Newcastle United takeover update – Don’t get too excited
It’s been a while since I last wrote about that elusive Newcastle United takeover.
I thought then that the Saudis had lost interest after shoddy treatment from the Premier League and the pandemic at our doorstep.
In a nutshell, although there is a lot going on, I don’t think that it will end in a deal.
I’m no legal expert, have no insider information or links to the club. What I do have is good old fashioned Geordie common sense.
My last article suggested that the Saudi Public Investment Fund weren’t active enough to make things happen, either behind the scenes or through the media. Since then, Mike Ashley has provoked legal action via arbitration and a fans group have done their best to get the Premier League’s actions made transparent.
Five huge things that I would like to have seen happen were:
The Saudis to have stayed active to force a decision, this would have helped any legal battle and offered foundation for an appeal.
A formal announcement to confirm to our fans that they were still interested.
A legal attempt to dispute the actions of the EPL.
Attempts to rearrange the deal even if that meant an individual taking things forward rather than the PIF of Saudi Arabia.
More transparency regarding their experiences.
Now before you point to exclusivity and legal protocol, I accept some of this may apply ,but can’t help feeling that we want the deal more than the Saudis. We really do need some inspiration and explanation. To be honest, I’m sick of hints and hidden signs.
Then there is the very strong rumour that won’t go away.
This suggests that an individual Saudi Arabian has been negotiating to buy the club, is this the attempted rearrangement of the deal that we all crave for? This would make sense.
So how will it all end?
I feel that Premier League committee wrongdoing will be exposed, this will result in compensation to Mike Ashley to add to the £17m deposit he acquired!
I think the Premier League will still maintain that the PIF is state owned and how can you argue? Possibly point towards the fact that Manchester City is just that?
Whatever happens, sorry for the pessimism and have a merry Christmas and a safe New Year.
I’ll leave you with three observations.
One is that the Government who said they didn’t want to get involved, were just that, through secret meetings.
The second is that Mike Ashley has set up a very good smokescreen to cover up his lack of ambition.
Finally, could it be that the Saudi Government and PIF are irrevocably connected and some of the concerns have substance?
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