Mike Ashley looks set to take over Newcastle United FC after buying club chairman Freddy Shepherd’s 28 per cent stake for £37.6 million.
Last month Ashley purchased former chairman Sir John Hall’s 41.6 per cent stake in the club for £55 million. The billionaire retail tycoon needs 75 per cent of the club’s shares to trigger a full takeover – he currently has a 70 per cent stake.
The Newcastle United board has urged other shareholders to accept Ashley’s 101 pence per share offer.
