Tariq Panja has made a rather worrying claim on the proposed takeover of Newcastle United as he says that it ‘should alarm the club’s fans’ that the prospective £300 million deal between Mike Ashley and the Kingdom of Saudi Arabian (KSA) group is being held up because of a lack of clarity.
Indeed, he is referring to a recent report from the BBC that stated that it is unclear as to who exactly would be in charge of the Tyneside club should the bid be approved by the Premier League.
Will the takeover of Newcastle be approved?
The businesswoman and head of PCP Capital Partners Amanda Staveley has been leading the buying side, but is only due to hold a 10% share in the North East.
On the other hand, the Middle Eastern crown prince Mohammed bin Salman (MbS) and the Saudi Arabian Public Investment Fund (PIF) are due to become the major shareholder with 80%, with the billionaire Reuben brothers claiming the other 10% stake.
Indeed, Panja has expressed his concern in a tweet as he says that this piece of news should alarm the NUFC supporters, adding that the while saga has gone on for four months now yet there seems to be a lack of progress.
This idea that the Newcastle deal is being held up because of a lack of clarity over who will own should alarm the club's fans whatever happens. These guys have had 4 months to get the story straight, and yet confusion reigns.
— tariq panja (@tariqpanja) July 28, 2020
Given that the 2019/20 season has now finished and that the new term begins in just a few weeks, perhaps it is worrying that the takeover has still not been approved, as it seems less and less likely by the day.
A final decision surely needs to be made by the top flight sooner rather than later so that the Magpies can plan properly for the next campaign.
Geordies, are you worried that the takeover will collapse? Comment below!
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