Kieran Maguire: Newcastle will be ’embarrassed’ as takeover investigation launched
An investigation into the Newcastle United takeover would be “embarrassing” even though they personally have done nothing wrong.
So says finance guru Kieran Maguire, speaking exclusively to Football Insider about allegations of a conflict of interest at Premier League HQ.
Per The Times on 11 April, a law firm run by interim Premier League chair Peter McCormick conducted preliminary checks on the Magpies’ Saudi-led £305million takeover in October last year.
This has led rival top-flight sides to accuse the league’s decision-makers of having a vested interest, with implications for impartiality.
The Times updated last Friday (22 April), claiming that the FA board is now set to investigate McCormick’s alleged conflict of interest.
Maguire claims that there could be a PR backlash for Newcastle despite the fact that the takeover passed all checks.
“There’s nothing to worry about for Newcastle because they have done nothing wrong,” he told Football Insider‘s Adam Williams.
“But it does look embarrassing if this investigation goes ahead. You can understand the optics of it in that respect.
“The club has, however, been completely vindicated in their eyes and indeed in their fans’ eyes with regards to the PIF takeover.”
Newcastle instantly became the richest club in the world following the controversial buyout from the Saudi Public Investment Fund.
Eddie Howe’s side have all but mathematically secured their top-flight status this season after an extraordinary run of form in 2022.
In other news, pundit suggests Chris Wood could be binned for “big-money” arrival after Newcastle United development.