The Northern Echo reported yesterday the UK government are resisting calls to get involved with the Newcastle takeover bid 80% funded by the Saudi Arabian Sovereign Wealth Fund and led by PCP Capital Partners CEO Amanda Staveley.
They report that “Culture secretary Oliver Dowden told a Digital, Culture, Media, and Sport committee hearing last week that the final decision on the takeover rested with the league.”
That’s the way it should be, but as usual, with cases like this, various people and organizations do not want Saudi Arabia involved because of their poor human rights record.
But that has little to do with Newcastle United FC, the City of Newcastle and Newcastle fans.
Amnesty International has objected to the takeover, but last week Premier League chief executive Richards Masters responded to their concerns:
“I write in reply to your letter of April 20 concerning the putative takeover of Newcastle United FC by a company based in Saudi Arabia.”
“You will appreciate that these matters are often subject to media speculations but at their heart are due processes required by UK law and by the Premier League’s own rules, which can’t be conducted in public and on which we can’t comment.”
“However, I can assure you that these processes go beyond those required by UK company Law, and they are applied with equal rigor to every single prospective purchase of a Premier League club.”
That’s a well-balanced response from the Premier League CEO.
And well-respected journalist George Caulkin of the Athletic is today tweeting the deal will definitely go through.
And finally, the journalist who was first with the news – Jason Burt of the Telegraph – tweeted this late yesterday afternoon:
Apparently a lot of ‘exclusives’ around Newcastle United. My understanding is the credible bid, with contracts signed and exchanged and a deposit paid should find out in the next few days if they have the go ahead. And that, as the last time I tweeted on this, is the story.
— Jason Burt (@JBurtTelegraph) April 27, 2020
So there you have it, the deal is definitely going through.
That’s true, isn’t it?