Dubai-based Staveley makes a £300 million bid for Newcastle

Amanda Staveley is believed to have been in talks with Newcastle about a potential takeover for several weeks. (Reuters)
Updated 21 November 2017
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Dubai-based Staveley makes a £300 million bid for Newcastle

LONDON: Amanda Staveley’s Dubai-based financial advisory firm PCP Capital Partners has made a formal offer of around £300 million ($397 million) for Newcastle United.
Several media outlets, including the BBC, said the firm had made a bid to Newcastle owner Mike Ashley.
Newcastle are yet to comment on the reports.
The bid is likely to be backed by funds from her extensive network of contacts in the Middle East, Asia and elsewhere.
Globally PCP has $37 billion of assets under management, with Staveley acting for big Gulf investors in London real estate and other assets, as well as for wealthy Chinese investors.
Staveley is believed to have been in talks with Newcastle about a potential takeover for several weeks.
Sportswear magnate Ashley announced he wanted to sell the club in October after 10 years in charge, having paid £134.4 million to buy Newcastle in 2007. It has been reported that he wants nearer £400 million for northeast side.
The 53-year-old Londoner has proved a divisive figure during his tenure, which has seen Newcastle twice relegated from the Premier League and then immediately promoted back.
Staveley, 44, helped broker Sheikh Mansour’s purchase of Manchester City in 2008.
She was spotted watching Newcastle’s 1-1 draw with Liverpool at St. James’ Park last month.
Newcastle were promoted from the Championship under Rafael Benitez last season.
The northeast club regularly attract crowds of over 50,000, but their supporters have not had a trophy to celebrate since the 1969 Inter-Cities Fairs Cup — the precursor to the UEFA Cup.


Virat Kohli savors first India win over Australia Down Under for a decade

Updated 10 December 2018
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Virat Kohli savors first India win over Australia Down Under for a decade

  • India's last triumph on Australian soil at the WACA in Perth in 2008
  • Kohli confident win sets tourists up for a series win.

ADELAIDE: Virat Kohli said it was “very special” to captain India to their first Test win in Australia for a decade and gave his side crucial momentum in their bid for a maiden series victory.
The visitors won a tightly-contested opening Test in Adelaide by 31 runs on the fifth day after setting Australia a target of 323, which would have been a record run chase at the ground.
It was a big breakthrough for Kohli’s men, with their last triumph on Australian soil at the WACA Ground in Perth in 2008. In Adelaide, their sole previous win was in 2003.
“Obviously it’s a great feeling. We’ve never taken a lead in a series in Australia, something that for us is a huge boost,” he said.
“And it’s given us the right momentum that we needed to play a big series like this and it’s something that we’ve had to work hard for.
“Any Test victory is special because you work hard over five days, and then the physical and the mental toil and the emotion of it all comes together in a result is a very special feeling.”
Kohli, who has long led India’s batting charge with admirable consistency across all three formats but failed to fire in Adelaide, said he believed his team collectively were better than Australia and deserved to win.
The victory was built on Cheteshwar Pujara’s first innings 123 and his second innings 71, while wicketkeeper Rishabh Pant took a world record-equalling 11 catches.
“It was priceless from Pujara, we were down and out at lunch on day one. His grit and determination brought us back in it,” said Kohli.
“We always knew that runs on the board would make the home side tentative. Any lead was gold and we got 15. In the second innings again, he and Rahane batted well.”
Asked if thought 323 would be enough to win, Kohli said his middle and lower order could have done better after a five for 25 collapse at the end of the second innings.
“We could have added another 30-35 runs more which could have taken the game totally beyond Australia,” he said.
“So these are things that we have to think about going to Perth, but if someone had told me before the series that I would be 1-0 up as soon we started the series, I would have taken it with both hands.”
The second Test starts on Friday in Perth, with Melbourne and Sydney to follow.