Football finance expert questions Mike Ashley's Newcastle asking price

Lee Charnley and Mike Ashley
Lee Charnley and Mike Ashley

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 £300million, which included performance-based add-ons, rejected by Ashley.

The cash value of the offer was worth significantly less than that figure.

READ MORE: Mike Ashley waits on fresh Newcastle bid

Ashley, according to a report in The Times yesterday, wants £350million for the Premier League club, which he bought a decade ago for £134million.

However, Kieran Maguire – who lectures in football finance at Liverpool University and runs the site – has questioned that valuation on Twitter.

Maguire tweeted: "Difficult to see how #Ashley can justify £350m asking price when he only paid £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."