Revealed: Major update on Newcastle takeover after Sky journalist reveal
The Newcastle United prospective new owners are still confident of completing a deal to buy the club from Mike Ashley, Football Insider understands.
A decision from the Premier League to ratify the takeover has been delayed as lawyers examine new documents claiming to provide evidence of a link between the Saudi state and illegal streaming of sports in the country.
A Newcastle source has told Football Insider that fun unrest over the timescale of the deal is understandable but there is genuine confidence PCP Partners’ £300million takeover will eventually be ratified.
Delays have been exacerbated by the legal ramifications associated with Project Restart and the completion of the Premier League season.
That has take up considerable resources of the governing body and diverted some attention away from scrutinising the Newcastle deal.
Sky Sports journalist Keith Downie reported yesterday on his personal Twitter account that it is not unusual for there to be this kind of period of “quiet” during a Premier League takeover.
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In the Newcastle case, there is said to be some unrest from rival Premier League clubs amid suggestions the sale could be blocked on the basis of commercial concerns.
If the new documents prove a link between the Saudi government and pirate streaming platform BeoutQ it could cause them to fail the fit and proper owner test.
The projected £300m takeover of Newcastle would see Saudi Arabia take an 80 per cent stake in the club, Amanda Staveley’s PCP’s partners would own 10 per cent and property tycoons, David and Simon Reuben, the remaining 10 per cent.
The delay in announcing the takeover, backed by Saudi Arabian crown prince Mohammed bin Salman, has led to suggestions Ashley may consider alternative buyers.
However, a deposit has been paid and all the relevant paperwork has been signed, and the deal will be finalised if it gets Premier League approval.
In other Newcastle United news, Bruce has revealed transfer plan that the Toon faithful would absolutely love.