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Takeover Watch 2018: Sports Direct Releases Filing to Buy Back Shares

Once again, this could be nothing, or it could be everything

Tottenham Hotspur v Newcastle United - Premier League Photo by Steve Bardens/Getty Images

Another day, another straw to grasp at.

On Tuesday, it was reported that Amanda Staveley, potential Newcastle United buyer, had registered a new company to act as a financial intermediary in some future business deal, a registration that many Newcastle supporters hope to be related to a takeover but was confirmed by sources close to Staveley to be related to another piece of business.

There is more business registration news to speculate about today, as Sports Direct, the sporting goods company of Newcastle owner Mike Ashley, has released a filing concerning a buyback of company stock.

As with Tuesday’s reports, there are plenty of non-Newcastle related reasons for Ashley and Sports Direct to be filing such a motion. This could simply be an effort at consolidating ownership and power of Sports Direct. However, if Sports Direct, and more directly Mike Ashley, are interested in purchasing back shares of the company, it would stand to reason that he could soon be on the receiving end of an influx of cash – the real kind, not the kind that is actually wallpaper and prevents him from spending money on United. Where could this cash be coming from? Could it be coming from one Cantervale Limited?

To reiterate, there is plenty of reason to be skeptical that this is in any way related to the sale of Newcastle United; however, given Staveley’s creation of a new intermediary and Ashley’s original hope to have sold the club by now, supporters can be forgiven for connecting any and all dots.

Stay connected to Coming Home Newcastle through January as we discuss the takeover of the club and any dealings in the transfer market.