By Zak Stephenson
After a dreary eleven years as Newcastle United owner, due to relentless extortion from fans, in October 2017 Mike Ashley put the club up for sale.
After a dreary eleven years as Newcastle United owner, due to relentless extortion from fans, in October 2017 Mike Ashley put the club up for sale.
Amanda Staveley and her firm PCP Capital Partners have had an interest in the club and talks are ongoing with Ashley. The takeover will certainly define the future of the club.
In an interview Ashley did with Sky Sports in August 2017, he openly admitted:
“I don’t have that cash in the bank, so I don’t have that ability to write a cheque for £200 million, I don’t have that, it’s very simple, it’s not there.”
Throughout his eleven years as Newcastle owner Ashley has been heavily criticised for his lack of investment in the club. This past summer, following a title-winning Championship campaign, Geordies we’re excited to see how Rafa Benitez would spend his transfer kitty. Rumours pre-window were that Benitez would have £75 million to spend on behalf of Ashley. In reality, Benitez spent £36 million after making £26 million in sales. Ashley had promised all money the club made would be reinvested. Therefore, Benitez only had a net spend of £10 million. To many fans this was the last straw. With clubs like AFC Bournemouth spending £20 million on one player, the fact Ashley can only fork out £10 million for Benitez is simply unacceptable.
In the same interview the multi billionaire also stated:
“I’m not wealthy enough in football now to compete with the likes of Man City etcetera.”
The money involved in football nowadays is absurd. There is no arguing that. However, the fans don’t expect to compete with Manchester City, they expect to compete with Huddersfield Town and Burnley and spending wise, Newcastle aren’t doing that at the moment and that’s worrying. This is one reason why the takeover needs to happen. Amanda Staveley has the money to compete and will invest in the club.
Furthermore, the fans have no confidence in Mike Ashley. It is proven that a club in which the ownership has a healthy relationship with the fans and engages with them is one step to making a club successful. Take Manchester City for example; in September 2008 Sheikh Mansour bought the club for £210 million. Through being engaged with the club, the city and the fans - whilst also investing in the club - since the takeover City have won: one League Cup, one F.A Cup and two Premier Leagues.
The clubs total market value is now £704 million. Sheikh Mansour has achieved all of this in just ten years - showing exactly what engagement and commitment by an owner can achieve. Why can’t this happen at Newcastle?
Doubtlessly, the most frustrating thing about Newcastle United is that everything is in place, but great ownership.
Firstly, the status - Newcastle are in the Premier League, they may be a relegation battling club, but nevertheless, it’s the best a new owner could ask for; Premier League status.
Moreover, Rafa Benitez is the perfect man for the job, the relationship between Benitez and the fans is heartwarming - but due to awful ownership - Benitez has been unable to develop Newcastle into the superpower they could be. If the Champions League winning manager was given a respectable transfer budget it would be a highly anticipated next transfer window, that’s for sure. Lastly, Newcastle United’s fan base is one to be worshiped, not one to be disappointed, like Mike Ashley has done to Geordies for the past eleven years. Despite recent times being rough for the Toon, every week 52,000 fans turn up to St James’ Park, every away game sells out instantly. Throughout the city, Football is the topic of most conversations. As a one club city, the passion for the football club is extraordinary. The fans are constantly let down by the owner. The fans recognise what the club could be, that’s why the takeover is so important, because of what could.
Everything is in place. The club haven’t won a major trophy since 1969, The club is waiting for the owner to come along and drive the club to much anticipated success.
After 22 games Newcastle sit on 22 points, just two points above the drop zone. With a relegation battle looking assured, the Toon need to improve as the lack of Premier League quality is clear. That’s not going to happen under Ashley. This season will define the future of Newcastle United. If relegated, I wouldn’t bet against the Magpies establishing themselves as a mid table Championship club. However, if survival is achieved and the takeover happens Newcastle could become one of the elite Premier League clubs. The scale of possibilities is huge and it all lies on the takeover.
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