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Newcastle United: Liam Kennedy drops PIF claim on potential takeover

Newcastle United: Liam Kennedy drops PIF claim on potential takeover - Newcastle United News

Liam Kennedy has dropped a reassuring 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, when asked whether the Public Investment Fund’s (PIF) interest in taking over at Inter Milan was genuine and what it would potentially mean for the original deal with the St. James’ Park faithful, the football journalist claimed that he has “not heard any information to suggest they do not retain an interest” in the North East club.

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Kennedy also stated that “they have given guarantees to PCP Capital Partners”, the company in which Amanda Staveley, who is part of the KSA consortium, is currently head of.

He added that the evidence seems to suggest that PIF “aren’t going anywhere” for now, although he also claims that they “won’t wait forever” as they are still waiting for a path to be cleared in order to get themselves back onto the table.

PIF claim reassuring

Although there is an interest being held by PIF in buying Inter, it is reassuring to hear that they still hold an interest in buying the Tyneside club as well, providing that a pathway for them is cleared.

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The pending arbitration case between the Magpies and the Premier League should give a much clearer picture in terms of where exactly the direction of the potential takeover is heading, and if the Toon were to win that legal battle, then it could well turn out to be a big step in clearing that path.

In other news, find out what light has been shed by Ben Jacobs on PIF and the potential takeover here!


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Article title: Newcastle United: Liam Kennedy drops PIF claim on potential takeover

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