Ali Jassim acting as a broker in Newcastle United takeover – The New York Times
An interesting update on the Newcastle United takeover from The New York Times.
The newspaper reporting that Ali Jassim is acting as a broker as the Saudi PIF attempt to take control of Newcastle United.
Jassim, worked on the takeover of Manchester City back in 2008 and the US newspaper says that he is a ‘close business associate’ of Sheikh Mansour.
The New York Times says that Ali Jassim is ‘a key player’ in the Newcastle United takeover and they state that they have seen documents showing that Jassim joined forces last year with a British businesswoman (Amanda Staveley) and an American socialite (Carla DiBello) to work together to help facilitate the Saudi PIF takeover.
The newspaper says that Ali Jassim first met Amanda Staveley when working on the deal that saw Sheikh Mansour buy Manchester City 12 years ago.
Whilst the report gives no insight into when exactly we can expect a decision / announcement on the Newcastle United takeover and the completion of the behind closed doors Premier League process.
It does though give an element of reassurance that the Saudi PIF are committed to the deal, if you are still in a state of denial that this time interest in an NUFC takeover is for real.
Whilst most interestingly, The New York Times report gives an insight into how the Saudi PIF and Mike Ashley have been brought together to do a deal.
The New York Times reporting:
‘The involvement of such a diverse cast of rainmakers and middlemen in a plan to broker the sale of a Premier League franchise to Gulf interests underscores the enduring appeal of English soccer teams to global plutocrats.
But it also shows the key role personal relationships can play in deals involving the most high-profile figures and institutions in the Arab world, and the rich rewards available to those who can forge them.
DiBello and Staveley’s roles in the Newcastle United sale have been reported, and each has a defined role in the process.
While DiBello has little experience in deals the size of the Newcastle sale, The Wall Street Journal reported that she has developed a close relationship with the Public Investment Fund’s governor, Yasir al-Rumayyan, who is representing the fund in the sale. Staveley, who for years has cultivated a public image highlighting her proximity to influential figures in the Gulf, is responsible for negotiating with Ashley.
Jassim’s role is less clear. The agreement describes him as having “significant experience in identifying, coordinating and consuming large cross-border transactions,” though it does not define his role in the proposed Newcastle acquisition.
A spokesman for the proposed ownership group declined to comment.’
We all suspected that whenever Mike Ashley did finally release his grip on Newcastle United it wouldn’t happen without a certain level of stress and anxiety for the fans, nobody though could have foreseen this takeover saga that appears to be never ending.
Only six days now until the Premier League restarts for Newcastle United and what a difference confirmation of a takeover would make this week.
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