Report: Newcastle takeover deal finally finally near to being sanctioned

Mike Ashley
Mike Ashley

It seems that the Premier League are set to announce their decision on the Newcastle United takeover in the next few days.

According to reports from Louise Taylor of The Guardian, the verdict will go in the potential Newcastle owner’s favour. The Premier League has taken 11 weeks to give approval to the contentious £300m Saudi-led takeover which will free the Newcastle fans from the misery of Mike Ashley’s 13-year ownership and make their club England’s richest.

Taylor writes that sources close to the deal believe that ‘it is finally near to being sanctioned’.

Earlier this week, The World Trade Organisation released a report where it was stated that the Kingdom of Saudi Arabia was behind beoutQ. The ruling raised serious questions over whether the Premier League can approve the £300m takeover bid from the Saudi consortium.

Along with the complexity of piracy, the potential owners face objections from the human rights group as well.

The saga took a fascinating turn this week when The Chronicle reported that American businessman Henry Mauriss and his firm have lodged a formal offer to buy Newcastle United.

The report claimed that the proposal from Mauriss was worth £350 million.

We all know that Mike Ashley has already agreed a £300m deal to sell Newcastle, and a part payment has already been made, which is non-refundable. The potential new owners – the Public Investment Fund of Saudi Arabia, Reuben Brothers and PCP Capital Partners – are waiting for the final verdict from the Premier League.

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