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Keith Downie provides latest update on Newcastle United takeover

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Mike Ashley

It’s been all quiet at Tyneside, and Newcastle United fans are understandably anxious about it.

While journalists closely associated with the club are quite confident that the deal will go through, doubts persist as long as it hangs in the balance.

The prospective new owners are pretty confident that they will get the clearance from the Premier League but how long will it take is unknown. The Chronicle has claimed earlier that it could be the deciding week in the takeover process.

Keith Downie, a well-known journalist working for Sky Sports, has taken to social networking site Twitter to express his reaction. He claims that the current situation is not unusual.

A deal in the region of £300 million has been agreed between Mike Ashley and the Newcastle potential owners. A part-payment of £17 million has been paid already, which is non-refundable, while the remaining part will be paid once they get the green signal from the Premier League.

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) – are waiting for the Premier League to approve the deal.

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