After almost three months of takeover announcements at Newcastle, the saga is still rumbling as there is no headway in the change of leadership.
Newcastle owner Mike Ashley has never hidden the intention of wanting to sell the club after fans have been calling him out., but the takeover has not crossed the line. Interestingly after accepting a £300m offer from the Prince Investment Fund, the Premier League is yet to make a single comment about the development. This has left everyone guessing as they don’t know what is forthcoming. It could even affect the staff of the club as they don’t know what the future holds for the Toon Army.
As the deal is yet even to get to anywhere close to seeing it go through, football action is back at St James’ Park, but Mike Ashley is very much in charge of the club, unfortunately. This makes it feel like an age since he first accepted that £300m offer.
What’s causing Newcastle takeover delay?
According to reports, in any potential takeover situation, the new owners have to pass the owner’s and director’s test. But due to piracy in Saudi Arabia, the deal has suffered a huge delay, which is halting the takeover from being announced.
The Sun’s Alan Nixon via his Twitter page, said that the Premier League had made a particular request, which would be ensured they got something from the Saudi’s if they approved everything. This is intriguing, but unsurprising because politics has got in the way of the deal.
All Newcastle fans that waited eagerly for the World Trade Organisation’s report last week to shed some light on the takeover didn’t get what they wanted. The WTO discussed Saudi Arabia in huge detail but didn’t mention the Magpies and what was happening in the north-east of England.
The Saudis have been accused of illegally broadcasting Premier League games. With the Premier League being cautious of the deal, they have now come to a legal arrangement regarding the rights, but it is looking like they still have one last request. That is expected to be known in a few days.