Mike Ashley rivals Newcastle United’s PIF owners in major £16m sports deal

Mike Ashley and PIF are looking to invest in the same sports club.
By Evie Lake
Published 29th May 2023, 07:00 GMT
Updated 29th May 2023, 07:30 GMT
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Former Newcastle United owner Mike Ashley is preparing to re-enter the North East sporting scene by offering to rescue Yorkshire County Cricket Club.

According to The Telegraph, Ashley is not looking to buy the cricket club but is willing to provide a cash injection needed to rescue it from its £16 million debts.

Mike Ashley Picture: Kirsty O'Connor/PA Wire.Mike Ashley Picture: Kirsty O'Connor/PA Wire.
Mike Ashley Picture: Kirsty O'Connor/PA Wire.
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However, this puts the Sports Direct billionaire in competition with Newcastle United’s current owners, Saudi Arabia’s Public Investment Fund (PIF), who are also willing to come to the club’s aid.

The Telegraphs suggests Ashley would love to beat PIF to securing the relationship turning sour during the £300 million takeover in 2021.

Newcastle United fans celebrate Mike Ashley selling the club in October 2021 (Image: Getty Images)Newcastle United fans celebrate Mike Ashley selling the club in October 2021 (Image: Getty Images)
Newcastle United fans celebrate Mike Ashley selling the club in October 2021 (Image: Getty Images)

But things are moving in the 58-year-olds favour as his help appears more ‘palatable’ to the club and members.

Despite Ashley not looking to buy the club and its ground- Headingley Stadium- it is thought if the deal passes he will be thanked with some influence and a seat on the board.

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Related topics:Mike AshleyNorth EastYORKSHIRE County Cricket ClubSaudi Arabia