The UK First Secretary of State and Secretary of State for Foreign and Commonwealth Affairs Dominic Raab has commented on the prospective takeover of Newcastle United by Saudi Arabia’s Public Investment Fund.
The Premier League is yet to approve a £300 million bid by Amanda Staveley-led consortium to buy the St. James’ Park outfit, with Tuesday’s World Trade Organization’s report on Saudis linked with piracy expected to have a huge say on their verdict.
The WTO ruled that the Kingdom of Saudi Arabia was behind pirate satellite TV beoutQ.
The illegal broadcasting of Premier League games by beoutQ cost beIN Sports millions, and it will be interesting to see what happens in the coming days and weeks.
Raab says the government welcomes foreign investment into football, but insists legal safeguards must be properly followed.
Asked whether Saudia Arabia should be allowed to takeover Newcastle, @DominicRaab tells @KayBurley "it's right that we welcome engagement, investment into football in this country" but legal safeguards must be properly followed.#KayBurley: https://t.co/ZO6Eu9KkpI pic.twitter.com/cpJCeGADMB
— SkyNews (@SkyNews) June 18, 2020
“There is a proper process that we’ve got in place to look at everything from the competition aspect to other questions of propriety. I think it’s right for that due process with all the safety guards in place that it’s got in place is followed. We’ve this debate about takeover in this country and I think we should follow the rule of law,” the Foreign Secretary replied when asked on Sky News if Saudia Arabia should be allowed to take over Newcastle.
“We had the same debate in relation to Abramovich and Chelsea. I think it’s right that we welcome engagement, investment into football in this country, and we’re pleased to see the Premier League back up and running, but also there are legal safeguards to make sure it’s done the proper way.
“This country is an open, outward-looking country. We’ve got investment from all around the world, but we do need safeguards in place. We’ve seen that in relation to 5G, takeovers that national security and other questions of propriety are properly scrutinised. We’ve got the due process and laws in place to do that. We have to trust the institutions we’ve got to deliver that.”
His comments have got many Newcastle fans convinced that the government approves of the takeover, and here is how some of them on Twitter have reacted to the Sky News post:
Sounds like an approval to me? #NUFC https://t.co/2905sVJkTc
— NUFC Gallowgate نيوكاسل (@NUFCgallowgate) June 18, 2020
More positive news coming out this morning via our government
It's happening 🔴🟠🟢 ✅#cans #nufc #nufctakeover
⚫️⚪️⚫️⚪️⚫️⚪️⚫️⚪️⚫️⚪️ https://t.co/7rriloOm6D
— Stevie Goicoechea (@stevengoica83) June 18, 2020
Sounds very positive though why wouldn’t it be. This #NUFCTakeover would be great for the region. Hopefully @premierleague it’s soon. Feel it’s close now. @NUFC 💪🏻⚫️⚪️ https://t.co/WH3Es7oyM6
— Jimmy (@Jimmywoods99) June 18, 2020
this is an approval pretty much? the takeover is getting closer every day 🍻 https://t.co/J3rqoSKWG4
— adam 💎 (@stmaximagic) June 18, 2020
I mean to me this says we welcome it 🤷🏻♂️ #nufc #NUFCTakeover https://t.co/QzqnXZkES5
— Mark (@dobo371986) June 18, 2020
Are you listening Premier League? Get this takeover approved pronto..😉 #NUFCTakeover https://t.co/4vDqlJz6lO
— 𝙎𝙩𝙚𝙫𝙚𝙣 𝙅𝙤𝙝𝙣𝙨𝙤𝙣 🇸🇦 (@StevenNUFC) June 18, 2020
Sky News would not be asking this question unless its been given a green light. CANS 😍😍 #NUFC https://t.co/CWEQmdcLgz
— Miggy Dont Sleep (@MiggyDontSleep) June 18, 2020
@premierleague 👀👀👀🟢💡from @DominicRaab ??? #nufctakeover https://t.co/XqocfRawTp
— NUFC Banta & Kicks (@archieross09) June 18, 2020
Time for the announcement @premierleague #nufc 🍺 https://t.co/7s8pQnj1fd
— Lee Johnson ⚫️⚪️ POPWORLD MAGS 🙋🏼♂️ (@Lee18_92Johnson) June 18, 2020
Positive! https://t.co/53oAnrO4Nz
— Brian Flockhart (@BrianFlockhart) June 18, 2020
The government says #CANS #nufc https://t.co/zgXLIgyTLz
— Craig Thomson (@BooBoy_1) June 18, 2020
The checks must be done/near done by now, surely we should have a decision by the end of next week. The government have basically given the green light for it here #NUFC #NUFCTakeover https://t.co/9f4155Blwz
— Barry Blakely (@BarryBlakely) June 18, 2020
The UK government has made supportive noises about the £300 million bid of PIF, but it has insisted that it cannot be involved in the Premier League’s vetting process of the takeover.
In a leaked letter made available by The Times, the government expressed its support for the PIF’s efforts to boost the economy, and a takeover appears to be on the cards even after 10 weeks of delay.
“There is no government role in this [Premier League] process. The UK government supports Saudi Arabia’s continued diversification efforts under its Vision 2030 strategy,” the letter read.
“Saudi Arabia’s investments through its PIF form part of these efforts. The PIF invests in many sectors internationally, with their potential stake in the ownership of Newcastle United FC part of this wider investment.”
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