Keith Downie has dropped a two-word update on arbitration after Newcastle United released a statement with regards to the takeover case.

The Lowdown: Newcastle statement

As per the official website of the St. James' Park faithful, they believe that the arbitration process should be made public.

However, this can only happen if the Premier League agree to this too, otherwise the process will remain confidential.

The North East club also added that they have 'nothing to hide' with regards to arbitration, and suggested that the English top flight should have 'no reason to be afraid of the public spotlight', providing that they have acted 'lawfully and properly', and thus should line with them in making the process public.

The Latest: Arbitration update

When asked by a Magpies fan on Twitter whether the arbitration hearing has started, Downie, a Sky Sports journalist who has been following the latest takeover developments, simply replied: 'Not yet'.

The proceedings are expected to take place this month, but there is no concrete timeframe on what day exactly in July it will begin nor are there any details of how long it will last.

The Verdict: Newcastle bullish

The statement made by the Tyneside club with regards to arbitration is certainly bullish in tone, and suggests that they are very confident in getting a positive result.

The call from the Toon for the Premier League to join and make the case public is also a sign of their confidence, as as they claimed in their statement, they feel as if they have 'nothing to hide'.

Nonetheless, a positive result for NUFC could really speed up the whole takeover process, although they would need to rely on the full cooperation of the top flight, and ultimately get them back on their side.

At the moment, that doesn't look overly likely.

In other news, find out which Euro 2020 star Newcastle are set to bid for here!