A journalist has outlined in a piece for the Northern Echo as to why the proposed takeover of Newcastle United is in real danger of collapsing.
As per the writer, if the Kingdom of Saudi Arabian (KSA) group are unable to adequately answer the questions that are being asked of them by the Premier League, then there is a real chance that the £300 million deal between Mike Ashley and the consortium will collapse.
One of these questions regards who exactly will be in charge of the Tyneside club if the prospective bid is approved by the top flight.
Indeed, the businesswoman and head of PCP Capital Partners Amanda Staveley has been leading the buying side, but is only set to hold a 10% stake at St. James’ Park.
Meanwhile, the Middle Eastern crown prince Mohammed bin Salman (MbS) and the Saudi Arabian Public Investment Fund (PIF) are set to become the major shareholders at 80%, with the billionaire Reuben brothers set to hold the other 10% share.
There is also a question mark over the separation of the Saudi government from PIF, as while they are both separate bodies in theory, the PIF’s chairman is MbS.
This arguably needs to be established by the English top flight as they rule whether MbS is a fit and proper person based off of their Owners’ and Directors’ Test (ODT), given previous his links with human rights abuses.
Will Newcastle takeover leader MbS pass the ODT set out by the Premier League?
Nevertheless, the crown prince is innocent until proven guilty, but the would-be owners may need to be clearer to England’s highest division if they are to receive their ultimate approval.
Geordies, are the league right to ask for more clarity? Comment below!
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