Football finance expert Kieran Maguire has been discussing the latest when it comes to the proposed takeover of Newcastle United.
This upcoming Friday will mark the one-year anniversary of the day that Newcastle United owner Mike Ashley’s attempt to sell the club was called off, with the Saudi Arabian Public Investment Fund (PIF) reportedly running out of patience over how long the deal was taking following the Premier League’s concern over the links between PIF and the Saudi state.
There was another turn in the saga last week, with the Premier League and Newcastle United’s arbitration case being postponed until early 2022, throwing further doubt over the idea of the process being completed.
And speaking about the takeover on The Price Of Football podcast, Maguire noted that one of the downsides of this news is that Ashley might not be too bothered with investing in the team short-term as a result of the latest news:
“Biggest losers potentially is Newcastle United and their fans, because Mike Ashley is now in the position of a person who is planning to sell his house and therefore is doing the bare minimum in terms of maintenance. Therefore, in terms of recruitment, planning and player strategy, it’s on life support at present.”
TIF Thoughts on Kieran Maguire’s comments about Mike Ashley and the Newcastle United takeover…
Are you still hoping that the takeover goes through?
Maguire’s claim is backed up by a report from The Sun in June that claimed Steve Bruce’s transfer budget was only going to be £50m this summer – not exactly a fortune when you consider some clubs in the Premier League are spending that much on one player.
But this is just compounding the misery that has been put on the fans after years of Ashley being rather reluctant when it comes to spending.
And with the arbitration delayed until early 2022, hopefully it can all be done in such a timeframe where the club can get some investment in for at least some of the 2022 January transfer window, because that might be the only chance the club get to invest some real money in the side rather than having to go through a whole season of being underfunded once again.