George Caulkin has given an update on the proposed takeover of Newcastle United after responding to a fan on his official Twitter page.
The supporter asked whether the Owners and Directors Test (ODT) is still with the Premier League and whether there was still a chance that the prospective £300 million deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group could be resurrected.
As per his tweet, Caulkin claimed:
“I’m speculating, but I doubt it would have to start all over again.”
I’m speculating, but I doubt it would have to start all over again. But, yes, something would have to shift. There’s big pressure being applied to the PL. Will it work? I’m telling myself it’s over because that’s easier. But it’s deffo worth pushing for transparency anyway IMO.
— George Caulkin (@GeorgeCaulkin) August 4, 2020
Indeed, The Athletic journalist is referring to the test, claiming that he does not think that it would have to be completed again if the bid was to put back on.
The test was already completed some four months ago now by the Saudi-led consortium consisting of the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley as well as the billionaire Reuben brothers, who are originally from India but are now based in London.
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However, the results of these checks have still not yet been disclosed, which are an important part of getting the takeover over the line.
In the end, the buying side grew tired of waiting for the top flight to make their final decision, and so decided to pull the plug on their own deal.
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With the new 2020/21 season fast approaching, coupled up with the fact that the summer transfer window is officially open, perhaps it is unsurprising that the would-be owners did this.
Nevertheless, Caulkin believes that the ODT would not have to be done again if the bid was to be resurrected, but this is just speculation at this point in time.
Geordies, do you think the takeover can be resurrected? Comment below!
