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Clarification NUFC takeover paperwork from Mike Ashley and PIF handed to Premier League 8 days ago – Telegraph

2 years ago

Late on Sunday night it was reported that a Newcastle United Takeover had moved a major step closer.

The report from The Telegraph said that the Premier League had been approached and formally informed that a buyout bid is in progress to try and complete the purchase of NUFC.

The main funding for this bid is once again said to be from the PIF, which is the Public Investment Fund of Saudi Arabia, with Amanda Staveley and the Reuben brothers also having a small minority stake of 10% each.

It was unsurprising to see so many NUFC supporters greet this Newcastle United Takeover update with healthy scepticism.

Firstly, we have been down this road so many times since Mike Ashley 12 years ago promised he was selling the football club as soon as possible.

Secondly, with Ashley doing his very best to become the number one hate figure with his actions during this virus crisis, little wonder that fans saw Sunday’s exclusive as just the latest attempt by the NUFC owner to divert attention away from his ‘mistakes’ during the virus situation.

However, on Monday night we saw George Caulkin at last break his silence.

Previously with The Times, George is the most credible of sources for information on the business side of things at Newcastle United and rarely gives updates.

Now working for The Athletic, Caulkin said that he now felt compelled to enter the debate because he had accepted that keeping his powder dry and saying nothing, was less damaging than sharing what he knew.

George Caulkin did indeed back up what The Telegraph had said and revealed that things have been progressing nicely on the quiet, that this is most definitely not a PR stunt from Mike Ashley and both sides are working towards a takeover. He did give the usual warning that with Ashley you can never 100% predict he will not change his mind BUT that everything he (Caulkin) was aware of and had been told by credible sources, a Newcastle United Takeover is moving towards a conclusion.

The stage we are at now is that the Premier League have been informed by both sides, buyer and seller, with now the fit and proper person test and other checks to go through, as well as other final signing off details.

George Caulkin summing up where he saw things were at: ‘The Mike Ashley era at St James’ Park has never been closer to ending…’

Now The Telegraph have clarified about the Premier League being formally informed, saying that indeed BOTH Mike Ashley’s side and the PIF (Public Investment Fund of Saudi Arabia) led bid have submitted paperwork to the Premier League.

They report that this happened on Tuesday 24 March 2020, the prospective buyer and seller both submitting paperwork then.

I don’t blame anybody for thinking/saying they still won’t believe it until it happens and indeed this is probably the best stance for us all.

However, on this occasion I don’t think this can be dismissed as just the usual nonsense. I do believe that the Newcastle United Takeover is now at a stage where it is very close to completion and I hope against hope that nothing happens to derail it.


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