skip to content

14

Newcastle United Football Club

  • Nickname:Magpies
  • Founded:1881
  • Manager:Alan Pardew
  • Ground:St James' Park
  • Capacity:52193
Next Game: 16-Aug-2014 15:00
Manchester City

VS

Newcastle United
Full match preview
Last Game: 11-May-2014 15:00
Liverpool2

VS

Newcastle United1
Full match report

Ashley set to complete deal

11 Jul 2007 - 09:33:17

Mike Ashley is poised to complete his takeover of Newcastle United after triggering a compulsory purchase of the club's remaining shares.

Ashley's company, St James Holdings Limited, has confirmed to the Stock Exchange that it has agreed to buy almost 95 per cent of the shares.

That means the remaining stockholders will automatically be forced to sell their shares in the club to the billionaire former sportswear retailer.

Ashley paid Sir John Hall £55million for his 41.6 per cent stake in May and then continued his takeover process by agreeing to purchase chairman Freddy Shepherd's 28 per cent stake for £37million.

At the time, Shepherd backed Ashley's buyout, saying: "The offer from SJHL is at a level which fully reflects both the performance of Newcastle and its prospects and ambitions for the future.

"The board believes that SJHL and Mike Ashley will be excellent custodians of Newcastle United's heritage and will provide the best possible opportunity for the club to flourish in the future, to the benefit of the company and its fans."

Shepherd is expected to stay on at St James' Park in some capacity following the conclusion of Ashley's takeover.


Related Newcastle United News

Add Your Comment

Return to top

*All fields required, your email address will be kept private

advertisement

Related Newcastle United News

advertisement

advertisment