The Kingdom of Saudi Arabian (KSA) Public Investment Fund (PIF) are reportedly unlikely to return to the negotiating table over the proposed takeover of Newcastle United, according to the Daily Telegraph.
As per the outlet, PIF will only return to the table in the unlikely event that the Premier League gives written assurances that the £300 million deal with Mike Ashley will go through.
Are the Premier League to blame for the Newcastle takeover collapse?
In added news, the chief executive of Sports Direct could pursue a damages claim against the top flight and Richard Masters, given that he said that he had reassurances from England’s highest division and its CEO back in April that there were “no red flags” with regards to the prospective bid.
Indeed, the Saudi-led consortium, which consists of the KSA PIF, Middle Eastern crown prince Mohammed bin Salman (MbS), the businesswoman and head of PCP Capital Partners Amanda Staveley and the billionaire London-based Reuben brothers, decided to cut the wire on their own bid as a result of growing increasingly frustrated with just how long it was taking for the EPL to make their final decision.
With the new 2020/21 season only around the corner coupled up with the fact that the summer transfer window has officially opened, perhaps this decision by the would-be owners is rather unsurprising.
Nevertheless, it looks like PIF will not get back involved in any potential deal unless they receive further assurances from the Premier League, which may be a blow to the hopes of several members of the Toon Army to get the takeover back on.
Geordies, can you see the takeover being resurrected? Comment below!
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