Mike Ashley is expecting to still be in control of Newcastle United for the 2020/21 season after the collapse of the proposed takeover at St James’ Park, according to The Northern Echo.
As per the outlet, the chief executive of Sports Direct has told managing director Lee Charnley to complete preparations for the next campaign as he expects that the prospective £300m deal between himself and the Kingdom of Saudi Arabian (KSA) group will not be approved by the Premier League before the new term starts in a month’s time.
Indeed, the Saudi-led consortium decided to officially withdraw their own bid as they grew increasingly frustrated with just how long it was taking the Premier League and its CEO Richard Masters to come up with their final decision.
With the new season fast approaching, coupled with the opening of the summer transfer window, perhaps it is unsurprising that the buying side made this decision.
However, as per The Northern Echo, Ashley remains in talks with the would-be owners in the hope of resurrecting his sale of the Tyneside club, with him and his associate Justin Barnes understood to have had a number of conversations over the phone with the buyers, led by businesswoman and head of PCP Capital Partners Amanda Staveley.
Is the KSA takeover of Newcastle over?
Whether the Premier League are feeling the pressure of getting the takeover back on is another question, but Ashley is certainly hoping that a deal can be sanctioned sooner rather than later. Otherwise, it looks like he will indeed be in control of the Magpies going into the new season.
Geordies, do the Premier League need to give more clarity on the takeover? Comment below with your views!
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