Duncan Castles has been speaking on the latest episode of The Transfer Window podcast about the failed takeover of Newcastle United.
Castles used quite a bit of the episode to discuss the next steps in this process after Amanda Staveley’s Saudi Arabian-backed consortium withdrew their offer to buy the Toon on 30th July.
This led to Castles discussing what Staveley’s company, PCP, thinks about PIF and if they would be interested in returning should the deal be revived.
He said: “PIF have made a statement saying that they are out of the deal, and my understanding is that when they said they were out of the deal, it was a categorical decision.
“So PCP would also need to get PIF back on board, and the guidance I have is they expect that would be viable, they say that they believe that the Saudis are still interested in owning a Premier League club and if the opportunity – which was there previously – is presented to them again, that they would get on board with it.
“But I think it’s an open question as to whether they actually would get on board with it if PCP manage to jump over all the very significant hurdles that are in front of them.”
So, it seems as if PCP think that the Saudis would still be keen to do a deal; however, Castles is not so sure.
Do you think PIF would come back?
Yes
No
TIF Thoughts…
It is believed that PIF very much led the consortium withdrawing their offer and because they were going to be the majority owners of Newcastle that caused the deal to collapse, though, the withdrawal was agreed upon by all members.
However, since then, there have been indications from PIF that back up what PCP believe – that they would still be interested but that they would need written assurances from the Premier League that they would pass the deal.
Mike Ashley is still a willing seller and is trying everything he can to resolve this situation, so this might be one to keep an eye on over the coming days and weeks.
If Ashley does force the Premier League into doing anything, then it would interesting to see if PIF come back or not.