Home News tariq panja delivers latest update on newcastle united takeover

Tariq Panja delivers latest update on Newcastle United takeover

updated

on

Mike Ashley

This is turning out to be one hell of a takeover saga, with twists and turns in every corner as the delay goes on.

According to Ian Dennis of BBC, the World Trade Organization report ruling that Saudi Arabia is behind pirate satellite station beoutQ says that “should the Premier League approve the Newcastle takeover by KSA, it would be acting inconsistently with its own decisions and factual evidence as part of the WTO proceedings”.

It caused huge unrest among the Newcastle fan base.

The report could land a huge blow on the Public Investment Fund’s chances of owning Newcastle United, as the Premier League are scrutinising details of piracy.

However, according to Tariq Panja of The New York Times, WTO itself has not weighed in on the Newcastle deal specifically.

When told that a BBC journalist has reported this news, Panja has confidently answered:

A deal of £300m was struck in April with Mike Ashley. The potential new owners are yet to get the green signal from the Premier League.

The would-be new owners are pretty relaxed about the situation, but even they didn’t imagine that it would still be an ongoing process while the Premier League is set for a restart.

The potential new owners – the Public Investment Fund of Saudi Arabia, Reuben Brothers and PCP Capital Partners – have already paid a part-payment in the region of £17m which is non-refundable.