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Could Newcastle United takeover be off as Mike Ashley prepares £50 million transfer budget?

According to The Sun’s Alan Nixon, Newcastle United are set to be handed a £50 million transfer kitty this summer by owner Mike Ashley.

While that comes as a potential huge boost for head coach Steve Bruce, it could be bad news for Newcastle fans.

The Magpies faithful want Ashley gone as soon as possible, with Amanda Staveley-led Public Investment Fund looking to revive their £300m takeover after pulling out last summer.

The Newcastle chairman also wants out, and is hoping the arbitration hearing against the Premier League will go in his favour in a bid to have the takeover approved.

However, Ashley’s decision, if true, to provide £50m in transfer funds this summer does not look like what someone who is preparing to leave St. James’ Park would take.

The Magpies boss has refused to bring out the chequebook and spend heavily in recent, and deciding to start doing that does not make sense.

Unless he sees himself still in charge of the club for a while.

Newcastle spent £35m on Callum Wilson and Jamal Lewis last summer, signing three other first-team players on a free, and fans were expecting a lower budget this summer.

The Daily Mail recently claimed Ashley was only planning to provide around £12m to spend this summer, and that Bruce would have to rely on any revenue raised through sales to boost the transfer coffers.

It appears he has changed his mind, and while nothing is certain, providing £50m for transfers is not what someone anticipating a takeover would do.

It will be interesting to see how Newcastle summer goes, and all eyes remain on the Staveley and the Saudis, with fans hoping their bid to buy the club goes through.

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June 2021