Tuesday, August 9, 2022

Former Newcastle United owner Mike Ashley in talks with Derby County for £50m takeover

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After being replaced as the owner of Newcastle United, Mike Ashley is being linked with a return to club ownership. This time, he is set to take over Championship club Derby County. The Saudi Arabia Public Investment Fund purchased majority stakes of the Magpies from him back in October. 

According to reports, he is in advanced negotiations for a £50 million takeover of the Rams. Over the last 48 hours, he has been in talks with the administrators of the club, and could close in on the deal very soon. 

His bid is the largest received by Quantuma, the administrators of the Championship club. 

Derby County set to be taken over by Mike Ashley? 

The former Newcastle United owner’s valuation is more than the one by by General Sports Worldwide, a consortium which includes former Derby chairman Andrew Appleby, former chief executive Sam Rush and Wolves’ former CEO Jez Moxey. 

On Christmas Eve, it was reported that a bid for the club was ‘imminent’, and the announcement could now be imminent. 

Mike Ashley’s Sports Direct company is located very close to the Pride Park stadium. Due to the proximity of the two establishments, it makes even more sense for the takeover to go through. 

Derby County are struggling in the Championship, engaged in a relegation battle. They had 21 points deducted after being sent into administration. But, Wayne Rooney is doing a remarkable job with the Rams, and could help them survive the drop to League 1 this season. 

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Arsh Das
Arsh Das
A music enthusiast, also passionate about football and bringing you the latest in the sporting world every day.

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