George Caulkin is arguably the most reliable and the best journalist around when it comes to reporting about Newcastle United.
The Athletic journalist has provided the latest update on the Newcastle United takeover talks.
Caulkin claims that all necessary documents have been exchanged between the two parties. A sum has been paid and both the parties are waiting for the Premier League’s approval which could take upto four weeks.
However, the sources close to the Athletic have told them that “there’s no stopping it now”, which probably means that the potential owners are confident of sealing the £300m deal.
He adds that Staveley and the Reuben family will each own 10 per cent of the business, with PIF holding the remaining 80 per cent. Al-Rumayyan would become the chairman, but Staveley would have responsibility for running the club.
The potential owners have laid down points about the various things they would love to do once the takeover takes place, but the first thing they would do is the club will make a U-turn on their decision to use the Coronavirus Job Retention Scheme for furloughed staff.
Newcastle United have kept their non-playing staff on furlough, but they would be taken off the government’s furlough scheme once the new owners take charge. The club will follow the paths of Liverpool and Tottenham Hotspur and they will right the wrong.
The Magpies fans will be very proud if they do so. More than anything, they will be convinced that the new owners are not just a prototype of Mike Ashley.