Home News report only two things can scupper newcastle united takeover

Report: Only two things can scupper Newcastle United takeover

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Amanda Staveley

Newcastle United were comfortably placed 13th in the Premier League table, before football took a long break due to the global health crisis.

The Premier League is all set to resume on June 17th, and Newcastle United have a battle on their hand to prevent themselves from getting relegated.

According to reports from The Daily Mail, the delayed £300 million takeover of the club does not “include any allowance for relegation given the Saudi-led consortium expected to be in control long before the season’s resumption.”

To put it simply, the deal does not include any clauses that relate to the possibility of relegation or European qualification.

The potential new owners – the Public Investment Fund of Saudi Arabia, Reuben Brothers and PCP Capital Partners – have already agreed a £300m deal to buy Newcastle United from Mike Ashley, and a part-payment in the region of £17m has been made already.

Despite concerns over matters relating to piracy and human rights violation, the Saudi owners are ‘relaxed about the situation.’

The only two things that can now scupper the takeover are – a) if the Premier League decide to block the deal, and b) the buyers fail to produce the money after the approval.

The Saudi-backed consortium are wealthy benefactors, and therefore, it’s highly unlikely that they would fail to produce the money. At this moment, they are awaiting the League’s decision, on which there is no timeframe.