Liam Kennedy has given an update on the proposed takeover of Newcastle United after replying to a fan on his official Twitter page.
As per journalist’s tweet, he claims that information on the prospective £300m deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group has been mostly positive, but admits that it has been less so in recent times.
“The deal has hit the blocks I’m told,” Kennedy revealed in his post, although he also claimed that the takeover is not “dead” yet.
I'm not a takeover 'happy clapper' as some people would call it.
Info has been positive mostly, but last seven days has taken a turn and last 12 hours even more so.
The deal has hit the blocks I'm told. Doesn't mean it is dead. Don't shoot the messenger.
— Liam Kennedy (@LiamJKennedy23) July 27, 2020
Kennedy also revealed in his latest piece for The Shields Gazette that some bookmakers are offering odds-on for the Tyneside club to be taken over before the end of 2021, although some short odds remain on the ownership of Ashley continuing into the New Year.
Nevertheless, members of the Toon Army will surely want the Premier League to approve of the bid before then given that the 2019/20 season has now ended for them and they are going into the summer transfer window uncertain of where the club stands.
Will the Premier League approve the takeover of Newcastle?
Indeed, it is unclear as to exactly how much money will be available to spend as the takeover could bolster transfer funding significantly.
The buying side, which consists of the Middle Eastern crown prince Mohammed bin Salman (MbS), the Saudi Arabian Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire Reuben brothers, are all relatively wealthy in their own right and therefore may wish to splash the cash on some potential new additions if possible.
However, until the takeover is approved by the Premier League, Newcastle supporters will have to just wait and see how much the club will have available to spend on transfers.
Geordies, what is your gut feeling on the takeover? Comment below with your thoughts!
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