As we head into another month, it’s still unclear when (and if at all) the Newcastle United takeover will go through. The delay is creating doubts amongst the fans.
It took nearly eight weeks for the Premier League to give a green signal during the Southampton ownership takeover. Therefore, patience is required here as this is not only a complex case but the football organisation and people across the world in general, are going through an unprecedented situation.
In May, it looked like the deal would get the green signal. However, Premier League chief executive, Richard Masters, had poured cold water by saying there’s no time limit to which they need to come to a decision.
A potential £300million buyout of the club, brokered by Amanda Staveley’s PCP Capital Partners but bankrolled by the Saudi Arabian Public Investment Fund, who will own 80% of the Magpies, is going through the Premier League’s Owners and Directors checks.
The issues of piracy and human rights violation can’t be rejected outright. In fact, according to George Caulkin, arguably one of the best journalists covering Newcastle United, the Premier League are moving ‘back and forth’ with their decisions regarding piracy.
He has further added that his confidence that the deal will go through hasn’t wavered. The seller (Mike Ashley) want the money while the potential buyers are very confident about the deal. Check out his tweets:
My confidence hasn’t wavered but my confidence isn’t the point. The buyers have always been bullish, the sellers want their money & expect it to happen. Both sides have had positive tip offs & guidance. BUT, the decision still hasn’t come. So … we just have to wait.
— George Caulkin (@GeorgeCaulkin) June 2, 2020
No, I wouldn’t say that because I don’t know or particularly understand the processes. I do know we’re living through unprecedented times & can only imagine the complexities that adds to an already complicated matter. I’d like a decision though!
— George Caulkin (@GeorgeCaulkin) June 2, 2020
I’ve never said it’s soooo confidential. I’ve been speaking to some of these people almost every day of my life for more than three years. It’s kind of my job. It still hasn’t been signed off.
— George Caulkin (@GeorgeCaulkin) June 2, 2020
It’s not that Andy. They’re still going back and forth over piracy.
— George Caulkin (@GeorgeCaulkin) June 2, 2020
The final decision rests with the Premier League itself. As of now, the potential buyers have already paid a part of the deal, which is non-refundable, to Ashley, while the remaining will be paid once they get the clearance from the Premier League.
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