A source close to the Kingdom of Saudi Arabian (KSA) Public Investment Fund (PIF) has made a big claim on the proposed takeover of Newcastle United.
As per the Notebook (via The Chronicle), the source said ‘you never know what could happen’ with regards to the £300 million deal with Mike Ashley, as they seemed to play down talk of reviving the bid without actually ruling it out entirely.
Is the Saudi takeover of Newcastle saga over?
However, for now the PIF are looking at other potential sports investments until any sort of deal can be revived after pulling the plug on their own bid as they grew more and more frustrated with just how long it was taking the Premier League to make their final decision.
Indeed, the top flight and its chief executive Richard Masters were still contemplating as to whether to approve of the prospective takeover or not, but the whole saga had been going on for four months.
With the start of the new 2020/21 season fast approaching on top of the official opening of the summer transfer window, there was deemed too much uncertainty at St. James’ Park to continue on with the process, and thus the buying side decided to cut the wire on their own deal.
However, the PIF source does not seem to have ruled out the possibility of the bid being potentially resurrected, which would surely please and encourage some members of the Toon Army.
Nevertheless, all is just speculation at this point in time, as for now the takeover does not look like it will happen, but perhaps it is not quite dead in the water just yet.
Geordies, do you still have hope for the takeover? Comment below!
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