A source close to the proposed takeover of Newcastle United has given a rather positive update on the prospective £300m deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group.
According to The Independent, the source said that “we don’t see a legitimate reason to stop the sale”, which should encourage members of the Toon Army.
Will the Premier League approve the takeover of Newcastle?
The source also played down any worries that the lack of urgency from the Premier League, as well as some of the negative publicity surrounding the bid, would make the Saudis think twice, claiming that “the decision making-process (leading to the involvement in the sale) was very deliberate. They (PIF) do not make knee-jerk decisions.”
Indeed, the buying side consists of the Saudi Arabian Public Investment Fund (PIF) as well as the KSA crown prince Mohammed bin Salman (MbS), the businesswoman and head of PCP Capital Partners Amanda Staveley, in addition to the billionaire Reuben brothers, who are originally from India but are now based in London.
As the whole saga has been dragging on for a number of months now, coincided with the fast-approaching end to the 2019/20 season, there have been fears that the takeover would not be given the green light by the Premier League as it would be in danger of fizzling out.
However, given that England’s highest division could essentially put this season to bed once the league finishes, perhaps they could then concentrate on making their final decision on the deal.
Nevertheless, everything is all speculation up until this point in time until they make this decision followed by an official announcement, but for now Newcastle fans will be left hoping for the best until the situation becomes clearer.
Geordies, are you more confident after hearing this update? Comment below with your views!
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