The waiting game continues regarding the Newcastle transfer saga as we head into another month. Although there is a firm belief that the takeover will eventually take place, the wait is not only causing frustration but is creating doubts amongst the fans as well.
Last month, at one point it looked like the deal would get the green signal shortly. However, Premier League chief executive, Richard Masters, has poured cold water over the excitement by saying there’s no time limit within which they have 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. There’s no doubt that this is the most complex ownership cases they’ve faced thus far.
The issues of piracy and human rights violation can’t be rejected outright. The Chronicle journalist, Lee Ryder, has shared the latest information on the matter in a Q/A session yesterday. Here are some of the excerpts:
“The Premier League insist there is no time limit. They are basically saying it will take as long it takes and the football will get played around it. They are aiming to get to what they see as the right decision which ticks all the boxes and criteria in place.
“I think it’s frustrating for everybody but no matter which club they wanted to buy in the Premier League it would take time. The PL will also have to respond to any concerns they have too, whether that is part of the test or not. If somebody writes a letter to Richard Masters he has to repsond to it.
“Even the Premier League admitted that the test hadn’t been passed the other day by stating “when” the decision comes through it will be the right one.”
Mike Ashley is willing to sell and the buyer is willing to buy. But 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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