Newcastle owner can walk away from negotiating table with £17m

Newcastle United owner Mike Ashley can walk away from the negotiating table after pocketing the deposit paid by the Saudi Arabian consortium.

The Daily Mail says Ashley stands to bank a sum in the region of £17m if the sale of Newcastle does not go through.

The deposit paid by the consortium led by Amanda Staveley is non-refundable, meaning Newcastle owner Ashley gets richer even if the takeover is not ratified by the Premier League. It is the surest sign yet that Staveley is confident there will be no hold-ups.

It also explains why Staveley and her partners, the Public Investment Fund of Saudi Arabia and the Reuben brothers, have been so cautious about celebrating the deal, given the volatile nature of previous takeover attempts.

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It has been suggested the purchase is complete, pending Premier League approval, but the balance of the money — roughly £283m — will only be paid once the documents have been signed off.