Saudi PIF and Mike Ashley still committed to Newcastle United takeover – Report
An interesting update on the Newcastle United takeover saga.
With the Press Association reporting that Mike Ashley and the Saudi PIF are still committed to concluding the deal.
The update interesting, mainly in terms of as to exactly why Mike Ashley has chosen to put this information / story out in the public domain.
The Press Association are about as reliable as there is, when it comes to sourcing a story.
They don’t put anything out, unless somebody has briefed them.
On this occasion it is clearly Mike Ashley’s people who have briefed Damian Spellman from the Press Association, putting the story out into the media.
The Press Association say that they have been told that: ‘Ashley feels the sale has been agreed and simply needs to be rubber-stamped by the governing body.’
They then add that the Newcastle United owner is taking the legal route: ‘to secure Premier League approval for the proposed takeover, having entered into an arbitration process.’
The report makes clear that the Saudi PIF deal is the only one Mike Ashley is interested in, dismissing recent speculation that one-time Roma owner James Pallotta could be an alternative buyer.
The only possible fly in the ointment (apart from the Premier League so far failing to ok the Newcastle United takeover), is the question of what happens if in the meantime Steve Bruce relegates NUFC. The reality being that we can all assume Mike Ashley wouldn’t then adjust his price in any substantial way, whilst it would make zero sense and just wouldn’t happen, for the Saudi PIF to pay the same for a Championship Newcastle United as they would for a Premier League one.
Bottom line is that Saudi PIF have (are?) prepared to pay Mike Ashley more than the club is worth (as a Premier League), which ensures they are the only possible deal.
Previously, Mike Ashley pretended he was trying to sell the club but in reality had no intention, as he was unwilling to take a market price for Newcastle United.
The club is in a serious mess as things stand and even if relegation is avoided this season, the thought of continuing beyond 14 years of Mike Ashley isn’t something any of us want to believe will be the reality, with massive work needed to repair the damage he has inflicted on the club, including a complete refusal to allow investment in the club’s infrastructure.
If you would like to feature on The Mag, submit your article to [email protected]