Newcastle United’s takeover hopes now rest with the Premier League after documents from Companies House firmed up advanced talks between Mike Ashley and Amanda Staveley.
Staveley is fronting a takeover attempt that involves her PCP Capital Partners group, the billionaire Reuben brothers and 80% backing from Saudi Arabia’s Public Investment Fund.
Questions have been raised whether the Premier League would have any issues with the involvement of Saudi Arabia investment with Amnesty International accusing Saudi Arabia of attempting to use the prestige of Premier League football as a “PR tool” to improve its image.
But the reality is the top-flight have previously approved Sheffield United’s full ownership of the same country’s Prince Abdullah Bin Mosaad Bin Abdulaziz Al Saud.
The Saudi prince originally had a 50% say in matters at Sheff United with Kevin McCabe but eventually worked his way to complete control with the Blades.
Sheff United are trying to build steadily and were closing in on a Europa League place when the season was halted.
Newcastle could well do the same and nobody would complain on Tyneside, as nobody has ever demanded trophies or even Champions League football.
The Sheff United model is interesting though.
Prince Abdullah said last year: “I think we need to improve step by step, we will not be able to qualify for the Champions League in one year but every year we stay we will be much better. This year we brought ten players – quality and quantity.
“Next year if we are in the Premier League we will be bringing two or three super players.
“We are optimistic that gradually it will be in a better position. Next year, the middle of the table, after – above that.”
In a piece with the Telegraph, he was also asked about ethics and said: “I don’t like to talk about politics, that why I love sports.
“I have been in sports all my life.
“You ask me any sports question, no matter how tough it is I will answer it when it comes to other topics I prefer to stay away from those.”
So if it doesn’t hinge on political reasons what else could stop this deal now?
The answer is probably only one man in Mike Ashley.
As the takeover frenzy accelerated heading into the weekend a Daily Mail article by London-based Martin Samuel suggested that there could be an issue on the price and why the deal was being mooted at £300million and not the original £340million price tag.
Are there alarm bells ringing? Arguably, Ashley’s silence is allowing them to do so as he’s taken no real steps to switch them off.
A short snappy statement from the club could have eased the anxiety for thousands of paying fans, but instead, the agony goes on – despite repeated attempts to get answers from journalists.
Maybe the Saudia Arabia’s Public Investment Fund can afford another £40million, but should they have to pay more because they have more or should they simply pay the value of the club in the current financial climate?
A deal has progressed but as of Friday morning, it hadn’t been rubber-stamped.
As stated, the future of Newcastle United is now down to Ashley and whether he will take the terms on offer.
Will he change his mind on conditions or price or the structure?
Only time will tell.
The prospective Newcastle United takeover hinges on one thing now - Chronicle Live
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