Luke Edwards has dropped a very intriguing update on the proposed £300m takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) group.
As per a thread of tweets from the Daily Telegraph journalist, he has been told that none of the recent developments with regards to the softening of ties between the Kingdom and Qatar will have any sort of bearing whatsoever on the prospective deal between Mike Ashley and the KSA consortium in the short or medium term.
Are the Premier League to blame for the Newcastle takeover collapse?
However, he did add that the legal cases that have been put forward against the Premier League remain active but have not progressed in a meaningful manner, and beIN still remains banned to the Saudi residents.
Edwards also claimed that if the two countries want a more mutually beneficial relationship, then ‘that is good news‘, and while there is no sign of an immediate change in the fortunes of the takeover bid, it is a step in the right direction and could have a more positive impact in the longer term.
Is there still hope for the Newcastle takeover?
Judging by the update from Edwards, there is still a chance that the takeover at St. James’ Park can still happen, albeit it would be unlikely in the short to medium term.
Nonetheless, the newly-formed ties between the Gulf neighbours can only be a positive thing going forward in terms of its progression.
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