Home News henry winter provides latest update on newcastle united takeover

Henry Winter provides latest update on Newcastle United takeover

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Mike Ashley

The Newcastle United takeover is turning out to be one hell of a saga where nobody knows what the outcome will be.

George Caulkin of The Athletic and other reliable journalists have been telling us for the past couple of months that both the buyer and the seller are confident that the deal will go through.

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.

And this is where it is taking a hell lot of time, bordering on frustration at times.

The Magpies have been waiting for a decision for two months now, and Lee Ryder claims that Newcastle’s future is now firmly in the hands of Richard Masters, the Premier League chief executive.

Henry Winter, one of the most revered journalists working for the Times, has shared latest information on the takeover.

Winter is absolutely spot on here. It is indeed a ‘very complex’ situation, but he feels the club will be sold, with the Saudis being the frontrunner in the race.

He claims that the Americans are very serious about the deal and they are keenly following the saga with interest. They have funds in place and could move for ownership if Amanda Staveley’s group fails in the takeover bid.