Mike Ashley has made the first step in a new effort to push through the Saudi Public Investment Fund’s Newcastle United takeover bid.
That’s according to Sunderland icon Kevin Phillips, speaking exclusively to Football Insider about the latest developments in the ongoing takeover saga.
Last week, Ashley launched an anti-competition lawsuit against the Premier League in regard to the takeover.
Ashley claims, “As a result of the breaches by the Defendant [Premier League], the Claimant [Ashley] has suffered loss and damage. [Shields Gazette]
This is a separate move to the ongoing arbitration hearings between Newcastle and the English top flight.
As revealed by Football Insider in April, the Magpies are privately confident the Premier League will green light the Saudi-backed takeover bid over the coming months.
Phillips claims Ashley is searching for a breakthrough as he continues to push through the Saudi-led takeover bid.
“He [Ashley] obviously wants something to happen,” Phillips told Football Insider correspondent Dylan Childs.
“He’s made the first step. It could be great news for the Toon supporters.
“They’re desperate for the club to be sold and if that can happen over the summer at some point then Newcastle go into next season looking up.
“They’re looking like finishing this season strongly so new owners over the summer would make that even better.”
Newcastle lost 4-3 to Manchester City in an entertaining clash on Friday.
The club’s status as a Premier League club is secure after Fulham’s relegation last week.