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Newcastle United: NCSL back up takeover reveal involving PIF & Premier League ODT

Newcastle United: NCSL back up takeover reveal involving PIF & Premier League ODT -Newcastle United News

The Newcastle Consortium Supporters Ltd (NCSL) have backed up a reveal by The Shields Gazette to do with the proposed £300m takeover of Newcastle United by the Kingdom of Saudi Arabia (KSA) consortium.

As per the news outlet, the St. James’ Park faithful believe that they have handed over legal proof which shows that the KSA’s Public Investment Fund (PIF) is separate from the Saudi state and have thus satisfied the requirements of the Premier League’s Owners’ and Directors’ Test (ODT).

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PIF briefs have also reportedly told England’s highest division that they could prove the separation in the summer by sending over documentary evidence that is written in Saudi law, however, those requests have not been followed up as of yet.

In response to a discussion after the reveal by the Gazette, the NCSL tweeted that ‘it’s done’ in terms of the ODT showing proof that evidence has already been submitted to legally show that PIF is a separate entity from the Saudi state, but explained that this information has not yet been shown in the public domain.

Could the Newcastle takeover be back on?

If the legal proof shows that PIF are separate from the Saudi state, therefore, allowing them to pass a key aspect of the top flight’s ODT, then the prospective deal between Mike Ashley and the KSA group may well be back on track.

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However, an arbitration hearing may well be needed to settle the legal battle once and for all, but this report, if true, is certainly a step in the right direction.

In other news, find out what Ashley is doing to push the takeover through here!


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Article title: Newcastle United: NCSL back up takeover reveal involving PIF & Premier League ODT

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