Bruce in 'limbo' as Newcastle rocked by shattering transfer blow - Kieran Maguire
Steve Bruce and Newcastle United are in a “depressing” transfer “limbo” as the PIF buyout hits yet another stumbling block.
That is according to finance boffin Kieran Maguire, speaking exclusively to Football Insider about the the latest development in the takeover saga.
As confirmed by the club on 19th July, the tribunal overseeing arbitration proceedings has been adjourned until next year.
The case was initiated to adjudicate the legitimacy of the Saudi Public Investment Fund’s aborted takeover bid last year.
But the club will now remain in the hands of Mike Ashley until at least 2022.
This, Maguire explains, is bad news for the Magpies’ hopes in the transfer market.
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He told Football Insider correspondent Adam Williams: “The implications are that we are in the summer transfer window and in an ideal world, Mike Ashley would have sold the club.
“That would have allowed the new owners to make progress in terms of recruitment. It leaves Steve Bruce in limbo.
“Ashley’s position is similar to someone who is about to move out of their house and notices a crack in the window. He’s not likely to get it repaired for the next person, is he?
“If the next person is not in until at least 2022, Ashley is going to be wondering what the bare minimum he can spend is.
“His objective seems to be that he’s happy to finish 17th each season. I think it’s depressing from a Newcastle fan’s perspective.
“It’s also depressing from Bruce’s perspective because he would have liked more certainty going into the summer.“