Newsletter

Get your daily update and weekly newsletter by signing up today!

News

Sky Sports reveal Manchester United turn down Saudi bid, now want to make Newcastle European force

10 months ago
Share

Interesting update from Sky Sports on the Newcastle United takeover situation.

Sky Sports presenter (and Newcastle fan) Pete Graves giving an overview of the situation.

Graves says that the bid is 100% real and that Amanda Staveley really is back ‘with the Reuben brothers and this Saudi Arabian sovereign wealth fund.’

He also reveals that the original plan was to buy Manchester United but the Glazers rejected that.

So instead they switched to Newcastle United in the belief that there is clearly the potential to turn the club ‘into a major European force’ in the coming years.

As for the leaked news of the bid/talks at the weekend, the Sky Sports man makes clear that neither buyer or seller was responsible for that and indeed both parties were ‘upset’ that it was made public.

As for affordability, Pete Graves states that whilst the Bin Zayed Group weren’t able to come up with a ‘significant deposit’ when asked to do so by Mike Ashley, these current bidders are ready and able to do that instantly, or indeed pay the whole £340m reported asking price immediately.

Will it really happen this time? Who knows, we have been here so often, and whilst I have no doubt Pete Graves is reporting honestly what he has been told, who knows what anybody’s true intentions are. Especially when we are dealing with Mike Ashley.

The man from Sky Sports believes the next few days are ‘critical’, lets hope it is indeed only days before we have a final result.

Pete Graves of Sky Sports reports:

“Does this consortium exist, is Amanda Staveley really back with the Reuben brothers and this Saudi Arabian sovereign wealth fund?

“Yes. They have been in talks to buy Newcastle United. It is hugely exciting I guess if you want a takeover and you are a Newcastle fan – because these guys have very deep pockets.

“They have been interested in the club for a year, they tried to buy Manchester United and made a bid, that was rejected and they were alerted to Newcastle United as a far cheaper option but with the potential there to turn them into a major European force and that is what got them interested in the first place.

“Remember the Bin Zayed Group from Dubai?

“They couldn’t buy the club because they were asked to put down a significant deposit, they weren’t able to do that and it fell flat.

“This group though have no issue paying any deposit and in fact they will pay the full £340m, no problems whatsoever.

“Told that Mike Ashley does want to sell the club, significantly he has got his lawyers still working on it all of the time, so these guys are ready to buy the club, but of course the leaks came out at the weekend. Told that all parties were upset about that, nobody wanted it to come out, but hey, it did, it was in The Wall Street Journal and we are here, back where we have been before.

“So what do we do next?

“Well, the answer is, we all have to wait I’m afraid, be patient.

“The next few hours and days are absolutely critical.”

Share

If you would like to feature on The Mag, submit your article to [email protected]

Have your say

© 2020 The Mag. All Rights Reserved. Design & Build by Mediaworks