Luke Edwards has made a rather worrying claim about the proposed takeover of Newcastle United as he reacted to a recent report from the BBC.
As per the outlet, the prospective £300 million deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group has been delayed because there is apparently a lack of clarity over who exactly would be in charge of the Tyneside club if the bid is approved by the Premier League.
Will the takeover of Newcastle fall through?
Yes
No
Indeed, the businesswoman and head of PCP Capital Partners Amanda Staveley is leading the buying side, but is only set to gain a 10% stake in the North East.
On the other hand, the Middle Eastern crown prince Mohammed bin Salman (MbS) and the Saudi Arabian Public Investment Fund (PIF) are due to hold an 80% majority share, with the billionaire Reuben brothers set to gain the other 10%.
Nevertheless, Edwards has looked at the bigger picture and looked at the links to the piracy issues for the Saudis.
The Daily Telegraph journalist claimed in a tweet that it is not simply who is in charge but more if the Saudi Arabian government are ultimately in charge, in other words MbS, because of piracy, to which he claims is a ‘big problem’.
Edwards also revealed that the defence to this is that PIF are independent of the government, but the fact that MbS and PIF are said to hold a stake in the Magpies may cause some confusion.
Which links back to piracy. They have a problem because of that. It’s not simply we don’t know who is in charge, it’s if Saudi govt are in ultimate charge, in other words the Crown Prince, we have a big problem because of piracy. The defence is PIF are independent of govt https://t.co/IV7fKPrhPW
— Luke Edwards (@LukeEdwardsTele) July 27, 2020
However, everything is all speculation up until this point in time until the top flight make a final decision, but this may not help the cause and thus worry some members of the Toon Army.
Geordies, are you worries that the takeover will fall through? Comment below!
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