With Mike Ashley confirming that he had begun arbitration proceedings against the Premier League for the governing body’s handling of the £305 million takeover of Newcastle United – with the league appearing to have made no progress in either accepting or rejecting the takeover after three months, before the buying party eventually withdrew their offer – back in November of last year, the possibility of the bid being resurrected still hangs in the balance.
However, speaking on a recent episode of the #NUFC Matters YouTube show, Jacobs revealed that the Premier League are confident of winning the arbitration hearing, which would all but be the end of PIF’s takeover attempt of the Magpies.
He said: “The Premier League are equally as confident in their case, they are equally as confident that the Owners’ and Directors’ test was carried out appropriately and on time, and there was no corruption, and there was no conspiracy theory, and there was no anti-Newcastle agenda.
“So, therefore, if the Premier League win the club case, assuming that it runs its full course, it’s going to be a lot harder for a takeover to happen. So, this isn’t what Newcastle fans necessarily want to hear but I am not going to come on any podcast and tell you it definitely will or won’t happen, because we’re not that far along in the current narrative. We’ve been there before, but right now, it’s half time and the club case needs to resolve itself.”
Will NUFC win their arbitration hearing?
TIF Thoughts on Ben Jacobs’ comments regarding the Premier League’s arbitration hopes…
From Jacbos’ comments, it would seem as if the Premier League are confident of their case in the arbitration proceedings begun by Mike Ashley late last year, which, in the event that the governing body are indeed successful in their case, would represent a knockout blow for the PIF-backed takeover of Newcastle United.
However, for now, as the journalist also points out, everything is still very much up in the air regarding the arbitration proceedings, meaning that, unfortunately for fans of the club, there is no other option but to wait and see whether Nick De Marco and Mike Ashley can successfully defeat the Premier League’s case in the hearing.