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.
355 comments so far
the crown princes nashers
Jul 30, 2020 at 5:54 PM
Comment #161The ledge
ive not seen him say anything really
Cathedral on the hill
Jul 30, 2020 at 5:54 PM
Comment #162I just feel completely flat, devastated just doesn’t come close. Whatever your thoughts there has clearly been people at the pl deliberately delaying, stalling and driving the process around in circles. Of that I’m convinced. Put yourself in PIF’s shoes, how many times do you have to keep answering the same questions over and over? With every passing day and no immediate resolution in sight, how long do you wait for an answer. Without being able to control and influence your asset, would you have wanted the same team and Steve Bruce as your manager. Doomsday scenario is upon us. Can’t see anything other than relegation next season.
Jib
Jul 30, 2020 at 5:55 PM
Comment #163George Caulkin
ni una palabra
Mund
Jul 30, 2020 at 5:55 PM
Comment #164Haha can’t believe I’m reading posts saying this was all a ruse between the Saudis and Ashley haha ffs
Stay off the tipple
RIP NUFC - shut it down
Jul 30, 2020 at 5:55 PM
Comment #165Mund
Yes, you clearly live in your own world and fail to deal with reality.
Glad to get the admission you live by ignorance is bliss. Hopefully people will take note.
toon22
Jul 30, 2020 at 5:56 PM
Comment #166Id like to see Eddie Howe
We probably need Sam Allardyce, yes its that bad
jane
Jul 30, 2020 at 5:56 PM
Comment #167“Premier League basically f$$ked us simples”
don’t be too harsh on yourself Mund 🙂
The ledge
Jul 30, 2020 at 5:57 PM
Comment #168The sales and purchase agreement signed between parties in April expired a few weeks ago, meaning Ashley was able to try and renogotiate.
Mund
Jul 30, 2020 at 5:57 PM
Comment #169RIP
Are you from the north east? From Newcastle?
9
Jul 30, 2020 at 5:57 PM
Comment #170Lads, stop blaming people who have nothing whatever to do with this : Saudi screwed up as a result of their blatant piracy of EPL TV rights,then assuming they would be looked on favourably by EPL! Madness. I, personally, always thought the Saudis would grease EPL palms enough to get the go ahead, so I was clearly wrong, but don’t go looking for anybody else to blame except the Saudi crooks.
geordietom
Jul 30, 2020 at 5:57 PM
Comment #171Tsunki …
you couldn’t wait to get your tanner’s worth in could you , and you stole that word off JAIL ” inane” …
believe me i’d love to meet up with you get in touch with admin ask for my e-mail addy please hurry up and do it …
toon22
Jul 30, 2020 at 5:58 PM
Comment #172If the club dont act
And just slide along like nowts happened
Its oblivion for the club
The PR has already made sure for us to expect almost none of the tv money actually making it as far as the club
I dont care whos to blame right now, we can get to that later
Weve got 6 weeks to try and fix the mess
jane
Jul 30, 2020 at 5:59 PM
Comment #173“Hopefully people will take note.”
don’t worry we won’t forget or let him forget! 😉
toon22
Jul 30, 2020 at 5:59 PM
Comment #174GT
Threats from the internet arnt too clever
Just accept you differ opinions
the crown princes nashers
Jul 30, 2020 at 5:59 PM
Comment #175so how come none of us knew anything about it ledge, so in fact they all knew and said nothing until now
toon22
Jul 30, 2020 at 6:00 PM
Comment #176Maybe cabbage heed will do the honorable thing and resign
As if he claims to be a toon fan surely he wont preside over over demise
toontom
Jul 30, 2020 at 6:01 PM
Comment #177After supporting Newcastle United for 30 years, this has got to quite easily be one of the worst experiences, absolutely gutted, to think that we were so close to not only getting back to the exciting and ambitious club we were all those years ago, but we could have became a force in the footballing world, then getting hit straight back down to Earth, it makes you think if we are ever going to get rid of Ashley, right now I would give anything just to be able to support a club with a small amount of ambition, like us all, I am so so fed up of this mike Ashley era, I really hope there is another buyer out there for us and the sooner the better
toon22
Jul 30, 2020 at 6:01 PM
Comment #178the crown princes nashers
Look back at the things that happened over the last month
Id say the turd knew right about when we signed that 3rd choice keeper
Mund
Jul 30, 2020 at 6:01 PM
Comment #179Funny how people think they can judge you and your life because you want to be positive.
Nobody knows what anyone has gone through in there life, how hard or how easy it’s been. Pain is the inevitable damage of life and it can shape you or destroy you. I’ve had times hard like many but it’s my experiences that’s shaped who how I am today for the sake of my family, my wife and my kids.
