Steve Howey explains the dilemma facing potential Newcastle investors, tells Rafa Benitez what must happen

Follow us on Google Discover

Newcastle United owner Mike Ashley is yet to receive ‘acceptable’ offer for the club and Steve Howey thinks he knows why.

Unpopular Newcastle owner Ashley has not received any “acceptable” offers for Newcastle a year after he officially put the Premier League club up for sale (Sky Sports).

Ashley’s lawyer appeared on Sky Sports News last October to announce that Ashley had taken Newcastle as far as he could.

The Sports Direct boss insists he will not sell the Magpies unless he receives assurances that prospective new owners have the funds to take the club forward.

Businesswoman Amanda Staveley tried to buy Newcastle for £250m last year and last month there were reports that former Manchester United and Chelsea chief executive Peter Kenyon was trying to form a consortium to take over at St James’ Park.

The latest speculation is that a group of Saudi Arabian investors are the latest interested party but there remains an impasse.

And Newcastle legend Steve Howey has explained the dilemma facing potential investors when discussing the situation at St James Park on Sky Sports’s The Debate.

“Listen it seems like a Mexican stand off,” Howey told The Debate.

“But Newcastle have been so unlucky when you think about the teams they’ve face so far which is Man City, Man United, Tottenham, Arsenal, Chelsea. But the big problem they’ve got now is the next four games, three of them are at home, Brighton, Watford, Bournemouth.

“If they don’t get the full nine points then again it’s a situation where you’re looking down the barrel.

“They need investment (in January) but will there be that takeover? The owner wants £300 million, if I’m an investor and I pay £300 million I’m thinking there’s going to be probably another £100 million needs spending on players in January.

“Now there’s £400 million, now what happens if they go down because then it (the value of the club) plummets to about what £150 million? So there’s a massive risk to them (investors) but there’s always a risk in football.”