A source from Newcastle United has shared some promising insight from Mike Ashley on the potential takeover.
The Lowdown: Arbitration awaits
The arbitration hearing between the North East club and the Premier League is set to take place in July, as the separate anti-competition lawsuit could also be launched after, depending on the results of the case.
Is the KSA takeover of Newcastle over?
It should give a much clearer picture over the direction of where the proposed deal between Ashley and the Kingdom of Saudi Arabia (KSA) consortium is heading, but until the results are found out there is still uncertainty surrounding St. James’ Park, especially considering its timing in relation to the summer transfer window and the start of the new campaign.
The Latest: Ashley confident
According toThe Sun, Ashley believes that he is going to be given the green light with regards to the takeover bid.
A Tyneside club source has shared that the chief executive of Sports Direct is ‘certain’ that he will win the case, adding that ‘he has told the consortium to have their money ready to complete in a month’.
Ashley has also maintained close contact with Amanda Staveley, as he expects to win his appeal against the top flight.
The Verdict: Confidence helps
The confidence of Ashley that he will win the case against the division can only be seen as a good thing going into the arbitration hearing.
The results of the case will likely determine whether or not the original bid can be revived or not, and if they are positive for the Magpies, then there is likely no need for the separate anti-competition lawsuit.
Nonetheless, the PL will also surely be feeling confident from their point of view, and so the legal battle really does look to be an interesting one, especially given that arbitration is set to take place shortly before the new season starts.
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