Newcastle United journalist Liam Kennedy has provided an update on the proposed takeover of the club.
It is coming up to a year since the proposed takeover by the Saudi Arabian Public Investment Fund (PIF), PCP Capital Partners and Reuben Brothers was brought to an end as PIF “ran out of patience” with how long the process was taking.
There is still confidence from current owner Mike Ashley as well as the consortium looking to buy the club that the deal will go ahead at some point in the future, but there is yet to be an accurate timescale on just when that day might be, with the next key date being some time in July when Ashley’s arbitration with the Premier League is ‘set to unfold’.
Speaking on Loaded Mag, Kennedy offered up his view on the matter, saying that he felt whilst he doesn’t have an exact date on things, he believes there should be some movement coming very soon:
“It certainly does feel, and the things that I’m hearing that we are in the endgame now. I think we’ll have a lot more to talk about over the next couple of months. Will it happen in time, or will we get a rejection in time for this to affect next season or the transfer window? It’s an absolute unknown.”
Do you think that the takeover is still possible?
Yes, it isn't dead yet
No, it is finished
TIF Thoughts on Liam Kennedy’s comments about the proposed takeover…
Hopefully this is something that will get sorted quickly, because the last thing that Newcastle United need is to have their future in the balance – especially when it comes to the transfer market – hanging so precariously for the next few weeks.
It doesn’t exactly give Steve Bruce a lot to work with when he won’t know how much he’s going to be allowed to spend, if anything at all, and it could really end up hurting the club if they can’t bring in the right players, or miss out on players that they otherwise could have got if they had the funds available to help them push up the table next season.