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Newcastle United: Kieran Maguire drops PIF claim on potential takeover

Newcastle United: Kieran Maguire drops PIF claim on potential takeover - Newcastle United News

Football finance guru Kieran Maguire has dropped a claim on the potential takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.

Reports from Italy earlier this week have claimed that the KSA’s Public Investment Fund (PIF), who are headed by Mohammed bin Salman (MBS) and are part of the consortium looking to take over from Mike Ashley at St James’ Park, are also interested in taking over at Inter Milan, should there be no pathway back for the proposed buyout of the Tyneside club.

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PIF are currently off the table given how long the process was taking, but they have not ruled out coming back on if a clear path is made available.

However, Maguire has claimed to Football Insider that the prospective deal with the Magpies would be over if a deal between PIF and Inter were to go through, saying:

“The deal certainly would be over as far as that particular investor is concerned.

“There is always talk of other people being interested in Newcastle. Inter are up for sale at present, that’s the worst kept secret.

“But if PIF do take over Inter, they’re playing in Europe and under UEFA rules you wouldn’t be able to control two clubs who could potentially be playing each other in the Champions League or Europa League.

“So if you buy Inter, what’s the point in buying Newcastle? The whole point of buying Newcastle is because the intention would be to get them into the Champions League. And if an Inter deal goes through, you’d then be left with a sticky wicket.”

Potential Newcastle takeover still on?

The whole takeover saga at Newcastle is a complicated one to say the least at the moment. There is still hope that a deal can be struck, but PIF would have to come back onto the table to have any chance.

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There is also a pending arbitration case between Newcastle and the Premier League over the failings of the original bid, and the pathway to a potential takeover may become a lot clearer after that is finished.

In other news, find out what inside claim Ben Jacobs has dropped on the potential takeover!

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Article title: Newcastle United: Kieran Maguire drops PIF claim on potential takeover

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