Football

Ashley continues Newcastle buyout

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Mike Ashley needs less than 13% of Newcastle´s remaining shares to become the sole power broker at St James´ Park.

The billionaire businessman is on course to take the club back into private ownership after Friday´s increasing his stake to 77.06%. The bulk of business involved the purchase of chairman Freddy Shepherd´s 28.01% share, taking Ashley over the 75% required to de-list Newcastle from the London Stock Exchange.

A statement from Ashley´s investment vehicle, St James Holdings Limited, on the club´s official website, www.nufc.co.uk, read: "SJHL now intends to procure the making of an application by Newcastle United to the London Stock Exchange for the cancellation of trading of Newcastle United shares and to the UKLA [UK Listing Association] for the cancellation of Newcastle´s listing."

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Topics:
Football
Premier League
Newcastle United

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