Football finance expert questions Mike Ashley's Newcastle asking price
A football finance expert has claimed Mike Ashley's asking too much money for Newcastle United.
Amanda Staveley's PCP Capital Partners have had a bid of Â£300million, which included performance-based add-ons, rejected by Ashley.
The cash value of the offer was worth significantly less than that figure.
Ashley, according to a report in The Times yesterday, wants Â£350million for the Premier League club, which he bought a decade ago for Â£134million.
However, Kieran Maguire – who lectures in football finance at Liverpool University and runs the priceoffootball.com site – has questioned that valuation on Twitter.
Maguire tweeted: "Difficult to see how #Ashley can justify Â£350m asking price when he only paid Â£134m ten years ago & has overseen two relegations.
"Shirt sales and 50,000 crowds in stadium unused 340 days a yr doesn’t justify price."