Ashley massive £17M richer despite Newcastle takeover collapse

Football
31 Jul 2020 • 5:03 PM MYT
Tribal Football
Tribal Football

Tribal Football covers news from the Premier League, LaLiga and Serie A

Newcastle United owner Mike Ashley still ended well out in front after the collapse of his club sale yesterday.

Newcastle saw the takeover of Saudi Arabia's Private Investment Fund from Ashley fall through on Thursday, after a prolonged period of negotiation.

It leaves Ashley preparing for the foreseeable future as owner of a club he is desperate to sell.

But Ashley will now keep the £17m deposit paid by the Saudi Arabian consortium as it was non-refundable, reports the Daily Mail.

A deposit of five per cent was agreed when the sale price was set at £340m — but it was reduced to £300m as economic circumstances changed. The deposit remained the same, however.