Ashley closes in on complete Newcastle buy-out

Billionaire businessman Mike Ashley is on the verge of completing his buy-out of Newcastle after increasing his share in the company.

In a statement to the Stock Exchange, Ashley’s takeover vehicle St James’ Holding Limited (SJHL) revealed they owned, controlled or had received valid acceptances in respect of a total of 124,043,657 Newcastle United shares, representing approximately 93.19% of the existing issued share capital of the club.