With the Premier League now in the 15th week of their owners’ and directors’ test, the Newcastle takeover saga is still stuck in limbo.
The Premier League are taking a lot of time to come to a decision, and yet no one really knows what the outcome will be.
According to reports from The Athletic, Newcastle owner Mike Ashley has agreed to sell to the consortium led by Amanda Staveley, the financier, and 80 per cent funded by Saudi Arabia’s Public Investment Fund, and has already signed all the necessary paperwork.
He is emotionally detached from the club, and once the Premier League gives the green signal, the transfer of money becomes a formality and a £300 million deal will be complete.
Staveley’s group have always been confident that their bid will be passed, while the opposition – including beIN Sports, the Qatar-based broadcaster – are adamant that it will fail.
Henry Mauriss, the CEO of US media company ClearTV, has shown interest in the takeover process. The Athletic claims that in recent days, a fresh broker, who claims to be acting on behalf of yet another potential purchaser, has reached out to prominent figures to buy Newcastle.
With the transfer window all set to open in a weeks’ time, the Premier League must come to a decision at the earliest.