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Newcastle United: Lee Ryder reveals takeover latest

Newcastle United: Lee Ryder reveals takeover latest - Newcastle United News

Mike Ashley wants Newcastle’s takeover completed in time for pre-season, according to Chronicle Live reporter Lee Ryder.

Ashley is said to be determined to move on from St James’ Park and is confident that the upcoming arbitration process will clear the way for the completion of the deal. The Walsall-born billionaire has ‘told those close to him that the PIF deal is the only takeover in Toon’ in his eyes, meaning he will not countenance any other approaches.

This comes after James Pallotta seemed to express an interest in buying the club earlier this month (via The Athletic). The American billionaire is keen on taking over a Premier League outfit and named Newcastle as one of the ‘interesting teams’ who have a ‘great history’.

What happened with Newcastle’s takeover?

Last June, the Saudi-backed consortium signalled that they had ended their £300m bid to buy the club.

The Premier League had provisionally decided that PIF was ‘controlled’ by the Saudi government, and there were concerns about the regime’s human rights record and alleged TV piracy.

Newcastle have initiated legal action against the Premier League in a bid to resurrect the deal.

Transfer Tavern verdict

Ashley’s single-mindedness could certainly be seen as positive for those Newcastle fans crying out for a change of ownership, as he has clearly decided that he wants to leave the club behind.

However, it’s also slightly concerning, for if he won’t entertain other bids and the arbitration doesn’t pan out the way he’s expecting, are Newcastle all the way back to square one?

In other news, Danny Mills made this claim about the takeover and what it means for Steve Bruce.

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Article title: Newcastle United: Lee Ryder reveals takeover latest

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