Newcastle United Takeover – Premier League celebrate 100 (days) not out continuing to frustrate process
The Newcastle United Takeover.
Incredibly, today marks a full century of days since the Premier League began their process of checking whether all the boxes were ticked.
Rules already laid out in black and white for the Premier League lawyers to check against. Not new rules / hurdles that could be put in place to navigate.
So 100 days after Mike Ashley, along with Simon and David Reuben (pictured above), Amanda Staveley and the Saudi PIF, forwarded the relevant paperwork to the Premier League, we appear to be no further forward. At least to the naked eye.
It is quite appropriate that at the height of the English summer on the day we mark a century of the Newcastle United Takeover with the Premier League, that play at today’s England v West Indies test match was a complete washout.
To take the cricket analogy one more step further, you have to wonder whether it is Geoffrey Boycott (I would have said Chris Tavare but only the real cricket connoisseurs would have got that reference) leading the Premier League legal team. A perpetual straight bat and refusing to run with this Newcastle United Takeover.
It is not exactly the best kept secret that, George Caulkin, the man from The Athletic, is close to the bidding side of things, and as well as giving that 9 April 2020 PL start date to look at the takeover (see below) he also back in April gave some idea of the scale of work that would need doing once the new owners were in place.
He (along with the rest of the media) said they understood the Premier League would take around 30 days to do their checks and processes, w are of course instead currently on 100 days and counting with no Newcastle United takeover outcome.
We are only nine days away from the summer transfer window opening (27 July) and 56 days away from when (12 September) the 2020/21 Premier League is reported to be kicking off, confirmation expected very shortly.
Can the Premier League really allow this Newcastle United takeover farce to be still ongoing once we are into the transfer window?
Surely they have a duty of care to Newcastle United, the prospective new owners and the seller…and yes, even the fans(!), for a conclusion to be reached?
We are basically talking about this coming week then for the takeover to be announced because once you get into the following week, you are into the transfer window AND less than seven weeks until next season kicks off.
Surely the Premier League dereliction of duty can’t stretch that far…?
The Athletic report from George Caulkin – 20 April 2020:
‘Where do things stand?
The Athletic has been told that all necessary documents have been exchanged between the two parties and that a deposit has been paid, with the Premier League now working through the owners’ and directors’ test, which effectively represents regulatory approval.
Once that has been granted — it began around April 9 and they have been told it could take up to four weeks — completion of a £300 million sale becomes automatic.
“There’s no stopping it now,” says one source, who insists that the owners’ and directors’ test has not yet raised any red flags.
There has been no public word from either party, although a detailed document lodged at Companies House last week presented for the first time the existence of an agreement between Ashley and Staveley.’
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