The Kingdom of Saudi Arabian (KSA) takeover of Newcastle United has been put into huge doubt as the Daily Telegraph have reported that the £300 million deal between Mike Ashley and the KSA group has reached deadlock.
As per the outlet, this is reportedly due to concerns over the new ownership structure and who would have the final say in making decisions at the Tyneside club.
Will the takeover of Newcastle fall through?
The process has entered into its 17th week, and as the Saudis have lost their period of exclusivity, Mike Ashley has in turn entered into separate talks with American businessman Henry Mauriss and is free to sell to him instead if he wanted to, putting the previous bid agreed with the Saudi consortium into further doubt.
The buying side, which consists of the KSA crown prince Mohammed bin Salman (MbS), his country’s Public Investment Fund (PIF), the businesswoman and head of PCP Capital Partners Amanda Staveley in addition to the billionaire Reuben brothers, are also still yet to hear of the results of the Owners’ and Directors’ Test (ODT) set out by the Premier League.
Indeed, this could be pivotal in the final decision of the top flight, but members of the Toon Army are still sweating on its results.
The added delays, coupled up with the fact that the prospective takeover is in deadlock and that Ashley has been talking to Mauriss do not point to positive signs that it will eventually be approved by England’s highest division.
Nevertheless, everything is all speculation up until this point in time until the league makes its final decision followed by an official announcement.
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