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Mike Ashley 'names revised price for Newcastle United takeover'

A report claims that Newcastle United owner Mike Ashley is holding out for £350m from Amanda Staveley's PCP Capital Partners, which he is confident of receiving.

Newcastle United owner Mike Ashley is reportedly still hopeful of a sale of the club being completed after naming a revised valuation.

The Magpies are the subject of a takeover bid by Amanda Staveley's PCP Capital Partners, whose first offer was rejected by Ashley last week.

A follow-up bid is expected in the coming days, however, and The Times claims that the Sports Direct tycoon will shake hands on an offer of £350m - £50m more than Staveley's group initially offered.

Staveley is said to have tabled a one-off payment, with no incentivised clauses included, but it was significantly below Ashley's valuation.

The same report suggests that an ongoing tax investigation surrounding Newcastle has also presented a stumbling block, which will be factored into the next offer.

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Newcastle United's English owner Mike Ashley applauds as he waits for the kick off in the English Premier League football match between Newcastle United and West Ham United at St James Park, Newcastle-Upon-Tyne, north east England on May 24, 2015
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