Controversial High Street billionaire Mike Ashley is set to close down Newcastle United’s retail store, with Rangers retail partners Castore set to announce a new deal with the club.
Ashley’s presence at Newcastle United is a continuing frustration for the Toon Army and there has been much talk of a £300m Saudi-led takeover of the club.
According to the Daily Mail, Ashley’s decision to close the store is an inclination that the takeover is back on the cards with the newspaper claiming all staff have also been made redundant.
This situation is reportedly a stipulation of the takeover arrangement with the club store currently under the ownership of Ashley’s controversial Sports Direct group.
Under the proposed deal, Newcastle United would come back into ownership of the retail unit in what would prove a considerable boost to the club, if not the store’s current staffers.
According to the Mail, Castore are set to be announced as the club’s new retail partners in a £5m deal which will see the St. James’ Park club become only the second in their footballing portfolio.
The proposed Saudi takeover at Newcastle United – also in part funded by Amanda Staveley and the billionaire Reuben brothers – collapsed last year after it failed the Premier League’s fit and proper persons test.
This, according to the Mail, was because the Premier League could not distinguish between the state of Saudi Arabia and the nation’s Public Investment Fund, which was leading the takeover.
The report claims Ashley and all invested parties are set to challenge the decision with the retail store closure considered a positive step in this regard.
Rangers signed a long-term kit deal with Liverpool-based retailers Castore in the summer, ending years of a tumultuous retail battle with Ashley, with the initial contract said to be worth £25m [Scotsman].
Castore recently earned the applause of Rangers supporters after they took aim at their Celtic rivals in a special billboard campaign following the Gers’ title victory.
