Luke Edwards was recently a special guest on the most recent edition of the Everything is Black and White podcast, and has been talking all things Newcastle United with Mark Douglas and Andrew Musgrove.
One of the topics that the Daily Telegraph reporter spent some time on was the proposed takeover of Newcastle United, and he revealed that he can’t see anyone else coming in to buy the club while the bid from PIF, PCP Capital Partners, and the Reuben brothers is still active.
This bid was officially withdrawn in July, but the case has now been handed over to the lawyers as Mike Ashley looks to force the deal through after the Premier League refused to make a decision on the proposed takeover.
So, because of this, Edwards can’t see any other interested parties putting in a bid until the Saudi-backed bid is resolved one way or the other.
It seems as if Edwards does not think anyone else will be trying to buy the Toon until the legal action has been resolved, and that will either lead to the takeover happening or stop it stone dead.
He said: “As long as the Saudis are there, nobody else is realistically going to try and buy them.
“I think the Saudis’ presence scares everybody else off.
“So, whilst they are still at the table – and they are, we are led to believe, still at the table – until it’s rejected [no one else will bid].
“But, again, that’s what the legal action will do – these are the options when he [Mike Ashley] takes the legal action: he either sells the football club to the Saudis, or he kills it forever, and they can’t come back.”
Do you think Edwards is right?
Yes, this bid has to be resolved first
No, other interested groups could still try
TIF Thoughts…
The lawyers are now looking at this deal after the Premier League refused to make a decision and rejected the claim that PIF and the Saudi state are separate.
They asked for more evidence, which the consortium refused to provide, which stopped the deal from progressing any further.
There was then work done behind the scenes, but the Premier League refused to pass the takeover again, which led to Newcastle’s statement and then led to Ashley appointing two lawyers.
So, it will be interesting to see what happens next, but it is clear that Edwards thinks the Saudis’ continued presence is stopping other bidders from trying to buy the Toon.