Luke Edwards has shared a revelation on the proposed takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) consortium.
The Daily Telegraph journalist tweeted:
Lots of detail here explaining where things are and what still needs to happen. My understanding is PL keep returning to issue of whether PIF is separate from the Saudi state, which they offered independent arbitration to solve. This prob needs to be settled for progress to occur https://t.co/JPiKQBTQVy
— Luke Edwards (@LukeEdwardsTele) November 20, 2020
Indeed, Edwards was reacting to an article from the Daily Telegraph that stated that the KSA group intend to re-submit their £305m bid to take the North East club from Mike Ashley if the St. James’ Park faithful are successful in winning an arbitration case against the Premier League and its CEO, Richard Masters.
Are the Premier League to blame for the Newcastle takeover collapse?
What is the Premier League’s problem with the Newcastle takeover?
As per Edwards, the problem that the English top flight seemingly still have with the prospective takeover of the Tyneside club is that they have an issue as to whether the KSA’s Public Investment Fund (PIF) is separate from the Saudi state, something which they offered independent arbitration to find out.
The journalist also went on to claim that this dispute needs to be settled for any sort of progress on the deal to occur.
Indeed, this legal battle between the two parties involved may result in a court case in order to settle it once and for all, and if it does, then the Toon Army will be hoping that the Magpies come out on top and as such, the takeover can be completed.
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