Ben Jacobs has revealed some insight from the Kingdom of Saudi Arabia (KSA) consortium in terms of their proposed £300m takeover of Newcastle United.
As per a tweet from the sports journalist, the group, which consists of the Saudi Crown Prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire Reuben brothers, continue to wait on news of the Tyneside club’s case before assessing their options.
Is the KSA takeover of Newcastle over?
He also added that ‘it is true’ that a private equity model has been explored by the consortium, which, in some respects, acknowledges the concerns of the Premier League, but Jacobs claims that it seems like more of a ‘plan B’.
Can the Newcastle takeover still happen?
If the group are looking at alternative options with regards to getting their deal with Mike Ashley back on track, then it seems as if it is still possible that the takeover of the St. James’ Park faithful can still happen.
However, the Magpies are likely to have to face an arbitration hearing against the top flight first so that their legal disputes with England’s highest division can be settled in front of a judge.
Nonetheless, it is perhaps a good sign that the consortium are exploring their options with the hope of reviving their takeover bid.
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