Don’t ever think you can judge me
RIP when you don’t know me
geordietom
Jul 30, 2020 at 6:02 PM
Comment #180toon22 …
i’m not having a jumped up negger having a go at me mate
Jib
Jul 30, 2020 at 6:02 PM
Comment #181Bottom line
Getting involved in an Arabic regional spat was never going to be a good outcome
toon22
Jul 30, 2020 at 6:04 PM
Comment #182Its kind of convenient the club robbing the ST money from the fans now aint it
Hes got them in the bank, hes got some crowd thatll turn up to watch the clubs demise
toon22
Jul 30, 2020 at 6:04 PM
Comment #183GT
Fair enough, didnt read the who shibang
Mund
Jul 30, 2020 at 6:05 PM
Comment #184Staveley, speaking to the Times, was asked if she blamed the Premier League and replied: “Of course we do.
“They had a chance, they say we have not answered all the questions and we have done so. But the other clubs in the Premier League didn’t want it to happen. #NUFC
Moonraker15
Jul 30, 2020 at 6:05 PM
Comment #185Jib
You’ve changed your tune anarl!
The deal was done, deposit paid, awaiting the PL OD test!
PL fcked us over after pressure from Qatar. Saudis got fed up and ditched it!
In the meantime Man City get away with spending even more and can play CL football!
Man Utd have Saudi sponsors and Sheffield Utd a Saudi owner!
It’s a fckin joke man and so are you you prick!
toon22
Jul 30, 2020 at 6:05 PM
Comment #186Right now
Today
We need a new manager
QUICK
Asi Fish
Jul 30, 2020 at 6:05 PM
Comment #187Ahh the true posters coming out revelling in hounding supporters positivity during a time of utter gloom.
Many thanks you gloom merchant media monsters. I’m so glad you are content that the PIF takeover is dead.
VanToonMan
Jul 30, 2020 at 6:05 PM
Comment #188ZERO fans should turn up. For Ashley and for the Premier League.
Thump
Jul 30, 2020 at 6:06 PM
Comment #189https://twitter.com/dpcoverdale/status/1288875127178960902
Sources close to the Saudis say Ashley tried to ‘significantly renegotiate’ the £300m deal at the last minute.
One of the reasons why they have pulled out today, as well as losing patience with the Premier League. #nufc
The sales and purchase agreement signed between parties in April expired a few weeks ago, meaning Ashley was able to try and renogotiate.
Pottsclock
Jul 30, 2020 at 6:06 PM
Comment #190Premier League trying to protect the “elite set” from threats. No real competition permitted to the top order. Man city run riot with Fair Play rules. Cheslea have a year of an Andy Pandy ban. We’re strung along
Munster Mag
Jul 30, 2020 at 6:06 PM
Comment #191Watching sky now 🙁
Mund
Jul 30, 2020 at 6:07 PM
Comment #192Asi Fish
Shocking isn’t it I would never want to do that to another fan at a time like this
carltoon
Jul 30, 2020 at 6:08 PM
Comment #193Toon22, thank you for the last couple of posts, because I can’t take this anymore, I wanted this to happen so much, what can we do now I wish there was, it’s unlikely I’ll get back in to the ground anyway this season. But I’m up for protesting, not that anyone took much notice. I’m posting through tears. Crikey I need help.
jane
Jul 30, 2020 at 6:09 PM
Comment #194Mund you’re just getting back what you’ve given out for months.
Jail for Ashley
Jul 30, 2020 at 6:09 PM
Comment #195I’m gutted and probably won’t sleep tonight 🙁
ChicoUSA
Jul 30, 2020 at 6:09 PM
Comment #196To all the optimists, the naive believers that this club might soon become great again, that dared to hope and dream, stand proud and don’t let the cynics and pessimists get you down!
Their victory is hollow! They will wrap themselves in the cold sheets of their being smarter and cleverer than us, and in the morning they will still be cold and alone!
To fans such as geordietom, CaptainAmerinag and carltoon: God bless you! Your optimism is greater than this setback could ever extinguish!
Respect!
The ledge
Jul 30, 2020 at 6:09 PM
Comment #197Mund…dont worry about it lad I was just as confident as you.
You will tell the real fans now from the wums because the wums will tell anyone who was positive about it we told you so and we were right about the takeover not happening.
Pay no attention to them cu.ts feck them .
Asi Fish
Jul 30, 2020 at 6:10 PM
Comment #198Socks and sandals wearing moon heads.
Closet warriors practicing their attacks in Narnia.
Hindsight positivity parasites feeding in full affect…………..
Mad Frog Boom 22
Jul 30, 2020 at 6:10 PM
Comment #199Time to start real boycott! Stop your support now until Ashelys gone.
Munster Mag
Jul 30, 2020 at 6:10 PM
Comment #200Season tickets will be a mess.
Staveley and Co said they were never going to get the deal… Sky saying this now.