Amanda Staveley has uttered her first words after the proposed takeover of Newcastle United was called off by the Kingdom of Saudi Arabian (KSA) group.
Indeed, the businesswoman and head of PCP Capital Partners was due to hold a 10% share in the Tyneside club if the prospective £300 million deal with Mike Ashley was to be approved by the Premier League.
Are the Premier League to blame for the Newcastle takeover collapse?
Instead, due to a lack of clarity from the top flight as well as its chief executive Richard Masters on a timescale of when they would make their final decision, the consortium have thus decided to withdraw their bid themselves.
Perhaps this makes sense given that the 2019/20 season has already finished and that the 2020/21 campaign is due to start in only a few weeks, coupled up with the official opening of the summer transfer window.
Steve Bruce may have anticipated having more money to spend if the takeover had been given the green light, but at least for now he can plan potential signings within the budget that he has been given.
Nevertheless, Staveley (via Jim White) has uttered her rather heartbreaking first words after the collapse:
”I’m absolutely heartbroken for the club, the fans and the community.”
Saudi Arabia’s Public Investment Fund has withdrawn from its £300m cash takeover of @NUFC.
PCP Capital Partners’ Amanda Staveley, who fronted the deal, says :”I’m absolutely heartbroken for the club, the fans and the community.”
— Jim White (@JimWhite) July 30, 2020
It is heartbreaking indeed that there was so much hope, but now it has been taken away.
Nevertheless, as hard as it may be, everyone associated with the Toon Army arguably need to move on so that they can be fully prepared for when the new term starts.
The Magpies will surely be hoping that they can first recruit well in the market and improve on the last season.
Geordies, how are you coping with the news? Comment below!
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