Lee Ryder has shared some insight from sources close to Mike Ashley regarding the potential takeover of Newcastle United.
The Lowdown: Ashley takes his stand
According to the The Shields Gazette, Ashley and the club are looking to take the Premier League to court for what they believe to be anti-competitive behaviour in their decision-making process on the proposed takeover by the Kingdom of Saudi Arabia (KSA) group.
Is the KSA takeover of Newcastle over?
The St. James’ Park faithful have also taken on an anti-competition case given to them by Newcastle Consortium Supporters Limited (NCSL), with the top flight given fresh legal papers and Ashley looking to force them to put through the bid.
The Latest: Ashley determined to get takeover done
As shared by Ryder in his latest piece for The Chronicle, the chief executive of Sports Direct is understood to be “hellbent” on getting the proposed takeover approved, and sources close to him have indicated that his anti-competition legal battle is a signal of intent as he seeks justice from the PL over the failed bid from the KSA consortium.
Ashley wants damages, costs and interest from the division, as well as the whole takeover process restarted and ultimately that it is finally approved.
The Verdict: Arbitration a key indicator in takeover saga
While Ashley is now pursuing another big legal battle against the Premier League, the pending arbitration case between the two parties will be a key indicator over where the potential takeover heads.
A positive result for the Toon and the North East club could pave a pathway for a potential revival, but a negative one may be very difficult to come back from, especially with Ashley now seemingly starting a war on multiple fronts.
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