Bryan Swanson has reacted to a statement made by Newcastle United on the proposed takeover by the Kingdom of Saudi Arabian (KSA) group.
As per his official Twitter page, the Sky Sports journalist tweeted: “Key question now is whether the consortium and/or Mike Ashley take this to the Court of Arbitration for Sport or the High Court in London. Huge statement tonight. Unprecedented.”
Key question now is whether the consortium and/or Mike Ashley take this to the Court of Arbitration for Sport or the High Court in London. Huge statement tonight. Unprecedented. #SSN #NUFC https://t.co/UVhab1Zioi
— Bryan Swanson (@skysports_bryan) September 9, 2020
Indeed, the official statement from the Tyneside club confirmed that the Premier League and its chief executive Richard Masters had rejected the £300m takeover bid made by the Saudi-led consortium, which consisted of the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), businesswoman/head of PCP Capital Partners Amanda Staveley and billionaire Reuben brothers, who are originally from India but are now based in London.
Is the Saudi takeover of Newcastle saga over?
The decision was made based on the Premier League’s Owners’ and Directors’ Test (ODT), and the Magpies claim that the conclusion had been reached despite the club providing overwhelming evidence and legal opinions that PIF is independent and autonomous of the KSA government.
The club and its owners did not accept that the EPL and Masters had acted appropriately in relation to the matter and will apparently be considering all relevant options available to them.
Indeed, as Swanson suggests, Newcastle or Mike Ashley himself could take this to the Court of Arbitration for Sport or the High Court in London, meaning that the whole takeover saga may be far from over just yet.
Nonetheless, it seems as if the disputes will just continue to grow until one of the parties involved in the deal draws a firm line under it.
Geordies, do you think the takeover saga will go to court? Comment below with your views!
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