SportsReport: Saudis intend to re-submit Newcastle takeover bid on one condition
The Kingdom of Saudi Arabia (KSA) consortium reportedly intend to re-submit their takeover bid of Newcastle United on one condition.
As per the Daily Telegraph, the KSA group intend to re-ignite their £305m deal with Mike Ashley if the St. James’ Park faithful is successful in winning an arbitration case against the Premier League and its chief executive Richard Masters.
Newcastle takeover background
This comes following the reported news that the Saudis remain as determined as ever in their pursuit to pry the Tyneside club away from the hands of Mike Ashley.
The Magpies made an official statement just a few days ago that confirmed that they have issued arbitration proceedings against the English top flight, and it goes on to say that it is unclear as to when those proceedings would be resolved, given the approach of England’s highest division and indeed its lawyers.
This means that the whole dispute may well have to be taken to a court case in order to settle these proceedings, and if the Toon are successful in winning that potential case against the top flight, then the Saudis look set to re-submit their £305m bid in what could be a big boost to NUFC fans.
In other news, find out which Newcastle star has been ruled out of the Chelsea clash here!
The post Newcastle United: Saudis intend to re-submit takeover bid on one condition appeared first on The Transfer Tavern.
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