Lee Ryder has dropped some promising insight from the Kingdom of Saudi Arabia (KSA) consortium on the potential takeover of Newcastle United.
The Lowdown: Arbitration adjourned
As per the official website of the St. James’ Park faithful, the arbitration hearing between them and the Premier League has now been adjourned until early 2022 due to issues with the disclosure of evidence.
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The case was expected to take place this month, but now further delays have been implemented.
The Latest: Consortium insight
Writing in his latest piece for The Chronicle, Ryder, a North East journalist who has been following the whole takeover saga closely, has shared that Mike Ashley is ‘confident’ that the consortium will stay around long enough to see the results of the legal battle with the top flight.
He also shared that the consortium remain ‘undeterred’ by the news of the arbitration delay, and added that there is ‘no immediate rush’ to walk away.
The Verdict: Promising
It is certainly promising to hear that the consortium remain fully committed to the deal, despite yet another setback with the arbitration delay.
The fact that the proceedings are not set to take place until next year now is not ideal at all, given that the Tyneside club will have to go into yet another season with uncertainty, and the inability to really flex their financial muscles in the transfer market.
Nonetheless, with patience could come great reward, and the Magpies seemingly still have confidence that they can win arbitration and thus speed up the whole takeover process.
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