George Caulkin of the Athletic has once again reiterated that the would-be owners are confident that the deal will go through.
The potential new owners – the Public Investment Fund of Saudi Arabia, Reuben Brothers and PCP Capital Partners – have already agreed a £300m deal with Mike Ashley and has paid a part-payment in the region of £17m which is non-refundable.
The World Trade Organisation has released a report yesterday that could have a major impact on the Newcastle United takeover process.
The 125-page World Trade Organisation (WTO) report states that the Kingdom of Saudi Arabia was behind beoutQ – a pirate satellite TV and streaming service that illegally broadcasts sporting events.
However, amid all these, Caulkin has suggested that the potential owners are confident that the deal will be passed by the Premier League.
He wrote for the Athletic that their confidence stems from the conversation and the feedback they have received till now from the Premier League.
Caulkin adds that the potential owners feel that they have provided everything asked of them by the Premier League. However, the belief has been tainted by the time it is taking for the takeover to recieve the green signal.
Amanda Staveley and her closest advisors have invested three years for the project to come to fruition. They didn’t expect this delay. Mike Ashley wants out and a new board of directors has been established already.
Caulkin wrote: “That confidence has not been pie-in-the-sky, la la la la, finger-in-the-ears optimism, but based on feedback they have received from the Premier League before and during what has become a very wearing process (don’t forget that it has been a two-way street; not just awaiting a decision, but being asked and answering questions).
“Yes, because the prospective buyers believe they have done everything asked of them by the Premier League but the atmosphere has also been tainted by the length of time this has taken.
“For some people, this deal has been at least 13 months in the making. For Amanda Staveley and her closest advisors, make that three years.
“Will it happen? That remains the £300-million question. The fee has been agreed, the contract signed, the details are set down in black and white, the plan is in place, Ashley wants out, a new board of directors has been established and they are ready to go.
Fundamentally, though, it’s down to the Premier League. They give regulatory approval. Excitement and anticipation have been replaced by irritation but this last bit just has to play out in its own time.”
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