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Newcastle United: Mark Douglas drops PIF claim after takeover power play

Newcastle United: Mark Douglas drops PIF claim after takeover power play - Newcastle United News

Mark Douglas has dropped a big claim on Mike Ashley’s Newcastle United takeover power play.

The Lowdown: Ashley seeks control

Last week, the club confirmed that HM Revenue & Customs (HMRC) were discontinuing their investigation into their taxes, which in turn prompted Ashley to refer to ‘dark forces’ which were preventing them from becoming the ‘powerhouse that the fans deserve’.

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The chief executive of Sports Direct also launched an anti-competition lawsuit against the Premier League with regards to their decision-making process in the failed deal between him and the Kingdom of Saudi Arabia (KSA) consortium.

With damages to be claimed, Ashley is trying to get as much out of the failed bid as he can, as he aims to be fully prepared for the ensuing legal battle against the Premier League.

The Latest: Douglas drops PIF claim

Writing in his latest piece for The Chronicle, Douglas has claimed that Ashley’s takeover power play is part of a continued attempt to keep the KSA’s Public Investment Fund (PIF) from being tempted by the possibility of investing in other clubs.

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PIF have reportedly been interested in investing in Inter Milan, and Douglas believes that Ashley’s latest power play is a way to keep them fully focused on the Tyneside club.

The Verdict: PIF vital to takeover

PIF are vital to getting the original deal back on track, and a pathway must be cleared for them to come back onto the table.

If this is not done, then PIF know there are other opportunities elsewhere, namely Inter, to which they can turn instead if all else fails.

Nonetheless, a crucial period in Newcastle’s history is coming up as the legal battle could be set to commence after the season finishes, with the Magpies hoping for a positive result against the Premier League.

In other news, find out what other big claim on the potential takeover has been dropped.

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Article title: Newcastle United: Mark Douglas drops PIF claim after takeover power play

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