Speaking recently on the #NUFC Matters YouTube show, Ben Jacobs discussed the chances of Newcastle United’s takeover deal being resurrected.
Despite current Newcastle owner Mike Ashley and PCP Capital Partners, the Reuben Brothers and the Saudi Arabian Public Investment Fund (PIF) agreeing a £305 million deal for the sale of Newcastle United back in April of 2020, the deal eventually fell through when the buying party withdrew their bid due to the length of time the Premier League were taking to either issue their approval or rejection of the bid.
As a result, Ashley has confirmed that he has begun arbitration proceedings against the Premier League for their handling of the takeover, as the 56-year-old is ‘keen to resurrect’ the deal.
And, speaking on a recent episode of the #NUFC Matters YouTube show, Jacobs gave his verdict as to whether he believes the takeover attempt does indeed stand a chance of being reignited.
He said: “The honest truth is that we’re dealing with a fluid narrative. So, whereas I reported in April last year that it was imminent, much like everybody else, and then over the course of May, June and July, I started to hear – perhaps a bit earlier than other people – that there were problems and stumbling blocks.
“I genuinely believe that anybody – and this is based on speaking to the buyers, the sellers, and those connected to the deal that aren’t in either of those camps, but still hear and know information – that says straight off the bat that it’s definitely going to happen, or it definitely won’t at this point is essentially giving you a prediction. If we put it in Newcastle United terms: a Magpies’ game that’s 0-0 at halftime.”
Do you think the takeover will be resurrected?
Yes
No
TIF Thoughts on Ben Jacobs’ comments regarding the takeover…
As such, from Jacobs’ comments, it would appear that – running with the journalist’s football metaphor – it is all still very much to play for regarding the Newcastle United takeover, as both Ashley or the Premier League could successfully argue their case in the arbitration proceedings – which would then either path the way to the takeover proceeding or leave the bid firmly in a dead end.
So, despite the fact that the Magpies’ takeover saga is rapidly approaching its first birthday, if Jacobs is to be believed, there does indeed remain a chance that Newcastle fans could see the deal finally go through.