The Athletic recently issued an update about Newcastle United’s potential Saudi takeover.
The media outlet recently published an article that was written by Chris Waugh. The article originally talked about Steve Bruce and who is ‘judging’ the Magpies boss currently. The piece also went onto give some details about the situation of the club’s Saudi-backed takeover attempt.
It was recently reported by the Guardian that the Saudi state has announced a crackdown on the illegal streaming of sports in the country. It was said that this has ‘boosted’ the chances of this Toon takeover being approved by the Premier League.
The piece from The Athletic claimed that this announcement does indeed indicate that ‘progress is being made’, with regard to satisfying the Premier League’s owners’ and directors’ test. However, the article does then go on to say that ‘nobody can be sure’ whether or not the completion of the takeover is imminent.
Do you think the takeover will be complete by this time next week?
Absolutely
I don't think so
It was confirmed that nobody connected to the potential takeover was at St. James’ Park to see the Magpies pick up a 3-0 win over Sheffield United at the weekend.
Here’s what was stated in full:
‘Or what about the aforementioned consortium, Saudi Arabia’s Public Investment Fund (PIF), which will be the 80 per cent majority stakeholder if the prospective takeover is ratified? Those close to the deal hope that Sunday’s confirmation that the Saudi government has announced a crackdown on illegal streaming of sporting events finally signals progress is being made when it comes to satisfying the Premier League’s owners’ and directors’ test.’
TIF Thoughts…
This update from The Athletic should fill Newcastle fans with some excitement about what the future might hold. The World Trade Organisation had initially brought in a hindrance for the takeover, as they had ruled that the Saudi state had breached intellectual property rights by supporting a piracy service in the country.
That problem now seems out of the way with the latest announcement. The only hurdle at the moment seems to be the Premier League’s owners’ and directors’ test- as The Athletic’s report points out. The club’s fans can only hope that the takeover passes that test and the Saudi takeover does indeed go through. It would bring them much-needed delight and joy.