Home News mark douglas provides latest update on newcastle united takeover

Mark Douglas provides latest update on Newcastle United takeover



We sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy.
Amanda Staveley

As we enter week 13 of the Newcastle United takeover saga, everyone is still in the dark about what the outcome will be.

The Premier League chief executive, Richard Masters, hinted yesterday that the Magpies takeover could be concluded shortly.

He has clearly mentioned that there has been no pressure on them from the UK government but at the same time he was warned by MPs that it would be humiliating to allow a Saudi Arabian consortium to take charge.

The Saudi government does not hold a great record on piracy and human rights. The Premier League has been asking questions to the potential buyers again before coming to the final decision.

Labour MP Julie Elliott has criticised Masters for keeping Newcastle fans in the dark.

In a Q/A session with the fans, The Chronicle journalist Mark Douglas has claimed that he was told last Sunday that the decision from Premier League would come within the next 48 hours.

He adds that there’s a massive belief within the Saudi consortium that the takeover won’t be blocked. If the Premier League gives the green signal, the confirmation could arrive a few days later because the rest of the money would need to be transferred to Mike Ashley.

Douglas wrote: “Last Sunday I was told it would be done in a couple of days so I think there’s a massive belief from the consortium that there’s nothing substantive that will block it. It depends on perception: clearly others think differently. Of course, if ODT is passed, confirmation could / would be a few days later anyway because money has to be transferred to MA.”

As of now, Ashley has already agreed a £300m deal to sell Newcastle, and a part payment has already been made, which is non-refundable.