Newcastle consider Ashley offer

My Account
Logout

Create an Evening Standard Account

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Welcome! Sign in here

Use your social network

Save time by using your existing account to sign in to Evening Standard

We'll never share your information or post anything to your account without your permission

Forgot your password ?

Registration

* indicates fields that are mandatory

Email *

Password *

Confirm Password *

First name *

Surname *

Postcode *

Country *

Mobile phone number

Username *

Gender *

Year of birth *

When you sign up...

You will have access to all our online competitions, discounted offers and can post comments on our site.

You will also receive The Weekender newsletter sent every Thursday - it’s full of fantastic offers and ideas for the weekend. You can update your email preferences in your account page when you log in.

Other newsletters and emails

Homes & Property Newsletter - Yes I want to receive the weekly email with all the latest news on property in the capital

Occasionally we would also like to send you relevant emails detailing specific offers either from ourselves or carefully selected partners. If you would prefer not to receive these then please tick the appropriate boxes below. We will never pass on your details.

I do not want to receive additional offers and information from the Evening Standard

I do not want to receive additional offers and information sent by Evening Standard on behalf of carefully selected partners

Terms and Conditions

* I have read, understood and agree to be bound by the terms and conditions of Evening Standard

Registration

Mail Sent for Registration Confirmation.

A confirmation email has been sent. Please activate your account by clicking on the activation link sent in your mail box.

The board met Ashley, who recently bought a 41.6% stake in the club from Sir John Hall's family, to determine his intentions for the club.

Under stock exchange rules, he was required to submit a formal takeover bid and today's announcement appears to have taken his St James' Holdings Limited group close to that goal.

A statement from the board read: "Further to the announcement by Newcastle United PLC on 25 May 2007, the board of Newcastle United announces that there was a meeting with Mike Ashley and his team earlier today at which there was a useful and constructive discussion.

"The board will now consider its response to the offer from St James Holdings Limited. A further announcement will be made in due course."

The sportswear tycoon invested £55million in becoming Newcastle's biggest shareholder but a full takeover would be worth £133.1million.

Last week, the board announced their intention to meet with Ashley, who City analysts believe will have no difficulty in reaching the 50%-plus mark which was the condition of his 100p-a-share offer.

However chairman Freddy Shepherd, who holds a stake of around 29.8%, will be key to his hopes of acquiring the 75% he would need to make full control almost inevitable.

The publicity-shy Ashley's investment has prompted hopes on the part of the fans that he could be prepared to pour more of his estimated £1.9billion fortune into strengthening on the pitch.

Manager Sam Allardyce is already planning his summer spending, but may yet have a bigger-than-expected budget with which to play.