The involved parties in the proposed takeover of Newcastle United are quietly confident that the £300 million deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group can be resurrected, according to The Independent.
As per the outlet, there is quiet confidence that some sort of compromise can be made, and the appetite from the buying side to buy the Magpies still remains.
Is the Saudi takeover of Newcastle saga over?
The parties involved are continuing to work behind the scenes to find a formula that will allow the bid to proceed as it has stalled following the decision from the KSA Public Investment Fund (PIF) to withdraw from the process.
Indeed, PIF as well as the Middle Eastern crown prince Mohammed bin Salman (MbS) were due to hold a majority 80 per cent stake in the Tyneside club, with the businesswoman and head of PCP Capital Partners Amanda Staveley holding a 10 per cent share and the billionaire Reuben brothers, who are originally from India but are now based in London, due to take the remaining 10 per cent.
However, the whole process has stalled given that the Saudi-led consortium grew more and more frustrated with just how much time it was taking for the Premier League and its chief executive Richard Masters to come up with their final decision as to whether to approve of the takeover or not.
Given that the new 2020/21 season is just around the corner from now, coupled up with the fact that the summer transfer window has officially opened, perhaps this was an understandable stance to take from the would-be owners.
Nevertheless, it looks as if there is still confidence, albeit quiet confidence, that the takeover can still be resurrected, which should surely delight several members of the Toon Army.
Geordies, can you see the takeover being resurrected? Comment below!
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