Mark Douglas has dropped a quite encouraging update on the potential £300m takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.
Writing in his latest piece for The Chronicle, the football journalist has allayed fears that the KSA’s Public Investment Fund (PIF) may not return after the original deal was scuppered, confirming they ‘remain committed’ to the deal between Mike Ashley and the KSA consortium.
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The governor of PIF, Yasir Al-Rumayyan, who would have been on the board of the St. James’ Park faithful if the bid had been pushed through, has also said that professional sport remains a ‘priority’ for them – another promising sign.
Finally, Douglas’ report claims there have been ‘assurances’ that the group will not look elsewhere to other clubs after the failure of their first takeover attempt.
Takeover update should encourage Newcastle fans
Given that PIF have not technically returned to the table to reignite talks to get the takeover deal back on track, this update should at least encourage some fans in the North East.
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It does seem as if they would still be interested in the bid providing that it still remains a possibility, and with a pending arbitration case between the Magpies and the Premier League still to be arranged, there is still a chance that the takeover of the Toon can be revived if that goes to plan.
In other news, find out what takeover claim has been dropped by a government secretary here!
