Sky Sports – Mike Ashley has now transferred Newcastle United shares to Saudi consortium
Breaking news just before 5pm on Thursday afternoon, regarding Mike Ashley and the sale of Newcastle United.
Sky Sports reporting that funds and NUFC shares have been transferred between Mike Ashley and the Saudi PIF funded consortium.
With all that is awaited now is the official confirmation that the turnover has been completed.
Last night BBC Sport revealed (see below) that a sale had been agreed between the consortium and Mike Ashley ahead of the announcement on Wednesday, that Saudi Arabia had come to an agreement with beIN Sports that ended the TV piracy issues.
BBC Sport report – 6 October 2021:
‘A Saudi Arabian takeover of Newcastle United is close to being agreed.
Approval from the Premier League could possibly come in the next 24 hours after a consortium proved the Saudi state would not have control of the club.
Instead the Public Investment Fund (PIF), which is set to provide 80% of funds for the £300m deal, will be seen as separate to the state and therefore allow the takeover to pass the Premier League owners’ and directors’ test.
It was believed that a resolution came after Saudi Arabia settled an alleged piracy dispute with Qatar-based broadcaster beIN Sports, which own rights to show Premier League matches in the Middle East.
But sources have told BBC Sport that an agreement between the Premier League and the consortium was found prior to the news emerging on Wednesday, with the two parties being set for arbitration on 3 January.
The Saudi Arabian state has been accused of human rights abuses, but with the majority owner PIF deemed a separate entity, that, and any piracy issues, are no longer an impediment to the takeover in the Premier League’s view.’
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