According to Daily Mail’s Craig Hope, nothing is expected until next week at earliest as far as the Newcastle United takeover is concerned, with the Premier League approval and the transfer of funds to owner Mike Ashley the only two hurdles left to be scaled.
Appears Sheff U development has nothing to do with NUFC. But re takeover, latest message is nothing expected until next week at earliest. Two hurdles left 1) PL approval 2) transfer funds. Those close to deal expect no issues with either but are placing no timeframe on completion https://t.co/i4cgLmBLwE
— Craig Hope (@CraigHope_DM) May 21, 2020
It has been six weeks since Saudi Arabia’s Public Investment Fund started intensifying their efforts to complete the £300 million takeover of the Magpies, with the Premier League’s Directors’ and Owners’ test taking longer than anticipated.
A £17 million nonrefundable deposit has already been made almost three weeks ago, and the would-be owners remain very confident that the move will go through.
As reported by the Chronicle, the takeover proposal has made it through the latest round of the Premier League’s owner’s and director’s test with no complications, with the thorough examination of the takeover approach by Amanda Staveley, the Reuben brothers and Public Investment Fund now in the final stages with no hiccups.
Candidates for the managerial and director of football roles have been identified and contacted, and it is now a matter of when, and not if, the takeover will go through.