Newcastle United’s takeover by a Saudi Arabian-backed consortium is still yet to be complete – and we’re now well into July.
Much has been made of the situation over the last few months. One minute it’s received a boost, the next, it’s shattered back down to earth with a blow.
Will the Saudi takeover actually ever happen?
Absolutely!
No way!
So what on earth is actually happening with it? Well, we know the Premier League are still conducting their owners and directors test with some concern over piracy issues in the Middle Eastern state.
And now ChronicleLive reporter Mark Douglas has issued a fresh update on matters…
“Southampton’s ownership situation took nine months to unravel.
“Newcastle feels more urgent than that and the word from the consortium is that while it has frustrated the investors, there’s no prospect of Saudi Arabia’s PiF walking away from the deal.
“But a decision is required by the time the season finishes and the transfer window opens, with the margin for making key decisions on next season slims.”
He claims that despite frustrations from the buying camp, there’s no chance that the Saudi public investment fund walk away from any deal, which comes as majorly encouraging news.
Not at least because the Magpies faithful are sick and tired of Mike Ashley, and a future under him is all too much to even think about.
Douglas alludes to Southampton’s takeover saga and how that took nine months to come to fruition – we’re about halfway there now, so that could quite easily repeat itself.
Gao Jisheng’s bid to land the Saints was originally rejected by the Premier League before being overturned on appeal. Let’s hope this process doesn’t get to that stage.