The would-be owners of Newcastle United reportedly remain confident that the proposed takeover in the northeast will eventually be approved by the Premier League, according to The Independent.
Will the Newcastle takeover go through?
As per the report, members of the Toon faithful are still twitching their thumbs as to if and when the prospective deal between Amanda Staveley’s Saudi Arabia-led consortium and current owner Mike Ashley will go through, as the buying side have warned fans not to expect too much in terms of the spending side of things for when the summer transfer window opens.
Staveley, Mohammed bin Salman and the London-based billionaire Reuben brothers are still awaiting the eagerly-anticipated result of the Premier League’s owners and directors’ checks. They are reportedly confident that the the league will not veto the takeover and believe that the constant delays are mainly down to timing rather than questions about Saudi Arabia’s Public Investment Fund (PIF).
The Premier League have had to turn their attention away from the takeover due to Project Restart and the coronavirus pandemic. However, they expect to formally take the reins from Ashley within the next few weeks.
PIF will reportedly own 80% of the club, which has perhaps been controversial due to Saudi Arabia’s human rights record. However, a person close to the group has recently downplayed the notion that St James’ Park could soon be awash with funding from oil money.
Nevertheless, the fact that they remain confident should be a source of satisfaction to the Tyneside faithful.
Geordies, are you confident that the takeover will go through soon? Comment below with your views!
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