The Newcastle United takeover saga is possibly one of the most complex cases the Premier League has ever handled.
According to Mark Douglas of The Chronicle, the takeover process is at a ‘delicate stage’, as the protracted owners and directors test goes past two months.
The would-be new owners – Amanda Staveley’s consortium — comprising her company PCP Capital Partners (10 per cent), the billionaire Reuben brothers (10 per cent) and the 80 per cent majority stakeholding of Saudi Arabia’s Public Investment Fund (PIF) – have done their part, and are awaiting the official confirmation from the Premier League.
However, there is a strong belief in both the buying camp and the selling camp that the deal will go through. And that is why, despite the impasse, behind the door work has already taken place.
The Shield Gazzette has reported earlier today that the Magpies are already in the process of appointing two former Liverpool staff – Owen Brown and Frank McParland – and they are favourites to play a prominent role at St James’ Park.
Now the Chronicle journalist claims that there has been contact and dialogue exchanged between the current hierarchy and would-be owners on contract matters (players and staff) and other significant issues regularly.
He claims that ‘there’s been no let-up in preparatory work’ and their first priority at this moment is to sort out whose contracts should be left to expire and who should be given a new deal.
Douglas also adds that Ashley feels that he has now done enough to facilitate a sale, and wants the takeover to go through at the earliest.