George Caulkin is arguably one of the best journalists in the country covering the North-east clubs, and especially Newcastle United.
The Athletic journalist has been providing all the latest updates on the takeover situation from the beginning, and the journalist has claimed he has been in contact with the club’s potential new owners. He has delivered the latest update on the takeover today on Twitter.
The prospective 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) – are waiting for Premier League’s approval for the deal to go through.
However, the reports of a second new bidder have confused the fan base. According to Mirror Sports, US media mogul Henry Mauriss is hoping Saudi Arabia’s Public Investment Fund’s £300 million takeover of Newcastle United falls through as he readies a rival bid worth £350 million.
Caulkin suggests that once the Premier League gives their approval, which he thinks will be ‘very soon’, there would be no way the takeover could be stopped unless they failed to pay the amount.
Once the PL give approval which they will, very soon, the only thing that could stop it would be the money not appearing in Ashley’s bank. That’s what I’m told. The money transfer is likely to take a few days, because that’s how it works.
— George Caulkin (@GeorgeCaulkin) April 28, 2020
It has been reported earlier that the would-be owners have already paid a fraction of the sum, which is non-refundable, while the remaining amount will be paid after the Premier League gives the green signal.