A lot of Newcastle United fans have replied to a post from NUFC 360, which includes a link to a report in the Daily Telegraph about the PIF.
The report claims that Saudi Arabia’s PIF has bought a stake in BT as they continue their pandemic bargain hunt’.
The Public Investment Fund is currently involved in a proposed takeover of Newcastle led by Amanda Staveley that will see it take an 80% stake in the Toon.
Is this positive for the takeover?
Yes
No
However, there have been concerns over piracy that have led to some suggestions that the Saudis will have to make some concessions, but it seems as if many Newcastle fans feel that with them buying a stake in BT, the Premier League will not block this takeover.
Surely that’s great news regarding piracy
— Nathan_mcp (@nathanpoafb) June 21, 2020
Absolutely no one can this takeover be rejected with the business they’re doing
— William Waterson (@WilliamWater2) June 21, 2020
this is looking positive
— Peter Gallagher (@peter_gallagher) June 21, 2020
Significant..#NUFCTAKEOVER https://t.co/rJmRa1Iuyv
— jeffburtle (@jeffburtle) June 21, 2020
This may be because BT is one of the PL’s trusted broadcast partners – so if the Saudis are now investing in them, the thinking will be that this is a positive move for the takeover.
Saudi Arabia has also announced that they will be cracking down on piracy and have sent a letter to the major sports bodies in the world to assure them that they will take responsibility for ending piracy in their country.
The takeover of Newcastle has received criticism from the likes of Richard Keys and Miguel Delaney, which is what these Toon fans have focused on following this development.
@MiguelDelaney This is a disgrace of the highest order. I’m going to send a letter to someone.
— Alan Coleman (@AlanColeman86) June 21, 2020
Miguel Delaney cancelling his BT subscription as we speak
— Robert Brown (@robertbrownnnn) June 21, 2020
Queue the letters of complaint from @richardajkeys
— Craig Grant??????? (@craiggrant1988) June 21, 2020
It will be interesting to see if the new policy on piracy and this investment in BT will lead to the PL reaching a positive decision.
Certainly, the feeling from Craig Hope is that a decision is not far away, and it is going to be good news for Newcastle fans.