Kieran Maguire: This is when mega spending can begin at Newcastle amid takeover latest
Newcastle United will be able to begin spending mega sums in the transfer market as soon as a takeover deal goes through.
That is according to finance guru Kieran Maguire, speaking exclusively after Football Insider revealed that the club is confident a regime change will be given the go-ahead in July.
Newcastle must swerve a legal roadblock before the PIF-led consortium can resume the £300million deal which was shelved last summer.
But arbitration proceedings relating to that deal conclude in July and Newcastle chiefs are optimistic the case’s outcome will be positive for them.
Current owner Mike Ashley meanwhile has sanctioned an anaemic transfer kitty, just £8-10million, for the coming transfer window, as first revealed by Football Insider.
But Maguire is confident a new level of spending can begin as soon as a takeover is over the line.
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He told Football Insider correspondent Adam Williams: “As soon as they get the green light, there’s no reason the deal can’t go through straight away.
“A bit like the Ancelotti [to Real Madrid] deal, where there’s a will, there’s a way. You can get these things through very quickly because the accountants and the lawyers will simply work 24/7.
“Does PIF have to raise the cash? No, they’ve got the cash. It’s as simple as transferring it from one person’s account to another.
“Would they want that to be as soon as possible? Yes, because every day you delay is a day when you’re not able to go into the transfer market.
“Get it done and you can immediately start to utilise some of that big budget for next season.”