'The only thing holding it up is...' - Exclusive: Mills shares Newcastle takeover insight
Danny Mills has claimed the uncertainty surrounding the current Premier League season will be holding up the Newcastle United takeover.
The former England international, speaking exclusively to Football Insider correspondent Dylan Childs, suggested the prospective new owners will be worried about potentially having to pay back sponsors and broadcasters if the season is cancelled.
The Magpies have been waiting over a month to receive confirmation of the PCP Partners’ £300million takeover of the club.
BBC Sport revealed this week Premier League clubs are staring at a £340million TV refund if the season is cancelled or even played behind-closed-doors.
Mills believes the financial uncertainty is to blame for the deal stalling.
“There will be lots of legal issues around it,” he told Football Insider.
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“What if the season gets cancelled? There is a possibility that they will have bought a club and then have to pay back hundreds of millions for a club that they have just bought.
“It is an interesting one. I am pretty sure the only thing holding that up now is what is going to happen with the Premier League. What is going to happen to the restart and this season? There are too many unknowns.
“The deal will be agreed in principle. It is a long-term plan but the issue will remain if the Premier League is cancelled.
“Broadcasters and sponsors may want their money back and suddenly a club you have bought a club for £300million and you have to pay another £100million on top of that. I suggest that would be the sticking point.”
Football Insider understands ‘Project Restart’ wants a return to Premier League action in early June.
However, it is far from a certainty with players objecting to the return as well as all 20 clubs voicing their preference for the neutral venues proposal to be abandoned.
In other Newcastle United news, it can be REVEALED that midfielder is destined for summer exit.