According to Saudi Arabian journalist Tariq Al Nofal, the Public Investment Fund’s takeover of Newcastle United is done.
He took to Twitter to post thus:
#NUFC done 🇸🇦💚
— طارق النوفل (@TARIQALNOFAL) May 1, 2020
An official announcement is yet to come out, but it’s believed that the takeover will be completed this month.
On Tuesday, the Athletic’s George Caulkin claimed that the English Premier League would complete its Owners’ and Directors’ test on would-be Magpies owners the next day, and it is unknown if that is done.
Despite protests from Amnesty International and beIN Sports, it appears that the £300 million takeover will still go ahead without any hindrance, and if Tariq Al Nofal is to be believed, everything has already been wrapped up.
The Saudi consortium is backing PCP Capital Partners’ owner and finance broker Amanda Staveley and the Reuben Brothers, with 80% of the shares set to be theirs.
Staveley has already deposited a non-refundable £17 million with Newcastle owner Mike Ashley, and that is seen as a sign that the parties involved are very confident that the takeover won’t fall through.
The businesswoman has attempted to engineer a takeover of the club on previous occasions, and she is now edging closer to succeeding from the look of things.
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