There is certainly no doubt that the Newcastle United takeover saga is the most complicated case the Premier League has ever handled.
Any ownership takeover process takes time and the Newcastle fans will have to be patient.
Both the buying and the selling parties remain confident that the deal will go through, but the Premier League are facing objections over the issues of the violation of human rights and piracy.
A deal in the region of £300 million has already been agreed between Mike Ashley and the Newcastle potential owners. The potential new owners have signed a contract and a part payment, that is non-negotiable, has been paid to Ashley as well.
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.
George Caulkin, arguably one of the best journalists around covering Newcastle United, has been trying his best to keep the fans updated with whatever little details he is gathering on a day-to-day basis.
The Athletic journalist has claimed on Twitter that the would-be Magpies owners are in contact with the Premier League officials. However, they are frustrated that the process is taking longer than usual.
He further adds that they’ve been answering further questions before the Premier League this week.
Everyone is frustrated. But yes they are. They’ve been answering further PL questions this week.
— George Caulkin (@GeorgeCaulkin) June 3, 2020
I’ve not been told that, but I don’t know is the honest answer. They’ve been answering piracy related questions this week, apparently.
— George Caulkin (@GeorgeCaulkin) June 3, 2020
It seems the Premier League has been conducting a rigorous background check following allegations of broadcast piracy against the Saudi consortium.
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