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Newcastle United: Takeover news from Luke Edwards could be a major boost as Henry Mauriss prepares offer
Newcastle United could have been given a major boost in terms of the prospective takeover in the northeast as Luke Edwards has reported that American entrepreneur Henry Mauriss is preparing to make a formal offer to buy the Tyneside club if the proposed purchase by a Saudi Arabian-led consortium is not completed, according to his article for The Telegraph.
As per the report, the Magpies believe that Mauriss is ready to move quickly and decisively to take them away from Mike Ashley, with the Premier League still deciding whether to approve the Saudi takeover led by businesswoman Amanda Staveley.
Will the Premier League approve the takeover of Newcastle?
Yes
No
As things stand, the current takeover attempt by Staveley’s group would have to collapse before anything progresses with another bid, as contracts have been signed and a deal legally agreed with Ashley.
Staveley had a £300m bid verbally accepted by the Sports Direct CEO at the start of April, with all the required signatures in place, including that of Staveley’s PCP Capital Partners, the billionaire Reuben brothers and Saudi Arabia’s Public Investment Fund (PIF), led by the country’s crown prince Mohammed bin Salman.
Indeed, if the proposed deal between the buying side and Ashley ultimately collapses, then at least the Toon may have a backup in Mauriss should the 55-year old still want to sell up.
It may not be the new owner that the Newcastle fans expected or perhaps wanted, but at least there is some reassurance now for some fans if the PIF bid ends up collapsing.
