Newcastle United takeover delay – House of Saud explains why
Back in April it was revealed that the Newcastle United takeover was now with the Premier League .
That they would now go through their process and checks, with it set to take around four weeks.
Those four weeks are now up and more than a few Newcastle fans are getting nervous, wondering if the longer it takes the more chance there is of something stopping the deal going through.
Interesting then to see in response to the growing panic, Saudi Arabia media responding.
House of Saud (an independent English language website covering Saudi Royal Family news and information) putting out an update – ‘Saudi Royal Family takeover of Newcastle United delays explained.’
They report that an announcement had been pencilled in for Monday (4 May) but that a ‘few small details’ prevented that.
Those ‘few small details’ aren’t regarding the financial side, with House of Saud stating that their information is that the purchase price has been agreed and deposit paid, in advance of the Premier League process.
They also reassure Newcastle fans that speculation claiming the Premier League could block the Saudi Arabia PIF bid are completely untrue.
Adding that they know the Saudi Finance Minister has not been informed of any such issues or obstacles with regard to the Newcastle United takeover.
They say that the ‘few small details’ will be swiftly sorted and indeed reports elsewhere have said that part of the PL process has seen the Premier League request some bits of extra documentation, to tick boxes.
The virus lockdown in both the UK and Saudi Arabia has also delayed matters but House of Saud report that they have been told that there is every confidence that at the latest the Newcastle United takeover should be announced next week.
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