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Consortium Releases Statement As The Premier League Wriggle Themselves Off The Hook



So Newcastle fans have suffered another gut punch just over a year after the last one when Rafa Benitez left the club and an earlier proposed takeover was found out to be much ado about nothing.

Now, after months of speculation that a deal was almost certain. The Saudi-backed consortium has pulled out of their attempted takeover of our beloved club. This drops Newcastle well past square one, and into negative territory. The club has been left behind and must now scramble to get itself on track for the coming season.

The Chronicle has published the following statement from the consortium on why they felt there was no path forward in their bid for Newcastle:

“”With a deep appreciation for the Newcastle community and the significance of its football club, we have come to the decision to withdraw our interest in acquiring Newcastle United Football Club.

“We do so with regret, as we were excited and fully committed to invest in the great city of Newcastle and believe we could have returned the Club to the position of its history, tradition, and fans’ merit.

“Unfortunately, the prolonged process under the current circumstances coupled with global uncertainty has rendered the potential investment no longer commercially viable.

“To that end, we feel a responsibility to the fans to explain the lack of alternatives from an investment perspective.

“As an autonomous and purely commercial investor, our focus was on building long-term value for the Club, its fans and the community as we remained committed to collaboration, practicality, and proactivity through a difficult period of global uncertainty and significant challenges for the fans and the Club.

“Ultimately, during the unforeseeably prolonged process, the commercial agreement between the Investment Group and the Club’s owners expired and our investment thesis could not be sustained, particularly with no clarity as to the circumstances under which the next season will start and the new norms that will arise for matches, training and other activities.

“As often occurs with proposed investments in uncertain periods, time itself became an enemy of the transaction, particularly during this difficult phase marked by the many real challenges facing us all from Covid-19.

“We feel great compassion for the Newcastle United fans with whom we shared a great commitment to help Newcastle United harness its tremendous potential and build upon its impressive and historic legacy while working closely with the local community.

“We would like to say that we truly appreciated your incredible expressions of support and your patience throughout this process.

“We are sorry it is not to be. We wish the team and everyone associated with it much good luck and success.”

Interestingly, this statement confirms that the ‘commercial agreement’ between the consortium and Mike Ashely expired. This was first reported by The Telegraph’s Luke Edwards a few weeks ago. So maybe there’s something to the Henry Mauriss and Clear TV angle.

The statement also cites the uncertain conditions surrounding the Premier League for next season due to the coronavirus. However, it’s ultimately the prolonged owners’ and directors’ test that has doomed this takeover attempt.

The Investment Group could have made provisions to accommodate any uncertainties surrounding next season had they been afforded the time to do so. However, the Premier League did not want to make a decision as they were in a no-win situation.

So like gutless dithering cowards they let the process linger with the hopes that it would just go away. They got their wish but at what cost to Newcastle United.

This action by the league is truly disgraceful and they have shown their utter disregard for Newcastle United and its fanbase.

But now we must begrudgingly continue to plod forth on this familiar path. We cannot allow any new seeds of contempt to blossom and further impact our faith in this club.

We must back Steve Bruce and the players and continue to hope that someone somewhere comes to the rescue of Newcastle United.

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355 comments so far

  • jonnyshaw85

    Jul 30, 2020 at 4:36 PM

    Comment #1

    Same old story eh? Wonder whether PL gave them a heads up n said you are gonna fail the O&D test so they ‘backed out’ to save face…?

    0
  • Master's is a ****

    Jul 30, 2020 at 4:37 PM

    Comment #3

    (repost)

    Saudi saying their “investment thesis could not be sustained” is them trying to extricate themselves from the takeover and blame someone else, I think they knew or had the nod that it wasn’t going to be approved anytime soon so they threw their toys out the pram.

    It’s never the Arab’s fault.

    (I’ll be back as DubaiMicky soon btw)

    7
  • The Hit Man & Her

    Jul 30, 2020 at 4:38 PM

    Comment #4

    I wouldn’t have cared if you just disagreed Munster but promoting i would celebrate a failed takeover was bang out if form as an outright lie. You shot your bolt and haven’t the grace to concede it.

