Liam Kennedy has dropped an inside claim on the potential takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.
Writing in his latest piece for The Shields Gazette, the football journalist has claimed that the KSA’s Public Investment Fund (PIF) have given their word to the consortium that they will return to the process of taking over at the St. James’ Park faithful once a path to the deal with Mike Ashley is cleared.
Are the Premier League to blame for the Newcastle takeover collapse?
PIF are currently not at the table as they felt as if the process was taking far too long, as the Premier League eventually decided to fail the bid.
Kennedy has also claimed that there is understood to be other confidential financial guarantees between all of the parties involved in the deal.
However, as he points out, reports have been emerging from Italy that PIF may turn their attentions elsewhere if a pathway is not cleared sooner rather than later, with Inter Milan said to be a club that is up for sale and one that they would be interested in.
Newcastle takeover hopes lie on PIF
PIF would need to come back onto the table to keep any hopes of reviving the original deal with Ashley alive.
However, with the news emerging of their interest in Inter, the Tyneside club will be hoping that the takeover process can be sped up as soon as possible. If the Magpies get relegated, it’s hard to imagine the rich investors choosing Tyneside over Milan.
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