Craig Hope has now dropped an update on Newcastle United’s proposed arbitration case with the Premier League over the initially stalled takeover deal.
The Lowdown: Announcement imminent
As per Sky Sports, an announcement confirming the takeover of the St. James’ Park faithful by the Kingdom of Saudi Arabia (KSA) consortium is now imminent after recent work being done behind the scenes by all of the parties involved.
Will the Newcastle takeover go through?
It is not yet clear how this would affect the arbitration hearing, which is due to take place on January 3rd.
The Latest: Arbitration update
According to Hope, sources have of course indicated that the proposed takeover is expected to go through, but The Daily Mail journalist also gave an update on arbitration:
“Sources indicate NUFC takeover is expected to go through after settlement of piracy issues between Saudi/beIN. I’m told arbitration may not be needed now piracy is resolved.”
The Verdict: Relief
It will certainly come as a relief to the Toon Army not only that it looks like that the takeover will now go through, but that the whole saga is coming to an end after years of waiting.
It is not clear whether the arbitration proceedings will still go ahead assuming an official announcement is made, but at least it looks like a deal will finally be completed soon.
Nonetheless, these are very exciting times for Magpies fans, who will no doubt want the deal to be concluded as quickly as possible.
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