    I escape the dilemma of Saudi ownership but at what cost? I wouldn’t want it to fail simply because i might have a conscience problem with it – I don’t decide what the majority have given their blessing. I certainly don’t rejoice, it’s a sad day for the Geordie fans and a real setback. We can only hope things change. They might come back.

    2
  • It's on

    Jul 30, 2020 at 4:39 PM

    Comment #5

    There is piracy of football content in the UK. Sky, BT Sports etc charge too much. I now have no reason to buy any football programmes.

    18
  • Kevin Vegan

    Jul 30, 2020 at 4:39 PM

    Comment #6

    Has anyone found a source for this statement yet? Sky slorts seemed to get hold of it first, but I haven’t seen them state where it came from or who made it exactly.

    Is it just me or has it completely appeared out of nowhere? Why wouldn’t they name a source?

    0
  • RIP NUFC - shut it down

    Jul 30, 2020 at 4:39 PM

    Comment #7

    Jim white talking nonsense I see, stirring the pot.

    When I first read those ostensible Staveley words I thought he had her on the line on his show. Not the case. We’re supposed to take his word for it he’s spoke to her and is relaying the information from a ‘tearful’ Staveley. All part of the circus.

    They love toying with Newcastle fans and Talkshite are the worst for it.

    4
  • It's on

    Jul 30, 2020 at 4:40 PM

    Comment #8

    Scottish football has had 2 teams over the last 20 years. It’s pretty boring. Now the EPL has shown how they are determined to keep the EPL pretty boring too.

    2
  • Master's is a ****

    Jul 30, 2020 at 4:40 PM

    Comment #9

    I wonder what happens to the vendor loan secured on Staveley’s court case btw?

    1
  • Jib

    Jul 30, 2020 at 4:42 PM

    Comment #10

    Mirror Football@MirrorFootball21 Jul
    EXCLUSIVE: Newcastle takeover takes new twist as £300m Saudi deal stalls indefinitely .

    Simon Bird got it right

    3
  • onmeedsun

    Jul 30, 2020 at 4:42 PM

    Comment #11

    It’s not the PLs fault. Get your B&W goggles off ffs. If they’d sorted the piracy issue the deal would be done. MBS would never cede to Quatar so they were never going to comply with the piracy stipulations. And since the process started 4 months ago economies have collapsed. Simples.

    4
  • lochinvar

    Jul 30, 2020 at 4:42 PM

    Comment #12

    The stench is overpowering.
    The FA are incapable and are like WW1 generals in ivory towers, not able to make a decision.
    The statement is couched in PR speak.
    Reality is FA said we’renot going to decide.
    Consortium say feckk you then.

    Next expect dodgy UEFA to announce European super league to save football. Only top 6 English clubs can be franchised into that cartel.

    Lower leagues may not survive.
    Sunderland might not either and that’s not good for our Northern neighbours.

    If Brentford come up they have a ground capacity of 17,000, fans allowed in maybe 1,500. That’s not viable.

    Anyone going down next season mat become obscure.

    Stinks.

    12
  • Kevin Vegan

    Jul 30, 2020 at 4:42 PM

    Comment #13

    If Staveley loses her case does that mean Ash just cost himself £17m?

    0
  • Sheikh Unknown

    Jul 30, 2020 at 4:43 PM

    Comment #14

    How long to wait for a Nufc Official statement asking us to get behind Steve Bruce and they look forward to the new season blah blah blah.

    10
  • lochinvar

    Jul 30, 2020 at 4:43 PM

    Comment #15

    I love Mauriss T Shirts now available in Sports Dire for £29.99

    0
  • Kevin Vegan

    Jul 30, 2020 at 4:45 PM

    Comment #16

    250576 journalists guessing for four months, law of averages suggests one of them would’ve got something right.

    Just as infinite number of monkeys sitiing at an infinite number of typewriters will type the complete works of Shakespeare.

    4
  • Jib

    Jul 30, 2020 at 4:45 PM

    Comment #17

    The source is the Saudi’s PR people
    Edelman

    0
  • TomaKaThor

    Jul 30, 2020 at 4:45 PM

    Comment #18

    Bruce will be genuinely happy as Larry… Just nothing to look forward to now.. Even if another takeover emerges it ain’t going to come close to what could of been.

