Newcastle United owners ‘ready to swoop’ – if Mike Ashley fails with ‘offer’

Former Newcastle United owner Mike Ashley is reportedly considering investing in another club.

Former Newcastle United owner Mike Ashley is ready to make an offer to Yorkshire County Cricket Club, according to a report.

The Daily Telegraph claim that Ashley – who has bought Coventry City’s home stadium since selling the Premier League club – will next week offer a cash injection.

Ashley will reportedly “outline his formal proposal imminently” amid competition from other prospective financial backers. The Sports Direct founder is not looking to buy the club, according to the report.

The report also states that “intermediaries representing Saudi Arabia’s Public Investment Fund are also ready to swoop if talks stall”. There is also said to be interest from India.

Yorkshire’s debts are said to total around £16million.

Ashley sold Newcastle to a consortium led by financier Amanda Staveley in October 2021 in a £305million deal. The club is now 80%-owned by the Public Investment Fund.

United have prospered since the sale, and the club this week qualified for Champions League football for the first time in 20 years.