Luke Edwards has been speaking on a recent edition of The NUFC Late Show by Gallowgate Shots about all things relating to Newcastle United.
One of the main topics that came up on the show was the proposed takeover of the Toon by PCP Capital Partners, PIF and the Reuben brothers and what stage it is currently at.
It seems as if, according to the Daily Telegraph reporter, the deal is at the exact same stage as it was when it was withdrawn as nothing has changed because the buyers have not accepted the offer of independent arbitration to decide if PIF and the Saudi state are separate.
He said: “The buyers said, ‘No, no, no, the PIF is completely separate, [Mohammed bin Salman] will have nothing to do with the football club, the running of the football club, so why are you asking?’
“So, the Premier League said ‘okay, we will go to independent arbitration to get over this logjam; they couldn’t progress because the Premier League were asking for something the buyers didn’t think they needed to give.
“They didn’t go to independent arbitration, they didn’t provide the information they were after, so it just got stuck, and nothing’s changed, it’s still stuck.”
Do you think this deal will ever go through?
Yes, one day it will
No, it will never happen
TIF Thoughts on the Saudi-backed bid for Newcastle…
The bid from the Saudi-backed consortium was withdrawn on 30th July, and the Premier League claimed that the reason the bid was withdrawn was because the consortium refused independent arbitration to decide if PIF and the Saudi state were separate.
The consortium tried again behind closed doors, but they were greeted with the same answer.
Now, the decision could be decided in court after the Newcastle Consortium Supporters group launched a legal challenge against the Premier League.
However, in Edwards’ view, this deal is still at the same stage, and unless the consortium agrees to the independent arbitration, you would think the deal could remain stuck.
Of course, if the legal action is successful, then there might not be any need for independent arbitration, so we will have to see what happens there.
For the moment, though, it looks like the takeover is stuck, and it will be interesting to see if this legal challenge can change that and force the deal through.