    8
  • Munster Mag

    Jul 30, 2020 at 4:46 PM

    Comment #19

    Kevin Vegan

    Jul 30, 2020 at 4:39 PM
    Comment #6

    Has anyone found a source for this statement yet? Sky slorts seemed to get hold of it first, but I haven’t seen them state where it came from or who made it exactly.

    Is it just me or has it completely appeared out of nowhere? Why wouldn’t they name a source?

    ….OH KEVIN WOULD YOU EVER SHUT THE FCUK UP MAN ?????????

    18
  • Kevin Vegan

    Jul 30, 2020 at 4:46 PM

    Comment #20

    Sheikh Unknown

    Accompanied by a link to the club’s online shop and a reminder that season tickets will soon be available.

    Boycott time.

    3
  • Mund

    Jul 30, 2020 at 4:46 PM

    Comment #21

    Our club won’t release no statement on anything to appear us fans they don’t give two hoots about us nobody does people and never will

    6
  • It's on

    Jul 30, 2020 at 4:46 PM

    Comment #22

    onmeedsun. The deal was done. If the EPL passed the bidders weeks ago the team would be in the ownership of the SA Investment Fund. It is not Ashley’s fault. The fault is fairly and squarely blatant procrastination by the EPL to get the result we have.

    10
  • It's on

    Jul 30, 2020 at 4:47 PM

    Comment #23

    Yep, checked on the NUFC site: NO NEWS ha ha

    0
  • Munster Mag

    Jul 30, 2020 at 4:48 PM

    Comment #24

    Onmeedsun, spot on.

    If this was a clean takeover the PL would have waved it through . It was a political mess involving piracy and two states hating each other.

    Id say Masters will go on hols asap, he’s probably wrecked. I dont this the Saudis helped with their ban, That always looked all wrong to me.

    2
  • It's on

    Jul 30, 2020 at 4:49 PM

    Comment #25

    PIF just lost Amanda Stavely her £17m deposit, just to clear that up. Can’t think she’ll be too pleased.

    3
  • Kevin Vegan

    Jul 30, 2020 at 4:51 PM

    Comment #26

    Jib

    Where did you hear that? Odd that Sky Sports didn’t state they were the source if that’s true. I can’t see an offical press release from Edelman either so did they just choose to release the statememt via sky sports?

    0
  • Gothmog's Pyjamas

    Jul 30, 2020 at 4:51 PM

    Comment #27

    Henry Winter
    @henrywinter
    PIF #NUFCTakeover withdrawal deeply frustrating for long-suffering #nufc fans desperate to get rid of Ashley. But other interested parties, inc two US. One long-standing bidding group (not Mauriss) weighing up Newcastle & another club. They have the funds. Newcastle prized.

    Issues behind #NUFCTakeover stalemate/withdrawal inc TV piracy dispute with other broadcasters, concerns of certain PL clubs over TV rights (+ perhaps not wanting wealthy rival) & exact make-up of board (inc whether a Saudi presence). Nothing to do with human rights pressure.

    Bidders who’ve withdrawn frustrated/gutted were going to give Bruce a chance to start with & were going to invest heavily in #nufc academy as they’d noted how many local talents (Shearer, Carrick etc) started down south, something Ashley’s eventual successor has to address.

    3
  • Paul141726

    Jul 30, 2020 at 4:52 PM

    Comment #28

    Hey Henry Mauriss, here’s your chance.
    STEP UP, poser!

    1
  • IrishRob

    Jul 30, 2020 at 4:52 PM

    Comment #29

    The pl were never going to stop the deal or say no to money, the bloody crooked chinese ultimately were able to buy Southampton.

    When will people open their eyes and see if the Saudis wanted us THEY COULD HAVE HAD US!!

    I’m almost certain this isnt the pl’s doing.

    7
  • RIP NUFC - shut it down

    Jul 30, 2020 at 4:52 PM

    Comment #30

    They likely had their own extensive plans for the transfer window, hierarchical structure of the club including a new manager/coaching staff and commercial deals, which made the start of the transfer window their absolute limit for how long they could tolerate waiting.

