George Caulkin: The would-be Newcastle owners have ‘signed the contract’

Amanda Staveley

The delay in the Newcastle United takeover process is creating all sorts of confusion among a certain section of the fans.

While the well-connected journalists at the club have done their best to reassure everyone that there’s nothing to worry about, not all fans are equally confident about the deal.

A deal in the region of £300 million has been agreed between Mike Ashley and the Newcastle potential owners. The deal has been agreed, and the sum has been paid.

The would-be new owners – Amanda Staveley’s consortium — comprising her company PCP Capital Partners (10 per cent), the billionaire Reuben brothers (10 per cent) and the 80 per cent majority stakeholding of Saudi Arabia’s Public Investment Fund (PIF) – have done their part, and are awaiting the official confirmation from the Premier League.

One fan has suggested on Twitter that given how oil prices have dropped, it could be a PR disaster from the Saudi owners.

The ever-reliable George Caulkin, of The Athletic, has quickly allayed the fears by saying that the potential new owners feel the Newcastle project is a long-term investment, and that they have already ‘signed the contract’.

Now, this is new information and certainly the most crucial one. If they are not confident about the deal, they wouldn’t have signed a contract in the first place.

It also indicates that it is only a matter of time before the Premier League rubber-stamps the deal. Having said that, Caulkin has also claimed that the deal has not been done yet.