh Mansour’s takeover of fellow Premier League giants Manchester City in 2008.
Newcastle were promoted back to the top flight last season, having been relegated to the second-tier Championship twice in the 10-year tenure of Ashley.
The owner is not popular among Newcastle fans, having previously dropped the famous St James' Park name for the club's home ground (pictured) in favour of the Sports Direct Arena, after the sports retail chain he founded, pending a permanent sponsorship deal. That deal lasted 12 months before the Sports Direct branding was removed.
Meanwhile, Melitta has become the official coffee partner of fellow Premier League club Manchester United.
Melitta will be the club’s exclusive coffee partner in Europe, with the partnership covering UK, Ireland and Germany. As part of the agreement more than 200 Melitta coffee machines and makers will be installed within executive club boxes and hospitality areas around Old Trafford.