    Nobody wants to buy a football club with a couple of weeks to go before the season starts, mid window, or worse after the transfer deadline has passed and your new asset is potentially flirting with relegation. Not when this new asset is supposedly being bought to project your power and modernisation to the world. How daft would they look if they got their hands on it in say October/November with us rock bottom, sacked Bruce shortly after, appointed somebody and bought heavily in January, only to still be relegated, now the quest for global recognition via a football club is in the Championship only being watched by a tiny domestic audience for at least a year. Embarrassed and out of pocket.

    Add to this the continued low oil prices and they’ve probably concluded there was an ever increasing risk associated with buying us as time went on. Why it’s taken so long is another question altogether.

    1
  • JohnReese

    Jul 30, 2020 at 4:54 PM

    Comment #31

    Think I’m done with the blog for the foreseeable. The few in here who are taking this news with glee have made the place almost unbearable over the past few months anyway.

    13
  • Our Toon

    Jul 30, 2020 at 4:55 PM

    Comment #33

    The piracy would’ve stopped completely if the Saudi’s got our club. Problem the PL have now is Saudi’s can go back to piracy, bein sports who’ve already stated they won’t pay anywhere near the same amount next time around as the product is diluted by piracy which means its worth is less.

    Overall the PL have just shafted themselves, Saudi’s will end up buying a club in France to go against PSG to get back at them most likely, and it’ll also rub it in EPL’s face aswell as they’ll see all that big money spent in another country!!

    What a monumental mess up this is by the PL and masters!!

    I agree with the consortium, how can you buy something not knowing what date it’ll be approved or what state the investment will be in by the time takeover gets approved, you’ve missed the transfer window, got rubbish in through the door as well as currently in squad and hoping the manager can keep you up to protect your investment!! Mad if anyone thinks saudis bottled it

    16
  • Jib

    Jul 30, 2020 at 4:56 PM

    Comment #34

    The club could be staying schtum because the next buyer in the queue is proceeding

    3
  • IrishRob

    Jul 30, 2020 at 4:57 PM

    Comment #35

    I dont want a broke Henry Maurice. Multiple billionaires could buy us and it wont make a jot of difference. Look at all the multi billionaires owning other clubs who arent ever going to be in the running for the pl, we needed superpower money, we had one chance and it’s gone. A takeover by anyone with a net worth under 6 or 7 Billion is going to do nothing for us.

    It’s done its finished we are going to be nowhere in 20 years time if were even lucky to still be in the league.

    There is only one takeover that was ever going to make us great again. Man it’s going to be sickening watching players who may have come to us now go to other clubs.

    17
  • Mund

    Jul 30, 2020 at 4:58 PM

    Comment #36

    I guess the Qataris have got the Premier League in there pockets

    23
  • IZZAT DAVE

    Jul 30, 2020 at 5:00 PM

    Comment #37

    Not MA’s fault, Saudis backed into a corner, fair enough, but pulled the plug, can’t appeal anything you pull out of, the other lot pulled the plug because of a deposit situation, fight it out, wait until a decision is given, sorry like, but, they bottled it. Fake over. Oh Staveley oh the Reubens #### off, as for the Arabs, pulling out again, FAKE OVER BOTTLERS.

    3
  • Sleepy Koala

    Jul 30, 2020 at 5:01 PM

    Comment #38

    This was once in a lifetime scenario, like most so disappointed in what should have been, supported the club for around 20 years but i cant get behind something i spend 90% of the time being frustrated, critical and fundamentally board anymore, its just unhealthy.
    Even though i don’t post often gonna miss the banter on here.

    8
  • Kevin Vegan

    Jul 30, 2020 at 5:01 PM

    Comment #39

    Ashley will likely be keeping schtum because that’s what he does.

    4
  • Mund

    Jul 30, 2020 at 5:01 PM

    Comment #40

    Forget this just remember what makes life important. Go give your wife or husband a hug, tell them you love them. Go have fun with your kids or call a grandchild, hear there voice and laughter, then realise that’s what is important in life. Try not to let this control your emotions. I feel all your pain.

    15
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