Liam Kennedy has dropped a claim on a potential takeover of Newcastle United involving the Kingdom of Saudi Arabia’s (KSA) Public Investment Fund (PIF).
Replying to a question from a fan of the St. James’ Park faithful on Twitter, The Shields Gazette journalist has claimed that ‘from conversations I’ve had’ he thinks that it is ‘highly unlikely’ that PIF will buy a majority stake in the Tyneside club if they were to be relegated from the Premier League to the EFL Championship at the end of the 2020/21 term.
Newcastle relegation may hinder takeover
As per Kennedy, if the North East club were to get relegated from the top flight this season, it could scupper their chances of a deal between Mike Ashley and the KSA group being pushed through.
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Any potential revival of the original bid would mean that PIF would have to come back onto the table, but the Magpies being in the second tier of English football may not pose an attractive enough project for them.
Steve Bruce’s men are currently a mere six points off of the drop zone on 25 points with 14 games still being left to play (BBC Sport), with Fulham in 18th spot having a real chance of catching them before the campaign ends.
Many members of the Toon Army will be left biting off their fingernails from now until the end of the season with the hope that they will stay up and with the added chance of the takeover being resurrected.
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