The proposed takeover of Newcastle United has potentially been dealt a big blow as the Tyneside club are reportedly planning for the next season under Mike Ashley, according to the Daily Mirror.
As per the outlet, the prospective £300m deal between the chief executive of Sports Direct and the Kingdom of Saudi Arabian (KSA) group has indefinitely stalled, and as such the Magpies are preparing to enter the 2020/21 campaign with Ashley still as the current owner and also with Steve Bruce as manager.
Should Newcastle fans be grateful for the money that Ashley has put into the club?
Indeed, there remains uncertainty as to whether the Premier League will approve of the bid given how long the whole saga has lasted, and it could drag on even longer that the Toon are apparently preparing for the new season under Ashley and not their prospective new owners.
The buying side consisting of the KSA crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire Reuben brothers, are also still yet to hear the results of the Owners’ and Directors’ Test (ODT) set out by the Premier League.
Whether the entire consortium will be deemed fit and proper owners is another question that has not yet been answered by England’s highest division, and the longer that the situation goes on without a definitive conclusion, the more probable it looks that the takeover simply will not go through.
Nevertheless, everything is still speculation up until this moment in time, as eager Newcastle fans await the final decision and an official announcement by the Premier League.
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