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Newcastle United: Luke Edwards gives exciting takeover update involving KSA

Newcastle United: Luke Edwards gives exciting takeover update involving KSA - Newcastle United News

Luke Edwards has given a very exciting update on the proposed £300m takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) consortium.

The Daily Telegraph journalist tweeted that he is ‘hearing strange rumours’ that the KSA are back in for the St. James’ Park faithful, but not through their country’s Public Investment Fund (PIF).

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He also went on to say that it could be from a private individual rather than the purchase being backed by the state, while concluding that the rumour has now been around for a while.

PIF takeover dispute

There has been an ongoing dispute as to whether PIF are considered a separate entity from the Saudi state.

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The Tyneside club believe that they have handed over legal proof that that this is the case and have therefore satisfied the requirements of the Owners’ and Directors’ Test (ODT) set out by the Premier League.

PIF briefs had also told England’s highest division that they could prove of the separation in the summer by sending documentary evidence that was written in Saudi law, but those requests are understood to have not come into any sort of fruition.

However, if the rumours are true that the KSA are coming back in for a deal that does not involve PIF, then it may well give them a better chance of taking over in the North East.

In other news, find out what has been revealed by Ashley amid the takeover speculation here!


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Article title: Newcastle United: Luke Edwards gives exciting takeover update involving KSA

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