PCP Capital Partners owner and finance broker Amanda Staveley is set to start a £1.6 billion legal battle with Barclays this week, and it has been claimed that she would have to put Newcastle United’s £300 million takeover bid aside.
She is set to appear in court today, and while it’s not known if that will have any effect on the bid she is currently fronting, The Athletic’s George Caulkin believes that the fact that the legal battle will take a lot of her time isn’t ideal.
Nevertheless, the journalist reckons it isn’t likely to have any disruption on Newcastle takeover as it is completely left to the Premier League to give the green light once they are ready.
He explained it all in this tweet:
It is in some senses, yes. Staveley has a big case with Barclays coming up and that has to take up a lot of her time now. Not ideal. But it’s up to the PL to do it when they’re ready.
— George Caulkin (@GeorgeCaulkin) June 6, 2020
The Premier League’s Owners’ and Directors’ Test is now entering its third month, and there is nothing to indicate that it will reach a conclusion soon.
Staveley, Saudi Arabia’s Public Investment Fund and the Reuben Brothers answered new sets of questions about beoutQ’s piracy last Wednesday as the Premier League continues to peruse the World Trade Organization’s 123-page document sent to them.
Staveley would have loved to solely focus on the Magpies takeover at the moment, but the scheduled court case with Barclays will now take some of her attention.
Luckily, that isn’t expected to have any effect on the job at hand, and Newcastle fans just want to see the back of owner Mike Ashley sooner rather than later.
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