Report: Striking takeover update will have Newcastle United fans seriously worried
A major update in the proceedings of the ongoing Newcastle United takeover has dawned upon us, and it’s not good news.
We have all been sat on our hands waiting patiently for, what we thought, an imminent announcement to be made regarding the £300m purchase of the Tyneside club from retail tycoon Mike Ashley.
The Saudi-based consortium made up of the Public Investment Fund (PIF), backed by Amanda Staveley’s PCP Capital Partners and the Reuben brothers will be taking all of the club’s shares if the deal goes through.
However, this may not be the case as the investigation into PIF continues.
According to The Guardian, proceedings may have taken a turn for the worst after the World Trade Organisation (WTO), the ones investigating Mohammad Bin Salman, the crown prince of Saudi Arabia, have ruled that his country is in fact behind pirate satellite television and streaming service, named beoutQ. This supposedly offers illegal access to sporting events, including the Premier League and the German Bundesliga.
Will PIF takeover the club?
The report adds that the WTO’s 130-page dossier on their findings is not due to be released until mid-June and the Premier League have submitted evidence against Saudi Arabia as part of the legal process.
This situation appears to be going down a dark and dangerous route. Qatar’s beIN Sports, Amnesty International, FIFA, UEFA and La Liga have all taken exception to the country’s alleged record when it comes to human rights and their suspected involvement with pirate TV.
As if things couldn’t get any worse for us all as a club. Fans have preached their concerns before about this and just as things were looking up for us, we could be stuck in Ashley’s reign of terror for a little longer.
A nightmare scenario. Until the official dossier is released by the WTO in a few weeks, I suspect that the St James’ Park faithful will be kept in the dark for the time being.