There is still hope that the proposed takeover of Newcastle United by the Kingdom of Saudi Arabian (KSA) group can be resurrected, according to The Shields Gazette.
As per the outlet, the lines of communication remain open and live from businesswoman Amanda Staveley’s PCP Capital Partners through the chief executive of Sports Direct Mike Ashley and the Premier League.
Is the KSA takeover of Newcastle over?
Indeed, the Saudi-led consortium, which also consists of the Middle Eastern crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund and the billionaire London-based Reuben brothers, decided to withdraw their own £300 million bid as a result of growing increasingly tired and frustrated with just how long it was taking the top flight and its CEO Richard Masters to come up with their final decision as to whether to approve of the deal or not.
Nevertheless, the communication between each of the involved parties has not stopped as work continues to be done in the background to try and get the prospective takeover over the line.
This is in spite of a new consortium that have emerged as contenders to buy the Tyneside club. The Bellagraph Nova (BN) Group, which is co-founded by businesswoman Evangeline Shen and Singaporeans Nelson and Terence Loh, and brought to the table by former Magpies striker Michael Chopra, have officially lodged their own £280 million bid to try and take control at St. James’ Park.
However, this sum is less than the £300 million offered by the Saudis, and so perhaps the latter are still in pole position to take over in the North East should they come to an agreement with England’s highest division.
Geordies, do you still have hope for the Saudi takeover? Comment below!
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