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.
Appears the WTO itself has not weighed in on the Newcastle deal specifically. It's not the WTO's place to comment on that. The report which is out later deals with the specific issue of piracy and Saudi attempts to block legal action by rights owners, Pl, FIFA, UEFA etc
— tariq panja (@tariqpanja) June 16, 2020
When told that a BBC journalist has reported this news, Panja has confidently answered:
you might want to ask him to double check.
— tariq panja (@tariqpanja) June 16, 2020
you can. I have the same answer. Newcastle is not referenced.
— tariq panja (@tariqpanja) June 16, 2020
Perhaps. That would be pretty wild given the depth of the dispute, touches into all relations between the two countries, has split families up.
— tariq panja (@tariqpanja) June 16, 2020
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.
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