SportsReport: Mark Douglas gives Newcastle takeover update involving PIF
Mark Douglas has given an update on the proposed takeover of Newcastle United by the Kingdom of Saudi Arabian (KSA) group.
Speaking in a Q & A session that was transcribed by The Chronicle, the journalist said that he understands that there are manoeuvres in the background but the battle has moved on to the legal challenge from Mike Ashley towards the Premier League.
That is apparently being done with the long-term intention of forcing the issue and allowing the prospective £300m deal between the chief executive of Sports Direct and the Saudi-led consortium to go through.
Douglas also revealed that the Saudi Arabian Public Investment Fund (PIF) have been approached by plenty of clubs of late, but they would allegedly prefer to wait it out for the Tyneside club.
In less encouraging news, the writer could not put a timescale on the takeover and added that Nick De Marco, who would be one of Ashley’s lawyers in an impending court case with the Premier League and its CEO Richard Masters, remained tight-lipped when asked by the outlet other than to confirm that he was still working for Ashley.
Douglas also claimed that he does not think that the potential legal battle would indeed be a short-term thing, meaning that any possible incomings or outgoings in the January transfer window will probably fall to Ashley, managing director Lee Charnley and manager Steve Bruce.
Nonetheless, it does seem as if the whole takeover saga is not quite dead in the water just yet.
Geordies, who do you think would win the legal battle? Comment below with your views!
The post Newcastle United: Mark Douglas gives takeover update involving PIF first appeared on The Transfer Tavern.
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