Kieran Maguire has made a definitive claim on where the potential takeover of Newcastle United is at at this moment in time.
The Lowdown: Ashley assurance
As per The Chronicle, Mike Ashley has reassured the Kingdom of Saudi Arabia (KSA) consortium that the door will stay open after the arbitration case against the Premier League is completed.
Are the Premier League to blame for the Newcastle takeover collapse?
The hearing has been delayed until early next year due to issues with the disclosure of evidence, but the St. James’ Park owner does not feel as if the deal is over yet.
The Latest: Maguire’s claim
Speaking to Football Insider, Maguire, a pundit and football finance expert who has been following the latest developments in the takeover saga, has claimed that while he does not think that the consortium will be looking elsewhere, the deal is currently ‘off’ at the moment:
“There is nothing to stop them from looking elsewhere.
“But I really think there is an element of pride in this business, to a certain extent.
“The consortium feels that they have nothing to hide and that their financial approach is honourable.
“They want to win this case because they feel they have been dishonoured by the Premier League in the approach which has been taken.
“I think that as much as anything else is preventing them from looking elsewhere.
“But there is no deal sealed because the official word is that the deal is off, even though the two sides clearly have an amicable relationship.”
The Verdict: Patience needed
While Maguire claims that the deal is ‘off’, patience is certainly needed for it to come back onto the table.
The delay in the arbitration process has not helped matters, but Ashley has not yet closed the door on the consortium and it does not seem as if he intends to do so.
Thus, assuming that the arbitration proceedings start early next year as planned, a pathway can still be made, providing that the results go in the favour of the North East club.
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